TAGS: Marine and Protective Coatings Industrial Coatings
The market size for Protective Coatings is projected to grow from USD 13.8 billion in 2021 to USD 17.8 billion in 2026, at a CAGR of 5.2%. Growing demand for Protective Coatings from Civil Building & Infrastructure and Marine industry to drive the market.
Civil Building - Fastest-growing Segment
Demand for new transport and utility infrastructure, schools, health care facilities, high urbanization rates, and expansion plans of businesses and manufacturing facilities are the key growth factors for the protective coatings market in the region.
APAC - Largest Protective Coatings Market
APAC accounts for the largest share of the Protective Coatings market in the region. The demand for
anti-corrosive coatings has increased in the APAC. The corrosive agents involved in anti-corrosive solutions and their high applicability has influenced their growth in end-use industries such as civil building and infrastructure, marine, and automotive & OEM.
Other emerging countries such as India, Indonesia, Malaysia, and the Philippines, due to their increased income levels, shift towards nuclear families, affordable interest rates, and modern attitudes toward homeownership in several countries are leading to the rapid growth in residential construction activities. All these factors are leading to the growth of the market in the region.
The key players profiled in the Protective Coatings market report are PPG (US), AkzoNobel N.V. (Netherlands), Sherwin-Williams (US), Hempel (Denmark), and Jotun (Norway).
Source: MarketsandMarkets