The new report on the global performance coatings market gives estimations of the size of the international market and the overall size and share of key regional segments during the historical assessment period of 2014 – 2018. The research report gives projections of different shares and opportunities, both in terms of projected value (US$Mn/Bn) as well as volume (n units), of different fragments in the performance coatings market during the estimated timeframe of 2019 – 2029. The business knowledge study offers users with a granular analysis of key development elements, promising business avenues, and the overall dynamics of the vendor landscape of the global performance coatings market. 2018 is considered as the base year and 2019 as the estimation year.
Transportation accounts for a majority share in the performance coatings market. The automotive industry has shown a slight downfall, owing to slow growth in China and Europe and stringent emission regulations. This has led to a reduction in amount of automobiles production globally, resulting in mediocre growth of the performance coatings market. With regard to revenue, the global performance coatings market is projected to expand at a CAGR of ~5% during the forecast period. This notable growth in the performance coatings market is mainly influenced by its extensive consumption in automobile & aerospace coatings. Moreover, the performance coatings market is gaining traction in consumer good applications, which further fuel market growth throughout the forecast period. Furthermore, key manufacturers are increasing their business footprint rapidly, which create profitable opportunities for the market.
As per the Fact.MR study, manufacturers involved in the performance coatings market are rigorously investing in research & development activities to introduce innovative and cost-efficient solutions in the market. Stringent government regulations on VOC emissions has resulted in a shift in the adoption of water-borne performance coatings thus, driving the growth of the performance coatings market. Manufacturers are also expanding their business via organic growth strategy by collaborating with giant industry players and raw material suppliers. The key strategy of performance coating manufacturers is to develop fuel-efficient performance coatings, multi-purpose and hybrid coatings, and innovative eco-friendly products such as green coatings, nano-coatings, etc. For instance, PPG industries introduced PPG SIGMASHIELD 880, a high-performance Coating for U.S. and Canada offshore markets.
To provide an in-detailed analysis of the potential opportunities, the research report takes into consideration of the several growth factors across different regional segments. The important geographical segments of the global performance coatings market are as follows:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico)
- Europe (BENELUX, Nordics)
- APEJ (India, South Korea)
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The detailed research report on the global performance coatings market focuses on the macro as well as microeconomic factors that are helping its development. The report also concentrates on the regulatory framework that is shaping the future of the global market. Furthermore, the research report also makes not of the existing as well as prevailing pricing structure, emerging areas of applications, and imminent investment opportunities in the global market. The report also offers an in-depth analysis of how the projected growth factors will shape the market dynamics in the coming years of the forecast period. Moreover, it also gives meaningful as well as actionable insights on the key trends that are developing the current market scenario and which will be lucrative for the future of the global performance coatings market.
According to the study, epoxy resins are the most attractive performance coating, which hold a majority share in the market. This is due to high functional properties offered by epoxy resins. Epoxy resins find major applications in automotive, aerospace, and marine industries. Epoxy powder-based coatings are useful for corrosive protection of steel pipes, potable water transmission pipelines, and reinforcing pipes. In addition to this, powder-based epoxy coatings have very low VOC content abiding regulatory policies.
Moreover, acrylic resin is expected to witness the fastest growth owing to its fast-drying properties. Water-borne acrylic coatings find primary applications across various industries, especially in Western Europe and North America, as there are stringent environmental regulations regarding VOC emissions in these regions. Solvent-borne performance coatings have witnessed steady growth due to regulations on VOC emissions, and thus, hampering the overall performance coatings market. Also, fluctuation in crude oil prices has a huge impact on the market.
The research report on the global performance coatings market also provides an in-detailed analysis of the overall vendor landscape. The report analyzes the key marketing and promotional strategies adopted by the leading companies in the global market. Furthermore, it takes into consideration the existing development, past events, and recent trends to provide a strong and unbiased opinion on the future direction in which these leading companies will be heading into. To back its opinion, the research report covers all the factors and events such as mergers, acquisitions, takeovers, joint ventures, and strategic alliances. It also analyzes the entry barriers and overall intensity