Protective Coatings Market : Business overview, Upcoming Trends and Top Company Analysis Forecast

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Oct 14, 2021, 09:32 EST

Shibuya-ku, Tokyo, Japan, Japan, Oct 14, 2021, 09:32 /Comserve / -- Protective Coatings Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The protective coatings market is expected to register a CAGR of more than 5% during the forecast period. One of the major factors driving the market’s growth is the increasing demand from the power and oil and gas industries. However, regulations related to VOCs are expected to hinder the market’s growth.

- The infrastructure industry dominated the market and is expected to witness growth during the forecast period.
- Increasing investments in the infrastructure industry, especially in the emerging economies of APAC and South America, are likely to provide growth opportunities to the market.
- Globally, the Asia-Pacific region is expected to dominate the market, due to high consumption in countries, such as China and India.

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Key Market Trends

The Increasing Demand from the Infrastructure Industry

- The infrastructure industry accounts for the largest share of the market. Furthermore, it is estimated register the fastest growth during the forecast period. Rails, bridges, and roads care the major segments of the infrastructure industry. With the growth in population, expansions in infrastructure have become an inevitable part of socio-economic development.
- There are various rail projects driving the market’s growth
- For instance, North-South Railway, Saudi Arabia - The estimated length of this project is 2,400 km and is being constructed by the Saudi Railway Company.
- Apart from the aforementioned projects, there are other small-scale projects spread across regions, such as Asia-Pacific and North America.
- China, the most populous nation in the world, has the largest number of railroad passengers. The graph (on the right) clearly indicates the growth of rail transport in the region, as railways emerged as an inevitable part of the country’s transport system.
- Moreover, road projects in the Asia-Pacific region are expected to increase the consumption of protective coatings. Bharathmala project, in India, and the ongoing Belt and road project, in China, are some of the expansions observed in the market.

The Asia-Pacific Region is expected to Dominate the Market

- The Asia-Pacific region dominated the global market. China is estimated to hold the largest market share, globally, and considered to be the fastest-growing country in the Asia-Pacific region.
- The Chinese infrastructure industry is estimated to hold the largest market share o in the country. China is a global leader, in terms of investments in the infrastructure industry. The country’s government planned an array of railroad expansions, which are expected to take place during the forecast period.
- The ongoing Belt and Road project often cited as China's new Silk Road is one of the major factors driving the infrastructure industry’s growth in the region.
- Moreover, high-speed rails are gaining significant momentum in the region. In 2018, high-speed railways were extended to 29 of the existing 33 provincial-level administration facilities, while exceeding a length of 25,000 km.
- All the aforementioned factors are likely to increase the demand for protective coatings over the forecast period.

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Competitive Landscape

The global protective coatings market is partially fragmented, with the top five players accounting for more than 30% of the market share. The major market players include PPG Industries, AkzoNobel NV, The Sherwin Williams Company, Nippon Paints, and Hempel A/S, among others.

1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 Expansion of Oil and Gas Activities in North America
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Regulations Related to VOCs
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition


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