Epoxy Coating Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027

Published Date : Apr 2020 | No. of Pages : 200 Pages | Category : Chemical and Material

The global epoxy coating market size is expected to reach around USD 44.52 billion by 2027, growing at a CAGR of 8.9% from 2020 to 2027.

The market is expected to gain traction over the forecast period on account of rising demand from paints and coatings industry owing to improved durability and superior toughness.

Rising emphasis by the regional governments on reducing VOC content in the epoxy-based paints and coatings in developed economies including the U.S. and Europe is anticipated to accelerate industry demand. Epoxy coating is exclusively used to enhance the shelf-life of the structural steel which is further expected to propel market demand over the projected period.

In the U.S., solids epoxy segment emerged as a dominant segment in 2018, accounting for 58.6% of the total revenue share. This can be attributed to its preference over concrete floors for a wide variety of commercial and industrial applications including retail stores, manufacturing & industrial plants, showrooms, garages, hospitals, and warehouses. They result in a glossy and long-lasting flooring solution.

Epoxy based coatings account for a significant share in the paints and coatings application on account of properties such as superior resistance to UV light, abrasion, heat, improved dimensional stability, and toughness. In addition, excellent adhesion to a variety of substrate surfaces including metal, glass and fiber is likely to fuel demand.

Increased demand for VOC free powder and fusion bonded epoxy coatings from industries including household appliances and pipeline construction on account of superior sealing, and corrosion prevention is expected to propel the market over the next eight years. Rising R&D activities coupled with growing investments to develop environment-friendly bio- based epoxy resins are expected to create new opportunities over the projected period.

Rising demand for energy efficient green buildings coupled with growing emphasis on improving the indoor air quality and occupant health in these buildings are expected to augment demand for low VOC waterborne epoxy coating over the forecast period. However, volatile price of epoxy resins owing to fluctuating raw material prices is expected to restrain the growth in the near future.

Product Insights

Solid epoxy product segment emerged as dominant segment in 2015, accounting for 60.2% of the overall industry share. The segment is expected to gain momentum owing to its versatility across a wide range of applications such as commercial, industrial, decorative, flooring, non-slip and heavy industrial.

Solvent borne epoxy segment was the second largest product that accounted for 26% of the total revenue share in 2015. Growing industrialization coupled with the increase in the use of steel in industrial plant structure fabrication will be the key drivers for the growth of solvent borne coatings. Solvents allow easy applicability of coatings on films without causing any surface tension.

Waterborne coatings segment is expected to witness a high growth rate over the forecast period owing to its use for moisture barrier applications. In addition, strict environmental regulations directing the reduction of VOC content in paints & coatings are expected to propel segment demand over the projected period.

Government regulations to meet clean air standards have provided an impetus for coating formulators to increase waterborne coatings usage. Widening application scope in all sorts of industrial applications such as maintenance coatings for concrete and steel is anticipated to positively impact demand.

Application Insights

Transportation segment emerged as a dominant application in 2015, accounting for 29.4% of the total revenue share. Rising demand for vehicles owing to growing middle-class population and increasing disposable income in the emerging economies such as India is expected to fuel epoxy coatings demand over the forecast period.

Coating act as corrosion inhibitors and help in preventing rust from automotive body parts and other such metal components. Evolving automotive industry in developed regions like North America owing to technological advancements and economic recovery post-recession is further slated to stimulate epoxy coatings to demand as a primer for paint adhesion.

Construction was the fastest growing segment, occupying a majority of the market revenue share in 2015. The increase in usage of epoxy coatings in residential, industrial, and commercial construction is expected to drive the industry demand. Inherent characteristics such as chemical resistance, corrosion resistance, and adhesion to substrates including concrete and metal surfaces are anticipated to impact demand in the construction sector.

Rising use of epoxy coatings in industries including marine and electronics owing to superior properties such as resistance to chemicals, heat and UV light coupled with durability, strength and flexibility is expected to drive the industry growth over the next eight years. Epoxy coatings are used extensively in industrial manufacturing plants owing to the aforementioned factors, eventually stimulating demand.

Regional Insights

Asia Pacific emerged as a leader in the epoxy market and accounted for 45.6% of the total revenue share in 2015. The region is expected to continue its dominance over the coming years owing to rising demand from industries including manufacturing, automotive and construction. In addition, increasing construction activities in China, India and Southeast Asian countries such as Indonesia and Malaysia is expected to drive industry demand over the forecast period.

Automobile manufacturers are shifting their manufacturing base to these countries owing to government incentives and availability of low-cost skilled labor. Rising disposable income coupled with population expansion are anticipated to drive transportation sector in these economies eventually stimulating epoxy coatings demand.

Europe was the second largest region accounting for 26.45 of the revenue share in 2015. This can be attributed to growing investments by the paints & coatings companies in expanding & improving their manufacturing facilities. Environment- friendly characteristic of epoxy coatings is projected to augment growth in the region.

North America is expected to witness substantial growth over the forecast period owing to rising construction activities on account of low interest on housing loans coupled with the desire to advance public infrastructure to attract tourism. In addition, rising awareness among consumers regarding the benefits of environment-friendly products is expected to provide a fillip to the market growth.

Epoxy Coating Market Share Insights

Key market participants include AkzoNobel N.V., BASF, Nippon Paint Company Limited, Berger Paints India Limited, PPG Industries Inc., The SherwinWilliams Company, and RPM International Inc. AkzoNobel N.V. is involved in the production of performance coatings and specialty chemicals. BASF is involved in manufacturing chemicals, plastics, performance products and coatings. The BASF group operates in over 80 countries.

Segmentation

Product Outlook

  • Solvent Borne

  • Waterborne

  • Powder

Application Outlook 

  • Construction

  • Industrial

  • Transportation

  • Others

Regional Outlook

  • North America

    • U.S

  • Europe

    • Germany

    • UK

  • Asia Pacific

    • China

    • India

  • Latin America

    • Brazil

  • Middle East and Africa

The Epoxy Coating market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Epoxy Coating market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Epoxy Coating market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Epoxy Coating market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Epoxy Coating market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Epoxy Coating capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Epoxy Coating by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Epoxy Coating market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Epoxy Coating market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Epoxy Coating market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Epoxy Coating industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Epoxy Coating market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Epoxy Coating market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Epoxy Coating market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Epoxy Coating market. These factors have benefited the growth of the global market for Epoxy Coating. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Epoxy Coating. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Epoxy Coating are as follows:

  • History Year: 2016-2019
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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