Protective Coatings Market worth $18,431.8 Million by 2019, According to a New Study on ASDReports

Wednesday 10 September 2014, Amsterdam

The report, now available on ASDReports, "Protective Coatings Market by Resin Type (Alkyd, Acrylic, Epoxy, Polyurethane, Polyester & Others), by Technology (Solvent Borne, Water Borne, Powder & Others) & by Application (Construction, Oil & Gas, Automotive, Aerospace, Product Finishes & Others) - Global Trends & Forecast to 2019"defines and segments the global protective coatings market with analysis and forecasting of volume consumed and value generated. The protective coatings consumption is projected to grow from 4,253.9 KT in 2014 to 6,701.3 KT by 2019,  at a CAGR of 9.52% during the same period.

The protective coatings market is mainly driven by growing demand for end-user industries such as construction, oil & gas, automotive, aerospace, and product finishes. Rising need for infrastructure is driving the consumption of protective coatings in the construction industry. Similarly, accelerating demand for efficiency has resulted in expanding the market for protective coatings in the automotive and aerospace industries. The oil & gas industry is projected to show a rapid growth with increasing demand for protection from corrosion and other environmental factors.

The global protective coatings market has an immense potential toward attracting small and big level industry players. It is experiencing a huge surge, especially in Asia-Pacific, due to its flourishing infrastructure and automotive sectors. It is the highest growing market followed by Europe and North America, driving the global consumption of protective coatings.

New product development is the major growth strategy adopted by the market players. Most of the companies are engaged in developing new and improved products to meet the rising demand from end-user industries to increase their protective coatings business. The companies are also expanding their operations and production capacities to new regions through capacity and geographic expansions.

The report forecasts market size by value of the global protective coatings and its various sub-markets with respect to main regions namely, Asia-Pacific, Europe, North America, and Rest of World.

The report segments the global protective coatings market by end-user industries by resin type such as alkyd, acrylic, epoxy, polyurethane, polyester, and other resins; by technology such as solvent borne, water borne, powder, and other technologies; and by application such as construction, paints & coatings, pulp & paper, detergents, oil & gas, agriculture, pharmaceutical, and other end-user industries. It also focuses on company analysis and metrics such as drivers, restraints, opportunities, and winning imperatives.