The global High Performance Coatings Market is forecast to reach USD 131.17 Billion by 2027, according to a new report by Reports and Data. The high-performance coating is majorly fueled by the growing demand for construction and the emergence of new buildings in both developed and developing countries. The construction and building industry hold a larger market share, followed closely by the automotive industry.
This can be mainly associated with the increase in demand owing to its properties such as durability, scratch resistance, and glossy look, which are influencing the market growth. Growing popularity among end-users, especially automotive, shipbuilding, and pipeline industries, will also encourage the growth of the market. Construction activities led by developing economies across the world will further boost the growth of the market. Increasing awareness concerning the floor coatings due to dust resistant, durable, abrasion-resistant, and waterproof features is encouraging the market demand. Emerging end-use industries, driving to the expansion of manufacturing plants and facilities is further promoting the market growth. Accelerated industrialization, the growing trend for long-lasting yet aesthetic floor across manufacturing plants, factories, warehouses, and equipment units are also contributing the market growth.
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Major Participants of the market –
Daikin Industries Ltd., Kansai Nerolac Paints Limited, Akzo Nobel NV, Toefco Engineered Coating Systems Inc., Beckers Group, The Sherwin-Williams Company, Endura Coatings LLC, AFT Fluorotec Ltd., Hempel Group, and The Chemours Company, among others.
Further key findings from the report suggest
- Acrylic coating additives are used in several products. They can be used in organic powder, water, or solvent-borne formulation. They are used for decorative purposes and to coat industrial products. Acrylic surface coatings are one of the major coatings in the industry. This type of coating has captured a large share of Western Europe and the North American market.
- Water-based coating is a clear fast-drying coating generally used on printed products. This type of coating is preferred not only due to environmental concerns, but it also provides substantial scruff-resistance. The segment is forecasted to grow with a CAGR of 5.0% during the forecast period.
- The industrial segment is contributing significantly to the growth of this industry. Industries such as machinery manufacturing, automotive industry, food processing, aviation & transportation, science & technology are using these substances. The growth of the industries is anticipated to lead to the demand for High performance coatings.
- North America region accounts for the largest share of 24.2% of the market in 2019. Due to the increased production capacities of dominant companies in the region drives the growth. Technological progress in the manufacturing sector due to more eminent automation for material movement and excellent transportation are among crucial factors propelling the demand for the market products.
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For the purpose of this report, Reports and Data have segmented the global High performance coatings Market on the basis of Type, Coating Technology, End-User, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Epoxy
- Silicon
- Polyester
- Acrylic
- Alkyd
- Polyurethane
- Fluoropolymer
- Other
Coating Technology Outlook (Revenue, USD Billion; 2017-2027)
- Water-based
- Powder-based
- Solvent-based
End-User Outlook (Revenue, USD Billion; 2017-2027)
- Industrial
- Building and Construction
- Aerospace and Defense
- Automotive and Transportation
- Marine
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- U.K
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/high-performance-coatings-market
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