Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 10.28 Billion | USD 16.57 Billion | 4.9% | 2023 |
According to Zion Market Research, the global 2K Protective Coatings Market was worth USD 10.28 Billion in 2023. The market is forecast to reach USD 16.57 Billion by 2032, growing at a compound annual growth rate (CAGR) of 4.9% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the 2K Protective Coatings Market industry over the next decade.
The global 2K Protective Coatings market accrued earnings worth approximately 7.1(USD Billion) in 2019 and is predicted to gain revenue of about 11.2(USD Billion) by 2026, is set to record a CAGR of nearly 5% over the period from 2020 to 2026.
The report offers assessment and analysis of the 2K Protective Coatings market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
These products are stiff and provide resistance against humidity, alkali, abrasion, seawater, and acid. Furthermore, these products have distinct features including low volatility and are utilized as water cleaning agents. These unique characteristics help these coatings fit to be utilized for metallic surfaces including Aluminum and Cast Iron.
Thriving construction activities as well as real estate sector has prompted the expansion of 2K protective coatings industry over 2020-2026. Surge in of use of 2K protective coatings in residential & commercial sectors as well as for building strong road as well as rail infrastructure will drive the market growth during the forecast period. Apparently, these products play a vital role in improving the lifespan of buildings, durability of swimming pools, and road protection from rusting, hard water, the urbanization witnessed in the emerging economies, thereby further steering the growth of 2K protective coatings industry. Escalating demand for epoxy resin has resulted in massive use of the product in 2K protective coatings, thereby enhancing the market size in the recent years.
Furthermore, massive product usage in oil & gas, marine, chemical & specialty chemical, waste water treatment, and power generation sectors will proliferate the expansion of 2D protective coatings market in the foreseeable future. With growing environmental concerns, firms, as a part of their corporate social responsibility, are focusing on manufacturing green products to minimize the degradation of environment and this, in turn, will further embellish the business growth over the assessment period.
Report Attributes | Report Details |
---|---|
Report Name | 2K Protective Coatings Market |
Market Size in 2023 | USD 10.28 Billion |
Market Forecast in 2032 | USD 16.57 Billion |
Growth Rate | CAGR of 4.9% |
Number of Pages | 130 |
Key Companies Covered | RPM International Inc., Hempel A/S, Jotun A/S, Kansai Paint Co., Ltd., Nippon Paints Holdings Co. Ltd., Chugoku Marine Paints Ltd., AkzoNobel N.V., Sika AG, PPG Industries , and The Sherwin-Williams Company |
Segments Covered | By End-Use Industry, By Process and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Key players influencing market growth are RPM International Inc., Hempel A/S, Jotun A/S, Kansai Paint Co., Ltd., Nippon Paints Holdings Co. Ltd., Chugoku Marine Paints Ltd., AkzoNobel N.V., Sika AG, PPG Industries , and The Sherwin-Williams Company.
Asia Pacific Market To Acquire Numero Uno Position Over 2020-2026
The expansion of 2D protective coatings industry in APAC over the assessment period is owing to large number of foreign direct invests in the region due to favorable government policies. Apart from this, easy availability of land and low labor charges has encouraged the firms based in the U.S. and Europe to set up their manufacturing units in the countries such as India and China.
This will steer the market growth in the region over the forthcoming years. With thriving power sector as well as launching of new solar energy products aided by government initiatives in India, Japan, Singapore, Philippines, Taiwan, and China is likely to culminate into large-scale penetration of the product in the sub-continent.
The global 2K Protective Coatings market profiles key players such as:
By End-Use Industry
By Process
By Region
FrequentlyAsked Questions
Thriving construction activities as well as the real estate sector has prompted the expansion of 2K protective coatings industry over 2020-2026. Surge in of use of 2K protective coatings in residential & commercial sectors as well as for building strong road as well as rail infrastructure will drive the market growth during the forecast period. Apparently, these products play a vital role in improving the lifespan of buildings, durability of swimming pools, and road protection from rusting, hard water, the urbanization witnessed in the emerging economies, thereby further steering the growth of 2K protective coatings industry. Escalating demand for epoxy resin has resulted in massive use of the product in 2K protective coatings, thereby enhancing the market size in the recent years.
Furthermore, massive product usage in oil & gas, marine, chemical & specialty chemical, waste water treatment, and power generation sectors will proliferate the expansion of 2D protective coatings market in the foreseeable future. With growing environmental concerns, firms, as a part of their corporate social responsibility, are focusing on manufacturing green products to minimize the degradation of environment and this, in turn, will further embellish the business growth over the assessment period.
According to Zion market research report, the global 2K Protective Coatings market accrued earnings worth approximately 7.1(USD Billion) in 2019 and is predicted to gain revenue of about 11.2(USD Billion) by 2026, is set to record a CAGR of nearly 5% over the period from 2020 to 2026.
Asia Pacific will contribute lucratively towards the global market size over the estimated timeline. The regional market surge is owing to large number of foreign direct invests in the region due to favorable government policies. Apart from this, easy availability of land and low labor charges has encouraged the firms based in the U.S. and Europe to set up their manufacturing units in the countries such as India and China. This will steer the market growth in the region over the forthcoming years. With thriving power sector as well as launching of new solar energy products aided by government initiatives in India, Japan, Singapore, Philippines, Taiwan, and China is likely to culminate into large-scale penetration of the product in the sub-continent.
The key market participants include RPM International Inc., Hempel A/S, Jotun A/S, Kansai Paint Co., Ltd., Nippon Paints Holdings Co. Ltd., Chugoku Marine Paints Ltd., AkzoNobel N.V., Sika AG, PPG Industries , and The Sherwin-Williams Company.
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