(2019 – 2024) “Chemical Resistant Coatings Market” Report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Chemical Resistant Coatings Analysis. The Chemical Resistant Coatings market is expected to register a CAGR of approximately XX% during the forecast period of (2019 – 2024).
Chemical Resistant Coatings Market Report Covers Leading Manufacturers: BASF SE, Hempel A/S, ITW Polymers Sealants, Jotun, KANSAI PAINT CO.,LTD, PPG Industries Inc., Sika AG, The Sherwin-Williams Company, VersaFlex Incorporated, Wacker Chemie AG
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The chemical resistant coatings market is expected to register a moderate growth during the forecast period, 2018 to 2023. Asia-Pacific holds the largest share in 2017, while North America is estimated to register the second-fastest CAGR through the forecast period.
Growing Demand from Construction Industry in Asia-Pacific
The emerging economies, such as China, India, Indonesia, Vietnam, and Philippines, in the Asia-Pacific region have been witnessing a robust growth in construction activities. Robust economic performance in 2017 is expected to further accelerate the growth in housing construction activities in this region. The prices of conventional residential properties have increased beyond the reach of working-class population. Due to this, the governments have been coming up with various policy initiatives, to open up the market for large-scale construction of affordable houses. Hence, with such a boom in housing construction activities in the emerging economies of Asia-Pacific, the demand for chemical resistant coatings is anticipated to project a substantial growth during the forecast period.
Increasing Demand for Epoxy Resin
The epoxy-based resins are reinforced polymer composites derived from petroleum sources, after a reaction process involving epoxide units. These resins help in the development of several properties in coatings, which includes strength, durability, and chemical resistance. The fast drying, toughness, outstanding adhesion, resistance to water, good curing, make it suitable to provide protection to metals and other surfaces. They can also be used as binders for coating applications, to enhance durability of coating for floor and metal applications. Therefore, the demand for epoxy based coatings is expected to increase over the forecast period.
Growing Demand for Chemical Resistant Coatings in North America
Growing construction sector in the United States, which is one of the major consumers of chemical resistant coatings is driving the market. Increasing construction activities of hotels, malls, offices, and etc., in almost all the provinces, is boosting the demand for chemical resistant coatings during the forecast period. The gradual growth of the commercial sector, primarily office space construction, is likely to have a positive impact on the market. The United States is competing toward complete transformation of its diesel buses into zero-emission buses. Electrical buses are fast gaining importance and their production is set to grow rapidly in the coming years which is expected to drive the global chemical resistant coatings market during the forecast period.
Major Players: PPG Industries Inc., Sika AG, The Sherwin-Williams Company, BASF SE, and Jotun., amongst others.
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Reasons to Purchase Chemical Resistant Coatings Market Report:
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge.
- Analysing various perspectives of the market with the help of Porter’s five forces analysis.
- The authentication mode is likely to witness the highest adoption of these systems in the market.
- The regions that are expected to witness the fastest growth during the forecast period.
- The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
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