The global market for Protective Coatings was estimated to be almost €10 billion in 2017 and the volume demand is expected to grow at 2.2% CAGR to reach 2.7 million tonne (1.8 billion litre) in 2023.
Although the global Protective coatings market was affected by reduced levels of infrastructure spending in major economies in Europe, North America and Australia, investments continued in Asia Pacific, Turkey and South Africa. A high level of construction growth is expected in India driven by increasing urbanisation and investment. The United States’ ageing infrastructure that has lacked investment in recent years is attracting significant attention and substantial levels of coatings demand growth are expected in this segment supported by the announced increase in infrastructure spending by the US administration.
The global demand for Protective coatings in the Petrochemicals, Oil & Gas segment was affected by the collapse of oil prices that has resulted in reduced construction of new structures as well as postponed investment activity in the oil and gas exploration and production sector. As a result, some commodity producing countries are delaying infrastructure construction that has been supported by investments originated from high income in the oil sector. The commissioning of new oil refineries in the Middle East and Asia Pacific will generate significant levels of coatings demand in petrochemicals, while the European refineries are expected to generate demand for maintenance coatings.
Slow consumption growth in the Industry & Processing segment was mainly due to the weak global economic growth. The largest category in this segment, Food Processing continues to be supported by regular corrosion protection and maintenance activities with growth levels projected at 2.7% CAGR to 2023. Performance in other sub-segments, Mining and Mineral Extraction, Pulp and Paper Manufacturing and General Manufacturing is expected to be lower, but all have various levels of new construction that should generate additional demand for associated protective coatings.
The study provides a breakdown for the technologies used in the Protective Coatings market over the reported period. Solventborne technologies continue to dominate the coatings used in Protective Coatings. The use of solids has continued to increase with the solids contents of coatings growing by small percentage points. This study defines high solids as being between 65%-98% and medium solids are coatings with a solids content between 40%-60%. The Irfab Protective Coatings Market module provides detailed resin chemistry breakdown.
This report contains the following:
- Date Range: 2012 – 2023
- Overview: Definition of segment, what is included as well as exclusions
- Market Drivers: Economic trends, industry activity, investment, etc
- Market Trends: Factors that will affect coatings and raw materials in the different market segments
- Technologies: Current technologies, new developments and trends, market shares by technology
- Market Size: By segment and sub-segment, and by region and sub-region
- Forecast and Outlook
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