Published on : Dec 10, 2019
ResearchMoz.us has announced the addition of a report, titled “Global Epoxy Surface Coatings Market Insights, Forecast to 2025”. The report on the global epoxy surface coatings market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type and application. The forecast period is 2019-2025 and the base year is 2018.
Beneficial properties such as resistance to corrosion, impressive adhesion and flexibility are set to drive demand and therefore, growth in the global epoxy surface coatings market. It is these properties that allow for a varied application scenario where a number of end-use industries favor it. Some of the many that generate demand in the market are transportation, construction and marine.
It is pertinent to note here that construction itself would pull up market worth considerably. In a recent report sponsored by PwC, it has been noted that construction volumes would rise up significantly over the coming two decades. By 2030, there would be an 85% increase, generating USD 15.5 trillion of market worth. It is also worth noting that just three countries are all set to dominate the market growth thus generated. These are India, China and the United States. Together they will hold about 57% of the total growth in the market. And, as mentioned earlier, as construction is a demand generating industry. Its growth will lead to the growth of global epoxy surface coatings market.
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Owing to these factors it has been predicted that the global epoxy surface coating market would see a steady CAGR (Compound Annual Growth Rate) over the forecast period of 2018 to 2025. This will create ample opportunities of growth for market players that they will want to make the most of. Besides, the growth will pull the market value up notably.
The global epoxy surface coatings market is fragmented and some of the prominent players in the market include:
- Akzo Nobel
- Kansai Nerolac
- Sika AG
- PPG Industries
- RPM International
- The Valspar Corp
- Axalta Coating Systems
- The Sherwin-Williams Company
In order to stay ahead of the game, players in the global epoxy surface coatings market resort to a number of strategies. Mergers and acquisitions is one prominent of the lot. They do not shy away from strategic partnerships and collaborations in order to explore beneficial synergies and keep a firm grasp on the market share.
Region-wise, North America will hold the lion’s share owing to presence of strong regional players and presence of the United States, which will chart tremendous numbers. It will be followed by Europe. This, again owes to presence of key players and good levels of disposable incomes needed for housing and automobile demand generation purposes that drive growth in the global epoxy surface coatings market.
However, some of the most lucrative opportunities would be created by the Asia Pacific region that players would scurry to make the most of. These untapped opportunities would be a result of economies doing well, creating disposable income, improving standard of living. As these parameters improve, there will be demand of cars, other transportation and construction of homes and offices. There will also be a demand for recreational spaces. As these increase, there would be a demand generated in global epoxy surface coatings market. Another factor contributing to growth in the region is industrialization that is happening at a significant pace and creates need for spaces such as warehouses, garages, showrooms, etc.