Epoxy Coatings Market Size, Share & Growth | Forecast [2030]

Segments - Epoxy Coatings Market by End-users (Transportation, Industrial, Building & Construction, Automotive, and Others), Technology (Solvent-based, Water-based, and Powder-based), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Riddhesh Dani

Fact-checked by : Harneet Meher

Editor : Shruti Bhat

Report Description

The global epoxy coatings market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to rising demand from paints and coatings industry globally.

Epoxy coatings are long-lasting coatings made from a polyamine hardener and an epoxide resin in a chemical process. This is termed as curing, where it can take anywhere between a few minutes to several hours, based on the strength & hardness of the coating required. Since these coatings can form a robust, long-lasting, and chemically resistant film; they are employed in a range of protective coating applications in the automotive, transportation, building and construction industries. Epoxy coating techniques produce a robust, durable, and impact-resistant protective film with exceptional adherence. These coatings are primarily water-based or powder-based and are gaining popularity over traditional solvent-based coating systems due to the numerous benefits they provide. Fewer coats are required to obtain the necessary film thickness, low-temperature curing process, compliance with volatile organic compounds (VOCs), and a reduction in the need for air ventilation during curing and application. Epoxy powder-based coating is rapidly replacing wet paint as the preferred finishing technique owing to its low VOC emissions, formulas, and technological developments.

The COVID-19 outbreak has brought negative impact on the epoxy coatings market due to emergency restrictions and lockdowns by respective regulatory bodies across the region, which resulted in disruption in demand and supply chain globally. The market is expected to recover soon as gradual lifting of emergency lockdown by governments across the globe.

Market Trends, Drivers, Restraints, and Opportunities

Rapid urbanization that lead to rapid construction and building projects in developing region is expected to boost the market growth in the coming years.
Rising need for epoxy coatings in various end-use industries including automotive and industrial sectors is another key factor driving the market growth.
Availability of excellent adhesion for variety of substrate surfaces including glass, metal, and fiber are anticipated to boost the market expansion during the projected period.
Fluctuating raw material prices associated with epoxy resins present a major challenge. This is anticipated to hamper the market growth in the projected period.
Growing demand for energy efficient green buildings along with growing emphasis on improving the indoor air quality is projected to create significant growth opportunities for the market in the near future.

Scope of the Report

The report on the global epoxy coatings market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Epoxy Coatings Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	End-users (Transportation, Industrial, Building & Construction, Automotive, and Others) and Technology (Solvent-based, Water-based, and Powder-based)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Axalta Coating Systems, Ltd.; Sherwin-Williams Co.; PPG Industries, Inc.; Akzo Nobel N.V.; and Nippon Paint Holdings Co.

Market Segment Insights

Transportation segment to grow at a rapid pace

Based on end-users, the global epoxy coatings market is divided into transportation, industrial, building & construction, automotive, and others. The transportation segment is expected to grow at a rapid pace during the forecast period owing to growing demand for vehicles, impacted by increasing disposable income of a large number of the global population. However, the building & construction segment is anticipated to hold a key share of the market in the coming years due to increasing usage of epoxy coatings in industrial, residential, and commercial construction.

Solvent-based segment to expand at a considerable CAGR

On the basis of technology, the market is segregated into solvent-based, water-based, and powder-based. The solvent-based segment is projected to expand at a considerable CAGR during the forecast period attributed to growing industrialization along with the wide adoption and usage of steel in industrial plant structure. On the other hand, the water-based segment is anticipated to account for a major market share during the forecast period due to its use for moisture barrier applications across several products.

Asia Pacific to constitute a key market share

In terms of regions, the global epoxy coatings market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to rising demand for the products from industries including automotive, construction, and manufacturing in the region. However, the market of North America is anticipated to expand at a rapid pace during the forecast period attributed to growing construction activity as a result of affordable interest rates on housing loans and an effort to better public infrastructure in order to attract tourism across the region.

Segments

Segments Covered in the Report
The global epoxy coatings market has been segmented on the basis of
End-users

Transportation
Industrial
Building & Construction
Automotive
Others

Technology

Solvent-based
Water-based
Powder-based

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Axalta Coating Systems, Ltd.
Sherwin-Williams Co.
PPG Industries, Inc.
Akzo Nobel N.V.
Nippon Paint Holdings Co.

Competitive Landscape

Key players competing in the global epoxy coatings market are Axalta Coating Systems, Ltd.; Sherwin-Williams Co.; PPG Industries, Inc.; Akzo Nobel N.V.; and Nippon Paint Holdings Co. Manufacturers in the industry have employed a range of strategic initiatives including collaborations, mergers and acquisitions, and partnerships to expand their consumer base and obtain a competitive advantage over competitors. Furthermore, in order to maintain their market competitiveness, businesses are focusing their R&D spending on the production and introduction of new products.

Epoxy Coatings Market Keyplayers

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Epoxy Coatings Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Epoxy Coatings Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Epoxy Coatings Market - Supply Chain
  4.5. Global Epoxy Coatings Market Forecast
     4.5.1. Epoxy Coatings Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Epoxy Coatings Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Epoxy Coatings Market Absolute $ Opportunity
5. Global Epoxy Coatings Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Epoxy Coatings Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Epoxy Coatings Demand Share Forecast, 2019-2026
6. North America Epoxy Coatings Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Epoxy Coatings Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Epoxy Coatings Demand Share Forecast, 2019-2026
7. Latin America Epoxy Coatings Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Epoxy Coatings Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Epoxy Coatings Demand Share Forecast, 2019-2026
8. Europe Epoxy Coatings Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Epoxy Coatings Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Epoxy Coatings Demand Share Forecast, 2019-2026
9. Asia Pacific Epoxy Coatings Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Epoxy Coatings Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Epoxy Coatings Demand Share Forecast, 2019-2026
10. Middle East & Africa Epoxy Coatings Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Epoxy Coatings Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Epoxy Coatings Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Epoxy Coatings Market: Market Share Analysis
  11.2. Epoxy Coatings Distributors and Customers
  11.3. Epoxy Coatings Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Axalta Coating Systems, Ltd.
     11.4.2. Sherwin-Williams Co.
     11.4.3. PPG Industries, Inc.
     11.4.4. Akzo Nobel N.V.
     11.4.5. Nippon Paint Holdings Co.