Epoxy Coatings Market Report Shares 2018, Overall Trends, Sales Revenue, New Applicants, Growth Drivers and Industry Concentration Rate 2023

“Epoxy Coatings Market Foresee Significant Growth during the Review Period; Asserts MRFR”
Global Epoxy Coatings Market Information by Type (Waterborne and Powder-Based), by Application (Construction, Paints and Coatings, Automobile & Transport and Others) – Forecast till 2023

Epoxy Coatings Market – Market Overview

Epoxy Coatings are formulated by a chemical reaction between epoxide resin and a polyamine hardener and this process is called as curing. Epoxy Coatings exhibit some excellent properties such as resistance to corrosion and chemicals, flexibility, superior adhesion, high durability, and provide high-surface finish. Owing to the aforementioned properties, these coatings are widely used in various industries like building & construction, electrical, automotive, and marine among others. Epoxy Coating are very popular due to offering a quick drying, toughness, and protective coating for metals and other materials. The Global Epoxy Coatings Market is expected to witness a significant growth during the forecast period owing to the increasing demand for water-borne epoxy coatings in the major end-use industries. In addition, due to stringent environmental regulations, there is a surging demand for low VOC coatings. Powder based epoxy coatings are the low VOC coatings and are gaining popularity in the emerging economies. These powder coatings are preferred by most of the end-users including automotive and building & construction industries. This is further expected to propel growth of this market in the years to follow. However, fluctuating raw material prices for Epoxy Coatings is expected to restrain the market growth in the years to follow.

Epoxy Coatings Market- Competitive Landscape

Akzo Nobel NV (Netherlands), The Sherwin-Williams Company (US), PPG Industries, Inc. (US), BASF SE (Germany), Nippon Paint Company Limited (Japan), and Kansai Paint Company Limited (Japan), among others are some of the leading players in this market. Most of these participants adopt various strategies such as product launch, capacity expansion, R&D, and merger & acquisition to strengthen their market position and gain significant revenue. Considering these trends, the Global Epoxy Coatings Market is set to witness a considerable competition during the forecast period, 2018—2023.

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Industry/ Innovation/ Related News:

July 10, 2018- AkzoNobel opened a new manufacturing facility for coil coatings in Nairobi, Kenya, to strengthen its presence in Africa. The site is used to store the company’s products such as marine, protective, and powder coatings.

May 29, 2018- AkzoNobel opened a new manufacturing facility for powder coatings in Changzhou, China. The facility is one of the largest of its kind in the world and is expected to strengthen the company’s leadership position in the powder coatings market. The plant will produce the Interpon and Resicoat range of products to meet the growing demand for sustainable coating solutions. The expansion cost the company nearly USD 46.14 million.

October 10, 2017- Sherwin-Williams Company launched the organic zinc-rich epoxy coating for accelerated shop throughput, enhanced project schedules, and field project turnarounds. The product helps reduce corrosion potential in the event of the steel substrate being exposed due to coating damage.

June 1, 2017- Sherwin-Williams completed acquisition of the Valspar Corporation, a leading coating producer in the US. With this acquisition, Sherwin-William aims to accelerate its global growth strategy and become a global leader in paints and coatings market.

May 22, 2017- Axalata Coating System LLC entered into an agreement to acquire the Spencer Coatings Group, which is a leading manufacturer of high performance industrial coatings for heavy-duty equipment, general industrial, oil & gas, and glass coatings. With this acquisition, Axalata aims to develop innovative products and expand into new geographies.

July 21, 2016- Nippon Paints and IVM Chemical entered into an agreement to launch a Epoxy Coatings range in India. This agreement will help promote Nippon Paints’ existing coating products and IVM Chemicals’ brands in India.

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