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IntroductionGlobal Protective Coatings Market
Protective coatings are designed to protect the surface from the external environment. It is extensively used across industry verticals such as automotive, equipment & machinery, construction, etc. Rising applications across verticals are presumed to generate revenues in the protective coatings market over the next couple of years.
The investments in the development of bio-based materials are anticipated to favor the growth trajectory of the market in the years to come. In addition, the advantage offered by the product to increase the lifespan of the commodity applied on is poised to drive the growth of the protective coatings market in the nearby future.
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Market Segmentation:
On the basis of resin type, the protective coatings market has been segmented into polyurethane, acrylic, epoxy, polyester, alkyd, and others.
Based on end-user, the protective coatings market has been segmented into oil & gas, aerospace, mining, automotive, marine, industrial, construction, power, and others. Among these, the industrial segment is assessed to hold a substantial share of the market. Increasing investments in advanced industrial machinery & equipment are anticipated to generate demand for protective coatings to increase their lifespan. This, in turn, is assessed to be the key driver of the segment over the next couple of years.
Regional Analysis:
The global protective coatings market, by region, has been segmented into - Europe, Asia Pacific, South America, North America, and the Rest of the World (RoW). A country-level analysis of these regional segments is also covered in this assessment. Asia Pacific s expected to account for a significant market share over the next couple of years. The rising demand for the product from end-user industries is poised to lead the expansion of the protective coatings market in the region. The growth of the end-user industries is presumed to accelerate market growth in the years to come. In addition, the region is expected to witness rising production levels owing to the cheap availability of raw materials. This, in turn, is prognosticated to drive proliferation of the regional market in the forthcoming years. The rising demand across the region is likely to be supported by strong economic development and rising disposable income of the consumer base.
North America and Europe are major growth pockets. Key players based out of these regions are expected t focus on product launches to sustain the growth curve. This, in turn, is poised to accelerate revenue creation in the protective coatings market.
Competitive Dashboard:
Significant market players, that have an influential hold in the protective coatings market are expected to invest huge amounts in research & development in the years to come. This, in turn, is expected to lead to increasing the potential for organic growth approaches such as product launches, product innovations, product portfolio developments, etc. In addition, inorganic strategies such as acquisitions, strategic partnerships, agreements, mergers, etc. are further projected to intensify competition in the global marketplace over the next couple of years.
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Contact Info:
Name: Norah Trent
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Organization: WISE GUY RESEARCH CONSULTANTS PVT LTD
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