Epoxy coatings provide some exceptional resistance to UV light, corrosive chemicals and heat; these benefits foster the global epoxy coatings market.
Sarasota, FL -- (SBWIRE) -- 06/23/2017 -- Zion Market Research, the market research group announced the analysis report titled "Epoxy Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Epoxy Coatings Market: Overview
Epoxy resins are the synthetic resins, which are used in the manufacturing of the adhesives and plastics. Epoxy coatings are protective coverings that are made up of epoxy resins. It is formed by mixing polyamine and epoxide resin which undergoes a chemical process known as curing. Epoxy coatings are most commonly used for industrial finishes. Formulation of epoxy coatings depends on the performance requirement of the products. The ratio of epoxy with hardener is different for different products. The selection of epoxies depends on various factors such as application time, temperature, induction time, humidity, type of substrate, environmental exposure, surface preparation and others. It possesses several properties such as marine, corrosion resistance, superior adhesion, and flexibility. They are used in various industries such as industrial, automotive and others.
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Global Epoxy Coatings Market: Growth Factors
Epoxy coatings provide some exceptional resistance to UV light, corrosive chemicals and heat; these benefits foster the global epoxy coatings market. They also exhibit properties such as extreme toughness, resistance to abrasion and outstanding dimensional stability which is driving the global market. Additionally, it offers excellent adhesion to fibers, metal surface, glass and other materials. Owing to this, the global market for the epoxy coatings is anticipated to grow in the future.
Global Epoxy Coatings Market: Segmentation
The global epoxy coatings market is segmented on the basis of an application which includes transportation, paints & coatings, electrical & electronics, construction, adhesives and others. Based on the technology, the global market is fragmented as powder-based, waterborne and solvent borne. The powder-based segment contributes the largest market share owing to its less impact on the environment. Powder-based coatings can be cured under controlled high temperature. They are largely accepted for various applications. This segment is expected to maintain its dominance in the next few years due to non-volatile organic compound emission properties of powder-based coatings. In addition, it is extensively used in industries such as transportation and construction. The waterborne coating is water-soluble and usually cured with water. They are non-reactive and easy to use. However, they possess some adverse environmental effects.
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Global Epoxy Coatings Market: Regional Analysis
Asia-Pacific is the dominating region due to higher demand for epoxy coatings across various industries. This region is leading in chlorinated polyethylene market. Moreover, North America and Europe is showing a considerable growth owing to the growing demand from the end-user industries for non-VOC emission coatings. Technological advancements in the Asia-Pacific region also boost the global epoxy coatings market growth.
Global Epoxy Coatings Market: Competitive Players
Major players operating in the global epoxy coatings market are Axalta Coating Systems LLC, Akzonobel N.V., Kansai Paint Co. Ltd., BASF SE, RPM International Inc. and PPG Industries. Other players influencing the global market are Berger Paints India Ltd., The Sherwin-Williams Company, The Valspar Corporation, Tikkurila OYJ and Nippon Paint Co. Ltd.
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Global Epoxy Coatings Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa