‘Global Market Study on Protective Coatings: Water-borne Protective Coatings Projected to Reflect Impressive Growth Over the Forecast Period
New York City, NY -- (SBWIRE) -- 11/07/2017 -- According to the latest market report published by Persistence Market Research titled 'Global Market Study on Protective Coatings: Water-borne Protective Coatings Projected to Reflect Impressive Growth Over the Forecast Period ', the global protective coatings market is estimated to be valued at US$ 13.8 Bn by 2016 end, and is expected to increase at a CAGR of 9.0% during 2016-2022.
In terms of market value, Asia-Pacific is expected to dominate the global protective coatings market over the forecast period, with North America being the second largest market, accounting for revenue share of 23.4% of the global estimated market value by 2016 end. Asia Pacific protective coatings market is slated to expand at the highest CAGR of around 11.8% in terms of value during the forecast period.
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On the basis of technology, the water-borne segment is expected to expand at the fastest value CAGR during the forecast period. The growth of this segment is primarily driven by increased adoption of water-borne protective coatings over solvent-borne due to the stringent environmental regulation limiting VOC emissions. On the basis of resin type, revenue contribution of the epoxy segment is expected increase at the highest CAGR of 9.4% during the forecast period.
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On the basis of application, infrastructure segment is expected to dominate the market, accounting for a revenue share of 22.2% by 2016. Commercial real estate and industrial plants & facilities segments are expected to witness CAGRs of 8.0% and 7.7% in terms of consumption during the forecast period.
Akzo Nobel N.V., PPG Industries Inc., The Sherwin-Williams Company, Hempel Group, The Valspar Corporation and Jotun are the leading players in the global protective coatings market. Other players include Sika AG, Kansai Paints Co. Ltd, and Wacker Chemie AG.
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