Global Protective Coatings Market 2019-2023
About Protective Coatings
Protective coating is a layer of material applied as a surface to protect it from corrosion, wear, tear, heat, and hazardous chemicals. They consist of coatings that are used for protective, decorative, and functional purpose or a combination of these.
Technavio’s analysts forecast the global protective coatings market to grow at a CAGR of 9.50% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global protective coatings market for 2019-2023. To calculate the market size, the report considers the revenue generated from the use of protective coatings in different technology, resins and end- user.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Protective Coatings Market 2019-2023
Technavio recognizes the following companies as the key players in the global protective coatings market: Akzo Nobel, Covestro, KANSAI PAINT, Nippon Paint Holdings, PPG Industries, The Sherwin-Williams.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the new plants and capacity expansion. The vendors in the market are concentrating on strengthening their global presence.
According to the report, one of the major drivers for this market is the increase demand for water- borne coatings. Water- borne coatings are cost effective than solvent- borne coatings and do not require additives, thinners, or hardeners. This will drive the growth for protective coating market.
Further, the report states that one of the major factors hindering the growth of this market is the volatile raw material prices. Fluctuations in crude oil prices will have a direct impact on the cost of feedstock.
Nippon Paint Holdings
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