Global Organic Coatings Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The Global Organic Coatings market is estimated to experience significant growth during the forecast period. Asia-Pacific is expected to hold the largest share of the market.
Increasing application in protective sector
Organic coatings are one most widely applied method for corrosion protection of metallic materials and are of particular importance in transport and infrastructure. Organic coatings improve durability and impart stability to the surface. Steel coatings in infrastructure are in high demand for these types of coatings. The increasing infrastructure activities mainly in Asia-pacific and Europe will increase the demand for organic coatings
Protective accounts for the largest share of the application segment
The primary application of organic coatings is to prevent corrosion and provide long lasting protection to the metal surfaces. The protective sector includes, oil and gas along with infrastructure as the major segments. Both the above-mentioned segments use metal in many of their components. Moreover, the infrastructure industry in the United States is estimated to have grown at 5.94% in 2016. Apart from these regions, European countries, such as Germany and the United Kingdom are also expected to have significant expansions in the road sector during the forecast period
Asia-Pacific is to dominate
Asia-Pacific is expected to hold a share of revenue in 2017, with China dominating the market. The major reasons for China’s stronghold being the increasing number of oil and gas activities and infrastructure which are in constant need of protection from corrosion. China also has a large automotive industry in need of novel technologies in coatings to boost growth. In 2017, the Chinese automotive sector witnessed the increase in use of New Energy Vehicles. China topped the production of NEVs, with an increase of more than 25% in production in 2017, thus, making the country open to international automobile manufacturers.
Major Players: Akzo Nobel NV, Anochrome Group and Organic Coatings Ltd., among others.
Reasons to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating type of organic coatings in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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