International.
The size of the global forming coatings market (acrylics, epoxy, urethane, silicone, parylene, and others) is estimated to grow from US$9.75 billion in 2016 to US$12.28 million in 2020, at a CAGR of 4.7%.
This was revealed by a recent study by MarketsandMarkets indicating that the market is driven by the growing demand for conformation coatings in emerging markets and high demand by the marine, electronics, aerospace and defense, automotive and transportation industries.
Asia-Pacific is projected to witness strong growth in the future. The growth in this region can be attributed to high demand from emerging markets such as China and India.
The growing popularity of different types of conformation coatings such as acrylics, epoxy, urethane and silicone in various end-use applications plays an important role in the market. Acrylic forming coatings represented the maximum percentage in terms of value due to their cost-effectiveness, and properties in ease of application and removal.
