International. The protective coatings market for materials, equipment and spare parts is expected to grow from $7.9 billion in 2011 to $8.5 billion in 2012, and $9 billion in 2017, at a compound annual growth rate (CAGR) of 1% through 2017.
Individually, the market for coatings for equipment and spare parts is expected to increase from $6.3 billion in 2011 to $6.7 billion in 2012. For the year 2017, this market is expected to decrease again to US$6.4 billion. The materials business should grow in 2012 to $1.8 billion and $2.6 billion by 2017.
Key segments of this market include semiconductors/electronics, medical devices, aerospace, and automotive.
According to Companies & Markets, which published this report, growth in this market is being driven by increased demand and high expectations in various areas such as performance, ease of application, sustainability properties, quality, functionality, and environment.
