International. The global protective coatings market, along with its final products, has optimistic forecasts for the coming years, according to MarketsandMarkets.
The market size in terms of value of protective coatings was estimated at US$10,594.6 million in 2013 and is projected to grow at a CAGR of 9.75% from 2014 to 2019. It is claimed that a considerable amount of investments are made by the players of this class of coatings to serve the industry of user applications in the future.
The Asia-Pacific region represents the most important market with around 68.52% of total global demand in 2013. It is estimated that the region will show high growth in the future, mainly due to the high growth potential of protective coatings in the infrastructure and automotive market in China and India.
Almost 49.82% of the total demand was for protective coatings used for construction in 2013, followed by the automotive industry, mainly due to its high penetration in all regions.
Due to strict rules on government add-ons, solvent-based coating technology is rapidly being replaced by water and other environmentally friendly technologies. As for epoxy-type resin has the maximum share of around 32.79% in 2013 due to its high level of mechanical properties, corrosion protection and chemical resistance.
