Protective Coatings Market Analysis by Manufacturers, Regions, Types and Application to 2025

Resin Type Insights
In terms resin types, the industry has been segmented into acrylic, epoxy, polyurethane, alkyd, and polyester.
The epoxy coatings segment dominated the overall industry revenues in 2015, accounting for revenues of over
USD 9 billion. The growing demand for high operational efficiency in key application verticals can be considered
the primary factor driving the product growth.
The alkyd resins segment is expected to observe a significant growth during the forecast period, driven by the
growing application scope in segments such as automotive, construction, and oil & gas.
Product Insights
In terms of products, the industry has been categorized into water-borne, powder-based, and solvent-borne. In
2015, the solvent-borne segment accounted for revenues of nearly USD 8.5 billion, thereby dominating the
overall industry revenue. However, this segment is anticipated to observe slow growth during the forecast years
owing to strict government regulations on the use of solvent-based compounds with high VOC content.
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Water-borne coatings is another key segment, which is expected to experience the highest revenue growth of
nearly 11% during the forecast period. Increasing demand for environmental-friendly products from key enduse
verticals is slated to drive the segment growth.
End-use Insights
The industry has been segmented into construction, oil & gas, aerospace, mining, industrial, power generation,
automotive, marine, and others, on the basis of end use. The construction segment dominated the overall
industry, accounting for revenues of over USD 5 billion in 2015. This dominance and future growth of this
segment can be attributed to rising infrastructure development activities and investments in emerging countries
of Asia Pacific and Central & South America.
The growth of the aerospace and oil & gas segments is also expected to drive the demand for protective coatings
during the forecast period, projected to grow at a CAGR of nearly 11%. This can be attributed to the increasing
demand for the products in thermal barrier and surface protection applications, in the aforementioned
industries, which witness high-temperature operations.