The Latest Protective Coatings Industry Statistics Explained
The global Protective Coatings Market was valued at USD 14.30 billion in 2020.
The statistic indicates that the global Protective Coatings Market had a total value of USD 14.30 billion in the year 2020. This value represents the overall revenue generated by the sales of protective coatings for various applications such as industrial, automotive, marine, and construction sectors worldwide. The figure suggests the significant size and economic importance of the protective coatings industry in protecting surfaces from corrosion, wear and tear, weathering, and other forms of damage. The market value also reflects the demand for protective coatings due to the increasing focus on extending the lifespan of assets, improving infrastructure durability, and enhancing overall safety and performance of products and structures.
The market is projected to grow at a CAGR of 5.0% from 2020 to 2025, to reach USD 18.32 billion by 2025.
The statistic mentioned indicates that the market is forecasted to experience a Compound Annual Growth Rate (CAGR) of 5.0% from the year 2020 to 2025. This means that, on average, the market is expected to increase by 5.0% every year during this period. By 2025, the market size is projected to reach USD 18.32 billion, reflecting the cumulative growth over the 5-year period. The CAGR provides a standardized way to measure the growth rate of the market, smoothing out fluctuations and presenting a more consistent growth trend over time. This projection suggests a positive outlook for the market’s expansion and potential opportunities for investors and businesses operating within it.
In 2019, water-borne protective coatings accounted for the largest share of the overall protective coatings market.
The statement suggests that in 2019, the market for protective coatings was largely dominated by water-borne products compared to other types of coatings. Water-borne protective coatings typically refer to those that use water as a carrier or solvent instead of traditional organic solvents, making them more environmentally friendly and safer to use. The fact that water-borne coatings had the largest market share indicates a growing trend towards more sustainable and eco-friendly options in the protective coatings industry. This could be driven by factors such as increased regulatory pressure, consumer demand for greener products, and the overall shift towards more sustainable practices in various industries.
The oil & gas industry is expected to account for the majority of the protective coatings market share by 2025.
This statistic indicates that the oil & gas industry is projected to dominate the protective coatings market by 2025, capturing the largest market share compared to other industries. Protective coatings are essential in the oil & gas sector to safeguard equipment, structures, and assets from corrosion, wear and tear, and environmental elements. The anticipated growth in market share suggests a continued demand for protective coatings within the oil & gas industry, driven by factors such as increasing investments in oil and gas infrastructure, stricter regulations on environmental protection, and the need to prolong the lifespan of assets. This trend highlights the significance of the oil & gas sector in driving the market for protective coatings and underscores the industry’s commitment to ensuring the longevity and integrity of its operations.
The marine coatings segment is expected to grow at a CAGR of 5.8% from 2015 to 2022.
This statistic indicates the expected compound annual growth rate (CAGR) of the marine coatings segment from 2015 to 2022. A CAGR of 5.8% suggests that the annual growth of the marine coatings industry is projected to increase at a steady rate of 5.8% each year during this period. This growth rate highlights the anticipated expansion and development of the marine coatings market over the specified timeframe, which could be influenced by factors such as increasing demand for marine coatings, technological advancements, regulatory changes, and market trends. This statistic provides valuable insight into the expected trajectory of the marine coatings industry and can be used by businesses and stakeholders to make informed decisions regarding investments, market strategies, and future planning within this sector.
In terms of revenue, the protective coatings market in Asia Pacific is expected to reach USD 7.02 billion by 2025.
In this statistic, it is estimated that the protective coatings market in the Asia Pacific region will generate revenue amounting to USD 7.02 billion by the year 2025. This figure serves as a projection of the financial value that is anticipated to be derived from the sale and use of protective coatings in the Asia Pacific market over the specified timeframe. Such data is often used by industry analysts, businesses, and investors to gauge the potential growth and economic significance of a particular sector, in this case, the market for protective coatings in the Asia Pacific region.
Powder-based coatings are expected to witness a significant growth rate, registering a CAGR of 6.5% from 2020 to 2027.
The statement indicates that powder-based coatings are projected to experience a notable increase in demand, with a Compound Annual Growth Rate (CAGR) of 6.5% expected annually between the years 2020 and 2027. This suggests that the market for powder-based coatings is anticipated to expand steadily over this period. A CAGR of 6.5% signifies the average annual growth rate of the market size during the specified time frame. This statistic reflects a positive outlook for the powder-based coatings industry, indicating potential opportunities for manufacturers, suppliers, and other stakeholders within the sector as demand for these products is expected to rise consistently in the coming years.
In 2020, the infrastructure sector accounted for over 20% share in the global protective coatings market.
The statistic indicates that in the year 2020, approximately one-fifth of the global protective coatings market was captured by the infrastructure sector. Protective coatings are essential for preserving and maintaining various structures and surfaces in the infrastructure industry such as bridges, roads, buildings, and pipelines, providing protection against corrosion, wear and tear, and weathering. The significant share held by the infrastructure sector in the global protective coatings market highlights the sector’s substantial contribution to the overall demand for these products. This suggests a strong reliance on protective coatings to ensure the durability and longevity of infrastructure assets, emphasizing the importance of quality coatings in maintaining the integrity and functionality of critical infrastructure components worldwide.
Demand for protective coatings in the U.S. is expected to exceed 870 kilo tons by the end of 2025.
The statistic “Demand for protective coatings in the U.S. is expected to exceed 870 kilo tons by the end of 2025” indicates a projected increase in the amount of protective coatings that will be required in the United States by the end of 2025. This suggests a growing need for protective coatings in various industries such as automotive, construction, and industrial applications. The figure of 870 kilo tons represents the estimated total demand for these coatings, reflecting the anticipated market expansion and the importance of protective coatings in ensuring the longevity and durability of various products and structures. This statistic serves as a key indicator for industry stakeholders to assess market trends, plan production capacities, and anticipate future business opportunities in the protective coatings sector.
The European protective coatings market is expected to sustain growth at over 5% up to 2025.
This statistic indicates that the European protective coatings market is projected to continue experiencing growth at a rate of over 5% annually until the year 2025. This suggests that there is a positive outlook for the market in the coming years, with increasing demand for protective coatings across various industries in Europe. Factors such as industrial expansion, infrastructure development, and technological advancements are likely to drive this growth trend. Companies operating in the protective coatings sector may benefit from this sustained growth by capitalizing on market opportunities and expanding their market presence to meet the rising demand for protective coatings in Europe.
Solvent-borne protective coatings accounted for over 40% market share in 2018.
This statistic indicates that in the protective coatings market in 2018, solvent-borne products held a dominant position with a market share of over 40%. Solvent-borne coatings are formulations that use organic solvents as a carrier for the active ingredients like resins and pigments. The high market share suggests that these coatings were the preferred choice for customers due to factors such as ease of application, durability, and cost-effectiveness. This information is valuable for industry stakeholders, as it highlights the significant presence of solvent-borne protective coatings in the market landscape and underscores the importance of understanding and catering to customer preferences in product development and marketing strategies.
Latin America protective coatings market is expected to reach $750 million by 2025.
This statistic indicates that the protective coatings market in Latin America is projected to grow and reach a total value of $750 million by the year 2025. This prediction suggests that there is a positive outlook for the protective coatings industry in the region, likely driven by factors such as increasing industrial activities, infrastructure development, and a focus on enhancing durability and longevity of surfaces. The expected increase in market size reflects potential opportunities for businesses operating in the protective coatings sector to expand their market presence and tap into the growing demand in Latin America.
Epoxy coatings dominated the protective coatings market in 2017.
The statistic ‘Epoxy coatings dominated the protective coatings market in 2017’ indicates that epoxy coatings held the largest market share within the protective coatings industry during the year 2017. This suggests that epoxy coatings were the most preferred choice among consumers and industries for providing protection to various surfaces and materials. The dominance of epoxy coatings could be attributed to factors such as their durability, chemical resistance, adhesion properties, and versatility in applications. This statistic highlights the significant market presence and influence of epoxy coatings within the protective coatings sector in 2017.
The U.S. protective coatings market accounted for over 20% of the North America market in 2016.
In 2016, the U.S. protective coatings market represented more than one-fifth of the total protective coatings market in North America. This statistic indicates the significant presence and importance of the U.S. market within the region, suggesting that the U.S. is a key player in the protective coatings industry. The market share of over 20% signifies a substantial level of market activity and demand for protective coatings within the U.S., with potential implications for industry trends, competition, and opportunities for growth and development in the market.
Demand for water-based protective coatings will lead to an annual consumption of over 850 kilo tons by 2025 in the U.S.
This statistic suggests that there will be a significant increase in the demand for water-based protective coatings in the U.S. by the year 2025, with an estimated annual consumption exceeding 850 kilo tons. This information indicates a growing trend in the use of water-based coatings, likely due to the increasing awareness and preference for environmentally friendly and sustainable products. The demand for these coatings is expected to rise, possibly driven by various industries such as construction, automotive, and manufacturing, that rely on protective coatings for surface finishing and corrosion prevention. This statistic highlights a potential market opportunity for companies in the coatings industry and underscores the importance of adapting to changing consumer preferences and environmental regulations.
Bio-based protective coatings markets are expected to witness high growth in the future due to their environmental benefits.
The statistic suggests that the market for bio-based protective coatings is projected to experience substantial growth in the future, primarily attributed to their environmental advantages. Bio-based coatings are derived from renewable resources, such as plants or animals, making them more sustainable and eco-friendly compared to traditional petroleum-based coatings. The increasing awareness and focus on environmental sustainability are driving the demand for bio-based coatings in various industries, including automotive, construction, and packaging. As a result, the market for bio-based protective coatings is anticipated to expand significantly as more companies and consumers prioritize environmentally friendly products.
Powder coatings are gaining popularity due to the reduced VOC emissions and are expected to account for over 20% of the market by 2025.
The statistic indicates that powder coatings are becoming increasingly popular in the market because they result in reduced volatile organic compound (VOC) emissions compared to traditional liquid coatings. This trend is expected to continue growing, with powder coatings projected to account for more than 20% of the market share by 2025. The shift towards powder coatings reflects a broader industry emphasis on sustainability and environmental stewardship, as companies and consumers seek out more eco-friendly options for their coating needs. This statistic highlights the significant market demand for cleaner, more sustainable coating solutions and suggests a positive outlook for the continued adoption of powder coatings in various industries.
The global protective coatings sector anticipates a significant gain at a CAGR of 3.5% through 2027.
This statistic indicates the expected growth rate of the global protective coatings sector over the period ending in 2027. Specifically, the sector is projected to experience a Compound Annual Growth Rate (CAGR) of 3.5% during this time frame. This suggests that the protective coatings industry is poised for notable expansion, with the market size likely to increase steadily at an annual average rate of 3.5% until 2027. Such growth can be influenced by factors such as increasing demand for protective coatings in various industries, advancements in technology leading to more effective products, and expanding applications across different sectors. Overall, this projection indicates a positive outlook for the global protective coatings sector in terms of market size and revenue generation.
The market size of aliphatic protective coatings will surpass USD 2 billion by 2024.
This statistic indicates that the market size (total revenue generated) for aliphatic protective coatings is projected to exceed 2 billion U.S. dollars by the year 2024. Aliphatic protective coatings are a type of coating used to protect surfaces from environmental elements such as UV radiation, moisture, and chemicals. The projected increase in market size suggests that there is growing demand for these coatings, likely driven by factors such as increased infrastructure development, industrial activities, and awareness of the importance of protective coatings for maintaining the longevity and quality of surfaces. This trend could indicate opportunities for businesses operating in the protective coatings industry to capitalize on this growth and expand their market share.
In 2020, Akzonobel, the leading vendor held approximately 20.8% share in the protective coatings market.
In 2020, Akzonobel, a prominent vendor in the protective coatings market, held a market share of approximately 20.8%. This statistic indicates that Akzonobel was a significant player in the protective coatings industry, capturing a substantial portion of the market. The high market share suggests that Akzonobel’s products and services were preferred by consumers and businesses within the industry, potentially due to factors such as product quality, brand reputation, or distribution network. This market dominance also signifies that Akzonobel may have had a competitive advantage over other vendors in the protective coatings sector, allowing them to influence market trends and potentially drive industry developments in 2020.
References
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