POLYUREA COATINGS MARKET - GLOBAL FORECAST TO 2022

“The polyurea coatings market is projected to grow at a CAGR of 13.10% from 2017 to 2022, in terms of value”

The polyurea coatings market is projected to grow from USD 684.3 million in 2017 to USD 1,266.5 million by 2022, at a CAGR of 13.10% between 2017 and 2022. The growing demand for polyurea coatings from the building & construction and transportation sectors is expected to fuel the growth of the polyurea coatings market. These coatings have no VOC content and provide excellent performance as well as fast curing ability. However, higher cost of polyurea coatings as compared with other coating technologies is restraining the growth of the polyurea coatings market.

“The landscape segment is projected to be the fastest-growing application segment of the polyurea coatings market both, in terms of value and volume”

The demand for polyurea coatings across various landscape applications has increased significantly over the past few years. Landscape applications include aquariums, pools, water parks, theme parks, reservoirs, facades, and bath tub & cabins. The increasing usage of spray-applied polyurea coatings in landscape applications is anticipated to drive the growth of the polyurea coatings market.

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“Rising demand for polyurea coatings from end-use industries in the Asia-Pacific region is expected to drive the growth of the polyurea coatings market”

The polyurea coatings market in the Asia-Pacific region is expected to witness significant growth, owing to increase in infrastructural activities and rise in initiatives undertaken by research institutions to drive R&D investments for the technological development of polyurea coatings. These institutions are focused on improving the performance, efficiency, and durability of polyurea coatings, thereby enhancing their applicability across varied end-use industries. 

Research Coverage:

The report covers the market for polyurea coatings and their applications across different industry verticals and regions. It aims at estimating the market size and future growth potential of the polyurea coatings market for varied technologies, types, raw materials, applications, and regions. The report also includes an in-depth competitive analysis of key players in the market, along with their company profiles, recent developments, and key market strategies.

Reasons to buy the Report

The report will help market leaders/new entrants by providing them the closest approximations of revenues of the polyurea coatings market. This report will help stakeholders better understand the competitive landscape, gain insights to position their businesses, and formulate market strategies. The report will also help stakeholders understand the pulse of the market and acquire information on key market drivers, restraints, challenges, and opportunities. 

The break-up of primary interviews is given below:

•             By Company Type: Tier 1 – 27%, Tier 2 – 46%, and Others – 27%

•             By Designation: C-level – 36%, D-level – 28%, and Others – 36%

•             By Region: Asia-Pacific – 46%, Europe – 27%, North America – 18%, and South America & MEA – 9%

Key companies operational in the polyurea coatings market include VersaFlex Inc. (U.S.), PPG Industries, Inc. (U.S.), Sherwin-Williams Company (U.S.), Rhino Linings Corporation (U.S.), Kukdo Chemical Co., Ltd. (South Korea), Nukote Coating Systems (U.S.), VIP GmbH (Germany), and Specialty Products, Inc. (U.S.), among others.

The report provides insights on the following pointers:

Market Penetration: Comprehensive information on polyurea coatings offered by top market players

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the polyurea coatings market

Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for polyurea coatings across varied regions

Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the polyurea coatings market

Competitive Assessment: In-depth assessment of market shares, growth strategies, products, and manufacturing capabilities of leading players in the polyurea coatings market

INDUSTRIAL COATINGS MARKET - GLOBAL FORECAST TO 2022

The industrial coatings market is projected to reach USD 130.97 billion by 2022, at a CAGR of 5.91% between 2017 and 2022. The end-use industries of industrial coatings include automotive, aerospace, marine, industrial wood, packaging, protective, general industrial, rail, coil coatings, packaging, transportation, and consumer goods & appliances. The current demand for industrial coatings in these end-use industries is driving the Industrial Coatings Market. The demand for industrial coatings has increased in recent years due to their increased consumption by the growing automotive industry in the Asia Pacific region. This increased consumption can be attributed to the region’s rising population, which has, in turn, contributed to the growth of the Asia Pacific industrial coatings market.

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Expansions were the key strategies adopted by the major players in the industrial coatings market between 2014 and 2016. These strategies have helped companies operating in this market increase their product portfolio and expand their global presence. The leading market players are focused on entering new markets by launching technologically advanced and innovative industrial coatings for varied applications. Companies have also adopted the acquisitions strategy to strengthen their position in the industrial coatings market.

Some of the leading manufacturers of industrial coatings include AkzoNobel N.V. (Netherlands), PPG Industries Inc (US), Axalta Coatings Systems (US), BASF Coatings GmbH (Germany), The Sherwin-Williams Company (US), Kansai Paints Co., Ltd (Japan), Jotun A/S (Norway), RPM International (US), Hempel A/S (Denmark), and Nippon Paint Holdings Co., Ltd. (Japan), among others. These companies have adopted various organic and inorganic growth strategies to enhance their businesses and increase their shares in the industrial coatings market.

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AkzoNobel N.V. is one of the leading market players of industrial coatings. It provides industrial coatings for many end-use industries, such as marine, automotive, aerospace, yachts, industrial wood, consumer goods (mobile devices, appliances, beverage cans), and oil & gas facilities. The company is engaged in expansions and acquisitions to cater the growing demand for industrial coatings in automotive, general industrial, oil & gas, coil, and industrial wood sectors. In October 2015, AkzoNobel N.V. opened a new production line for coil coatings at its facility in Garcia, Mexico. This doubled its current capacity and will help serve local coated steel manufacturers. The company has its presence in more than 80 countries with over 46,000 employees. AkzoNobel N.V. has a huge supply chain network in industrial coatings.

The industrial coatings segment of PPG Industries Inc. comprises automotive OEM, industrial coatings, and packaging coatings. PPG’s industrial coatings business produces coatings for appliances, agricultural equipment, consumer electronics, transportation vehicles, and numerous other finished products. PPG’s automotive OEM coatings segment was the first to introduce automotive coating technologies such as cathodic electro coat, powder clear coat, compact paint systems, and factory-applied spray-in bed liners. The company has a strong global presence in more than 70 countries. It focuses on expansions, acquisitions, and new product launches to expand its business and increase its market share. In December 2016, PPG Industries introduced Durastar Ultra-Cool coil coatings in Pittsburgh (US) that provide exceptional chalk resistance, fade resistance, and forming flexibility to cater the growing domestic demand. In September 2015, PPG Industries completed the acquisition of IVC Industrial Coatings, a US-based specialty powder and liquid coatings manufacturer to cater the growing powder coatings demand from the local market. This development strategy helped the company reinforce its presence in the industrial coatings market.

Other key players that have established a strong foothold in the industrial coatings market are Axalta Coatings Systems (US), Kansai Paints Co., Ltd (Japan), Jotun A/S (Norway), RPM International (US), Hempel A/S (Denmark), and Nippon Paint Holdings Co., Ltd. (Japan).

Low Temperature Coating Market - Global Forecast to 2021

The global low temperature coating market is projected to reach USD 5.13 billion by 2021, at a CAGR of 6.7% from 2016 to 2021. Low temperature coating has applications in various end-use industries such as automotive, industrial, heavy-duty equipment, architectural, and furniture. Increase in energy savings due to the reduction in cure temperatures and growing demand for low temperature coating from industries such as heavy-duty equipment, and automotive in the Asia-Pacific are expected to boost the growth of the global low temperature coating market.

Expansion was the key strategy adopted by major players to enhance their presence in the global Low Temperature Coating Market between 2013 and 2016. This strategy accounted for a major share of all development strategies adopted by leading players during the above mentioned time period. Key players operating in the global low temperature coating market include E.I. DuPont de Nemours and Company (U.S.), PPG Industries, Inc. (U.S.), The Valspar Corporation (U.S.), Axalta Coating Systems (U.S.), Bowers Industrial (U.S.), Tulip Paints (India), Platinum Phase SDN BHD (Malaysia), VITRACOAT America, Inc. (U.S.), Forrest Technical Coatings (U.S.), and Specialty Polymer Coatings, Inc. (Canada) among others.

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Besides expansions, new product launches, and mergers & acquisitions were other key strategies adopted by market players to enhance their market shares and expand their geographical reach.

In November 2016, PPG Industries Inc. launched POWERCRON electrocoat at FABTECH 2016, U.S. These coatings are available in different formulations to help OEMs use lightweight metals and achieve environmental compliance without compromising on corrosion resistance. In September 2015, PPG expanded its San Juan del Rio, Queretaro, Mexico, coatings manufacturing facility with an investment of USD 27 million to meet the rising demand for industrial coatings from the local customers and OEMs. The company focuses on serving the local automotive manufacturing industry with this expansion. New product launches and expansions are the key strategies adopted by PPG Industries Inc. to target potential customers. It has strategically concentrated on expanding its regional presence through expansions. PPG Industries Inc. is emphasizing on R&D activities to broaden its product portfolio and strengthen its presence in the global low temperature coating market.

In January 2017, Axalta Coating Systems launched Alesta Lync, a Dry-On-Dry (DOD) powder coating for general industrial applications. Alesta Lync is energy efficient and provides protection against corrosion. In April 2016, the company expanded its powder coatings production capacity in Montbrison, France to serve its customers by improving lead times and providing greater flexibility. Axalta Coating Systems aims to increase its efficiency through a dedicated delivery service to serve its clients effectively. The company aims to leverage the extensive market expertise and excellent technical capabilities of its distributors to increase its product portfolio in various regions. 

In April 2015, The Valspar Corporation expanded the production capability of Pipeclad powder products in France, Europe. Through this expansion, the company aims to meet the growing demand for industrial coatings worldwide. Valspar has well-recognized brands of low temperature coating and has a strong operational network in the U.S., which, in turn, helps the company enhance its regional presence.

The global low temperature coating market was valued at USD 3.50 billion in 2015 and is projected to reach USD 5.13 billion by 2021, at a CAGR of 6.7% from 2016 to 2021. Low temperature coating has been specifically formulated to develop a fully cured coating which can be set at lower oven temperatures or with shorter dwell times at conventional oven temperatures. These coatings are well suited for heat sensitive substrates and assemblies. The growing popularity of environment friendly powder-based low cure solutions has led to an increase in the demand for low temperature coating.

The growing demand for low temperature coating from the manufacturing industry in the Asia-Pacific and expansion of the heavy-duty equipment industry, especially in emerging economies, are factors contributing to the growth of the global low temperature coating market.

Automotive and industrial are the major end users of the global low temperature coating market. Low temperature coating are used on wheels, grills, bumpers, door handles, roof racks, trailer hitches, and exterior & interior trims in the automotive industry. Application of low temperature coating in the industrial segment includes soccer goals, basketball backstops, lockers, camping equipment, golf clubs and golf carts, ski poles, and exercise equipment.

Based on coating type, the powder-based segment of the global low temperature coating market is projected to grow at the highest CAGR during the forecast period. Powder-based low temperature coating have near zero VOC emissions and produce much thicker coatings than conventional liquid coatings without running or sagging. They also exhibit superior properties over conventional paints, including high resistance to corrosion, high-quality finish, chipping and abrasion resistance, durability, cost-effectiveness, and reduced processing time.

In 2015, the Asia-Pacific accounted for the largest share of the global low temperature coating market, followed by North America. The high demand for low temperature coating in the Asia-Pacific is attributed to the growth of the heavy-duty equipment and manufacturing industries over the past few years. The Middle East & Africa low temperature coating market is projected to grow at a relatively slower rate in comparison to other regions.

Market players have adopted both, organic and inorganic growth strategies such as regional expansions, mergers & acquisitions, and new product developments, to expand their businesses worldwide. Key companies operating in this market focus on providing innovative products and enhancing their presence in emerging markets. They also focus on strengthening their research & development facilities to provide cost-effective product grades. These developments are expected to lead to the sustainable growth of the global low temperature coating market in the near future.

Coating Equipment Market by Type, End User Industry - Global Forecast to 2021

COATING EQUIPMENT MARKET- GLOBAL FORECAST TO 2021

The coating equipment market was valued at USD 13.79 billion in 2015 and is projected to reach USD 19.33 billion by 2021, at a CAGR of 5.8% from 2016 to 2021. Coating equipment serves various end-use industries, such as automotive & transportation, aerospace, industrial, and building & infrastructure. Growing demand for coating equipment from the industrial segment in the Asia-Pacific region and increasing acceptance of new technologies in the field of coatings, especially in emerging economies are the factors expected to boost the growth of the coating equipment market during the forecast period.

The strategy of new product launches was the key strategy adopted by major players to achieve growth in the coating equipment market between 2013 and 2016. This strategy accounted for the largest share of all development strategies adopted by market players between 2013 and 2016. Some of the major market players operating in the coating equipment market are Nordson Corporation (U.S.), Anest Iwata (Japan), Graco Inc. (U.S.), O.C. Oerlikon (Switzerland), IHI Ionbond AG (Switzerland), and SATA GmbH & Co. KG.(Germany), among others.

Besides new product launches/developments, expansions, and mergers & acquisitions were other key strategies adopted by market players to enhance their market shares in the coating equipment market and expand their geographical reach.

Nordson Corporation focuses on expansions and development of new and innovative products and services to cater to the growing needs of its customers for efficient and sustainable solutions. It continues to work on optimizing manufacturing processes of coating equipment, offer customized products, and develop new, energy-efficient, and cost-effective solutions for coating materials. For instance, in November 2015, Nordson Corporation launched Encore HD Mobile Spray System (powder coating), which features its fourth generation dense phase spray technology. This system helps in achieving optimum utilization of powder materials and provides increased speed of operation. Development and launch of this system has helped the company to cope up with growing demand for powder coating equipment from various end-use industries.

In March 2014, Nordson Corporation signed an agreement with Esman Elektronik for distribution of its products in Turkey. This enabled company to expand its distribution channel in Turkey to reach its customers and strengthen its presence in the country.

Graco Inc. is one of the major players in the coating equipment market. The company has a broad product portfolio and offers various fluid and powder coating materials. It is also involved in the manufacturing of coating equipment. Graco also offers adhesives and sealants. Graco Inc. focuses on the development of new products. It has launched electric and gas airless sprayers, which make spraying easy, fast, and increasingly productive.

The coating equipment market was valued at USD 13.79 billion in 2015 and is projected to reach USD 19.33 billion by 2021, at a CAGR of 5.8% from 2016 to 2021.

Selection of coating equipment for use in varied end-use industries depends on various factors, which include type of coating material, shape of the object to be coated, and degree of surface finish required. Surface finish is an important factor in all end-use industries, such as automotive & transportation, aerospace, industrial, and building & infrastructure. To get proper finish of the coated surface, various types of coating equipment are used.

On the basis of type, the coating equipment market has been segmented into liquid coating equipment, powder coating equipment, and specialty coating equipment. These types include various coating tools, such as conventional spray guns, electrostatic spray guns, and thermal spray guns, among others.

Among end-use industries, the industrial segment of the coating equipment market is projected to grow at the highest CAGR during the forecast period. It is expected to be followed by the automotive & transportation segment of the coating equipment market. Emerging countries are undergoing rapid industrialization to ensure their economic growth. Growth of various end-use industries across the globe is fueling the demand for different types of industrial products. Moreover, growing concerns about protection of expensive machines and equipment from corrosion is resulting in increased requirement for anti-corrosion coatings. This, in turn, is expected to fuel the growth of the industrial segment of the coating equipment market during the forecast period.

Among types, the powder coating equipment segment of the coating equipment market is projected to grow at the highest CAGR during the forecast period. Powder coatings are being increasingly used across varied end-use industries as they do not contain any volatile organic component. Powder coatings are applied with electrostatic guns. Curing is an important step in the coating processes, wherein powder coatings are used. The size of the object to be coated can impact the selection of the coating processes. Growing demand for coating equipment across the globe can be attributed to the technological advancements taking place in the coating equipment, along with development of various new products for the coating equipment industry.

The Asia-Pacific region is the largest market for coating equipment, followed by the North American region. The growth of the Asia-Pacific coating equipment market can be attributed to increased demand for industrial products in the region, owing to growth of varied end-use industries in the Asia-Pacific region during the last few years. Growing population, rising consumption of industrial products and energy, and increasing investments being made by governments of various countries for their economic growth are the factors leading towards the growth of the Asia-Pacific coating equipment market. A number of leading players are considering growth of the coating equipment market in the Asia-Pacific region as an opportunity to expand their presence in the region. Growing automotive industry in the Asia-Pacific region offers great opportunities for the manufacturers of coating equipment as automotive industry is one of the largest end-use industries that employ coating equipment. Growing demand for coating equipment from the industrial segment of the Asia-Pacific region and increasing acceptance of new technologies in the field of coatings, especially, in the emerging economies are likely to boost the growth of the coating equipment market during the forecast period.

Leading players in the coating equipment market are employing both, organic as well inorganic growth strategies, such as regional expansions, agreements, and new product developments/launches to expand their overall business, worldwide. The key companies operating in this market focus on providing innovative products and enhancing their presence in the emerging markets. They also focus on strengthening their research & development facilities to provide cost-effective products, which, in turn, is expected to lead towards sustainable growth of the coating equipment market in the future.

The key companies profiled in coating equipment market report are Nordson Corporation (U.S.), Anest Iwata (Japan), Graco Inc. (U.S.), O.C. Oerlikon (Switzerland), IHI Ionbond AG (Switzerland), and SATA GmbH & Co. KG. (Germany), among others.

Antifouling Paints and Coatings Market by Type, Application, Region - Global Forecast to 2021

The report "Antifouling Paints and Coatings Market by Type (Copper-Based, Self-Polishing, Hybrid, Others), Application (Shipping Vessels, Drilling Rigs & Production Platforms, Others), Region (APAC, Europe, North America, MEA, Latin America) - Global Forecast to 2021", The global Antifouling Paints & Coatings Market is projected to reach USD 9.22 Billion by 2021, at a CAGR of 8.6% from 2016 to 2021. High demand for antifouling paints & coatings from the shipping industry is expected to drive the growth of the market in near future.

The global antifouling paints & coatings market is projected to reach USD 9.22 Billion by 2021, at a CAGR of 8.6% between 2016 and 2021. This growth is mainly attributed to the increasing demand of antifouling paints and coatings from the shipping industry and rising concerns toward reduction in fuel consumption. These coatings play a key role to reduce fouling & corrosion, extend the vessel's life & efficiency, reduce operational costs, and avoid marine accidents & expensive repairs.

Shipping vessels was the fastest-growing application segment of the global antifouling paints & coatings market

Shipping vessels segment contributed the largest share to the antifouling paints & coatings market in 2015, and is projected to be the fastest-growing application segment from 2016 to 2021. This growth can be mainly attributed to the increased demand of  antifouling paints & coatings, as they provide smoothness and superior polishing effect to hulls and underwater surfaces of shipping vessels.

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Copper-based antifouling paints & coatings was the largest segment of the antifouling paints & coatings market

Based on type, the antifouling paints & coatings market has been segmented into copper-based, self-polishing copolymer, hybrid, and others. Copper-based was the largest segment of the market in 2015. Copper-based antifouling paints & coatings are environment friendly, as they ensure foul-free surfaces of shipping vessels. They also help in saving fuel, thereby reducing the emission of greenhouse gases.

Asia-Pacific was the largest market for global antifouling paints & coatings market in 2015, globally

Asia-Pacific was the largest market for antifouling paints & coatings market in 2015, owing to the rise in demand of antifouling paints & coatings in this region. This increased demand can be attributed to the growing number of ship building activities in the region. China, Korea, and Japan are the leading countries in the ship building industry in Asia-Pacific. Low cost of raw materials and labor, as well as the introduction of advanced products is expected to drive the growth of the antifouling paints & coatings market in these countries.

Key players operational in the antifouling paints & coatings market include AkzoNobel N.V. (Netherlands), Hempel A/S (Denmark), BASF SE (Germany), PPG Industries (U.S.), The Sherwin-Williams Company (U.S.), Jotun (Norway) and Chugoku Marine Paints, Ltd. (Japan).

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