Smart Coatings: Market Leaders & Revenue Pockets

The report "Smart Coatings Market by Function (Anti-Corrosion, Anti-Icing, Anti-Microbial, Anti-Fouling, Self-Healing, Self-Cleaning), Layer (Single, Multi), End-Use (Automotive & Transportation, Aerospace & Defense, Marine), and Region - Global Forecast to 2022", The smart coatings market is projected to grow from USD 2.15 Billion in 2017 to USD 6.27 Billion by 2022, at a CAGR of 23.87% from 2017 to 2022.

The market is driven by the use of smart coatings in a wide range of end-use industries, such as automotive & transportation, aerospace & defense, marine, and building & construction.

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Automotive & transportation: The largest end-use industry of the smart coatings market

Smart coatings are used in various end-use industries, such as automotive & transportation, aerospace & defense, marine, and building & construction. The automotive & transportation end-use industry is estimated to account for the largest share of the smart coatings market in 2017, in terms of volume and value, because of the higher demand for smart coatings in body hardware, door closure, lock part, exhaust, suspension, engine components, and clamps & hose connections for the protection against abrasion. The marine end-use industry is estimated to register the highest CAGR during the forecast period, in terms of value, followed by the automotive & transportation industry.

Anti-corrosion smart coatings: The largest segment by function of the smart coatings market

Anti-corrosion smart coatings are preferred because of their compatibility with most structural metals; long-lasting corrosion protection property; and adherence to environmental, health, and safety standards. They are capable of self-healing when damaged. Anti-corrosion smart coatings also require low maintenance, materials, and labor; and less physical preparation of the metal surface. In the automotive & transportation industry, anti-corrosion smart coatings are used in fasteners, body hardware, door closures, lock parts, exhausts, suspensions, engine components, clamps & hose connections, and for making the vehicles scratch-free.

Rising demand from APAC: The major driver for the smart coatings market

APAC is estimated to account for the largest share of the smart coatings market in 2017, in terms of volume and value, and is also projected to register the highest CAGR during the forecast period, in terms of value. The high demand from the APAC region has significantly contributed to the growth of the smart coatings market. China led the APAC smart coatings market owing to the increased production and consumption of smart coatings in the past five years, because of high demand from the country’s automotive & transportation and marine end-use industries. Other emerging economies, such as India, Indonesia, and Thailand are projected to register high growth in this market in the coming years.

Key players operating in the smart coatings market include AkzoNobel N.V. (Netherlands), PPG Industries (US), Axalta Coatings Systems (US), The Sherwin-Williams Company (US), Jotun A/S (Norway), RPM International (US), Hempel A/S (Denmark), and NEI Corporation (US). Diverse product portfolios, strategically positioned R&D centers, continuous adoption of developmental strategies, and technological advancements are factors strengthening the market position of these companies. These companies have adopted various organic and inorganic growth strategies to enhance their current market share in the smart coatings market.

Glass Flake Coatings Market by Resin, Substrate, End-Use Industry, and Region - Global Forecast to 2022

The report "Glass Flake Coatings Market by Resin (Epoxy, Vinyl Ester, Polyester), Substrate (Steel, Concrete), End-Use Industry (Oil & Gas, Marine, Chemical & Petrochemical), and Region (APAC, Europe, North America, South America, MEA) - Global Forecast to 2022", The global glass flake coatings market size is estimated at USD 1.44 Billion in 2017 and is projected to reach USD 1.80 Billion by 2022, growing at a CAGR of 4.48% from 2017 to 2022, in terms of value.

Glass flake coatings are advanced coatings with improved corrosion and abrasion resistance, and strong impermeability barrier resistance for chemicals and solvents. Glass flake coatings provide superior protection to steel and concrete substrates in the marine, oil & gas, chemical & petrochemical, power plants, and paper & pulp industries.

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Based on end-use industry, the oil & gas segment is projected to lead the glass flake coatings market during the forecast period

Based on end-use industry, the oil & gas segment is projected to lead the market during the forecast period. The growth in this segment can be attributed to the increased use of glass flake coatings in offshore & onshore platforms, pipelines, tanks, submerged surfaces, concrete bunds, and associated infrastructures. Glass flake coatings provide sufficient protection to these assets and pipelines, which increases their durability by reducing the effects of the corrosive and abrasive environment under which they operate.

Based on substrate, the steel segment is projected to lead the glass flake coatings market during the forecast period

Based on substrate, the steel segment is projected to lead the market during the forecast period. The growth in this segment can be attributed to the increased use of steel in the building of large & medium sized ships, chemical storage tanks, pipelines, and offshore & onshore platforms. Glass flake coatings provide resistance from corrosion, abrasion, and chemicals to steel substrates.

Based on resin type, the epoxy segment is estimated to lead the glass flake coatings market during the forecast period

The growth of the epoxy segment can be attributed to the increasing use of epoxy-based glass flake coatings in various applications in the oil & gas, marine, and chemical & petrochemical end-use industries. Epoxy-based glass flake coatings provide excellent protection against corrosion and abrasion in harsh atmospheric environments.

Asia Pacific to lead the glass flake coatings market due to growth in the shipbuilding and chemical manufacturing industries in the region

The Asia Pacific region is expected to be the largest market for glass flake coatings mainly due to the rapidly-growing economies of China and India in the region. This, along with the low cost of production and availability of cheap labor, has caused various chemical companies in the market to shift their production bases to the Asia Pacific region. Also, the global shipbuilding industry, a major end-user of epoxy-based glass flake coatings, is led by Asia Pacific—particularly by China, South Korea, and Japan due to the presence of the top five shipbuilding groups in the region.

Key market players in the glass flake coatings market

Key players in the glass flake coatings market are Akzo Nobel (Netherlands), PPG Industries (US), Chugoku Marine (Japan), Jotun (Norway), Hempel (Denmark), The Sherwin-Williams Company (US),  KCC Corporation (South Korea), Nippon Paint (Japan), Kansai Paint (Japan), and RPM International (US).

Mirror Coatings Market Projected to Reach 892.0 Million USD by 2022

The report "Mirror Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Solvent and Water-Based, Nano Coatings), Substrate (Silver, Aluminium), Application (Architectural, Automotive & Transportation, Decorative, Solar Power)-Global Forecast to 2022 " The mirror coatings market is estimated to be USD 618.4 Million in 2017 and is projected to grow at a CAGR of 7.60% between 2017 and 2022 to reach USD 892.0 Million by 2022, in terms of value.

The market includes mirror backing paints used in silver and aluminum mirrors. Mirror coatings are protective coatings used against abrasion, chemical corrosion, scratching, rusting, and others for mirror coatings products. Various applications of mirror coatings include architectural, automotive & transportation, decorative solar power, and others.

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Based on resin type, the polyurethane segment led the mirror coatings market in 2016 and is expected to grow at the highest CAGR during the forecast period

Polyurethane resins are made from reacting polyalcohol and organic di-isocyanate. Polyurethane resin-based coatings are easy to clean, highly durable, and are tough. Polyurethane resin coatings are preferred in various applications worldwide, owing to these properties. Polyurethane resin-based coatings are also used across various applications, such as architectural, CSP solar panels decorative mirror, and others. Polyurethane resins are used as topcoats in mirror coatings which are usually applied over the primer to attain a long-term protective coating. 

Based on technology, the nano coatings segment of the mirror coatings market is expected to grow at the highest CAGR during the forecast period

The nano coatings segment is projected to witness high growth in the next five years. The growing CSP solar power industry is expected to boost the nano coatings segment during the forecast period. Nano coatings protect substrates from corrosion, rusting, and microbial attack. These coatings are dirt or water repellent, scratchproof, temperature-resistant, and emit low VOC emissions. 

The mirror coatings market in Asia Pacific is projected to grow at the highest CAGR during the forecast period

The mirror coatings market in Asia Pacific is expected to grow at the highest CAGR during the forecast period, due to the rising demand for mirror coatings from emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore in this region. China is the leading market for mirror coatings in APAC. The growth of various applications, such as architectural, automotive & transportation, and CSP solar power is driving the mirror coatings market in China. 

Arkema (France), Fenzi (Italy), Ferro Corporation (US), Sherwin-Williams Company (US), Vitro Architectural Glass (Mexico), Sunguard (Guardian Glass) (US), Diamon-Fusion International (US), Pearl Nano (US) Mader (France), Tianjin Xin Lihua Color Materials (China), High Ding Industrial (Grincoat) (Taiwan), and Casix (China) are some of the key players operating in the mirror coatings market.

Marine Coatings Market worth 5.29 Billion USD by 2022

The report "Marine Coatings Market by Resin (Epoxy, Alkyd, Polyurethane, Acrylic, Polyester, and Fluoropolymer), Product Type (Anti-corrosion Coating, Antifouling Coating), Applications (Cargo Ship, Passenger Ship, Boat), and Region - Global Forecast to 2022", The marine coatings market is projected to grow from USD 4.45 Billion in 2017 to USD 5.29 Billion by 2022, at a CAGR of 3.50% during the forecast period from 2017 to 2022.

Increasing demand for marine coatings from the shipbuilding industry in emerging economies such as China, India, and Brazil, is expected to fuel the growth of the marine coatings market across the globe.

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Among resins, the polyurethane segment of the marine coatings market is projected to grow at the highest CAGR during the forecast period, in terms of value.

Among resins, the polyurethane segment of the marine coatings market is projected to grow at the highest CAGR from 2017 to 2022, in terms of value. Polyurethane resins are versatile and environment-friendly. They are available with different degrees of rigidity and solid content. Polyurethane resins offer superior properties such as high corrosion resistance, abrasion resistance, impact strength, and low-temperature flexibility, which make them suitable for various marine coating applications.

Among applications, the cargo ships segment accounted for the largest share of the marine coatings market in 2016, in terms of value.

Based on application, the cargo ships segment accounted for the largest share of the marine coatings market in 2016, in terms of value. The cargo ships are specifically structured to carry large quantities of cargoes compressed in different types of containers. In addition, the cost of transportation through water is substantially lesser as compared to other modes of transportation. These factors are expected to increase the demand for cargo ships, thereby leading to increased demand for marine coatings.

The Asia Pacific marine coatings market is projected to grow at the highest CAGR during the forecast period, in terms of value.

The marine coatings market has been studied in North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific marine coatings market is projected to grow at the highest CAGR during the forecast period, in terms of value. The growth of the market in the Asia Pacific region can be attributed to increased demand for marine coatings from various countries such as China, India, and South Korea. Various countries of the Asia Pacific region have expanded their ship manufacturing base, which, in turn, has led to the growth of the Asia Pacific marine coatings market.

Key players operating in the marine coatings market include PPG Industries (US), AkzoNobel (Netherlands), Hempel (Denmark), Sherwin-Williams (US), Jotun (Norway), Chugoku Marine Paints (Japan), Nippon Paint (Japan), Kansai Paint (Japan), Axalta (US), and BASF Coatings (Germany).

Flat Glass Coatings Market worth 2,789.6 Million USD at a CAGR of 20.99% by 2022

The report "Flat Glass Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic), Technology (Solvent and Water-Based, Nano Coatings), Application (Mirror, Solar Power, Architectural, Automotive & Transportation, Decorative), and Region - Global Forecast to 2022", is estimated to be USD 1,075.8 Million in 2017 and is projected to grow at a CAGR of 20.99% between 2017 and 2022 to reach USD 2,789.6 Million by 2022, in terms of value. Coatings in flat glass are used to enhance the water-repellent ability (automobile glass, spectacle lenses, and shower walls) as well as thermal, UV protection, heat protection, shatter protection, graffiti protection, dust protection, and optical performance characteristics of the flat glass. The various applications of flat glass coatings include mirror, solar power, architectural, automotive & transportation, decorative, and electronics & appliances. Growth in application industries, especially in Asia Pacific, is driving the global flat glass coatings market.

Based on resin type, the polyurethane segment led the flat glass coatings market in 2016 and is also expected to grow at the highest CAGR during the forecast period

Polyurethane resins are made from reacting polyalcohol and organic di-isocyanate. Polyurethane resin-based coatings possess properties such as high durability, toughness, and high gloss and are easy to clean. Owing to these properties, they are used in various applications worldwide. Polyurethane resin-based coatings are also used where high performance is expected, such as greenhouse buildings, solar panels, and space shuttles. Polyurethane resins are used in industrial and architectural coating systems as topcoats and are usually applied over primer to attain a long-term protective coating.

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Based on technology, the nano coatings segment of the flat glass coatings market is expected to grow at the highest CAGR during the forecast period

The nano coatings market has been growing significantly globally during the past few years and is projected to display higher growth rates in the next five years. The growing automotive and electronics industries are expected to boost the nano coatings market during the forecast period. Growth in the coatings sector coupled with rising demand and urbanization in BRIC countries has been driving the global nano coatings market in the past few years. Increasing preference for advanced materials in the automotive industry has led to a surge in nanotechnology R&D, which, in turn, is expected to boost the nano coatings market growth.

The Asia Pacific flat glass coatings market is projected to grow at the highest CAGR during the forecast period

The flat glass coatings market in Asia Pacific is expected to witness the highest CAGR during the forecast period due to the rising demand for flat glass coatings from the region’s emerging economies, such as India, China, South Korea, Vietnam, Taiwan, and Singapore. Solar power installation has increased the consumption of flat glasses and mirror coatings in this region. Factors such as improving standards of living and rising per capita incomes have also contributed to the growth of the Asia Pacific flat glass coatings market.

Arkema (France), FENZI (Italy), Ferro Corporation (US), Sherwin-Williams Company (US), Vitro Architectural Glass (Mexico), NIPPONPAINT (Japan), SunGuard (Guardian Glass) (US), Hesse (Germany), DIAMON-FUSION INTERNATIONAL (US), and Tribos Coatings (International) Ltd. (UK) are some of the key players operating in the flat glass coatings market.

Attractive Opportunities in the Passive Fire Protection Coatings Market

The report "Passive Fire Protection Coatings Market by Type (Intumescent, Cementitious), Technology (Water-Based, Solvent-Based), End-Use Industry (Building & Construction, Oil & Gas, Transportation), and Region - Global Forecast to 2022", The passive fire protection coatings market is projected to reach USD 4.02 Billion by 2022, at a CAGR of 6.6% from 2017 to 2022.

The use of passive fire protection coatings has increased due to stringent government regulations regarding the usage of passive fire protection coatings and fire safety standards. In addition, the rapidly growing building & construction industry is expected to lead to an increase in the demand for passive fire protection coatings. Oil & gas and transportation are the other industries which demand passive fire protection coatings.

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The intumescent coatings type fire protection coatings segment accounted for the largest share of the passive fire protection coatings market in 2016

Intumescent coatings type fire protection coatings was the largest type segment of the passive fire protection coatings market, in terms of value in 2016. This high market share is mainly attributed to its usage across various applications, such as commercial buildings, restaurants, hospitals, colleges, residential buildings, skyscrapers, and offices, and the oil & gas industry, among others. The value market of intumescent coatings is higher as compared to cementitious coatings as, intumescent coatings are used in combination with cladding materials. Intumescent coatings require lower maintenance, improve durability, provide longer shelf-life, and also provide corrosion protection for steel structures in buildings. Hence, these properties of intumescent coatings are expected to foster the growth of these type of coatings in the passive fire protection coatings market.

The water-based technology of fire protection coatings accounted for the largest share of the passive fire protection coatings market in 2016

The water-based technology segment of the passive fire protection coatings market accounted for the largest share, in terms of both, value and volume, in 2016. Water-based fire protection coatings are extremely safe as they do not contain harmful solvents, are low odor and have low VOC emissions. These are developed to enable customers to meet the stringent emission standards set by various agencies, such as, Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) and the Environmental Protection Agency (EPA). Also, these water-based coatings can withstand high humidity levels during application. The above factors are fueling the demand for the water-based technology in the passive fire protection coatings market.

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The market for fire protection coatings in the building & construction industry is expected to grow at the highest CAGR during the forecast period

The building & construction industry is expected to register the highest growth, in terms of both, value and volume during the forecast period. Fire protection coatings are used in buildings owing to the various benefits that these provide. These coatings prolong the time period of damage that could be caused, providing ample time to evacuate a building in case of fire. Moreover, these also help in the protection of firefighters while controlling the fire and hence help reduce damage to a structure and loss of assets.

Building & construction is one of the major applications of passive fire protection coatings. These are used in construction activities to protect buildings to enable withstanding fire. Such coatings are applied so that the steel structures used in building & construction can withstand a fire and prevent the steel from reaching the critical temperature which could lead it to collapse. Passive fire protection coatings are mainly used in high rise buildings, sports stadiums, residential, and commercial construction.

The passive fire protection coatings market in the Asia-Pacific is expected to grow at the highest CAGR during the forecast period

The Asia-Pacific is the largest market for passive fire protection coatings, in terms of both, value and volume, and is expected to be the fastest-growing region. Increasing industrialization and end-use industries are expected to lead to an increase in the demand for passive fire protection coatings in this region. The booming construction industry is expected to drive the demand for passive fire protection coatings in buildings in the public and private sectors in this region. The regulations in this region are a driver for the passive fire protection coatings market. Moreover, the rising middle-class population coupled with increasing consumer spending has further contributed to the high demand in Asia-Pacific countries, such as China, Japan, and India.

Key players in the passive fire protection coatings market

Key players operating in the passive fire protection coatings market include Akzo Nobel (The Netherlands), PPG Industries (US), The Sherwin-Williams Company (US), Promat International (Belgium), Carboline (US), Hempel A/S (Denmark), KANSAI PAINT (Japan), Nullifire  (UK), Jotun (Norway), and Teknos Group (Finland).

Extrusion Coating Market by Material Type, Substrate, and Region - Global Forecast to 2022

The report "Extrusion Coating Market by Material Type (LDPE, EVA, PP), Substrate (Paper & Paperboard, Polymer Films, Aluminum Foil), and Region - Global Forecast to 2022", The extrusion coating market was valued at USD 4.10 Billion in 2016 and is projected to reach USD 5.64 Billion by 2022, at a CAGR of 5.5% during the forecast period. In this study, 2016 has been considered as the base year and 2017 to 2022 as the forecast period for estimating the market size for extrusion coating. The growth of the extrusion coating market across the globe is fueled by the high demand from the packaging industry and increasing global demand for extrusion coatings in Asia Pacific, South America, and Middle East & Africa region.

LDPE is the largest segment of the extrusion coating market and is projected to grow at the highest CAGR from 2017 to 2022.

LDPE is of great importance due to its easy processing, higher melt strength, and superior optical properties in comparison with linear polyethylene. It has a good moisture barrier and sealability properties and hence is used in applications such as liquid packaging, food packaging, folding carton, and others. It is resistant to impact, moisture, chemicals, and is recyclable. LDPE is the largest and fastest-growing type segment of polymers used in the extrusion coating market. The growing application of LDPE in various end-use industries such as packaging, automotive, building & construction, medical & pharmaceutical, consumer goods, and others is expected to drive the extrusion coating market in the coming future.

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Though the extrusion coating market is expected to grow at a fast pace across the globe, the increasing carbon footprint due to the use of polymer resins is a major restraint toward the growth of the extrusion coating market. Polymers used in extrusion coatings are LDPE, EVA, PP, and others. Processing these polymers results in harmful byproducts generated during the processing which could also lead to an increase in carbon footprint.

Among substrates, the paper & paperboard segment is projected to lead the extrusion coating market from 2017 to 2022.

Paper & paperboard is the largest substrate segment. This is due to the superior properties of paperboard such as lightweight, recyclability, low cost, and environment-friendliness. Paper & paperboard is used for packaging various food items such as snacks, vegetables, and others. These factors are expected to drive the growth of the paper & paperboard segment.

The Asia Pacific region is the largest market for extrusion coating across the globe.

Asia Pacific is the global forerunner in the extrusion coating market, in terms of value and volume, and this trend is expected to continue till 2021. Countries in this region such as China, India, Japan, South Korea, and Indonesia are witnessing significant increase in the use of extrusion coatings in the packaging segment of the food & beverages industry. The growth of the Asia Pacific extrusion coating market is also attributed to the rapid economic growth and increasing population that is driving the demand for extrusion coating materials from various end-use industries in this region. China is the fastest-growing market and this trend is estimated to continue till 2022.

There are a few global players operating in the extrusion coating market. These companies are actively investing in various strategies, such as expansions, new product launches, mergers & acquisitions, and joint ventures to increase their market shares to further strengthen their position in the extrusion coating market. Dow Chemical (US), Exxon Mobil (US), Borealis AG (Austria), Celanese Corporation (US), Chevron Phillips (US), DuPont (US), LyondellBasell Industries Holdings B.V. (US), Qenos Pty. Ltd. (Australia), and SABIC (Saudi Arabia) are the leading players in the extrusion coating market who have adopted various organic and inorganic strategies to ensure their growth in this market.