[FURL=https://www.industryarc.com/Research/Epoxy-Coatings-Market-Research-500177?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Epoxy Coatings Market[/FURL] Epoxy Coatings market size is forecast to reach US$30.5 billion by 2026, after growing at a CAGR of 5.2% during 2021-2026. Properties of epoxy coatings are versatile owing to which it is increasingly being used in various end-use industries. Globally, with the rising building and construction industry, the demand for commercial epoxy coatings in industrial flooring applications is also estimated to rise. Since these coatings provide extra-ordinary resistance to heat, corrosive chemicals, and UV light, as compared to polyurethane floor coating it is widely being preferred by the industrial finishers as epoxy surface coatings.Key Takeaways
Asia-Pacific region dominates the epoxy coatings market owing to the rising growth and increasing investments in the construction industry. For instance, according to the Department for Promotion of Industry and Internal Trade (DPIIT), till December 2020, FDI in the construction industry stood at US$ 23.99 billion.
The rising adoption of powder-based epoxy coating technology due to its low pollution and non-volatile organic compound emission properties is estimated to drive market growth in the upcoming years.
The increasing demand for water-borne coatings in various industries with properties such as high mechanical strength and toughness with electrical and thermal properties will drive the growth of the epoxy coatings market in the forecast period.
Increasing difficulties in the application process of the epoxy floor coatings is anticipated to create challenges for the growth of the epoxy coatings market in the projected period.
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Epoxy Coatings Market Segment Analysis – By Geography
Asia-Pacific region dominated the epoxy coatings market with a share of 45.6% in the year 2020. The Asia Pacific region is predicted to continue its dominance in the market during the forecast period due to the increasing requirement for epoxy coatings in developing countries such as China, Japan, India, and South Korea. China is expected to continue its dominance in the epoxy coatings market during the forecast period. This is due to the growth of the transportation and construction industries in the country.
Epoxy Coatings Market Drivers
Increasing Demand for Water-borne Coatings
Increasing Demand for Epoxy Coatings in Transportation Industry
Epoxy Coatings Market Landscape
Major players in the epoxy coatings market are BASF, Axalta Coating Systems, Berger Paints India Limited, Kansai Paint Company Limited, AkzoNobel N.V., PPG Industries Inc., Tikkurila Oyj, RPM International Inc., Nippon Paint Company Limited, The Sherwin Williams Company, and The Valspar Corporation.
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