The global epoxy coatings market size was valued at around USD 34.55 billion in 2020. The market is expected to rise from USD 36.53 billion in 2021 to USD 52.13 billion by 2028 at a CAGR of 5.2% during the forecast period 2021-2028. Fortune Business Insights™ has mentioned these insights in its latest research report titled, “Epoxy Coatings Market, 2021-2028.”
Segments
Type, Application, and Region are Studied
Based on type, the market is segregated into solvent-based, water-based, and powder-based.
In terms of application, the market is segmented into transportation, construction, industrial, and others.
With respect to region, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa are studied for the market.
Report Coverage
The report is prepared painstakingly through secondary and primary sources. The use of top-down and bottom-up approaches further validates the veracity of the research report. Qualitative and quantitative analysis has also been included to provide a birds-eye-view. We have delved into SEC filings, annual reports, and government websites to validate the report’s authenticity.
Drivers & Restraints
Bullish Demand from the Construction Sector to Accentuate Market Growth
Amidst prevailing circumstances of the COVID-19 pandemic, the construction sector is expected to exhibit strong demand for epoxy coatings. The durability attribute of these coatings has encouraged end-users to increase investments in the portfolio. Prominently, commercial and industrial applications, including retail stores, industrial plants, hospitals, and manufacturing facilities have shown immense traction for the marker. Further, the penetration of the compound across warehouses and factories for ease of cleaning, aesthetics, and resistance to corrosive liquids will foster the epoxy coatings market growth.
However, the high cost of the coating compound and rigorous regulations are expected to dent the industry growth during the forecast period.
Information source :
https://www.fortunebusinessinsights.com/epoxy-coating-market-106521
