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Epoxy Surface Coatings Market Size
Epoxy Surface Coatings Market size is poised to record remarkable revenue gains from 2024 to 2032 on account of the rising number of building and construction activities worldwide.
As per data published by Upmetrics in 2023, the global residential construction market was projected to reach $8.3 trillion by 2032, reflecting a steady annual growth rate of 4.8%. Rapid urbanization and infrastructure development projects have fueled the demand for durable and high-performance coatings to protect surfaces from harsh environmental conditions. Additionally, the increasing adoption of epoxy coatings for flooring, walls, and ceilings due to their superior properties such as chemical resistance, durability, and aesthetic appeal is augmenting market growth.
Epoxy Surface Coatings Market Trends
The advent of green infrastructure is accelerating the utilization of epoxy flooring since it is eco-friendly. The green buildings and sustainable infrastructure incorporate recyclable materials to reduce the overall carbon footprint, thereby favoring the epoxy surface coatings industry outlook. Moreover, innovations in construction methods and materials improve efficiency, reduce costs, and accelerate project timelines, fostering growth in the residential construction sector.
Epoxy Surface Coatings Market Analysis
The automotive sector is anticipated to generate significant demand during 20254 and 2032, owing to the mounting demand for coatings across auto-repair shops. Epoxy coatings are applied to the vehicle bodies due to their anti-corrosion properties and protection from UV light damages. These coatings are cost-effective, stain resistant, and ensure hassle-free maintenance. With the surging demand for modern automobiles, the segment growth is expected.
The solvent-based technology segment is poised to grow substantially through 2032, as they offer excellent adhesion, chemical resistance, and durability, making them suitable for a wide range of applications across industries. Although environmental regulations have led to the adoption of water-based and powder coatings in some regions, these formulations remain preferred in certain applications due to their superior performance characteristics and ease of application, particularly in demanding environments where durability is paramount.
Asia Pacific epoxy surface coatings industry is poised to record significant expansion from 2024-2032 led by the booming automotive and construction sectors. The countries, such as India and China with the world’s largest populations, are driving the need for adequate infrastructure. The increasing construction of residential as well as commercial properties, in consort with growing vehicle sales are creating lucrative opportunities of the market players in the region.
Epoxy Surface Coatings Market Share
Epoxy surface coatings industry players include:
- Axalta Coating Systems
- Sherwin-Williams Company
- The Valspar Corporation (Sherwin-Williams)
- PPG Industries
- RPM International
- Sika AG
- BASF
- Kansai Nerolac (Kansai Paint)
- Henkel
- Akzo Nobel
These companies are focusing on new deals, mergers, and acquisitions to expand their business footprint.
Epoxy Surface Coatings Industry News
- In 2023, Sika AG the Swiss company, saw a 5.6% sales uptick during the initial nine months, driven by its acquisition of Germany's MBCC. Additionally, the company reaffirmed its full-year sales projection.
- In November 2023, Induron Protective Coatings unveiled Novasafe, a furfuryl-modified, thick-film, ceramic-filled novolac epoxy, designed to withstand the harshest conditions found in treatment plants.