Global Epoxy Coatings Market 2021 (Includes Business Impact of COVID-19)

  • TBI260510
  • September 16, 2021
  • Global
  • 149 pages
  • Market.US
                                          

Report updated on 11th September, 2021: Global Epoxy Coatings Market 2021 (Includes Business Impact of COVID-19)

Global Epoxy Coatings Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global epoxy coatings market report has been segmented on the basis of technology, application, and region. Request Covid - 19 Impact The global Epoxy Coatings market size was valued at USD$ 29.59 billion in 2020 and is projected to reach UDS$55.31 billion by 2030, and is anticipated to expand at a CAGR of 6.34% over the forecast period from 2020 to 2030.

Epoxy Coatings Market: Introduction

Epoxy coatings are made by mixing polymine hardener and epoxide resin by a curing chemical process. Formulation of epoxy coatings is selected and combined dependent upon performance requirement for end product. Moreover, mixture ratio of epoxy with hardener is changed for different products and thus defines efficiency of coatings. Selection of epoxies depends upon factors such as temperature, type of substrate, surface preparation, environmental exposure, humidity, application time, induction time, and others. Epoxy coating offer hard, chemical, and water resistant finish to final product. Epoxy coatings offers various properties such as flexibility, corrosion resistance, and superior adhesion used in various end-use industries including industrial, marine, automotive, and others. Strict environmental policies are adopted in various countries to control down pollution and Volatile organic compounds (VOCs) emission.

Epoxy Coatings Market: Dynamics

Increasing adoption for epoxy coatings across end-use industry such as construction and paint and coating a factor expected to drive the global epoxy coatings market growth. Growing demand of epoxy coatings from automotive and transportation industries is among additional factor projected to drive the global epoxy coatings market growth. Increasing adoption of these coating products improve the shelf life of structural steel materials and rising demand from paints and coating industry owing to its properties including superior resistance to abrasion, heat, UV light, toughness, and improved dimensional stability. Moreover, excellent adhesion to different substrate surfaces including glass, metal, and fiber. These are additional factors estimated to drive the global market growth. In addition, stringent government regulation related to emission standard are additional factors expected to boost the global market growth. However, low performance in the exterior applications and sluggish growth in developing economics are factors expected to limit the global epoxy coatings market growth.

Epoxy Coatings Market: Segment Analysis

Among the technology segments, the powder-based segment is expected to register moderate revenue share in the global epoxy coatings market, owing to its non-VOC emission properties and high demand from various applications such as transportation, construction, and industrial sectors. They are utilized in various end-use applications as it controlled under high temperature. The revenue of the powder-based segment is projected to register highest CAGR. Among the application segments, the construction segment is projected to register highest revenue share in the global epoxy coatings market, owing to increasing demand from commercial, residential, and industrial infrastructure sector and enhanced aesthetic appearance and availability of product meeting various environmental regulations. The revenue of the construction segment is projected to register highest CAGR.

Epoxy Coatings Market: Region Analysis

The Asia Pacific market is projected to account for moderate revenue share in the global epoxy coatings market. The Asia Pacific epoxy coatings market is anticipated to register fastest revenue growth, due to high growth in the construction, paint and coatings, and automotive and transportation industries.

Below are the active patents related to Epoxy Coatings Market.

Patent Number: US7037958B1 Epoxy coating Abstract This invention concerns an epoxy coating for use as a non-skid surface for applications such as the deck of an aircraft carrier. The epoxy coating can be formulated from (a) an amine curing agent, (b) an epoxide-containing toughening agent such as a polysulfide and/or a polythioether, (c) an epoxy resin, (d) a rubber toughening agent, and (e) an optional fire retardant, a glass fiber thixotrope and impact toughening agent, an optional pigment, an optional corrosion inhibitor, an optional moisture penetration inhibitor, an optional ultraviolet light stabilizer, an optional abrasive aggregate, or a combination thereof. Application File Date: 2003-10-10 Application Granted Date: 2006-05-02 Current Assignee: Texas Research International Inc Patent Number: CN102260451A Solvent-free epoxy glass flake coating and preparation method Abstract The invention discloses a solvent-free epoxy glass flake coating and a preparation method. The coating is used for splash zones of offshore platform jackets to improve the anticorrosion capacity of steel pipes and prolong the service life of the steel pipes. The preparation method comprises the following steps of: adding a reactive diluent 660A into an epoxy resin, adding an organic bentonite rheological aid 881-B, an EP 2440 adhesion promotion resin, silicone oil, carbon black, titanium white and aluminum trippolyhosphate, mixing uniformly, grinding, adding glass flakes, and stirring uniformly to form solution A; forming solution B by using an epoxy curing agent H633; and mixing the solution A and the solution B to obtain the solvent-free epoxy glass flake coating during use. Solvents are not volatilized in the curing process, the coating is slightly shrunk, and the solvent-free epoxy glass flake coating has a compact structure and high permeability resistance; moreover, the solvent-free epoxy glass flake coating has extremely strong cohesive force and good anticorrosion performance. Application File Date: 2011-07-08 Application Granted Date: 2013-05-01 Current Assignee: CHINA PETROLEUM GROUP ENGINEERING TECHNOLOGY INSTITUTE China National Petroleum Corp CNPC Offshore Engineering Co Ltd

Global Epoxy Coatings Market Segmentation:

Segmentation by Technology:
  • Solvent borne
  • Water-borne
  • Powder-based
Segmentation by Application:
  • Construction
  • Paint and Coatings
  • Automotive and Transportation
  • General Industrial

Key Market Players included in the report:

  • Akzo Nobel NV (Netherlands)
  • Axalta Coating Systems
  • BASF SE (Germany)
  • Berger Paints India Limited
  • Hexion (US)
  • KANSAI PAINT CO.LTD
  • Nippon Paint Company Limited
  • RPM International Inc. AkzoNobel N.V.
  • The Sherwin Williams Company
  • Tikkurila (Finland)
  • Valspar (US)

Below are the key development related to Epoxy Coatings Market in 2020 and 2021.

August 2021: The Protech Group Acquires Excalibur Paints & Coatings Ltd. Excalibur Paints specializes in protective coatings development and manufacturing. The Protech Group announced that it has reached an agreement to acquire the liquid coatings business of Excalibur Paints & Coatings Ltd. The acquisition was officialized on June 4, 2021. Manufacturing equipment will now be relocated within existing Protech Group facilities in the US. Excalibur Paints formulations and products will be integrated under the Protech Group portfolio of liquid coatings brands. Based in Wichita Falls, TX, Excalibur Paints is a protective coatings development and manufacturing company with over 20 years of experience that specializes in production of numerous unique, special and environmentally friendly products. The company’s product line includes epoxy systems, alkyd coatings, corrosive-inhibitive primers, polyurethanes and chemical resistant linings. Source May 2021: Aditya Birla Advanced Materials Invests in Epoxy Resins, Curing Agents Business. Advanced Materials business has planned to invest towards increasing business capacity by ~125 KTPA through a brown field expansion at its Vilayat, Gujarat, India location. It will include standard & specialty epoxy products along with curing agents. This is in addition to the existing manufacturing sites at Rayong – Thailand & Russelsheim - Germany. The Aditya Birla Group – Advance Material business will continue to play a proactive role in growing & supporting the demand growth. Source April 2021: Sika Expands Production Capacity in Qatar. Company also started manufacturing epoxy resins. In Qatar, Sika has expanded its production capacity for concrete admixtures and has started manufacturing epoxy resins, which are key components in high-quality floor coverings and adhesives. Source January 2021: PPG to Acquire Coatings Manufacturer VersaFlex. PPG (NYSE:PPG) announced that it has reached a definitive agreement to acquire VersaFlex, a manufacturer specializing in polyurea, epoxy and polyurethane coatings for water and waste water infrastructure, flooring, transportation infrastructure, and industrial applications. VersaFlex is a portfolio company of DalFort Capital Partners. Source March 2020: Huntsman Announces CVC Thermoset Specialties Acquisition. Huntsman Corporation announced its agreement to acquire CVC Thermoset Specialties, a North American specialty chemical manufacturer serving the industrial composites, adhesives and coatings markets. CVC Thermoset Specialties is part of Emerald Performance Materials LLC which is majority-owned by affiliates of American Securities LLC. CVC Thermoset Specialties has annual revenues of approximately $115 million with two manufacturing facilities located in Akron, Ohio, and Maple Shade, NJ. Source March 2020: Huntsman Announces the Acquisition of CVC Thermoset Specialties, Expanding its Specialty Chemicals Portfolio. Huntsman Corporation (NYSE: HUN) announces its agreement to acquire CVC Thermoset Specialties, a North American specialty chemical manufacturer serving the industrial composites, adhesives and coatings markets. CVC Thermoset Specialties is part of Emerald Performance Materials LLC which is majority owned by affiliates of American Securities LLC. Source

Table of Contents
Chapter 1. Methodology and Scope                  1.1. Research Methodology                  1.2. Research Scope & Assumptions                  1.3. List of Data SourcesChapter 2. Executive SummaryChapter 3. Global Epoxy Coatings Market Outlook                  3.1. Market Segmentation                  3.2. Market Size and Growth Prospects, 2016 - 2027                  3.3. Value Chain Analysis                  3.4. Market Dynamics                      3.4.1. Market driver analysis                      3.4.2. Market restraint analysis        
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