Latest Report on the Global Performance Coating Market
MRRSE recently published a market study that offers critical insights related to the growth prospects of the Performance Coating market during the forecast period (2019-2029). The report takes into account the historical and current market trends to evaluate the top factors that are likely to influence the growth of the market in the upcoming years.
As per the report, the Performance Coating market is poised to grow at a CAGR of ~XX% during the assessment period primarily driven by a growing focus on product innovation, a surge in demand for the Performance Coating in the developed regions, and potential opportunities in the developing regions.
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The presented market study bifurcates the global Performance Coating market on the basis of geography, applications, and end-use industries.
The region-wise assessment of the Performance Coating market provides an in-depth understanding of the market dynamics in each region and various factors that are likely to impact market growth.
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The competitive outlook section touches upon the business prospects of some of the most established market players in the Performance Coating market. The company profiles of each company are included in the report along with data including revenue growth, production capacity, domestic and regional presence, product portfolio, and more.
The vast range of highly important fields using performance coatings is the key driver for the global performance coatings market. The marine and power sectors are likely to be important to the performance coatings market in the coming years, among others. The power sector is so firmly established in the global economic structure that it has been one of the first adopters of performance coatings, which ensure better protection for wires and other electrical instruments. The progressive development of the power sector to make services more reliable is likely to entail rising demand from the global performance coatings market.
The steady growth of the material sciences has been important for the global performance coatings market, as it has provided the market an easy channel for innovations. The steady government support and private investment in the sector is likely to ensure steady growth of the performance coatings market.
Global Performance Coating Market: Segmentation
Asia Pacific except Japan (APEJ) is the dominant market for performance coatings and is set for steady dominance due to the presence of a booming manufacturing sector in the region. Countries such as China, India, Thailand, Vietnam, and Myanmar are set to emerge as major manufacturing centers for various sectors in the coming years, with China and India likely to drive the APEJ market on significantly. This will be a key driver for the performance coatings market in Asia Pacific except Japan, as performance coatings are likely to be ingrained as a key part of the manufacturing sector in the coming years. The APEJ performance coatings market is expected to exhibit a healthy CAGR of 6.2% in the 2017-2022 forecast period.
Various types of resin used to produce performance coatings include epoxy, polyurethane, polyester, and acrylic resin. Epoxy resin is the dominant resin in the global performance coatings market. The segment was valued at US$29.2 bn in 2017, accounting for 37% of the global performance coatings market.
Global Performance Coating Market: Competitive Dynamics
Leading companies in the global performance coatings market include AkzoNobel NV, Masco Corporation, Hempel A/S, Jotun A/S, The Valspar Corporation, Axalta Coating Systems Ltd., Nippon Paint Holding Co. Ltd., BASF SE, and PPG Industries Inc.
Essential findings of the report:
- Effective and impactful marketing strategies adopted by market players
- Region and country-wise assessment of the different market segments
- Growth opportunities for new market players in different regions
- Y-o-Y growth of the global Performance Coating market over the forecast period
- Key developments in the current Performance Coating market landscape
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The report aims to address the following queries related to the Performance Coating market:
- What are the most notable trends in the Performance Coating market in 2019?
- How can prospective market players penetrate the Performance Coating market in region 3?
- What are the different factors that could impede the growth of the Performance Coating market during the forecast period?
- Which market players are expected to launch new products in the Performance Coating market?
- How are companies marketing their products?