Epoxy Resins Paints Market is Anticipated to Witness High Growth Owing to Rising Construction and Infrastructure Development Projects

 

The epoxy resins paints market is primarily driven by growing construction activities and infrastructure development projects across both developed and emerging economies. Epoxy resins paints offer superior properties such as corrosion and chemical resistance, abrasion resistance and waterproofing which makes them suitable for use in surfaces exposed to harsh environmental conditions. Some key advantages of epoxy paints include high adhesion to substrates, thermal and mechanical stability, and excellent durability. The rising needs for protective and durable coatings in industries such as construction, automotive, marine and industrial machinery has been propelling the demand for epoxy resins paints.

The Global epoxy resins paints Market is estimated to be valued at US$ 13.62 Billion in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the epoxy resins paints are Momentive Performance Materials, Kukdo Chemical, Huntsman Corporation, The Dow Chemical Company, Atul Ltd, Sika AG, Cytec Industries Incorporation, DuPont, 3M, BASF SE, Aditya Birla Chemicals Ltd, NAMA Chemicals, LEUNA-Harze GmbH, and Spolchemie A.S. Epoxy resins paints manufacturers are focusing on strategic mergers and acquisitions to expand their global footprint.

There is high demand for protective and durable coatings from industries such as oil & gas, marine, automotive, aerospace, etc. This provides numerous growth opportunities for players in the epoxy resins paints market.

Key players are investing heavily in research & development to develop new epoxy resins paints products with enhanced properties. Players are also targeting emerging markets in Asia Pacific and Latin America for global expansion owing to rising construction activities in these regions.

Market Drivers
The rising construction and infrastructure development activities around the world is one of the key drivers propelling the demand for epoxy resins paints. Developing economies are witnessing heavy investments in commercial buildings, roads, bridges, ports etc. which require durable protective coatings.

Higher performance benefits of epoxy resins paints such as high mechanical strength, resistance to wear & tear and corrosion under harsh environmental conditions is also fueling their demand compared to other traditional paints across industries.

Market Restraint
The high production cost of epoxy resins due to costly raw materials is one of the major factors restraining the market growth. As epoxy resins are derived from non-renewable petroleum sources, fluctuations in crude oil prices significantly impact the production cost.

Segment Analysis
Coatings sub-segment of the epoxy resins paints market is one of the dominant segments owing to growing demand for coatings from end use industries such as construction and automotive. Epoxy coatings are widely used in the construction industry for flooring, roofing, and other structural applications due to properties like durability, high strength and resistance to chemical and corrosion. In the automotive industry as well, epoxy coatings find major usage for underbody protection, primer application and other refinishing purposes. Their properties of adhesion, wear resistance and ability to withstand harsh environmental conditions make them very suitable for such heavy duty applications.

Global Analysis
Regionally, Asia Pacific is expected to witness the fastest growth in the epoxy resins paints market during the forecast period. This is mainly attributed to ongoing infrastructure development activities and rising automotive production in major country economies of China, India. High economic growth rate coupled with expanding middle class population in the region is propelling demand for various end use industries which uses epoxy resins paints. Countries like China, Japan, India dominate the regional market backed by their large manufacturing capacities and presence of key paints manufacturers. North America and Europe are established markets and are expected to maintain stable growth over the coming years supported by recovery in construction activities post COVID 19 pandemic in these regions.

Comments

Post a Comment

Popular posts from this blog

Blowing Agents in Action: Enhancing Sustainability and Performance in Modern Engineering

Image
  Blowing Agents: Unleashing the Power of Expansion in Materials Blowing agents are a remarkable class of chemical compounds that play a pivotal role in various industries, revolutionizing the way materials are manufactured and utilized. These agents are essential additives employed to induce controlled expansion in materials, leading to the creation of diverse products with unique properties and applications. From lightweight foams in packaging to insulating materials and beyond, blowing agents have become indispensable in modern manufacturing processes. 1. Understanding Blowing Agents: Blowing agents are substances designed to generate gas when subjected to specific conditions, such as heat, pressure, or chemical reactions. The produced gas forms bubbles within the material matrix, resulting in a cellular structure with reduced density. This cellular structure not only imparts lightness to the material but also enhances its thermal and acoustic insulation properties. 2. Versatil...
Read more

Multi-Depth Corrugated Box Market Trends 2023 - Industry Insights, Competition Analysis, Growth Rate and Forecast by 2030

Image
  A multi-depth corrugated box is a type of shipping or storage box that has the ability to be adjusted to different depths, allowing for greater flexibility and efficiency in packaging and shipping. This type of box is made of corrugated cardboard, which consists of a fluted layer sandwiched between two flat layers. Multi-depth corrugated boxes are typically made with a series of perforations or scores that allow the box to be easily adjusted to different depths. For example, a box with a height of 10 inches might have perforations at 2-inch intervals, allowing it to be adjusted to a depth of 2 inches, 4 inches, 6 inches, 8 inches, or 10 inches, depending on the specific needs of the user. The advantages of using multi-depth corrugated boxes include reduced inventory costs, improved packing efficiency, and better use of storage space. By using a single box that can be adjusted to different depths, businesses can reduce the number of different box sizes they need to stock and simp...
Read more

Acid Pickling Roll Market Growth Accelerated by Adoption of Anti-Rust Acid Pickle Rolls

Image
  Acid pickle rolls help remove scale, rust or oxide films from metallic surfaces and accurately prepare them for subsequent processing such as coating or plating to improve corrosion resistance. The demand for acid pickling rolls have increased in various end-use industries such as automotive, oil & gas, marine, energy, and general engineering to enhance product durability. The global Acid Pickling Roll Market is estimated to be valued at US$ 1,167 Mn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The growing adoption of anti-rust acid pickling rolls to increase product lifespan across various corrosion prone industrial applications has accelerated the growth of the acid pickling roll market. Acid pickling rolls equipped with advanced rust removal properties efficiently prepare metallic surfaces and ensure long term corrosion protection. Major mar...
Read more