Rising Demand from Automotive Industry in Europe and Asia
The usage of epoxy coatings can be seen in both interior and exterior of vehicles, as they provide protection and aesthetics. Epoxy coatings are known for the protection of vehicle parts from aggressive environmental agents, such as sunlight, corrosion, acid rain, UV radiation, washing, blowing sand, etc. The European and Chinese automotive industries are at a growing phase. China is one of the major automotive manufacturers in Asia-Pacific on global scale. According to the China Association of Automobile Manufacturers, the market for automotive grew to 28 million vehicles in the year 2016. During the same year, the new car registrations in the European Union increased by 6% compared to the statistics in the year 2015.
Water-based Technology- the Fastest Growing Sector
The VOCs released from solvent-based coatings is the core reason for the switch of manufacturers to water-based coatings. The water-based coatings are increasingly replacing organic solvents. There are many regulations from several governments, which support water-based coatings. These are usually used in several applications, which include transportation, building and construction, and industrial applications. Water-borne coatings exhibit high mechanical strength and toughness along with electrical and thermal properties. The absence of Isocyanate, flammable constituents, costly ventilation systems makes water-based coatings as the first option.
Asia-Pacific to Lead among Other Regions
Asia-Pacific is the largest coatings market across the globe with a 45% share of the global epoxy coatings market. In the region, China, India, and Japan account for higher shares. China has a share of around 56% of the coatings demand in the region. The conversion of the paints and coatings manufacturers in to service providers makes it a highly productive option. The manufacturers are also providing the service of painting job as well; this is being done with the help of trained contractors as partners. India is to grow at a faster rate than China, thus providing new opportunities for the epoxy coatings market.
Notable Developments in the Market
- February 2018: AkzoNobel released new high build glass flake epoxy coatings for enhanced abrasion and corrosion protection.
- November 2017: The discussions for the acquisition of Axalta by Nippon Paint ends.
Reasons to Purchase this Report
- To understand the impact of end-user industries on the market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- To understand the dominating technology in the market
- Countries expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel)
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1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness - Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Increasing demand for water-borne epoxy coatings
4.1.2 Growth in Powder Based Epoxy Market Due to the Absence Of VOC
4.2.1 Stringent Regulation on VOC Emissions
4.2.2 Impact of Economic Slowdown in Chinese and Brazilian Economy
4.3.1 Introduction of Epoxies with Minimal or No VOC Emissions
5. Market Segmentation and Analysis
5.1 By Technology
5.2 By End-User Industry
5.2.1 Building and Construction
6. Regional Market Analysis (Market Size, Growth & Forecast)
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Australia & New Zealand
6.1.7 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.4 Rest of North America
6.3.2 United Kingdom
6.3.5 Rest of Europe
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.4 Rest of Middle East & Africa
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis
7.3 Strategies Adopted by Leading Players
8. Company Profiles (Overview, Products & Services, Financials**, Recent Developments, and Analyst View)
8.1 Advanced Environmental Services, Inc.
8.2 AkzoNobel N.V.
8.3 Aquapoxy Paint
8.4 Asian Paints Ltd.
8.5 Axalta Coating Systems, LLC
8.6 BASF SE
8.7 Berger Paints India Ltd.
8.8 Epoxy Coat
8.9 Euclid Chemical Co.
8.10 Graco Inc.
8.11 Kansai Paint Co. Ltd.
8.12 KOSTER American Corporation
8.13 Nippon Paint Co. Ltd.
8.14 PPG Industries
8.15 RPM International, Inc.
8.16 SML Marine Paints
8.17 Tennant Coatings
8.18 The Sherwin-Williams Company
8.19 The Valspar Corporation
8.20 Tikkurila OYJ
*List Not Exhaustive
**Subject to Feasibility & Availability on Public Domain
- Advanced Environmental Services Inc.
- AkzoNobel N.V.
- Aquapoxy Paint
- Asian Paints Ltd.
- Axalta Coating Systems LLC
- BASF SE
- Berger Paints India Ltd.
- Epoxy Coat
- Euclid Chemical Co.
- Graco Inc.
- Kansai Paint Co. Ltd.
- KOSTER American Corporation
- Nippon Paint Co. Ltd.
- PPG Industries
- RPM International Inc.
- SML Marine Paints
- Tennant Coatings
- The Sherwin-Williams Company
- The Valspar Corporation
- Tikkurila OYJ