About the Report
The 2K protective coatings market has been progressing at a rapid pace over the past few years. The main reason behind the growing market of 2K protective coatings in past few years is the continuously rising construction of residential, commercial buildings. Besides, construction projects in developing countries, the rise in the demand for maintaining durability, protection from acid rain & bad weather and the need for long time stability has further boosted the market of 2K protective coating globally.
Previously waterproofing solutions were applied to walls of commercial and residential buildings and floorings in bathrooms, kitchens, hotels, and swimming pools to prevent leakages and avoid moisture from deteriorating the structures. With these, waterproofing solution is not entirely successful because after few years it starts soaking water.
Apart from these, 2K protective coating is extremely helpful for marine projects, as marine industry are one of the fastest growing industries globally. 2K protective coating is used in the marine industry to protect marine projects from extremely tough environments including saltwater, temperature, water pressure and organic formulations.
Foremost objective of the report by Fact.MR on the 2K protective coating market is to pitch insights on the purchase growth scenario, demand generators, and development strategies in this space. The report provides a taxonomy elaborating on key segments.
The report also outlines visionary insights on the market dynamics, including the drivers, restraints, opportunities, trends, and pricing analysis, along with key success factors. Demand trends have been tracked in 15+ high-growth countries, pointing towards countries in North America holding the bulk of the share.
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Historical Trends Vs Future Market Projections
Historically from 2016 to 2020, the demand for 2K protective coatings has increased at around 4% CAGR, and the key factor assisting this growth include its advantages over traditional waterproofing coating methods.
2K protective coating layer don’t need much time to dry, it usually takes a shorter time compare to other coatings, other solutions start losing their coating after coming in contact with direct sunlight, it contains lower volatile organic compounds and it also enhances the glow and shine of the surface, thus the market is growing at a high pace.
The market of 2K protective coating is forecasted to expand at a CAGR of nearly 5% over the coming years (2021 – 2031). The major reason influencing the market growth is the growing demand for maintaining expensive projects in marine and construction sectors.
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Which Region Offers Larger Opportunity for 2K Protective Coating Manufacturers?
North America has been the key market for 2K protective coatings. The region accounted for around 31% of the global market share of 2K protective coatings in 2020. The region is expected to offer over US$ 1.3 Bn absolute dollar opportunity in the forecasted period (2021 – 2031).
The key reason for the highest market share of the region is its highly developed construction industry. North American construction industry is also one of the leading globally, which employs more than 12 Mn people. Growing demand for the construction of residential and luxury buildings in North America has surged the demand of 2K protective coatings.
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Why Epoxy Resin in 2K Protective Coating is More Preferred?
In resin type of 2K protective coating, the market is bifurcated into five segments including epoxy resin, polyurethane resin, alkyd resin, acrylic resin and others. The epoxy resin contributes the highest in the resin type segment of 2K protective market with around 38% market share globally. The reason for the demand for epoxy resin in 2K protective coating is the properties offered by epoxy resin can be enhanced by the customization process adding additives and modifiers to meet the required specification.
Epoxy resin offers protection from humidity, abrasion, water, acid, alkali and seawater. Due to these benefits, it makes protective coating well suited for use for metallic surface areas. Fusion bonded epoxy resin powder is used in the protection of heavy steel pipes in oil & gas industry.
The epoxy resin in 2K protective market is expected to grow even future in forecasted period (2021 – 2031). The market for epoxy resin is anticipated to expand at a CAGR of around 5.4%, while alkyd resin at a CAGR of 5.9%.
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How Has COVID-19 Affected the 2K Protective Coatings Market?
With the implementation of lockdown at the global level, industries are badly affected globally, due to the halt in business activities. Construction industries and real estate industries are badly impacted sectors globally. This has impacted the market growth of 2K protective coatings.
Companies are facing issues in the procurement of raw materials like chemicals, solution mixture and other particles from others countries due to the trade restriction between countries. Companies are also facing issues in delivering their products to their international clients.
The shortage of raw materials has forced companies to start looking for local opportunities for procuring the raw materials. However, even after a huge drop in the revenue in 2K protective coating market during the pandemic times, the growth of the market is expected to reach back to normalcy very soon.
Majority of the companies discussed in the report have focusing on investing to expand their business and launch of new product line in 2K protective coating market and continuously doing research and development. Some of the key development are:
- In 2021, AkzoNobel announced its partnership with Qlayers. Collaboration with Qlayer will open new possibilities in industrial coating product line for AkzoNobel.
- In 2021, Akzo Nobel N.V. acquired 100% shares of Industrias Titan S.A.U. (Titan Paints) to expand its paints business and it will help Akzo Novel to expand its business to Spain.
Similarly, recent developments related to companies manufacturing 2K protective coating have been tracked by the team at Fact.MR, which is available in the full report.
Historical Data Available for
US$ Mn for Value
Key Regions Covered
Key Countries Covered
Key Segments Covered
Key Companies Profiled
Key Segments Covered
By Resin Type
By End User
- Oil & Gas Exploration
- Cargo Containers
- Power Generation
- Water Treatment
- Building and Infrastructure
- Food and Beverage Production Units
- Abrasion Resistance
- Chemical Resistance
- Fire Protection
- Heat Resistance
- Corrosion Protection
- Pipe Coatings
- Tank Linings
- North America
- Latin America
- East Asia
- South Asia
2K Protective Coatings Market- Scope of Report
A recent study by Fact.MR on the 2K protective coatings market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the development of 2K protective coatings.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies operating in the 2K protective coatings market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of 2K protective coatings across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of 2K protective coatings during the forecast period.
Analysis on Market Size Evaluation
The market has been analyzed for each market segment in terms of volume (Tons) and value (US$ Mn). Market estimates at global and regional levels for 2K protective coatings are available in terms of “US$ Mn”. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a solution provider can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global 2K protective coatings market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include Porter’s five forces analysis and PESTLE analysis (political, economic, social, technology, legal and environment outlook), which are expected to have a momentous influence on the growth of the 2K protective coatings market during the forecast period.
Country-specific valuation on demand for 2K protective coatings has been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for emerging countries has also been included in the report.
In-depth Analysis on Competitive Landscape
The report sheds light on leading manufacturers of 2K protective coatings, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the manufacturing of 2K protective coatings has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
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