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2K Protective Coatings Market

2K Protective Coatings Market

2K Protective Coatings Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

2K Protective Coatings Market
FACT5857MR

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.

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.

2k protective coatings market resin type

An Adaptive Approach to Modern-day Research Needs

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.

2k protective coatings market competition

Competitive Landscape

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.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Europe
  • Latin America
  • South Asia
  • East Asia
  • MEA and Oceania

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Italy
  • Nordic
  • BENELUX
  • South Africa
  • GCC Countries
  • Turkey
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand

Key Segments Covered

  • Resin Type
  • End User
  • Application
  • Region

Key Companies Profiled

  • Akzonobel N.V.
  • PPG Industries
  • The Sherwin Williams Company
  • Jotun A/S
  • Hempel A/S
  • Chukogu Marine Paints Ltd.
  • Nippon Paints Holdings Co. Ltd.
  • Kansai Paint Co. Ltd.
  • Sika AG
  • RPM International Inc.
  • Axalta Coating Systems, LLC
  • Dulux Group
  • BASF SE
  • Parker Hannifin Corp.
  • Berger Paints India Ltd.
  • Tnemec Company, Inc.
  • Cloverdale Paint Inc.
  • Teknos Group OY
  • Benjamin Moore & Co.
  • Shawcore
  • Noroo Paint & Coatings Co. Ltd.
  • Premium Coatings and Chemicals Pvt. Ltd.
  • Weilburger Coatings GmbH
  • Guangdong Maydos Building Materials Limited Company
  • Fosroc, Inc.

Pricing

Available upon Request

Key Segments Covered

  • By Resin Type

    • Epoxy
    • Polyurethane
    • Alkyd
    • Acrylic
    • Others
  • By End User

    • Oil & Gas Exploration
    • Petrochemicals
    • Marine
    • Cargo Containers
    • Power Generation
    • Water Treatment
    • Building and Infrastructure
    • Food and Beverage Production Units
    • Others
  • By Application

    • Abrasion Resistance
    • Chemical Resistance
    • Fire Protection
    • Heat Resistance
    • Corrosion Protection
    • Pipe Coatings
    • Tank Linings
  • By Region

    • North America
    • Europe
    • Latin America
    • East Asia
    • South Asia
    • Oceania
    • MEA

- FAQs -

By value, Fact.MR has projected a CAGR of around 5% for 2K protective coating sales during 2021-2031.
As per Fact. MR’s projections, South Asia and East Asian countries would experience the highest growth rate. Also, the markets in South Asia is expected to experience higher CAGRs.
Prominent players manufacturing 2K protective coating include Akzonobel N.V., PPG Industries, The Sherwin Williams Company, Jotun A/S, Hempel A/S, Chukogu Marine Paints Ltd., Nippon Paints, Holdings Co. Ltd., Kansai Paint Co. Ltd.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

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