Global Solid Epoxy Coating Market 2023-2030

Title: Global Solid Epoxy Coating Market Size, Share & Trends Analysis Report Market by End-User Verticals (Building and Construction, Automotive, Transportation, Industrial, and Other End-user Industries),Forecast Period (2023-2030).

The global solid epoxy coating market is anticipated to grow at a considerable CAGR of 13.3% during the forecast period. Solid epoxy coatings have become the mainstay element of the protective coatings industry due to their superior chemical and physical properties-epoxy coatings are excellent adhesives, corrosion-resistant, and possess high mechanical strength. The increasing demand for the solid epoxy coating from the end-user industries such as building & construction, transportation, packaging, consumer goods, and others is driving the global solid epoxy coating market.

A growing number of investments, infrastructural development across the globe, development of advanced vehicles, rising aerospace industry are some other factors that enhance the demand for these coatings is driving the growth of the market during the forecast period. Technological advancements in the coating resin are another major aspect that drives the growth of the market during the forecast period. However, the volatility experienced in the raw materials price will hamper the growth of the epoxy resins market during the forecast period. In addition to this, the adverse health effects caused by the toxic fumes released during the application of solid epoxy coating is also a major challenge for the adoption of the solid epoxy coating; which may restrain the market growth.

Segmental Outlook

The global solid epoxy coating market is segmented based on end-user vertical. Amongst the end-use industry segment of the global solid epoxy coating market, the building & construction industry segment is projected to hold a considerable share in the market. The segmental growth of the market is driven by an increased demand for the solid epoxy coating from the building & construction industry across the globe. Rapid urbanization, industrialization, and infrastructural development across the globe are some of the key aspects that contribute to the growth of the building & construction industry across the globe, which, in turn, encourages the demand for the solid epoxy coating market during the forecast period. On the other hand, the transportation industry is also likely to significantly contribute to the growth of the global solid epoxy coating market during the forecast period.

Regional outlook

The global solid epoxy coating market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). North America held considerable share in the global solid epoxy coating market. North America is expected to hold a major market share in the solid epoxy coating market during the forecast period. Well-developed consumer goods, automotive, aerospace, and building & construction industry is a major factor for the major market share in the region.

Moreover, Europe will also hold a significant market share during the forecast period. High disposable income, considerable export of automotive, significant expenditure in renewable energy are some of the major factors contributing to the market in the region.

The Asia-Pacific Region is Poised to Exhibit the Fastest Growth in the Global Solid Epoxy Coating Market

The Asia-Pacific region is poised to exhibit the fastest growth in the global solid epoxy coating market. This growth is primarily driven by the growing demand for solid epoxy coatings from the end-user industries in emerging economies such as China, India, and South Korea. These countries' rapid economic development has led to a surge in the demand for reliable and durable coating solutions.

The growing transportation industry's expansion in the region has also created a huge demand for solid epoxy coatings. China, in particular, stands out as the global leader in automotive production and sales. The Chinese Central Government has set ambitious targets, expecting the country's automotive output to reach 30 million units by 2020 and 35 million units by 2025. Furthermore, China holds a substantial share, about 30.0%, of the total vehicle market and 35% of the passenger vehicle market globally. These impressive statistics indicates immense opportunities for the coating resins market in the country. Similarly, the Indian automotive industry is also witnessing robust growth, supported by various government schemes and initiatives. With the increasing industrial activities, infrastructure development, and government support in the Asia-Pacific region, there is a favorable environment for the solid epoxy coating market to experience rapid growth in the coming years. The region's emergence as a major player in the market presents promising opportunities for manufacturers and suppliers in the coating industry.

Market Players Outlook

The major companies serving the global solid epoxy coating market include: Arkema SA, BASF SE, Bayer AG, Covestro AG, and Eastman Chemical Co. among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in January 2023, Sherwin-Williams Protective & Marine has introduced its new line of Heat-Flex CUI-mitigation coatings. The line includes Heat-Flex ACE (Advanced CUI Epoxy), which is an ultra-high-solids epoxy novolac developed with a functional chemical enhancement for CUI mitigation. The coating performs the best at mitigating CUI out of any other formulation available.

The Report Covers:

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global solid epoxy coating market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.