Acrylic Protective Coating Market- Competitive Landscape
The Global Acrylic Protective Coating is a highly mature market driven by flourishing growth in building & construction industry, along with the growing transportation sector. PPG Industries, Arkema SA, Wacker Chemie AG, SIKA AG, RPM International Inc. are the substantial manufacturers in this market. Almost all of these market participants are adopting the expansion and product launch tactic of their production capacities to strengthen their market position. Growing manufacturing industries, and continuous collaborations and agreements between manufacturers, distributers, and marketing firms are key market forces operating in the market for the growth of the demand for Acrylic Protective Coating. Considering these trends, the Global Acrylic Protective Coating Market is likely to witness considerable competition over the forecast period of 2017-2023.
Industry/ Innovation/ Related News:
July 25, 2016-PPG Industries, Inc. has introduced AQUACRON® 200 Series coating, a waterborne acrylic urethane. The product line is dedicated to an exterior of building products that offers robust protection for wood, fiber glass, plastic, vinyl and composite substrates. The coating also can be formulated with heat-reflective pigments to enhance the durability and appearance of heat-sensitive substrates such as vinyl and polyvinyl chloride (PVC). The development may propel growth in demand for the product in construction sector.
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March 14, 2016- WACKER introduced the new acrylic-ester-based PRIMIS® line to the Middle East region at Middle East Coatings Show 2016.The product comprises binders and additives for advanced, high-value paints and architectural coatings is taking the opportunity of this year’s to the region to PRIMIS® AF 1000, the new line’s first product for outdoor applications, combines organic and mineral components to deliver a binder with a completely novel property profile. This is going to help the company fetch long lasting growth opportunities held by construction industry in this region.
Acrylic protective coating Market–Market Overview
According to the leading research organizations the Global Protective Coating Market is growing at considerable CAGR to reach ~USD 23 billion by the end of 2023 by expanding at over 10% of CAGR. Growing demand for the product is attributed to rising consumer sentiments in favor of protecting their devices and equipment from damage caused by thermal, corrosive and impact action. The major benefit of such type of protective coating is that it increase the life span and durability of the material or an object. The product find its applications in diverse industries such as building & construction, oil & gas, automotive, marine, aerospace, mining, industrial, and energy sector. The acrylic coating accounts for approximately 25% share of the global paints and coatings market with its share continuously rising over the last decade, which is likely to propel growth of the market during the study period. Scope of the applications in the Global Protective Market is continuously increasing with the flourishing end use industries such as automotive, aerospace, and construction. Need of the protective coating in numerous industrial uses such as coating on tools, equipment, and end decorative is projected to be the major demand driver in the market. In addition to this, the use of acrylic protective coating has increased in number of industrial applications in a bid to protect machineries and equipment which function in harsh environment. This, in turn, is propelling the growth in demand of the product. However the market exhibit some bottlenecks which are needed to be considered, including the stringent regulatory measure put into effect by mature western economies, regarding VOC emissions and the rising costs of raw materials.
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