2K Protective Coatings Market by Resin Type (Epoxy, Polyurethane, Alkyd, Acrylic, and Others), End-use Industry (Construction, Oil & Gas, Marine, Water and Waste Treatment, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026604 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 9 billion mark in 2022 and is expected to hit US$ 13.5 billion by 2030, recording a CAGR of 4.5% during the forecast period.

2K protective coatings market has been significantly growing with the increasing their demand from various end-use industries

The demand for 2k protective coatings is increasing due to growing their use in different end-use industries such as construction, oil & gas, and others. 2K coatings based on polyurethane and epoxy resins offers a passive corrosion protection for many different applications in the oil & gas industry. Two-Component epoxy coatings are useful for immersion service on both concrete and steel and are easy to clean. They have excellent adhesion properties and protect against contaminate spills, chemical attack, and abrasion. The epoxy segment is expected to pace up with the growing use of epoxy resin in various application fields. Further, other segments such as polyurethane, alkyd, and acrylic are also expected to gain traction during the forecasted year.

Within the report, the market is segmented into resin type, end-use industry, and geography. By resin type, the market is further segmented into epoxy, polyurethane, alkyd, acrylic, and others. On the basis of end-use industry, the market is segmented into construction, oil & gas, marine, water and waste treatment, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Development of biobased 2K protective coatings

The resins made from renewable raw materials are experiencing a high demand, due to the trend to reduce CO2 emissions and switch to CO2-neutral renewable products. The resin produced from renewable raw material contributes to the production of more sustainable coatings. Further, the market players are also focusing on developing high quality biobased resins and products. BASF SE offers bio-based polyol which is used for manufacturing low-emission 2K polyurethane coatings for interior and exterior applications.

High demand for 2K protective coatings from construction and infrastructure industry

In the construction industry, 2K protective coatings are highly used for wood finishes, flooring, interior and exterior walls, doors, ceilings, etc. applications. The construction and infrastructure industry is growing rapidly across the globe. Rising residential and commercial construction activities, increasing infrastructural development, etc., encourage the utilization of 2K protective coatingsIn Asia Pacific region, rising population is putting a strain on current infrastructure, necessitating the development of new bridges, residential structures, and roadways. All these factors are fuelling the market growth.

Recent strategic developments in 2K protective coatings market

The 2K protective coatings market has undergone several significant developments, and a few of these have been mentioned below:

  • In 2021, Axalta introduced Imron Industrial 2100 HG-C high-gloss clearcoat into its existing high-performance Imron Industrial portfolio in North America. Imron 2100 HG-C is a 2.1 Volatile Organic Compound (VOC), two-component, low Hazardous Air Pollutants (HAPs) polyurethane clearcoat based on proprietary Axalta resin technology.
  • In 2022, HMG Paints launched the new CFB 2K System, a 2K high solids polyurethane coating that provides a high gloss finish to vehicle from the ACE and haulage industry.

The 2K protective coatings market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. PPG Industries, The Sherwin-Williams Company, Jotun, Sika AG, and AkzoNobel N.V. are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • 2K protective coatings related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Applications of 2K protective coatings
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Resin Type
  • Epoxy
  • Polyurethane
  • Alkyd
  • Acrylic
  • Others
  • End-use Industry
  • Construction
  • Oil & Gas
  • Marine
  • Water and Waste Treatment
  • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
  • PPG Industries
  • The Sherwin-Williams Company
  • Jotun
  • Sika AG
  • AkzoNobel N.V.

The List of Companies
- PPG Industries
- The Sherwin-Williams Company
- Jotun
- Sika AG
- AkzoNobel N.V.

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