Asia Pacific to offer lucrative growth opportunities for the Epoxy Primer Market

Posted by rohan on October 14th, 2019

The global Epoxy primer Market was at US$ 320 million in 2018 and is expected to register a CAGR of 21% throughout the forecast period to reach US$ 830 million by 2023. The epoxy primer forms a non-porous barrier between the environment and the surface on which it is applied, preventing corrosion and degradation.

Market Drivers and Restraints:

This market promises sustained growth during the analysis period. The increase in construction activity in developing countries is driving market growth. The desire for smooth walls with water-resistant coatings is encouraging the use of epoxy primers in the construction sector. Besides, growth in the automotive industry has contributed to an increase in sales of epoxy primers. 

The increase in offshore mining of gas and oil due to the recent rise in oil prices is also contributing to this market. The availability of waterproof colors threatens the market. The increase in labor costs and fluctuations in commodity prices are also inhibiting market growth. Increasing state control and use of chemicals increases production costs, limiting the expansion of the global market.

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Report segmented as

By Substrate:

  • Concrete & Masonry,
  • Fiberglass and Metal

By Application:

  • Automotive,
  • Marine,
  • Building & Construction
  • Machinery & Equipment

By Usage:

  • Waterborne
  • Solvent-borne

Geographical Analysis:

The market can be considered by region into Latin America, North America, Asia Pacific, Europe, and Middle East and Africa.Asia Pacific is expected to be the fastest-growing market by area, with the major activity coming from countries like China, India, Malaysia and Indonesia.

Important Market Players:

The important players in the market are Sherwin-Williams Company (US), PPG Industries Inc. (US), Axalta Coating Systems LLC (US), BASF SE (Germany), AkzoNobel N.V. (Netherlands), Nippon Paint Co. Ltd. (Japan), Kansai Paint Co. Ltd. (Japan), TikkurilaOyj (Finland), and RPM International Inc. (US).

Sherwin- Williams Company is one of major companies in the world in the building and construction sector. As of 2018, it was one of the American Fortune 500 companies. Itassimilated Valspar for approximately USD 9 billion dollars on March 20, 2016.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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Joined: September 20th, 2017
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