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Chemical Resistant Coatings Market Size (2024 - 2029)

The chemical resistant coatings market is anticipated to experience growth over the forecast period, driven by increasing infrastructure and industrialization activities, particularly in the Asia-Pacific region, and the expansion of oil and gas activities in both Asia-Pacific and North America. Despite the negative impact of COVID-19, which led to reduced industrial capacity and demand, the easing of restrictions has shown positive signs for market recovery. However, challenges such as complex production processes, high investment costs, and lingering effects of the pandemic may impede the market's expansion.

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Market Size of Chemical Resistant Coatings Industry

Chemical Resistant Coatings Market - Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 5.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

Chemical Resistant Coatings Market Analysis

The market for chemical resistant coatings is expected to grow to reach USD XX million at a CAGR of more than 5% during the forecast period.

Due to COVID-19, the chemical resistant coatings market has been negatively impacted. Due to the imposed lockdowns in the first half of 2020, and travel restrictions, the industries were shut for the most part of the first half of the year. The Oil and gas demand has fallen drastically due to the restrictions imposed by the governments across the globe. However, in the second half of the year most of the industries were working at a minimum capacity, and the lifting of travel restrictions and relaxation of the lockdowns are a positive sign for the market studied.

  • Over the Short term, The major factor driving the growth of the market studied include growing infrastructure and industrialization activities in Asia-Pacific region and expansion in oil and gas activities in Asia-pacific and North America region.
  • On the flipside, complex production process and high investment cost, and unfavorable conditions arising due to COVID-19 impact on the overall market are expected to hinder the growth of the market studied.

Chemical Resistant Coatings Industry Segmentation

The market is segmented by Resin, technology, end-user Industry and geogrphy. By Resin the market is segmented into Epoxy, Polyester, Fluoropolymers, Polyurethane, and Other Resins. By Technology the market is segmented into 100% solids, Solvent-borne, Powder, and Water-borne. By End-user Industry the market is segmented into Chemical, Oil and Gas, Marine, and Construction and Infrastructure. The report also covers the market size and forecasts for the chemical resistant coatings market in 17 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Resin
Epoxy
Polyester
Fluoropolymers
Polyurethane
Other Resins
Technology
100% Solids
Solvent Borne
Powder
Water-borne
End-user Industry
Chemical
Oil and Gas
Marine
Construction and Infrastructural
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Qatar
Rest of Middle-East and Africa
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Chemical Resistant Coatings Market Size Summary

The chemical resistant coatings market is poised for growth, driven by increasing infrastructure and industrialization activities, particularly in the Asia-Pacific region. The market is experiencing a resurgence as industries recover from the COVID-19 pandemic's initial disruptions, with positive signs emerging from the lifting of travel restrictions and the easing of lockdowns. The demand for chemical resistant coatings is bolstered by the construction of water treatment plants, power plants, and food processing facilities, which are essential for managing rising water scarcity and supporting population growth. Despite challenges such as complex production processes and high investment costs, the market is expected to expand steadily over the forecast period.

In China, the construction sector has been a significant contributor to economic growth, with substantial investments in infrastructure projects, including wastewater treatment facilities and healthcare infrastructure. The government's focus on infrastructure spending, coupled with the entry of major construction players from the European Union, has further stimulated the market for chemical resistant coatings. The market is characterized by the presence of multinational companies such as PPG Industries Inc., Sika AG, The Sherwin-Williams Company, BASF SE, and Jotun, which play a pivotal role in shaping the competitive landscape. As the global economy gradually recovers, the demand for chemical resistant coatings is expected to rise, driven by ongoing construction and industrial activities.

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Chemical Resistant Coatings Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Expansion of Oil and Gas Activities in APAC and North America

      2. 1.1.2 Growing Infrastructure and Industrialization in the Asia-Pacific Region

    2. 1.2 Restraints

      1. 1.2.1 Complex Production Process and High Investment Cost

      2. 1.2.2 Unfavorable Conditions Arising due to COVID-19 Impact

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Resin

      1. 2.1.1 Epoxy

      2. 2.1.2 Polyester

      3. 2.1.3 Fluoropolymers

      4. 2.1.4 Polyurethane

      5. 2.1.5 Other Resins

    2. 2.2 Technology

      1. 2.2.1 100% Solids

      2. 2.2.2 Solvent Borne

      3. 2.2.3 Powder

      4. 2.2.4 Water-borne

    3. 2.3 End-user Industry

      1. 2.3.1 Chemical

      2. 2.3.2 Oil and Gas

      3. 2.3.3 Marine

      4. 2.3.4 Construction and Infrastructural

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 Italy

        4. 2.4.3.4 France

        5. 2.4.3.5 Spain

        6. 2.4.3.6 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Qatar

        4. 2.4.5.4 Rest of Middle-East and Africa

Chemical Resistant Coatings Market Size FAQs

The Chemical Resistant Coatings Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

PPG Industries Inc, The Sherwin-Williams Company, BASF SE, Jotun and Sika AG are the major companies operating in the Chemical Resistant Coatings Market.

Chemical Resistant Coatings Report Snapshots

Chemical Resistant Coatings Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)