Market Size of Primer Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 21.34 Billion |
| Market Size (2029) | USD 28.44 Billion |
| CAGR (2024 - 2029) | 5.91 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Primer Market Analysis
The Primer Market size is estimated at USD 21.34 billion in 2024, and is expected to reach USD 28.44 billion by 2029, growing at a CAGR of 5.91% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market as construction and automotive manufacturing activities were temporarily halted to reduce the spread of new COVID-19 cases, thereby decreasing the consumption of primer in these end-user industries. However, the condition started recovering in 2021. This is expected to increase the demand for the product during the forecast period.
- Over the short term, the growth of the market is likely driven by increasing construction activities in Asia-Pacific and the growing automotive industry.
- On the flip side, regulations regarding the use of primers are likely to hinder market growth.
- Innovations in the use of bio-based primers are expected to act as opportunities for market growth.
- Asia-Pacific is the largest market in the world and is expected to dominate the global market, with the highest demand and consumption from India, China, and other countries.
Primer Industry Segmentation
Primer, also known as an undercoat, is applied on the surface before painting to cover or fill the imperfections, provide better adhesion for the paint to the surface, conceal stains, neutralize the color of the surface, and others.
The primer market is segmented by ingredient, end-user industry, and geography. By ingredient, the market is segmented into resin, additives, and other ingredients (solvents, pigments, etc.). By end-user industry, the market is segmented into automotive, building and construction, furniture, industrial, packaging, and other end-user industries (metalworking, plastic, and rubber). The report also covers the market size and forecasts for the nitrobenzene market in 27 countries across major regions. For each segment, the market sizing and forecasts were made based on the value (USD million).
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| Other Ingredients (Solvent, Pigments, etc.) |
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| Packaging | |
| Other End-user Industries (Metalworking, Plastic, and Rubber) |
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Primer Market Size Summary
The primer market is poised for significant growth over the forecast period, driven by the resurgence of construction and automotive activities, particularly in the Asia-Pacific region. The market, which experienced a downturn due to the COVID-19 pandemic, is recovering as construction and automotive manufacturing resume. The increasing demand for primers is closely linked to the booming construction industry, which is fueled by urbanization, infrastructure renewal, and population growth. Primers serve as essential preparatory coatings in building and construction, enhancing the durability and finish of paints and coatings. The Asia-Pacific region, with its rapidly expanding economies like China and India, is expected to dominate the market due to its substantial construction and automotive sectors.
Despite the promising growth prospects, the primer market faces challenges from regulatory constraints on primer usage. However, innovations in bio-based primers present new opportunities for market expansion. The market is characterized by a consolidated landscape with major players such as AkzoNobel NV, The Sherwin-Williams Company, Axalta Coating Systems LLC, PPG Industries Inc., and BASF SE leading the charge. These companies are actively expanding their product offerings and production capacities to meet the growing demand. The Asia-Pacific region's robust construction and automotive industries, coupled with strategic investments and government support, are expected to drive the primer market's growth, making it a focal point for investors and industry stakeholders.
Primer Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Construction Activities in the Asia-Pacific Region
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1.1.2 Growing Automotive Industry
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1.1.3 Other Drivers
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1.2 Restraints
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1.2.1 Stringent Environmental Regulations Regarding the Use of Primers
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 By Ingredient
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2.1.1 Resin
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2.1.1.1 Acrylic
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2.1.1.2 Epoxy
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2.1.1.3 Poly Vinyl Acetate
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2.1.1.4 Alkyd
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2.1.1.5 Other Resins (Maleic, Polyester, Polyamide, etc.)
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2.1.2 By Additives
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2.1.2.1 Dispersant
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2.1.2.2 Biocides
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2.1.2.3 Surface Modifier
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2.1.2.4 Other Additives (Rust Inhibitors, Salt Inhibitors, Emulsifiers, Stabilizers, etc)
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2.1.3 Other Ingredients (Solvent, Pigments, etc.)
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2.2 By End-user Industry
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2.2.1 Automotive
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2.2.2 Building and Construction
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2.2.3 Furniture
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2.2.4 Industrial
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2.2.5 Packaging
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2.2.6 Other End-user Industries (Metalworking, Plastic, and Rubber)
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2.3 By Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Malaysia
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2.3.1.6 Thailand
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2.3.1.7 Indonesia
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2.3.1.8 Vietnam
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2.3.1.9 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Spain
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2.3.3.6 NORDIC
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2.3.3.7 Turkey
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2.3.3.8 Russia
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2.3.3.9 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Colombia
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2.3.4.4 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Nigeria
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2.3.5.4 Qatar
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2.3.5.5 Egypt
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2.3.5.6 United Arab Emirates
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2.3.5.7 Rest of Middle East and Africa
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Primer Market Size FAQs
How big is the Primer Market?
The Primer Market size is expected to reach USD 21.34 billion in 2024 and grow at a CAGR of 5.91% to reach USD 28.44 billion by 2029.
What is the current Primer Market size?
In 2024, the Primer Market size is expected to reach USD 21.34 billion.
