Latin America Bituminous Paints Market Report Description:
Latin America Bituminous Paints market report gives comprehensive outlook on Bituminous Paints across the globe with special emphasis on key countries such as Brazil, Mexico, Argentina, Venezuela and Rest of Latin America. The report on Latin America Bituminous Paints market gives historical, current, and future market sizes (US$ Mn) on the basis of Product, Application and region. This report studies Latin America Bituminous Paints market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Latin America Bituminous Paints market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Latin America Bituminous Paints market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Latin America Bituminous Paints market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in Latin America Bituminous Paints products.
Latin America Bituminous Paints Market:
The Latin America Bituminous Paints market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Increasing number of applications, technological advancements, huge spending on R&D and rapid industrialization in developing countries are some of the key factors fostering the market growth.
Increasing Application of Bituminous Paints
There is a high demand for bituminous paints across the industry owing to its corrosion and weather proof properties. They are easy to use and can be applied to the desired surface using conventional painting techniques such as spraying and paint brushes. The demand for these paints is also increasing in the marine and aviation sectors.
Applications of bituminous paints include waterproofing, protective coating, corrosive, concrete, and steel. They are primarily used for waterproofing and are thus, used in painting pipes, machinery, and water tanks. Continuous research and development activities are expected to widen the scope of applications of bituminous paints, thereby augmenting the growth of the market in the near future.
Harmful Effects of Bituminous Paints
Bituminous paints are harmful to aquatic life when released in water in large quantities. Furthermore, various health hazards such as dizziness and skin itching caused due to bituminous paints are major factors restraining bituminous pains market growth. There are also strict environmental regulations which is further hindering Latin America bituminous paints demand.
Brazil Accounts for Larger Market Revenue Share in Latin America Bituminous Paints Market
Brazil accounted for larger revenue share in Latin America Bituminous Paints market with considerable CAGR. Due to the ease of application of paint to the surface using a normal brush and low-cost product with excellent properties are expected to grow the demand in a protective coating. Increasing bituminous paints utility in various end-use industries such as marine, aviation and furniture is a key factor driving bituminous paints market growth in Brazil.
Key player’s profiles in the Latin America Bituminous Paints market include:
- Saudi Bitumen Industries (Saudi Arabia)
- Hebei Tuohua Metal Products Co., Ltd. (Hebei)
- Tianjin Haiyunda Metal Material Co., Ltd. (Tianjin)
- Juno Bitumix Pvt. Ltd. (India)
- Gulf Petrochem (London)
- Swastik Tar industries (India)
- Berger Paints (India)
- Twin Aces Industries Inc. (Philippines)
Latin America Bituminous Paints market is surging owing to frequent acquisitions and launchings by the market players. For Instance, Saudi Bitumen Industries and Hebei Tuohua Metal Products Co., Ltd. continuous investments in R&D and expansion in production capacity.
Key Findings of the Report:
- Latin America Bituminous Paints market expanding at significant CAGR over 2019 to 2025 owing to growing demand from construction industry.
- Based on Product, Water Proofing segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in Latin America Bituminous Paints market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
- Water Proofing
- Protective Coating
- Corrosion Prevention
- Construction Industry
- Steel Industry
- Latin America
- Rest of Latin America