Specialty Coating Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2015-2020 and Forecast 2021-2027

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Specialty Coating Market: By Application (Engine & exhaust, Interior, Transmission, Wheel rims, Others), By Technology Type (Solvent-borne, Waterborne, Powder Coating), By Resin Type (Polyurethane, Epoxy, Acrylic, Other),  By Substrate Type (Metal, Plastic and Others), By Vehicle Type (Passenger Car, LCV, HCV), and Geography.

 

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Report

Description

The global Specialty Coating Market was valued at USD 2.98 billion in 2020 and is anticipated to grow at USD 3.76 billion by 2027 recording a CAGR of 3.13% during the forecast period 2021-2027. Specialty Coating Market is a kind of coating that delivers performance as per the needs of particular applications. Specialty coatings meet the basic definition of a topcoat, primer, and a self-priming. Some of the benefits of specialty coatings are fire or temperature resistance, antireflection, sealing, substrate compatibility, temporary protection, excellent adhesive properties, and enhanced corrosion protection. The main reasons of using specialty can be attributed to its factors which helps in improving resistance to rain erosion, promoting a stronger bond or adhesion between two materials, helping to meet stringent hermeticity and sealing requirements. Development and launch of innovative specialty coatings by the market players enables surge in the specialty coatings market demand over the forecast years. For instance. In 2018, Dow Chemicals launched the new specialty Coatings which has a wide range of application. Moreover, Launch of newer products in various countries enables the growth of specialty coatings market over the forecast years. Based on application, the market is segmented into automotive, electrical & electronics, consumer products, building & construction, healthcare & medical, oil & gas and energy, and others. Automotive & transportation emerged as the leading application segment with demand share exceeding XX% in 2015. Increasing demand for light weight vehicles on account of existing and proposed stringent governmental regulations regarding automotive pollution along with growing need for fuel-efficient vehicles is expected to drive this segment over the forecast period. Global specialty coatings market is consolidating as large players complementing each other’s businesses by means of collaborations and acquisitions and launching of new products. For instance June 2017 Sherwin-Williams completed the acquisition of Valspar to become the global leader in paint and coatings. November 2017: AkzoNobel announced plans to separate its specialty chemicals business from paints and coatings and sell it to an affiliate of the AkzoNobel Group for INR 320 crore.


Global Specialty Coating Market

MARKET SUMMARY
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3.13%
  • Study Period– 2021-2027
  • Base Year– 2020
  • CAGR– 3.13%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market–North America

Global Specialty Coating Market

  • Specialty coating market is segmented based on Application, Technology, Resin Type, Substrate Type, Vehicle Type, and end-user
  • The report on global specialty coatings market gives historical, current, and future market sizes (US$ Bn) on the basis of product type, application type and regions.
  • This report studies global specialty coatings market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market.
  • In addition, global specialty coatings market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition.
  • Moreover, PBI analyzed global specialty coatings market to better equip clients with possible investment opportunities across the regions and market unmet needs (Product Opportunities).
  • Key stakeholders of the global specialty coatings market report include suppliers, manufacturers, marketers, policy makers, and agronomists engaged in global specialty coatings market activities.
Market Key Players
  • Akzo Nobel N.V.
  • Axalta Coating Systems Ltd, LLC
  • BASF SE
  • Covestro AG
  • Kansai Paint Co.,Ltd.
  • Nippon Paint Holdings Co., Ltd.
  • PPG Industries, Inc.
  • Solvay SA
  • The Sherwin-Williams Company
  • The Dow Chemical Company
Growth

Specialty Coating Market

The demand for automotive specialty coatings market is driven by the increasing demand for vehicles, whereas technologies and R&D investments are influenced by government regulations. Increasing customer needs including high performance, improved durability and extended service life is estimated to augment specialty coatings demand over the forecast period. These coatings are expected to gain market share in both residential and commercial segments on account of improved resistance towards chemicals, heat and abrasion. It is expected to witness strong demand growth from OEM especially in automotive and chemical industries. However, the market is expected to witness restricted growth on account of increasing environment concerns regarding VOC emissions.


Asia-Pacific Got Significant Share

Specialty Coatings Market

Geographically, specialty coating market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific Specialty Coating Market dominated the global specialty coating market. Asia Pacific, being the hub for several end-use industries including electrical and electronics, construction, and automotive, is expected to maintain its dominant position in the coming few years. North America Specialty Coating market is expected to register a significant CAGR during the forecast period followed by Europe. Europe Specialty Coating market is driving by the adoption of REACH, a government initiative in Europe to improve human health and the environment from the risks that can be constituted by chemicals, while enhancing the competition in European chemicals industry. Also, promoting alternative methods for hazard assessment of substances to reduce tests on animals is increasing the demand for coatings with low VOC content, such as water-borne coatings.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Key Features of the Report

  • The report provides granular level information about the market size, regional market share, historic market (2015 to 2020) and forecast (2021 to 2027)
  • 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

Key

Key Findings of the Report

Specialty Coating Market Segmentation


Location

GEOGRAPHY


Report

Table Of Content


Report

Company Profile

  • Akzo Nobel N.V.
  • Axalta Coating Systems Ltd, LLC
  • BASF SE
  • Covestro AG
  • Kansai Paint Co.,Ltd.
  • Nippon Paint Holdings Co., Ltd.
  • PPG Industries, Inc.
  • Solvay SA
  • The Sherwin-Williams Company
  • The Dow Chemical Company

Description

The global Specialty Coating Market was valued at USD 2.98 billion in 2020 and is anticipated to grow at USD 3.76 billion by 2027 recording a CAGR of 3.13% during the forecast period 2021-2027. Specialty Coating Market is a kind of coating that delivers performance as per the needs of particular applications. Specialty coatings meet the basic definition of a topcoat, primer, and a self-priming. Some of the benefits of specialty coatings are fire or temperature resistance, antireflection, sealing, substrate compatibility, temporary protection, excellent adhesive properties, and enhanced corrosion protection. The main reasons of using specialty can be attributed to its factors which helps in improving resistance to rain erosion, promoting a stronger bond or adhesion between two materials, helping to meet stringent hermeticity and sealing requirements. Development and launch of innovative specialty coatings by the market players enables surge in the specialty coatings market demand over the forecast years. For instance. In 2018, Dow Chemicals launched the new specialty Coatings which has a wide range of application. Moreover, Launch of newer products in various countries enables the growth of specialty coatings market over the forecast years. Based on application, the market is segmented into automotive, electrical & electronics, consumer products, building & construction, healthcare & medical, oil & gas and energy, and others. Automotive & transportation emerged as the leading application segment with demand share exceeding XX% in 2015. Increasing demand for light weight vehicles on account of existing and proposed stringent governmental regulations regarding automotive pollution along with growing need for fuel-efficient vehicles is expected to drive this segment over the forecast period. Global specialty coatings market is consolidating as large players complementing each other’s businesses by means of collaborations and acquisitions and launching of new products. For instance June 2017 Sherwin-Williams completed the acquisition of Valspar to become the global leader in paint and coatings. November 2017: AkzoNobel announced plans to separate its specialty chemicals business from paints and coatings and sell it to an affiliate of the AkzoNobel Group for INR 320 crore.

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