The 2K Protective Coatings market is projected to grow from USD 8.6 billion in 2020 to USD 10.8 billion by 2025, at a CAGR of 4.8% between 2020 and 2025. Growing demand from the civil building and infrastructure industry in APAC is likely to boost the 2K protective coatings market.
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The key market players are AkzoNobel N.V. (Netherlands), PPG Industries (US), The Sherwin-Williams Company (US), Jotun A/S (Norway), Hempel A/S (Denmark), Chugoku Marine Paints Ltd. (Japan), Nippon Paints Holdings Co. Ltd. (Japan), Kansai Paint Co., Ltd. (Japan), Sika AG (Switzerland), and RPM International Inc. (US). These players have adopted various strategies, such as merger & acquisition, investment & expansion, new product launch, partnership & agreement to grow in the market. Merger & acquisition was the key strategy adopted by the major players between 2016 and 2021. This strategy strengthened their market position and increased their presence in emerging economies.
AkzoNobel N.V. (Netherlands) is a diversified chemical company active in the fields of decorative paints and performance coatings. 2K protective coatings are offered under the performance coatings segment. AkzoNobel N.V. has a strong customer base and operates in more than 150 countries of Europe, Asia Pacific, South America, and the Middle East. In March 2020, AkzoNobel launched ultimate rust-busting metal paint, which is designed to usher in the next evolution in superior metal protection. Hammerite Ultima is suitable for use on all types of metal and provides a supreme protective barrier. It can also be applied directly onto any metal surface – as well as rust – without the need for a primer.
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PPG Industries, Inc. (US) manufactures and distributes coatings, optical & specialty materials, and glass products. The company operates through two business segments, performance coatings and industrial coatings. PPG has a strong customer base and operates in more than 70 countries of Europe, North America, Asia Pacific, the Middle East, Africa, and Latin America. In February 2021, PPG completed its acquisition of VersaFlex from DalFort Capital Partners. VersaFlex specializes in polyurea, epoxy and polyurethane coatings for water and wastewater infrastructure, flooring, transportation infrastructure, and industrial applications. Financial terms were not disclosed. VersaFlex is an aggregation of four U.S.-based protective coatings companies, consisting of legacy VersaFlex, Raven Lining Systems, Milamar Coatings and Specialty Products, Inc.
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HOME ❯ TOP MARKET REPORTS ❯ 2K PROTECTIVE COATINGS MARKET
2K Protective Coatings Market by Resin Type (Epoxy, Polyurethane,
Alkyd, Acrylic), End-use Industry (Oil & Gas, Petrochemical, Marine,
Cargo Containers, Power Generation, Water and Waste Treatment),
Application, and Region – Global Forecast to 2025
[218 Pages Report] The market size for 2K protective coatings is projected to grow from USD 8.6
billion in 2020 to USD 10.8 billion by 2025, at a CAGR of 4.8%. Growing demand from the civil
building and infrastructure industry in APAC is likely to boost the 2K protective coatings market.
To know about the assumptions considered for the study, download the pdf brochure
COVID-19 Impact on the Global 2K protective Coatings Market
The outbreak of COVID-19 has disrupted the production of raw materials used in paints and coatings
manufacturing. Asian countries such as India, China, Japan, Singapore, and Thailand are the hubs
for paints and coatings manufacturing and are major suppliers of these raw materials. The outbreak
of the novel coronavirus in APAC has affected the supply of these raw materials. For instance, China
is one of the major suppliers of resins and exports a million tons of resins in the global market. The
break in the supplies of raw materials has reduced the production of paints and coatings products.
In April 2020, all private buildings and construction sites, government constructions, and refinish
automotive businesses were hit drastically. Retailors are also canceling already placed bulk orders
of paint and coatings products due to the shutdown of the market. End-use consumers are not
buying expensive coating technologies such as polyurea and polyurethanes from distributors and
retailers due to COVID-19. Overall, the sales of paints and coatings products are hampered at the
distributors’ level due to the suspension o