In 2021, the global 2K protective coatings market (2K保護コーティング市場) reached a valuation of US$ 8.73 billion, with a projected year-on-year growth rate of 3.1%. Over the long term, the industry is expected to grow at a compound annual growth rate (CAGR) of 5%, reaching US$ 14.66 billion by 2032.
The market for 2K protective coatings has become increasingly important within the coatings industry due to the rising demand for durable solutions that can protect surfaces from harsh environmental conditions. These coatings, which consist of two components, offer enhanced durability, corrosion resistance, and aesthetic appeal. The market has experienced significant growth in recent years, driven by its wide range of applications across industries such as automotive, aerospace, construction, and marine.
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Market Dynamics:
The 2K protective coatings market is witnessing significant growth due to the rising demand for durable and high-performance coatings across various industries. The key drivers of this market include the increasing need for corrosion protection, chemical resistance, and UV protection. The growth of infrastructure development, automotive manufacturing, and industrial activities further boosts the demand for 2K protective coatings. Additionally, stringent regulations regarding environmental protection and safety standards are also driving the market towards eco-friendly and sustainable coatings.
Market Future Outlook:
The 2K protective coatings market (2K 보호 코팅 시장) is expected to continue its growth trajectory in the coming years. The market is projected to witness a steady increase in demand, driven by the growth of key end-use industries such as automotive, construction, and marine. The development of advanced formulations and the introduction of innovative products are also expected to fuel market growth. Furthermore, increasing investments in research and development activities to improve the performance and sustainability of coatings will create new opportunities for market players.
Market Insights:
The global 2K protective coatings market is segmented based on resin type, technology, application, end-use industry, and region. By resin type, epoxy resin-based coatings dominate the market due to their excellent adhesion, chemical resistance, and durability. In terms of technology, solvent-based coatings are widely used, but water-based coatings are gaining traction due to their low VOC emissions and environmental benefits. The automotive and transportation segment is the largest consumer of 2K protective coatings, followed by the construction industry. Geographically, Asia Pacific leads the market, driven by rapid industrialization and infrastructure development in countries like China and India.
Key Players:
- Akzo Nobel N.V.
- PPG Industries
- The Sherwin Williams Company
- Jotun A/S
- Hempel A/S
- Chukogu Marine Paints Ltd.
- Nippon Paints Holdings Co. Ltd.
- Kansai Paint Co. Ltd.
- Sika AG
- RPM International Inc.
Competitive Landscape:
The report highlights that the majority of the companies discussed are investing in expanding their business and launching new product lines in the 2K protective coating market (Marché des revêtements de protection 2K), while also conducting continuous research and development. Notable developments include AkzoNobel's partnership with Players in 2021, which will open up new possibilities in its industrial coating product line. Additionally, Akzo Nobel N.V. acquired 100 percent of Industrias Titan S.A.U. (Titan Paints) in 2021 to expand its paints business and support its expansion in Spain. Akzo Nobel also invested US$ 23 million to increase the powder coatings capacity of their Como, Italy, plant by October 2020, which will strengthen their position in the global 2K protective coatings market and facilitate green manufacturing. Finally, PPG Industries launched PPG Aquacover, a waterborne coating system for shipping containers, in China in November 2020.
Key Segments Covered in the 2K Protective Coatings Industry Report
- By Resin Type :
- Epoxy-based
- Polyurethane-based
- Alkyd-based
- Acrylic-based
- Other
- By End User :
- Oil & Gas Exploration
- Petrochemicals
- Marine Applications
- Cargo Containers
- Power Generation
- Water Treatment
- Building And Infrastructure
- Food and Beverage Production Units
- Other End Use Applications
- by Application :
- Abrasion Resistance
- Chemical Resistance
- Fire Protection
- Heat Resistance
- Corrosion Protection
- Pipe Coatings
- Tank Linings
- By Region :
- North America
- Europe
- Latin America
- East Asia
- South Asia
- Oceania
- MEA
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