2K Protective Coatings Market Size Worth $11.68 Billion By 2028 | CAGR: 5.0% : Polaris Market Research

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Oct 27, 2021, 08:30 ET

NEW YORK, Oct. 27, 2021 /PRNewswire/ -- The global 2K protective coatings market size is expected to reach USD 11.68 billion by 2028 according to a new study conducted by Polaris Market Research. The market is anticipated to register a CAGR of 5.0% From 2021-2028. Substantial growth in the construction industry and growing demand for coating materials to protect buildings and infrastructure from bad weather and acid rain are the primary drivers for the market growth. Increasing adoption of 2K protective coatings for bridges, ceilings, flooring, and doors are propelling the product demand. A rise in the application scope of such coatings in the marine industry to ensure the proper protection of marine projects against tough environments is further augments market growth.

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Key Highlights of 2K Protective Coatings Market

Based on resin, the polyurethane segment dominated the 2K protective coatings market and is anticipated to witness positive trends during the forecast period. The growth of this segment can be attributed to the increasing application of 2K polyurethane in the automotive industry for aircraft, ships, and cars.
In terms of end-use, the construction segment is projected to account for the largest revenue share in the coming years. Increasing use of wall and floor coatings in civil infrastructure on account of its aesthetic performance, durability, and protection from abrasion, high temperatures, and corrosion.
PPG, a global supplier of coatings and paints has introduced their 2.1 Low VOC Matte and Semi-Gloss Clearcoats. According to the company, the system is ideal for performing refinish repairs on low-gloss and can reproduce a range of gloss levels.
AkzoNobel, creator of paints and performance coatings has announced the acquisition of a stake in Qlayers, a high-tech startup. As per AkzoNobel, Qlayers' coating technology, provides an automated solution that is more uniform, safer, and faster compared to manual coating operations. The collaboration is aimed at creating a more sustainable value chain of paints and coatings.

Regional Developments

North America emerged as the promising market for 2K protective coatings and is anticipated to register substantial growth during the forecast period. The region's highly developed construction industry is the primary cause for its significant market share. The need for 2K protective coatings has risen as the demand for residential and luxury structures in North America has increased in recent times. The growth of the Asia Pacific 2K protective coatings market over the assessment period is attributed to a large number of foreign direct investments in the region as a result of favorable government regulations.

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Competitive Outlook

Most of the companies are focusing on R&D activities to bring innovations in their product offerings which is backed by rising investments. Firms are also introducing cost-effective products to the market to suit increasing customer demand.

The key players present in the 2K protective coatings market are : AkzoNobel N.V.; Axalta Coating Systems, Ltd; BASF SE; Benjamin Moore & Co.; Berger Paints Ltd; Chugoku Marine Paints, Ltd (CMP); Cloverdale Paint, Inc.; DuluxGroup; Fosroc, Inc.; Guangdong Maydos Building Materials Limited Company; Hempel A/S; Jotun A/S; Kansai Paint Co., Ltd; Nippon Paint Holdings Co. Ltd; NOROO Paint & Coatings Co., Ltd; Parker-Hannifin Corporation (Parker LORD); PPG Industries, Inc; Premium Coatings and Chemicals Pvt Ltd.; RPM International Inc; Shawcor Ltd; Sherwin-Williams Company; Sika AG; Teknos Group Oy; Tnemec Company, Inc; and Weilburger Coatings GmbH.

Target Audience

Supply Side: Paint & Coatings Company
Demand Side: Automotive Industry, Construction Sector
Regulatory Side: National Paint & Coating Association

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Polaris Market Research has segmented the 2K protective coatings market report on the basis of resin, end-use, and region:

2K Protective Coatings, Resin Outlook (Volume – Kilotons; Revenue – USD Billion, 2016 – 2028)

Polyurethane
Acrylic
Polyester
Epoxy
Alkyd
Others

2K Protective Coatings, End-Use Outlook (Volume – Kilotons; Revenue – USD Billion, 2016 – 2028)

Automotive
Construction
Oil and Gas
Aerospace
Industrial
Power Generation
Marine
Others

2K Protective Coatings, Regional Outlook (Volume – Kilotons; Revenue – USD Billion, 2016 – 2028)

North America

U.S.
Canada

Europe

Germany
UK
France
Italy
Spain
Netherlands
Austria

Asia-Pacific

China
India
Japan
South Korea
Indonesia
Malaysia

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

Saudi Arabia
South Africa
Israel
UAE

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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