Analytical and research firm MarketsandMarkets has published a report on the market of protective coatings. the global market volume will increase from $ 17.63 billion in 2016 to $ 21.47 billion by 2021, with an average annual growth of 4%.

 The report, “The market for protective coatings resin type (epoxy, alkyd, acrylic, polyurethane), composition (based on organic compounds, water-soluble and powdered), end-use (oil and gas, marine, automotive, mining) and by region. Global Forecast to 2021 “provides structured information, including statistical data and analytical predictions.

 Development of the market due to increased demand for protective coatings in emerging markets and strong demand from infrastructure and construction, oil and gas, automotive, aerospace and marine industries. Epoxy resins are the largest segment of protective coatings. The increasing popularity of various kinds of coatings such as alkyd, acrylic, epoxy, polyurethane, polyester, plays a significant role in stimulating the market. Industrial application of protective coatings is intended to protect the machinery and equipment that operate under harsh conditions.

 Demand growth in the Asia-Pacific region will be the main driving force for the protective coatings market growth. The region will have the highest growth rate in terms of value and volume due to the high demand from China and India. China is the largest market for protective coatings with high demand from the marine industry. The Indian government has started investment promotion program for the implementation of infrastructure and construction projects, which are expected to stimulate the protective coatings market growth.