Chemistry is an important component in high performance coatings. BASF has many technological advantages to produce the next generation of materials. Our efforts are driven by demographic challenges and societal trends found in the market. By addressing these demands through new innovations, BASF continues to propel the industrial coatings market forward, making coatings more durable, more functional and safer to produce.
The global protective coatings market has been segmented on the basis of resin type, product, end-use, and region. The resin type segment covers acrylic, epoxy, polyurethane, alkyd, and polyester.
These products find significant demand in end-uses such as construction, oil & gas, aerospace, industrial, marine, automotive, power generation, and mining, all of which have been covered in this research study.
Another key driver for the protective coatings industry is the increasing demand for high-efficiency coating solutions in end-use verticals such as aerospace and oil & gas, in addition to the product properties such as thermal resistance and resistance to wear & tear and corrosion, owing to the high operating temperatures in these verticals.
The key challenges faced by the industry include the stringent regulatory frameworks regarding VOC emissions and the rising costs of raw materials. Moreover, the rising demand for the raw materials and resins in other application industries may affect the availability of these materials for the development of protective coatings.
Asia Pacific is estimated to witness the highest growth during the forecast period, owing to the availability of raw materials, low costs of production, a large number of manufacturers, and high growth of the end-use verticals in the region.
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