According to the analysis of MRFR, the major market forces and trends driving growth of the global Epoxy coatings Market includes growth of construction sector and the burgeoning growth in the automobile industry. Epoxy coatings are a lucrative market and is expected to have a steady growth during the forecast years. Epoxy resins are synthetic resins that are extensively used in the manufacturing of plastics and adhesives. Epoxy coatings are formed through the process of mixing polymine hardener and epoxide resin by a process called curing. Epoxy coatings possesses various qualities such as corrosion resistance, superior adhesion, flexibility which paves their way into many end user industries. These coatings acts as an excellent adhesion to various substrates such as metal, fiber and glass.

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Moreover, the increasing personal disposable income in the developing economies throughout the globe has augmented the construction activities especially in India and china which in turn is further expected to fuel the growth of the global Epoxy coatings market during the forecast period.

According to the market analysis, the Global Epoxy Coating Market is divided into water-borne coatings, solvent borne coatings, and powder coatings. Water-borne coatings are not reactive and easy to use. Solvent based coatings are composed of higher organic solvents and emit a strong odor that are harmful to human beings and the environment.

Leading Players:

AkzoNobel N.V. (Netherlands), Axalta Coating Systems(U.S.), BASF SE (Germany), Berger Paints India Limited (India), Kansai Paint Company Limited (Japan), Nippon Paint Company Limited(Japan), PPG Industries Inc. (U.S.), RPM International Inc. (U.S.), The Sherwin Williams Company (U.S.), The Valspar Corporation (U.S.), and Tikkurila Oyj (Finland) among others are some of the prominent players at the forefront of competition in the global Epoxy coatings Market and are profiled in MRFR Analysis.

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Segmentation:

The Global Epoxy Coating Market is segmented into type and application.

Market by type is fragmented as waterborne, powder-based, and solvent borne. Transportation, automobile, construction, and paints & coatings are classified on the basis of application. Powder based coatings hold the largest share in the market due its less hazardous nature toward the environment.

They are used in various applications as it can be controlled under high temperature. Waterborne coatings are water soluble and non-reactive. Due to these reasons, powder-based Coatings Market is expected to dominate the Epoxy Coating Market in the coming years.

Regional Outlook

Asia pacific is expected to be the fastest growing region during the forecast years. The increasing Globalization and urbanization in the developing economies of the region has propelled the construction of residential and commercial infrastructure which is a dominant factor for the demand for epoxy coatings in the region. Moreover, the shifting of manufacturing base by the automobile companies to Asia Pacific owing to favorable government policies and cheap labor is further expected to boost the market. In addition to this, the growing encouragement by the government to reduce greenhouse emissions is also surging the market owing to the environmentally friendly qualities of epoxy coatings.

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