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- 239 Market data Tables
- 59 Figures
- 308 Pages and in-depth TOC on “Protective Coatings Market – Global Forecast to 2026″
This report also provides a comprehensive analysis of the companies listed below:
PPG (US), AkzoNobel N.V. (Netherlands), Sherwin-Williams (US), Hempel (Denmark), and Jotun (Norway)
According to recent updates by the IMF (International Monetary Fund), there will be a recession as bad as the global economic crisis of 2008 or worse in 2020. The IMF has warned of a total output loss of USD 9 trillion of the world economy between 2020 and 2021. The extent of the economic damage still depends on how the virus spreads in Europe, the US, and other major economies.
- According to economists, the Chinese economy is likely to be hit further by reduced global demand for its products due to the effect of the outbreak on economies around the world. As the pandemic escalates, the growth rate will fall sharply against the backdrop of volatile markets and growing credit stress.
- Initial data from China suggests that its economy has been hit far harder than projected, although a tentative stabilization has begun. In Europe and the US, increasing restrictions on travel & transportation and prolonged lockdown will lead to a demand collapse that is expected to recover a little in the second quarter before significant recovery begins later in the year.
- Central banks have swung into action and are undertaking some combinations of sharply reduced policy rates, resumed assets purchase, and liquidity injections. Fiscal authorities have generally lagged but begun to loosen their purse strings. It is expected that larger and more targeted spending to the most affected groups is forthcoming.
- Restrictions on movement in Europe and the US are putting a severe dent on economic activity. India and Southeast Asian countries are also facing major disruption in their economies.
Civil Building is the fastest-growing segment of the overall Protective Coatings market.
Demand for new transport and utility infrastructure, schools, health care facilities, high urbanization rates, and expansion plans of businesses and manufacturing facilities are the key growth factors for the protective coatings market in the region. It has been seen that even when the whole world was suffering from the COVID-19 crisis and there was a declined demand from the construction industry in several countries. Still, a continuous supply is accounted to the infrastructure projects in countries like China and Turkey. Protective coatings are applied on bridges, structures, support walls, floors, furniture, concrete, swimming pools, storage tanks, buildings, window glasses, ladders, doors, gates, and others.
APAC is the largest Protective Coatings market during the forecast period.
APAC accounts for the largest share of the Protective Coatings market in the region. The demand for anti-corrosive coatings has increased in the APAC. The corrosive agents involved in anti-corrosive solutions and their high applicability has influenced their growth in end-use industries such as civil building and infrastructure, marine, and automotive & OEM. Other emerging countries such as India, Indonesia, Malaysia, and the Philippines, due to their increased income levels, shift towards nuclear families, affordable interest rates, and modern attitudes toward homeownership in several countries are leading to the rapid growth in residential construction activities. All these factors are leading to the growth of the market in the region.