Specialty Coating Market to Expand at a 5.0% CAGR During the Period Between 2015 and 2020
Specialty coatings are a kind of coating that delivers performance as per the needs of particular applications. Specialty coatings meet the basic definition of a topcoat, primer, and a self-priming. Some of the benefits of specialty coatings are fire or temperature resistance, antireflection, sealing, substrate compatibility, temporary protection, excellent adhesive properties, and enhanced corrosion protection.The global specialty coating market is segmented on the basis of geography, end-use application, and base material. Based on geography, the global specialty coating market is divided into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. The global specialty coating market is predicted to develop rapidly in the years to come due to their growing consumption in various industries, especially in the paints and coatings industry.
The overview section of the global specialty coating market report highlights details such as key drivers of the market, factors limiting the growth of the market, and current market trends. The report studies the industry chain structure, market projections for the coming few years, and the overall market structure. Growth factors, restraints, and opportunities of the global specialty coating market are studied in the report. The Porter’s five force model is used in the report to analyze the feasibility of new projects as well as the possible future growth opportunities. Competitive analysis of the global specialty coating market is studied in the report on the basis of new products introduced by the new entrants and mergers done by the leading players.The global specialty coating market is classified on the basis of base material into alkyd, epoxy, acrylic urethane, and polyamide. Based on its end-use application, the global specialty coating market is classified into OEM paint, refineries, oil and gas, aerospace and defense, power, pulp and paper, petrochemical, pipeline, railway, fireproofing, water and wastewater, marine, and architectural. The global paints and coatings market is predicted to expand at a 5.0% CAGR during the period between 2015 and 2020. Rise in the paints and coatings industry in the coming years is predicted to have a positive impact on the global specialty coating market in the years to come.
In 2014, in terms of consumption, Asia Pacific dominated the global specialty coating market. Asia Pacific, being the hub for several end-use industries including electrical and electronics, construction, and automotive, is expected to maintain its dominant position in the coming few years. North America is expected to be the second largest market in the global specialty coating market, followed by Europe. Stringent environmental regulations related to the reduction of carbon dioxide emissions are expected to drive Europe and North America specialty coating market.Stringent environmental regulations, coupled with testing standards, are expected to restrict the growth of the global specialty coating market in the years to come.The global specialty coating market is highly fragmented and competitive. With the entry of new companies, the global specialty coating market is expected to be more competitive in the years to come for the leading players.
However, with mergers and acquisitions, the leading players are expected to maintain their dominant position in the coming few years. Some of the leading companies in the global specialty coating market are Ashland, Axalta, Specialty Coating Systems, Nicoat, Specialty Polymer Coatings Inc., PPG industries, Evonik, U.S. Specialty Coatings, Inc., and NV Specialty Coatings Srl.