SAN FRANCISCO, August 10, 2016 /PRNewswire/ --
The global epoxy coating market is expected to reach USD 41.71 billion by 2024, according to a new report by Grand View Research, Inc. Increase in spending on residential and commercial construction in emerging regions such as Asia Pacific and Middle East is expected to drive global Epoxy Coating Market growth over the next eight years.
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Rapid industrialization in Asia Pacific has resulted in an increase in utilization of epoxy coatings for flooring applications for both commercial and industrial structures such as retail stores, hospitals, showrooms, and warehouses. These coatings provide superior gloss and aesthetic finish in form of terrazzo flooring, chip flooring, and colored aggregate flooring.
Growing automotive sector in developing economies of Asia Pacific and Latin America owing to a surge in population base and rising disposable income is expected to stimulate epoxy coatings demand. Growing application scope in rust and corrosion prevention of vehicle bodies and other metal components is likely to augment market growth. In addition, rising use of epoxy-based coatings as primer ensuring paint adhesion for automotive parts will drive the market demand over next eight years.
Solvent borne epoxy emerged as the dominant product segment accounting for over one-third of the total market volume in 2015. Traditionally, they were designed to protect steel, however; they are extensively being used now-a-days for concrete structures and adapted for flooring. Solvents allow easy coating application in required areas without any formulating problems.
Browse full research report with TOC on "Epoxy Coating Market Analysis By Product (Solvent-borne, Waterborne, Powder) By Application (Construction, Industrial, Transportation) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/epoxy-coating-market
Further key findings from the report suggest:
Grand View Research has segmented the epoxy coating market on the basis of product, application and region:
Browse related reports by Grand View Research:
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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