Transparency Market Research holds a list of structured and descriptive market intelligence reports on the vast industries of chemicals and materials. One of the more popular markets today is described in a report titled “Specialty Coating Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023,” which provides its users with vital information regarding the construction boom and its impact on the demand for specialty coatings.
The global specialty coatings market is primarily driven by the expanding construction industry. The paints and coatings industry is a direct end user of specialty coatings, and its market value is directly linked to the growth rate of the construction industry. As such, growing demand from the paints and coatings industry will fuel the global specialty coating market as well.
The global market for paints and coatings is exhibiting a CAGR of nearly 5.0% between 2015 and 2020. Therefore, this positive growth rate will translate into multiple opportunities in the global specialty coating market.
On the other hand, the global specialty coating market is expected to be restrained by the increasingly stringent regulations regarding the use of environmentally unsafe chemicals and the increasingly higher testing standards.
Segmentation of the global specialty coating market is carried out on the basis of base material, end-use industry, and geography.
In terms of base materials, the global specialty coating market is segmented into polyamide, acrylic urethane, epoxy, and alkyd. In terms of end users or applications, this market is segmented into architectural, marine, water and wastewater, fireproofing, railway, pipeline, petrochemical, pulp and paper, power, aerospace and defense, oil and gas, refineries, and OEM paint.
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The global specialty coatings market is expected to be dominated by Asia Pacific in the near future, as the region was already leading the market in 2014 and is showing the fastest growth rate among all major regions. Asia Pacific is showing a high demand for specialty coatings due to the presence of a rapidly growing industrial scene that is highly diverse. The second largest region in the global specialty coating market is North America, which is followed by Europe. Both the North America and Europe specialty coating markets are expected to be hampered by high regulatory pressure pertaining to carbon dioxide emissions.
The competitive landscape of the global specialty coating market is highly fragmented and intensely competitive. With globally prominent players holding relatively small shares and multiple regional players providing a large proportion of regional supplies, the global specialty coating market can be expected to undergo a series of mergers and acquisitions in the coming years.
The key players in the global specialty coating market include NV Specialty Coatings Srl., U.S. Specialty Coatings, Inc., Evonik, PPG industries, Specialty Polymer Coatings Inc., Nicoat, Specialty Coating Systems, Axalta, and Ashland.
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