Epoxy Primer Market Overview
The global epoxy primer market was assessed at $ 8.34 billion in 2019 and is determined to reach $ 10.26 billion in 2025, at an annual rate of 5.6% between 2020 and 2025. The base year considered for the study is 2019 and the forecast period is 2020 to 2025.
An epoxy primer, epoxy finish, or epoxy sealer is a non-porous liquid coating. Generally, it is applied as a coating liquid on a bare material that must be painted or coated later. Different composites where the epoxy primer is utilized are stainless steel, galvanized steel, fiberglass, ferrous metals, and wood. Materials that have a coating with an epoxy primer has the potential to be waterproof because these primers do not intake atmospheric moisture and do not shield bare material from atmospheric rusting and oxidation. At the time of a fire, epoxy primers escalate the useful life of the bare material for some time period and decrease the harm caused to the bare material.
It has excellent strength and adhesion to a various substrates like metal, concrete and fiberglass, and more. It also has water resistance and corrosion inhibition. Therefore, it is preferred in different applications. Epoxy Primer is a non-porous surface finish sealer and is used as the first basecoat. It is used in bumps and cracks due to its exceptional bonding capacity. Epoxy primer is also called structural steel primer because its two parts are chemically cured by crosslinking.
Recent Developments and Trends
Epoxy Primer Market Drivers and Restraints:
The massive demand for the product in a multitude of sectors, such as machinery, construction, marine and automotive, will increase the reach of the epoxy primer market in the coming years. Other than that, the massive requirement to minimize oxide losses will spur the expansion of the epoxy primer market. Epoxy primer coatings help the material become waterproof, protecting it from oxidation. The increasing use of water-based epoxy primers will stimulate market demand. The winning automotive fragment has led to a rising and combined requirement for paint and coatings, furthermore escalating the size of the epoxy primer industry. Increased manufacturing activity worldwide increases demand for coating and printing applications. Epoxy primers are widely used in the paint and coating industry. Therefore, the increasing demand for paint and coating applications increases the demand for epoxy primers.
The growing adoption of paint and coating applications in various sectors around the world, such as automotive and industry, is increasing the demand for epoxy primers worldwide. The raw materials generally used for the production of coatings and paints include resins, pigments, fillers, additives and solvents. Resins represent an important part of the manufacture of coatings and paints. Epoxy resins are employed in the manufacturing of epoxy primers. The high costs of epoxy and other resins such as acrylic, alkyd, and urethane are a major limitation in the global epoxy primer market. Changing product costs and environmental rules to decrease the employment of epoxy primers produced utilizing solvent-based techniques are hindering the industry expansion. However, strict environmental legislation on the use of epoxy primer in the solvent phase is likely to threaten market growth. In addition to this, the oscillating costs of raw materials and the entry of new entrepreneurs into the business can further dampen the increase in the market.
Epoxy Primer Market Segmentation:
By substrate:
The metal substrate segment is predicted to have the substantial share of the epoxy primer industry in 2020.
By application:
On the basis of application, the building & construction sector is predicted to have the biggest share of the epoxy primer industry in 2019. It is broadly employed on concrete & masonry surfaces for flooring use.
By technology:
Based on the technology, the solvent-based segment would represent the majority of the epoxy primer market. Epoxy primers produced using solvent-based technology have superior characteristics and are used in a wide variety of applications.
Epoxy Primer Regional Analysis:
The Epoxy Primer Report includes the segmentation of Regions with their respective Countries.
North America is the world's largest market for epoxy primers. The United States is expected to be the leading market for epoxy primers in North America during the forecast period, followed by Canada. Europe has a significant share of the global epoxy primer market, where Germany should be the top market in the region from 2020 to 2025. Currently, the Asia-Pacific market represents the largest share in the world of epoxy primers in terms of turnover. This can be attributed to the rising demand for various end applications, such as building and construction, automotive, power generation, oil and gas, and marine in the area. The North American and European markets are expected to post significant growth in the region due to increasing demand for high performance epoxy primer in the near future.
Key Players:
Some of the major players operating in the epoxy primer industry are Axalta Coating Systems, Nippon Paint Holdings Company Limited, Jotun Group, Asian Paints Ltd, BASF SE, PPG Industries, Inc., Akzo Nobel N.V., Sherwin-Williams, Kansai Paints Company Limited, and 3M Company.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Substrate
5.1.1 Introduction
5.1.2 Concrete and Masonry
5.1.3 Fiberglass
5.1.4 Metal
5.1.5 Y-o-Y Growth Analysis, By Substrate
5.1.6 Market Attractiveness Analysis, By Substrate
5.1.7 Market Share Analysis, By Substrate
5.2 Application
5.2.1 Introduction
5.2.2 Automotive
5.2.3 Marine
5.2.4 Building and Construction
5.2.5 Machinery and Equipment
5.2.6 Y-o-Y Growth Analysis, By Application
5.2.7 Market Attractiveness Analysis, By Application
5.2.8 Market Share Analysis, By Application
5.3 Usage
5.3.1 Introduction
5.3.2 Waterborne
5.3.3 Solventborne
5.3.4 Y-o-Y Growth Analysis, By Usage
5.3.5 Market Attractiveness Analysis, By Usage
5.3.6 Market Share Analysis, By Usage
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product
6.1.3.3 By Type
6.1.3.4 By Application
6.1.3.5 By Indication
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product
6.1.4.3 By Type
6.1.4.4 By Application
6.1.4.5 By Indication
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product
6.1.5.3 By Type
6.1.5.4 By Application
6.1.5.5 By Indication
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Sherwin-Williams Company
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 PPG Industries Inc.
8.3 Axalta Coating Systems LLC
8.4 BASF SE
8.5 AkzoNobel N.V.
8.6 Nippon Paint Co. Ltd.
8.7 Kansai Paint Co. Ltd.
8.8 Tikkurila Oyj
8.9 RPM International Inc.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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