Market Value and Growth
Global Biocompatible 3D Printing Materials Market is valued at USD 320 million in 2018 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 21 % during the forecast period to become a USD 830 million market in 2023.
Market Overview
Before a coat of paint is applied on any surface a preliminary coat of epoxy primer is applied, so that a smooth surface is created for the subsequent paint to adhere to. This epoxy primer also creates a non-porous barrier between the surroundings and the surface upon which the painting is done. This prevents corrosion or degradation of the substrate upon which the epoxy primer is applied.
Recent Developments
A Greece based company called Hydrotron recently introduced a graphene added epoxy primer with enhanced qualities of cathodic protection. This is a much better product when compared to the previously available primer with higher amounts of Zinc. This new primer is much better suited to handle extremely corrosive environments.DMCC (Dubai Multi Commodities Center) awarded the Sherwin-Williams Company the contract to provide a specialist epoxy primer for its Jumeirah Lake Towers.The company Axalta introduced a new durable high performance epoxy primer with exceptionally strong adhesive power called Corlar LV PR 178 series
Drivers and Restraints of Market
This market is showing great promise for sustained growth during the analysis period. The increased construction activity in the developing world is driving the growth of the market. The desire for smoothly finished walls with water resistant coatings is pushing the usage of epoxy primers in the construction sector. Besides that, the growth in the automotive sector has contributed to the increased sales of epoxy primer. A non-porous coating which is impenetrable to oxygen is necessary to prevent the corrosion of metals used in automobiles. The rise in offshore mining of gas and oil due to recent increase in oil prices is also contributing to the market.The availability of water proof paints is threatening the market. Increasing labor costs and fluctuations in the prices of the raw material are also restraining the growth of the market. The increase in the governmental oversight over production and usage of chemicals is adding to the cost of production thereby slowing the growth of the market.
Market Segmentation
Epoxy primer market can be classified based on substrate as Concrete & Masonry, Fiberglass and Metal. The application of epoxy primers greatly reduces the maintenance costs.
The metal segment in the substrate class is projected to grow with the highest CAGR during the forecast period.
By area of application the market can be categorized into Automotive, Marine, Building & Construction and Machinery & Equipment. It is important that industrial machinery is rust free as even the breakdown of a single large machine could cost millions of dollar in large industries, hence non porous coatings like epoxy primers are invaluable in saving time and money. Epoxy Primer is a must use for any metallic object deployed in a marine environment as the excessive presence of salt in the air can degrade materials very quickly leading to safety hazards and accidents without proper rustproofing. But during the forecast period the construction and building sector is expected to occupy the top spot among all segments.The building and construction sector is expected to stay in the lead during the analysis period.By usage the market is divided into waterborne and solvent borne.
During the forecast period the solvent borne market is projected to grow faster than the water borne market.
The market can be categorized by region into Latin America, North America, Asia Pacific, Europe, Middle East and Africa.
Asia Pacific is anticipated to be the fasted growing market by region, with the major activity coming from countries like China, India, Malaysia and Indonesia.
Key Players
The key players in the market are Sherwin-Williams Company (US), PPG Industries Inc. (US), Axalta Coating Systems LLC (US), BASF SE (Germany), AkzoNobel N.V. (Netherlands), Nippon Paint Co. Ltd. (Japan), Kansai Paint Co. Ltd. (Japan), Tikkurila Oyj (Finland), and RPM International Inc. (US).Sherwin- Williams Company is one of largest companies in the world in the building and construction sector. As of 2018 it was one of the American Fortune 500 companies. The company is headquartered in Cleveland, Ohio in USA. It has primarily retail customers in South and North America.The Sherwin- William Company acquired Valspar for approximately USD 9 billion dollars on March 20, 2016.
Research Report Key Highlights
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
