New York, NY -- (SBWIRE) -- 09/26/2014 -- Protective coatings are generally thicker than the normal paint and used mainly to protect steel structures from corrosion. It provide anti-corrosive covering for metal assembly such as bridges, rails, tunnels, and other structures commonly used in numerous heavy engineering applications. Protective coatings sometimes also offer fire-retardant properties therefore it can also be applied in industries such as oil, and gas and petrochemicals. The two basic variant of protective coatings include onshore protective coatings (used for land-based coatings applications) and offshore protective coatings (used for sea-based coatings applications).

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On the basis of resin type the engineering plastic can be broadly classified as alkyd resins, acrylic resin, epoxy resin, polyurethane resin, polyester resin and other resins. Epoxy holds a maximum market share in 2013, due to their advanced mechanical properties, high degree corrosion protection, and chemical resistance.

On the basis of end user application the global protective coatings market can be segmented in five broad categories namely construction, oil and gas, automotive, aerospace and others. Construction industry accounts for highest market share followed by automotive industry in 2013.

The various technology involved in protective coatings can be categories under Solvent-Borne Technology, Waterborne Technology, Powder Technology, and Other Technologies.

Ongoing surge in urbanization and infrastructure developments in developing countries such as Brazil, India, China, are driving the market for global protective coatings market. On the other hand development in the field of modern infrastructure in western countries has led to high demand of advanced high performance protective coatings in these regions. The increase use of protective coatings in oil and gas and petrochemical industries coupled with upcoming safety regulations in oil and gas industries is providing new market opportunities for global protective coatings market.

Asia Pacific is by far the largest market of protective coatings. It account for more than half of the global market share of protective coatings in 2013. The market is still offering lucrative growth to the protective coatings market attributed to the high demand from construction industries in market such as Japan, India and China. Moreover the hot and humid climate of the Asia Pacific region is favorable for rapid corrosion of mild iron and steel based infrastructure which is further boosting the protective coatings market in this region. Europe is the second largest market of protective coatings mainly fueled by the demand from automotive industry of Germany and Italy. Moreover the demand from oil and gas industries of Russia is further boosting the growth of protective coatings in Europe. It is then followed by North America and Rest of the world (RoW).

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The major companies operating in protective coatings market include AKZO Nobel N.V., the Sherwin-Williams Company, Kansai Paint Co., Ltd, Arkema Group, Croda International PLC, Hempel Group, PPG Industries, Inc., Jotun, The Valspar Corporation, Wacker Chemie ag, and Sika Group

Key points covered in the report:

1. Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2. The report covers geographic segmentation
North America
Europe
Asia
RoW
3. The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4. The report provides company profiles of some of the leading companies operating in the market
5. The report also provides porters five forces analysis of the market.

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