High Performance Coatings Market: Future Key Trends and CAGR Prediction through 2019 to 2029
The global high performance coatings market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each high performance coatings market player in a comprehensive way. Apart from, the high performance coatings market analysis report elaborates the market behavior of each vendor operating in the global coatings market. With a multi-disciplinary approach, FactMR elaborates an extensive analysis of the historical, current and future outlook of the global performance coatings market as well as the factors responsible for such a growth.
The high performance coatings market report covers the following regions:
- North America (Canada, US)
- Latin America (Argentina, Mexico)
- Europe (NORDIC, UK)
- Japan and MEA
- APEJ (China, India)
Asia Pacific holds a prominent share in the global performance coatings market due to growing economy and government initiatives in emerging countries like China and India. The ever increasing demand from automobile, oil & gas, and marine industries has further enhanced market growth in the region. North America and Europe have witnessed stagnant growth due to market maturation. However, continuous investments for the improvement in technology and product innovations to develop green and advanced performance coatings have further boosted the performance coatings market growth in these regions. Stringent regulations and government initiatives in Europe have forced manufacturers to develop eco-friendly products without compromising on efficiency and performance.
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In North America, huge investments from prominent players are observed to produce water-borne performance coatings with low VOC content. On the other hand, the performance coatings market in Middle East & Africa have shown slow growth due to fluctuations in crude oil prices and uncertainties caused by political instability. This study underlines key opportunities in the performance coatings market and finds that the market would exhibit growth at a value CAGR of ~5% during the forecast period.
The performance coatings market report addresses the below-mentioned queries:
- Why are vendors shifting away from traditional methods of manufacturing performance coatings?
- How does the global performance coatings market looks like in the next five years?
- Which end use industry is expected to surpass segment by the end of 2029?
- What innovative products are being introduced by the players in the global performance coatings market?
- Which regions are showing the fastest market growth?
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Moreover, acrylic resin is expected to witness the fastest growth owing to its fast-drying properties. Water-borne acrylic coatings find primary applications across various industries, especially in Western Europe and North America, as there are stringent environmental regulations regarding VOC emissions in these regions. Solvent-borne performance coatings have witnessed steady growth due to regulations on VOC emissions, and thus, hampering the overall performance coatings market. Also, fluctuation in crude oil prices has a huge impact on the market.