Specialty coatings deliver application-specific performance. From temperature resistance to energy savings, these coatings have a wide range of features. Specialty coatings improve the overall appearance and durability of the surface and help protect it from extreme temperatures, scratches, UV radiation, etc. while meeting environmental regulations.
By formulation, specialty coatings are categorized into solvent-based, water-based, powder-based, and others. Owing to strict environmental regulations against products with high volatile organic compounds (VOC) emissions, the demand for water-borne coatings will grow at the fastest CAGR from 2018 to 2026. Although solvent-based coatings accounted for the largest market share in terms of volume in 2017, owing to high demand from the automotive refinishing market, water-based refinish coatings are expected to surpass solvent-based by the end of the forecast period as they are gaining high traction due to their lower curing times, color matching properties, and environmentally friendly features.
Based on substrates, the specialty coatings market is divided into metal, wood, concrete, and others (composite materials, glass, etc.). In 2017, metal accounted for the largest share in terms of value and volume. Coatings for metal and wood substrates are expected to witness steady growth throughout the forecast period.
The specialty coatings segment includes a wide array of divergent coatings that are applied in the field rather than in factory settings. By end-use industry, specialty coatings are categorized into automotive refinishing, industrial maintenance, marine equipment, aerospace & defense, and others (bridges & roads, interior architecture, etc.). Automotive refinishing held the largest market share of global specialty coatings in 2017 and is expected to maintain its dominance between 2018 and 2026. Specialty coatings enhance the look and feel of the vehicles by changing their overall appearance. Apart from accidents and wear-and-tear damages, it is also effective in protecting the vehicle surface from stones, debris, UV exposure, pebbles, and extreme temperatures. Industrial maintenance, owing to rising construction activities, is projected to witness robust growth in the coming years.
In 2017, in terms of consumption, Asia Pacific dominated the global specialty coating market. Asia Pacific, being the hub for several end-use industries, is expected to maintain its dominant position in the coming years. North America is expected to be the second-largest market in the global specialty coating market, followed by Europe. Stringent environmental regulations related to the reduction of carbon dioxide emissions are expected to drive the specialty coatings market in Europe and North America.
Stringent environmental regulations, coupled with testing standards, are expected to restrict the growth of the global specialty coating market in the years to come.
The global specialty coatings market is segmented as below:
In terms of formulation type
Solvent-borne
Water-borne
Powder-borne
Others
By Substrates
Metal
Wood
Concrete
Others (composite materials, glass, etc.)
By end-use industry
Automotive Refinishing
Industrial Maintenance
Marine Equipment
Aerospace & Defense
Others (Bridges and Roads, Interior Architecture, etc.)
By Geography
North America
U.S.
Canada
Europe
U.K.
France
Germany
Spain
Rest of Europe
Asia Pacific
Japan
China
India
Rest of APAC
Latin America
Brazil
Mexico
rest of Latin America
MEA (Middle East and Africa)
GCC
the remainder of MEA
Key players across the specialty coatings market value chain are:
Axalta Coating Systems, PPG Industries, Axalta Coating Systems, Kansai Paint, Nippon Paint, Sherwin-Williams Company, AkzoNobel, RPM International, KCC Paint, and Arkema SA are among other notable players.
This report offers the following:
Assessment of specialty coatings market trends for the period 2016–2026
Historical market data for 2016 and 2017, along with projections from 2018 to 2026, considering 2017 as the base year
Market dynamics that include drivers, restraints, opportunities, and competitive analysis (market positioning) of key market players
Segmentation analysis up to the regional level in terms of value and volume
Overview of the Specialty Coatings Industry Value Chain
Company profiling with major information about the key players operating in the specialty coatings market, along with their strategic developments
Estimation of the market size in terms of value and volume
Frequently Asked Questions:
The market for Specialty Coatings is expected to reach US$ XX Mn in 2026.
The Specialty Coatings market is expected to see significant CAGR growth over the coming years,at XX%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Axalta Coating Systems, PPG Industries, Axalta Coating Systems, Kansai Paint, Nippon Paint, Sherwin-Williams Company, AkzoNobel, RPM International are some of the major players in the global market.
