The epoxy coating market size has seen strong growth recently, anticipated to grow from $34.58 billion in 2023 to $36.52 billion in 2024, reflecting a CAGR of 5.6%. Factors contributing to this growth in the historic period include the expansion of the automotive industry, marine industry growth, an increase in industrial flooring, growth within the oil and gas sector, and the overall expansion of the electronics industry. Looking ahead, the epoxy coating market size is expected to reach $45.60 billion in 2028 at a CAGR of 5.7%. This future growth can be attributed to a rising demand for green and sustainable coatings, technological advancements in epoxy resins, adherence to stringent environmental regulations, an uptick in renewable energy projects, and a rise in oil and gas exploration activities. Notable trends during the forecast period include the increasing demand for bio-based epoxy coatings, growing adoption of smart coatings, and the expansion of epoxy powder coatings along with antimicrobial epoxy coatings.
Global Epoxy Coating Market Key Driver
The growing demand for processed foods is anticipated to drive the enzyme stabilizer market. Processed foods, which have undergone transformations for convenience and extended shelf life, are in high demand due to consumers' fast-paced lifestyles. Enzyme stabilizers maintain enzyme activity during manufacturing and storage, ensuring consistency and prolonged shelf life. According to the United States Department of Agriculture, the total value of U.S. processed food products exported increased to $36.59 billion in 2023, reflecting a 1.7% rise compared to previous years. Thus, the growing demand for processed foods is boosting the enzyme stabilizer market.
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Global Epoxy Coating Market Segments
The epoxy coating market covered in this report is segmented –
1) By Technology: Water-Based, Solvent-Based, Powder-Based, Other Technologies
2) By Substrate: Concrete, Wood, Metal, Other Substrates
3) By Application: Flooring, Countertops, Decks, Panels, Pipelines, Storage Tanks, Ballast Tanks, Containers, Packaging, Other Applications
By Geography:The regions covered in the epoxy coating market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the epoxy coating market in 2023 and it is expected to be the fastest-growing region in the forecast period.
Major Epoxy Coating Industry Players
BASF SE, DOW Chemical Company, Wanhua Chemical Group Co. Ltd., Sherwin-Williams Company, PPG Industries Inc., Evonik Industries AG, Solvay SA, AkzoNobel N.V., Sika AG, Nan Ya Plastics Corporation, Nippon Paint Holdings Co. Ltd., Wacker Chemie AG, Masco Corporation, Huntsman Corporation, RPM International Inc., Axalta Coating Systems, Asian Paints Ltd., Kansai Paint Co. Ltd., Jotun Group, Pidilite Industries Limited, Rust-Oleum Corporation, Berger Paints, Hempel A/S, CTM Coatings
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Epoxy Coating Market Overview
Epoxy coating refers to a durable, protective finish made from epoxy resin, commonly applied to surfaces such as concrete, metal, and wood. It creates a hard, chemical-resistant layer that provides excellent adhesion, corrosion protection, and resistance to wear and chemicals. Epoxy coatings are particularly popular for flooring, pipelines, and equipment in harsh environments.
Epoxy Coating Global Market Report 2023 provides data on the global epoxy coating market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The epoxy coating market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
