2K Protective Coatings Market

Introduction of the 2K Protective Coatings Market Report

2K protective coatings also referred as two component paints are the paints in which the components are mixed together to undergo a chemical reaction that results in a cross-linked polymer material that forms a protective coating and paint hardening. High solid materials including polyurethane, polyurea, alkyd, and epoxy are some of the common materials that are combined in the 2K protective coatings.

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Market Dynamic

Key Drivers and Emerging Trends

Growing construction industry; the increasing demand for durable coating materials for the protection of civil buildings and infrastructure from acid rain and bad weather; and rising use of 2K protective coatings for flooring, interior & exterior walls, bridges, doors, and ceilings are some of the prominent factors expected to drive the growth of the 2K protective coatings market share. In addition, rising number of construction and development projects across the world including Smart Cities Mission, India; Taipei Smart City Living Lab project, Taiwan; Haikou City Brain, China, Saudi Vision 2030, among other projects is further accelerating the 2K protective coatings market size.  Moreover, increasing application of 2K protective coating in the marine industry for the protection of marine projects from tough environments including saltwater, temperature, humidity, water pressure and organic formulations is further accelerating the demand of 2K protective coatings.

Restraint in the 2K Protective Coatings Market

However, high initial cost of manufacturing is expected to restraint the growth of the 2K protective coatings market.

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Resin Type – Segment Analysis

Based on resin type, polyurethane is expected to hold a notable market share over the forecast period. This can be attributed to their benefits that includes abrasion resistance, colour retention, superior gloss, and excellent durability. Moreover, growing utilization of 2K polyurethane in automotive sector for cars, ships, and aircrafts; and in the petrochemical industry for heavy-duty use on plants is further contributing to the market growth.

End-Use Industry – Segment Analysis

Based on the end-industry, civil building and infrastructure accounts for a prominent share in the market primarily due to their wide use for wall and floor coatings on civil and commercial infrastructure owing to their durability, aesthetic performance, and protection from corrosion, abrasion, high-temperatures and fire. Additionally, increasing use of 2k coatings as high-performance architectural coatings (HiPAC) including offices, showrooms, warehouses, supermarkets, schools, industrial workshops, and others is stimulating the market growth.

Application – Segment Analysis

Based on the application, corrosion protection is expected to grow at a substantial rate over the forecast period owing to the increasing use of 2k protective coatings to protect metal substrates from corrosion in harsh environment. Rising application on structures including pipes, bridges, storage tanks and marine vessels is further supporting the market growth.

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Regional – Segment Analysis:

North America is projected to hold a notable share in the market primarily due to the growing residential and industrial infrastructure & construction industry and the increasing government investment towards the growth of power sector that includes development of natural gas, hydro, and nuclear power plants. Additionally, the presence of prominent companies including AkzoNobel N.V., PPG Industries, Inc., and RPM International Inc. is further promoting the growth of the market over the forecast period.

Top Market Players

Several leading 2K Protective Coatings companies operating in the market, include, AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Jotun A/S, Hempel A/S, Chugoku Marine Paints Ltd., Nippon Paint Co. Ltd., Kansai Paint Co., Ltd., Sika AG, and RPM International Inc. among others. 

Key Developments: 

• • In 2020, PPG Industries, Inc. announced the launch of the PPG AQUACOVER waterborne coating system for shipping containers in China. This system includes epoxy zinc-rich primers, epoxy intermediates and topcoats, and polyurethane topcoats. The coatings deliver high-build quality and offer excellent anti-corrosion performance for shipping containers.

Segments covered in the Report:

The global 2K Protective Coatings market has been segmented on the basis of resin type, end-use industry, application, and key regions. Based on resin type, the market is segmented into epoxy, polyurethane, alkyd, acrylic, and others. Based on the end-use industry, the market is segmented into petrochemical, marine, power generation, water and waste treatment, civil building and infrastructure, food and beverage plants, and others. Based on the application, the market is segmented into abrasion resistance, chemical resistance, fire protection, heat resistance, corrosion protection, pipe coatings, tank linings, and others. 

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Key questions answered in this research report:

• • At what pace is global 2K Protective Coatingss market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in 2K Protective Coatings Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global 2K Protective Coatings Market?
  • Which application generated maximum revenues in 2020 and identify the most promising application during the forecast period?
  • What are the various end-use industries of global 2K Protective Coatings Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Resin Type, By End-use Industry, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	AkzoNobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Jotun A/S, Hempel A/S, Chugoku Marine Paints Ltd., Nippon Paint Co. Ltd., Kansai Paint Co., Ltd., Sika AG, and RPM International Inc. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global 2K Protective Coatings Market by Resin Type

• • Epoxy
  • Polyurethane
  • Alkyd
  • Acrylic
  • Others

Global 2K Protective Coatings Market by End-Use Industry

• • Petrochemical
  • Marine
  • Power Generation
  • Water and Waste Treatment
  • Civil Building and Infrastructure
  • Food and Beverage Plants
  • Others

Global 2K Protective Coatings Market by Applications

• • Abrasion resistance
  • Chemical resistance
  • Fire protection
  • Heat resistance
  • Corrosion protection
  • Pipe coatings
  • Tank linings
  • Others

Global 2K Protective Coatings Market by Region

• • North America 2K Protective Coatings Market (Option 1: As a part of the free 25% customization)
    • North America 2K Protective Coatings Market by Resin Type
    • North America 2K Protective Coatings Market by End-Use Industry
    • North America 2K Protective Coatings Market by Application
    • US 2K Protective Coatings Market All-Up
    • Canada 2K Protective Coatings Market All-Up
  • Europe 2K Protective Coatings Market (Option 2: As a part of the free 25% customization)
    • Europe 2K Protective Coatings Market by Resin Type
    • Europe 2K Protective Coatings Market by End-Use Industry
    • Europe 2K Protective Coatings Market by Application
    • UK 2K Protective Coatings Market All-Up
    • Germany 2K Protective Coatings Market All-Up
    • France 2K Protective Coatings Market All-Up
    • Spain 2K Protective Coatings Market All-Up
    • Rest of Europe 2K Protective Coatings Market All-Up
  • Asia-Pacific 2K Protective Coatings Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific 2K Protective Coatings Market by Resin Type
    • Asia-Pacific 2K Protective Coatings Market by End-Use Industry
    • Asia-Pacific 2K Protective Coatings Market by Application
    • China 2K Protective Coatings Market All-Up
    • India 2K Protective Coatings Market All-Up
    • Japan 2K Protective Coatings Market All-Up
    • Rest of APAC 2K Protective Coatings Market All-Up
  • RoW 2K Protective Coatings Market (Option 4: As a part of the free 25% customization)
    • RoW 2K Protective Coatings Market by Resin Type
    • RoW 2K Protective Coatings Market by End-Use Industry
    • RoW 2K Protective Coatings Market by Application
    • Brazil 2K Protective Coatings Market All-Up
    • South Africa 2K Protective Coatings Market All-Up
    • Saudi Arabia 2K Protective Coatings Market All-Up
    • UAE 2K Protective Coatings Market All-Up
    • Rest of world (remaining countries of the LAMEA region) 2K Protective Coatings Market All-Up

Major Players Operating in the 2K Protective Coatings Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • AkzoNobel N.V.
  • PPG Industries, Inc.
  • The Sherwin-Williams Company
  • Jotun A/S 
  • Hempel A/S
  • Chugoku Marine Paints Ltd.
  • Nippon Paint Co. Ltd.
  • Kansai Paint Co., Ltd.
  • Sika AG
  • RPM International Inc.