Epoxy Primer Global Market Report 2023
Major players in the epoxy primer market are PPG Industries Inc., Akzo Nobel N.V., Sherwin-Williams, Axalta Coating Systems, BASF SE, Nippon Paint Holdings Co. Ltd., Jotun Group, Asian Paints Ltd., Kansai Paints Co.
New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Epoxy Primer Global Market Report 2023" - https://www.reportlinker.com/p06424019/?utm_source=GNW
Ltd., 3M Company, Carpoly Chemical Group Co. Ltd., Noroo Paint & Coatings Co Ltd., Diamond Vogel, Chugoku Marine Paints, and KCC Paint India Private Limited.
The global epoxy primer market grew from $9.62 billion in 2022 to $10.38 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The epoxy primer market is expected to grow to $13.24 billion in 2027 at a CAGR of 6.3%.
The epoxy primer market consists of sales of one-part epoxy primer and two-part epoxy primer.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Epoxy primer refers to a sealer with a non-porous finish that is used on a wide range of materials due to its strong adhesion, good mechanical ability, and long-lasting chemical resistance in wet and high-humidity environments.The thickness of an epoxy primer determines how well it can protect the material against corrosion.
Epoxy primer is used as the first base coat over bare metal.
Asia-Pacific was the largest region in the epoxy primer market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the epoxy primer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main substrates for epoxy primer are metal, concrete, masonry, fiberglass, and others.The metal refers to an epoxy primer that is used on bare metal to provide corrosion protection.
A metal substrate refers to the parent or base material of metal to which a coating is applied or the substance upon which a process is carried out in the context of corrosion. The different technologies include solvent-borne and waterborne that are used in building and construction, automotive, marine, machinery and equipment, and others.
The booming automotive industry is expected to propel the growth of the epoxy primer market going forward.The automotive industry comprises the companies involved in the design, manufacture, and sale of motor vehicles and related components.
Epoxy coatings are frequently used in the automotive sector as primers to increase the adherence of the metal surface since paints in the automotive sector are crucial for resisting corrosion.Hence, the boom in the automotive industry results in an increased demand for epoxy primers.
For instance, according to a report shared by the India Brand Equity Foundation, commonly known as IBEF, an Indian government export promotion agency, vehicle production in India was 22.93 million vehicles in 2022. Therefore, the booming automotive industry is driving the growth of the epoxy primer market.
Technological advancement is a key trend gaining popularity in the epoxy primer market.Major companies operating in the epoxy primer sector are focused on adopting new technological solutions to sustain their position in the market.
For instance, in December 2021, Applied Graphene Materials, a UK-based chemicals company launched a line of anti-corrosion epoxy primers that use its Genable technology.The Genable Epoxy primer is a C3-rated hybrid product offering synergy benefits by combining graphene with a zinc phosphate additive for standard applications in urban and industrial environments.
It offers improved performance and protection against corrosion in harsh environments such as offshore and marine applications.
In April 2022, Sherwin-Williams & Co., a US-based paint and coating manufacturing company, acquired Sika AG’s industrial coatings business for an undisclosed amount. This deal would bring the company unique technology and additional manufacturing and services capabilities that boost the growth and profitability targets. Sika AG is a Switzerland-based specialty chemical company that provides epoxy primers.
The countries covered in the epoxy primer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The epoxy primer market research report is one of a series of new reports that provides epoxy primer market statistics, including global market size, regional shares, competitors with an epoxy primer market share, detailed epoxy primer market segments, market trends and opportunities, and any further data you may need to thrive in the epoxy primer industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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