Polyester Coatings Market Analysis, Size, Share, Growth, Trends, and Forecast 2020 – 2027
Author : ankita Belsare | Published On : 27 Apr 2021
Polyester coatings are used in a wide variety of applications such as warehouses, roofing, facades, flooring, and others due to their capability of offering high performance, enhanced efficiency, and reliable nature to the final product. Thus, they are used in various applications such as automotive, construction, packaging, aviation, paints & coatings, and others. The global polyester coatings market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading, owing to the increasing consumption of polyester coatings in automotive, construction, packaging, aviation, paints & coatings, and others. It is estimated that the construction segment is set to observe the highest CAGR in the market due to growing infrastructure development in developing economies. Moreover, increasing demand for polyester paint in automotive, packaging, aviation and others is likely to witness a rapid growth during the forecast period. These factors have led China, Japan, and India to be the major players in this region.
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The North America market is expected to grow at a higher CAGR due to growing mergers and acquisitions among the leading companies. The U.S., Canada, and Mexico have achieved a significant place in the market due to the growing investments in end-use industries. Therefore, the growing demand for superior performance coatings in end-use industries is estimated to drive the market during the forecast period.
A significant development is observed in Europe due to the adoption of stringent norms and policies set by the regulatory bodies to adopt polyester coatings in end-use applications such as flooring, roofing, facades, and others. The growing demand for oil-free products has propelled the market to witness a better growth. Thus, countries such as Germany, the U.K, and Italy are the major contributors to this market.
A notable growth is predicted in the Latin American region such as in Brazil, Uruguay, and Argentina due to increasing demand for the product in end-use applications. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing demand for polyester coatings in end-use industries such as construction, paints & coatings, and others.
The global polyester coatings market is classified by the application segment. On the basis of the application, the market is bifurcated into automotive, construction, packaging, aviation, paints & coatings, and others.
Some of the well-known players operating in the global polyester coatings market are AGC Chemicals Americas (U.S.), BASF SE (Germany), DuPont (U.S.), Momentive (U.S.), The Dow Chemical Company (U.S.), Huntsman International LLC(U.S.), 3M (U.S.), PPG Industries, Inc (U.S.), Axalta Coating Systems, LLC (U.S.) and Akzo Nobel N.V. (the Netherlands) among others.
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