South America Protective Coating Market, By Type (Inorganic Coating and Organic Coating), Product Type (Acrylic, Epoxy, Polyester, Polyurethane, Alkyd, Vinyl Esters, and Others), Manufacturing Process (Mechanical Method, Chemical Method, and Electrochemical Method), Technology (Solvent-Borne, Water-Borne, Powder Coating, UV-Cured, and Others), Application (Pigments, Specialized Resins, Fillers, and Others), End-User (Building and Construction, Aerospace, Automotive, Industrial, Marine, Oil and Gas, Power Generation, Mining, and Others) – Industry Trends and Forecast to 2030.
South America Protective Coating Market Analysis and Size
The growth of the South America protective coating market is being driven by the increasing need for efficient processes and longer equipment and device lifespan. Additionally, the market is benefiting from the rising demand for eco-friendly coatings. The favourable scenario in the automotive sector is also contributing to the market growth, resulting in increased sales and profitability for market players.
However, there are certain factors restraining the market growth. Fluctuation in raw material prices is one such factor, along with stringent regulations on VOC emissions. On the other hand, the increasing demand for high-performance coating presents an opportunity for market growth in South America. Nevertheless, the market also faces challenges in terms of meeting stringent environmental regulations for the commercialization of protective coatings.
Data Bridge Market Research analyses that the protective coating market which was USD 1961.14 million in 2022, would rocket up to USD 2503.68 million by 2030, and is expected to undergo a CAGR of 3.10% during the forecast period of 2023 to 2030. “Inorganic coating” segment in the type segment dominates the protective coating market as it is more durable and decorative and provide much more protection against corrosion.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, pipeline analysis, pricing analysis, and regulatory framework.
South America Protective Coating Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Tons, and Pricing in USD
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Segments Covered
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By Type (Inorganic Coating and Organic Coating), Product Type (Acrylic, Epoxy, Polyester, Polyurethane, Alkyd, Vinyl Esters, and Others), Manufacturing Process (Mechanical Method, Chemical Method, and Electrochemical Method), Technology (Solvent-Borne, Water-Borne, Powder Coating, UV-Cured, and Others), Application (Pigments, Specialized Resins, Fillers, and Others), End-User (Building and Construction, Aerospace, Automotive, Industrial, Marine, Oil and Gas, Power Generation, Mining, and Others)
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Countries Covered
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Brazil, Argentina, Colombia, Peru, and the rest of South America
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Market Players Covered
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Exxon Mobil Corporation (U.S.), PPG Industries (U.S.), BASF SE (Germany), OQ SAOC (Oman), WACKER CHEMIE AG (Germany), SASOL SA (South Africa), Merck KGaA (Germany), Eastman Chemical Company (U.S.), Renner Coatings (Brazil), ARKEMA (France), Axalta Coating Systems, LLC (U.S.), Huntsman International LLC (U.S.), SIKA AG (Switzerland), The Sherwin-Williams Company (U.S.), and H.B. Fuller Company (U.S.)
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Market Opportunities
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Market Definition
Protective coating is a protective layer on metal surfaces with excellent balanced properties. Protective coating is the coating which protects the surface of metals from dust, dirt, corrosion and UV rays. Protective coating can be applied to metallic or non-metallic surfaces. It can be applied on various application such as building and construction, aerospace, marine, oil and gas, automotive, and industrial among others.
Protective Coating Market Dynamics
Drivers
- Increasing need for corrosion protection in various end-user industries
South America has significant activities in various end user industries such as oil and gas, mining, manufacturing, and construction. The demand for protective coatings to safeguard equipment, infrastructure, and assets from corrosion and other forms of deterioration is on the rise in the region.
- Rising infrastructure development and maintenance projects in South America
The growing emphasis on infrastructure development and maintenance projects in the South America region is driving the demand for protective coatings. Government agencies, private organizations, and other stakeholders are investing in infrastructure projects such as bridges, highways, pipelines, power plants, and buildings, which is creating a significant market for the growth of protective coatings.
- Rise in awareness regarding long-term cost savings associated with protective coatings
The increasing awareness regarding the long-standing cost savings associated with protective coatings is increasing in South America. These coatings provide protection against corrosion, weathering, chemical exposure, and abrasion, which helps extend the lifespan of assets, reduce maintenance costs, and improve overall operational efficiency.
Opportunities
- Rising demand for high-performance based coatings
South America has a significant presence in the oil and gas sector, with extensive exploration and production activities. The demand for protective coatings in this industry is driven by the need to protect equipment, pipelines, storage tanks, and offshore structures from corrosion, abrasion, and chemical exposure, which can result in increased demand for high-performance based coatings.
- Increasing technological advancements and new product launches
Increasing technological advancements in protective coating technologies, such as nanotechnology, self-healing coatings, and antimicrobial coatings, offer opportunities for innovative and high-performance solutions in the South American market. Moreover, increasing focus on environmental protection and safety regulations in South America creates opportunities for eco-friendly protective coatings.
Restraint
- Growing stringent regulations and environmental concerns
The growing stringent environmental regulations and the need to comply with VOC emissions standards pose challenges for protective coatings manufacturers and end-users. Adhering and compliance with these regulations requires investment in new technologies and formulations to develop low-VOC or VOC-free coatings. Additionally, South America experiences diverse climate and environmental conditions, ranging from humid tropical regions to dry and arid areas.
Challenge
- Volatility in raw material prices
The prices of raw materials used in protective coatings, such as resins, pigments, and additives, can be volatile. Fluctuations in raw material costs can impact the profitability of manufacturers and affect pricing strategies and product affordability. These price fluctuations also influence the pricing of protective coatings in the market.
This protective coating market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the protective coating market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
- In May 2023, Brenntag, a leading distributor of chemicals and ingredients, has announced the renovation and expansion of its facilities in Nova Esperança, Paraná, Brazil. The investment includes expanding the storage area to 2000 m2 and installing 14 tanks with a capacity of 675 m3. The site now has a new quality control laboratory and two reactors for liquid fertilizer production, allowing for an initial capacity of up to 2,000 tons per year.
- In April 2023, PPG Industries, Inc., a leading coatings manufacturer, has completed a $15-million expansion of its Powder Coating production facility in Brazil, Indiana. The investment includes the addition of two state-of-the-art lines for bonded metallic powder and automated packaging capabilities. The expansion aims to meet the growing customer demand for sustainable coating solutions in the appliance and general industrial manufacturing sectors.
South America Protective Coating Market Scope
The protective coating market are segmented on the basis of the type, product type, manufacturing process, technology, application, and end-user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
TYPE
- INORGANIC COATING
- ORGANIC COATING
PRODUCT TYPE
- ACRYLIC
- EPOXY
- POLYESTER
- POLYURETHANE
- ALKYD
- VINYL ESTERS
- OTHERS
MANUFACTURING PROCESS
- MECHANICAL METHOD
- CHEMICAL METHOD
- ELECTROCHEMICAL METHOD
TECHNOLOGY
- SOLVENT-BORNE
- WATER-BORNE
- POWDER COATING
- UV-CURED
- OTHERS
APPLICATION
- PIGMENTS
- SPECIALIZED RESINS
- FILLERS
- OTHERS
END-USER
- BUILDING AND CONSTRUCTION
- AEROSPACE
- AUTOMOTIVE
- INDUSTRIAL
- MARINE
- OIL AND GAS
- POWER GENERATION
- MINING
- OTHERS
Protective Coating Market Regional Analysis/Insights
The protective coating market is analysed and market size insights and trends are provided by country, type, product type, manufacturing process, technology, application, and end-user as referenced above.
The countries covered in the protective coating market report are Brazil, Argentina, Colombia, Peru, and the rest of South America.
Brazil dominates and is the fastest growing country in the protective coating market because of the increase in the spending on hotel and restaurants which resulted in the construction and renovation activities in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of the regional brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Increasing need for corrosion protection in various end-user industries
The protective coating market also provides you with detailed market analysis for every country growth in the construction industry, increasing renovation activities and their impact on the protective coating market. The data is available for historic period 2015-2020.
Competitive Landscape and Protective Coating Market Share Analysis
The protective coating market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to protective coating market.
Some of the major players operating in the protective coating market are:
- Exxon Mobil Corporation (U.S.)
- PPG Industries (U.S.)
- BASF SE (Germany)
- OQ SAOC (Oman)
- WACKER CHEMIE AG (Germany)
- SASOL SA (South Africa)
- Merck KGaA (Germany)
- Eastman Chemical Company (U.S.)
- Renner Coatings (Brazil)
- ARKEMA (France)
- Axalta Coating Systems, LLC (U.S.)
- Huntsman International LLC (U.S.)
- SIKA AG (Switzerland)
- The Sherwin-Williams Company (U.S.)
- H.B. Fuller Company (U.S.)
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