Growing demand for durable coatings drives epoxy paints market to reach $63 billion by 2034

Global epoxy paint market is expected to reach USD 38,754 million in 2024, with a solid growth trajectory anticipated throughout the forecast period. Driven by a compound annual growth rate (CAGR) of 5%, the market is expected to expand significantly, with total sales expected to reach USD 63,126.2 million by 2034. This growth is being driven by the increasing demand for durable and high-performance coatings across industries including construction, automotive, and manufacturing, where epoxy paints are valued for their excellent adhesion, chemical resistance, and protective properties.

Epoxy resins are key components of paints, used in electronics, electrical, construction and other industries due to their aesthetic and protective properties. The product is gaining popularity due to strict environmental regulations and growing consumer demand for sustainable products. Water-based epoxy paints are becoming popular due to their low volatile organic compound (VOC) emissions.

The adhesives are durable, chemical resistant, waterproof and suitable for high traffic areas as well as demanding conditions. They also protect surfaces from moisture damage.

Maximize your investment potential – download a sample report now!

The market is flexible and is likely to continue to grow with formulation innovations, particularly in fast-curing, low-VOC or self-leveling epoxies. Rapid industrialization and infrastructure development projects in the Asia-Pacific region offer significant growth opportunities for epoxy paint manufacturers. High-performance epoxy paints for specific applications, such as conductive or fire-retardant coatings, may also create new growth opportunities.

Key findings from the market report

• The global epoxy paints market is estimated to reach USD 63,126.2 million by 2034, growing at a compound annual growth rate (CAGR) of 5% during 2024-2034.
• According to sources, the petroleum-based epoxy paints segment accounted for 5% value share in 2024.
• In terms of applications, the construction segment is leading with a market share of 3% in 2024.
• India is expected to register a compound annual growth rate (CAGR) of 5% during 2024-2034.
• Sales in China are forecast to grow at a CAGR of 6% until 2034.

“The epoxy paint industry is booming due to its high versatility and durability. The industry is also poised for growth during the assessment period due to the growing demand for sustainable products“, says the chief analyst of Future Market Insights (FMI).

Who is winning?

The epoxy paints industry is facing stiff competition from key players such as Momentive Performance Materials, Kukdo Chemical and Huntsman Corporation, who are working on new formulations with improved properties. Regional players are also providing cost-effective solutions, while water-based epoxy paints are gaining popularity.

Fluctuating raw material prices and strict VOC emission regulations affect production costs and profit margins. The development of end-use industries directly affects the demand for epoxy paints.

Companies are providing further technical support and application guidance to strengthen customer loyalty. Research is underway to incorporate nanomaterials into epoxy paints, and powder coatings are gaining popularity due to their high sustainability and performance.

Industry News-

• Sherwin Williamsbased in Ohio, launched April 2024. Sher-Bar TECthe first damage-resistant textured epoxy coating for rebar that increases the durability, safety and sustainability of infrastructure.
• PETRONASbased in Kuala Lumpur announced in December 2023 the launch of an additive to very high barrier paints to prevent corrosion.

Contact our sales team now and get the tips you need to succeed.

The most important key players

• Momentive Performance Materials
• Kukdo Chemical
• Huntsman Corporation
• Dow Chemical Company
• Cytec Industries Incorporated
• Aditya Birla Chemicals Ltd
• NAMA Chemicals
• LEUNA-Harze GmbH
• AS Cooperative

Get More Insights From The Epoxy Paints Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the Epoxy Coatings market, providing historical data from 2019 to 2023 and forecasted statistics from 2024 to 2034. To understand the potential, growth, and scope of the industry, the industry has been segmented on the basis of source (petroleum-based and plant-based), form (water-based, solvent-based, and powder-based), application (construction, aviation, wind, marine, consumer goods, and others), and region (North America, Latin America, Western Europe, South Asia, Eastern Asia, Eastern Europe, and Middle East & Africa).

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award winner and member of the Greater New York Chamber of Commerce) offers in-depth insights into the factors driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting and events for the packaging, food and beverage, consumer technology, healthcare, industrial and chemical markets. With a large team of ~400 analysts worldwide, FMI provides global, regional and local expertise on various industry domains and trends in over 110 countries.

Contact us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Apartment 401, Newark, Delaware – 19713, USA
Phone: +1-845-579-5705
For commercial inquiries: [email protected]
Website: https://www.futuremarketinsights.com
LinkedIn | Twitter| Blogs | YouTube