High Performance Coatings Market: Essential Multi-Segment Insights [5 Recent Developments]
Why is there a need for high performance coatings?
Are the high performance coatings supporting sustainability?
Which end-user industry accounts for the largest market share in the high performance coatings market?
High performance coatings can provide the following key characteristics after application on substrates like metals, galvanized, non-ferrous metals, wood, and concrete:
Weather (Environment) resistance
Color and gloss performance (creation and retention of aesthetics)
Exceptional chemical resistance and high heat resistance (intumescent coatings)
Higher durability and strength
Low VOC emissions to no or zero VOC emission
Environment conditions, like moisture, high airflow, direct sunlight, and other environmental factors, play a significant role in impacting coatings and can affect both interior and exterior spaces. High performance coatings are specialized and specifically engineered coatings for the primary function to sustain the premium quality, increasing the life cycle savings in the long run, and secondary function to enhance the aesthetics of the product applied.
Since the start of Covid-19, the pandemic has affected not only human lives but also the economy in the world. Many small-scale and medium-scale companies have suffered from financial distress, and it will take some time to boost their business operations. However, the paints and coatings industry shows a bounceback with a positive growth trend in the first half of this year.
The high performance coatings market is estimated to value USD 60,512.34 million by 2026 at a CAGR of 4.89% over the forecast period 2020-2026.