2K Protective Coatings Market By Application and By Region – Global Opportunities & Forecast, 2021-2021

 

Global 2K Protective Coatings Market

The 2K Protective Coatings Market is assumed to witness a growth of 4.8% over the forecast period. This is because of their implementation in the infrastructure and civil building industry for bridges, doors, and swimming pools.

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2K Protective Coatings Market Dynamics

The proliferation in construction activities and the real estate industry has stimulated the augmentation of the 2K protective coatings sector over the period of next six years. Also, the surging usage of 2K protective coatings across commercial and residential industries accompanied by the construction of roads and rail infrastructure will steer the market growth. Besides this, the aggravating demand for epoxy resins has generated a huge application of the product in 2K protective coatings, thereby stimulating the market growth. Evidently, these products serve a crucial role in enhancing the lifespan of buildings, resilience of swimming pools, and road prevention from hard water and rusting. Besides this, the accelerating urban population across the developing nations has steered the growth of the 2K protective coatings industry.

The surging demand from civil building and infrastructural industries in the Asia Pacific Region will support the growth in the market. The rising usage of 2K protective coatings in the marine, power generation industries, oil & gas, wastewater treatment, and chemical sectors will bolster the market over the coming years. With the increasing agitation towards the environment, firms are increasingly emphasizing producing eco-friendly products to curb environmental deterioration, which will further add to the market growth. However, the inflated cost concerned with the production of products because of the excessive prices of raw materials will restrain the market growth.

Regional Drivers

Based on the regional analysis, the Asia Pacific region is anticipated to expand at a significant rate over the coming years. This is because of the intensified foreign direct investments and the perforation of the 2D protective coatings sector guided by the strategic government norms. Besides this, the easy accessibility of land and reduced labor industry has persuaded the U.S. and Europe to establish their production units in the countries like India and China.

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