Global Specialty Coating Market

Global Specialty Coating Market Size, Share, Growth Analysis, By Resin types(Epoxy, polyurethane), By Technology(Solvent based, water based), By Application(Aerospace, automotive), By Functionality(Corrosion resistance, fire resistance) - Industry Forecast 2023-2030


Report ID: SQMIG15E2154 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 124 | Figures: 77

Global Specialty Coating Market Insights

Specialty Coating Market size was valued at USD 2.98 billion in 2021 and is poised to grow from USD 3.07 billion in 2022 to USD 3.93 billion by 2030, growing at a CAGR of 3.13% in the forecast period (2023-2030).

Specialty Coating is becoming popular since It offers several advantages such as improved performance, durability, cost effectiveness, environmental benefits, and customizations.

Specialty coatings are designed to enhance the performance and functionality of the products they are applied to. These coatings can provide a range of benefits such as resistance to wear and tear, protection from harsh environmental conditions, and improved aesthetics. One of the main benefits of specialty coatings is that they enhance the performance of products. They can impart resistance to wear and tear, protecting products from damage and extending their lifespan. Furthermore, specialty coatings provide excellent protection against harsh environmental conditions, such as extreme temperatures, moisture, and chemical exposure. Apart from performance benefits, specialty coatings also improve the aesthetics of products. These coatings can be customized to provide a range of finishes, from matte to glossy, to meet the desired appearance and visual appeal. This is particularly important in industries such as automotive and consumer electronics, where the appearance of products plays a crucial role in their marketability. Specialty coatings are also cost-effective compared to conventional coatings. They can be applied in thin layers, reducing the amount of coating material required while still providing the same level of protection. This translates to lower material costs and a more sustainable manufacturing process.

US Specialty Coating Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 2.98 billion

Largest Segment

Construction.

Fastest Growth

Automotive

Growth Rate

3.13% CAGR

Global Specialty Coating Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
GlobalSpecialty Coating Market Size By Application 2021-2030 ($ Bn)
GlobalSpecialty Coating Market Size By Application 2021-2030 (%)

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Global Specialty Coating Market Segmental Analysis

Global Specialty Coating market is segmented on the basis of Resin type, technology, application, functionality, and region. By Resin type, the Specialty Coating Market is segmented into Epoxy, polyurethane, acrylic, and others. By Technology, the Specialty Coating Market is segmented into Solvent based, water based, powder based and others. By Application, the market is segmented into Aerospace, Automotive, marine, industrial, construction, and others. By Functionality, the market is segmented into Corrosion resistance, fire resistance, anti falling, antimicrobial, and others. By region, the Specialty Coating Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Specialty Coating Market Analysis by Application

Specialty coatings have different application segments that dominate the market depending on the region and industry sector. Protective and architectural coatings have been in high demand in the construction industry, making it a major driver of the specialty coating market.

Meanwhile, the market for specialty coatings used in the automotive industry is expected to grow rapidly due to the rising need for high-performance coatings that offer protection against corrosion, abrasion, and wear. This demand is further driven by the increasing popularity of electric vehicles and the trend towards using lightweight materials in the automotive industry, which increases the need for specialty coatings.

GlobalSpecialty Coating Market By Application 2021(%), 2021 (%)

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Global Specialty Coating Market Regional Insights

The specialty coating market has traditionally been dominated by North America owing to the presence of advanced technologies and significant R&D activities in the pharmaceutical and biotechnology industries.

However, the Asia-Pacific region is projected to be the fastest-growing market due to increasing investments in pharmaceutical and biotech R&D and the growing adoption of advanced medical technologies. Furthermore, government initiatives in the region aimed at promoting the growth of the biopharmaceutical industry are expected to further drive the demand for specialty coatings..

Global Specialty Coating Market By Geography, 2021-2030, 2023-2030
  • Largest
  • Fastest

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Global Specialty Coating Market Dynamics

Specialty Coating Market Drivers

Infrastructure Development to Bolster Market Growth

  • The market growth for specialty coatings is anticipated to surge due to the rising demand in the construction industry, primarily driven by the acceleration of urbanization and infrastructure development. The utilization of specialty coatings in buildings, bridges, and other structures is rapidly increasing, which further augments the demand for specialty coatings.

Specialty Coating Market Restraints

Limited Application Area to Hinder Market Growth

  • Specialty coatings are tailored to meet specific needs and requirements of various industries and applications, which can limit their versatility. As a result, manufacturers may need to use multiple types of specialty coatings to address different product requirements, which can increase costs. This limitation in versatility can also result in a longer lead time for manufacturers to develop specialty coatings that cater to their specific needs. In some cases, manufacturers may need to invest in research and development to create a custom coating that meets their requirements, further adding to the overall costs..

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Global Specialty Coating Market Competitive Landscape

The market for specialty coatings is highly competitive, with a significant number of global players vying for a larger share of the market. These companies are investing heavily in research and development to create innovative and advanced products to meet the rising demand from various end-use industries. Moreover, they are adopting various growth strategies, such as mergers and acquisitions, collaborations, and partnerships, to expand their market presence.The companies are also focusing on expanding their production capacity to meet the growing demand for specialty coatings. Additionally, they are concentrating on improving their distribution channels and customer relationships to enhance their market position.

To differentiate themselves, the market players are offering a diverse range of products and customized solutions to their customers. They are also adopting sustainable practices and developing eco-friendly specialty coatings to cater to the increasing demand for environmentally friendly products. The specialty coating market is fiercely competitive, and companies are continually striving to maintain their market position by providing high-quality products and competitive prices to their customers.

Specialty Coating Market Top Player’s Company Profiles

  • PPG Industries
  • Akzo Nobel
  • Axalta Coating Systems
  • Sherwin-Williams
  • Nippon Paint Holdings
  • RPM International
  • Hempel A/S
  • Jotun
  • Kansai Paint
  • BASF SE
  • The Valspar Corporation
  • Asian Paints Limited
  • Berger Paints India Limited
  • KCC Corporation
  • Sika AG
  • Diamond Vogel Paints
  • Tikkurila Oyj
  • Cloverdale Paint Inc.
  • Teknos Group
  • J.W. Ostendorf GmbH & Co. KG.

Specialty Coating Market Recent Developments

  • In February 2022, RMA Group of Companies, a firm under OceanSound Partners' portfolio, announced its acquisition of Coating Specialists and Inspection Services, Inc. also known as CSI Services, Inc. This California-based company specializes in providing inspection services for specialty coatings.

Global Specialty Coating Key Market Trends

  • Powder coatings are becoming increasingly popular owing to their excellent performance, durability, and environmentally friendly nature. They are extensively utilized in a variety of applications such as automotive coatings, architectural coatings, and industrial coatings.

Global Specialty Coating Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

Our analysis of the global specialty coating market indicates significant growth during the forecast period. This growth is attributed to the numerous advantages of specialty coatings, including improved performance, durability, cost-effectiveness, environmental benefits, and customization options. The market is expected to grow due to increasing demand from the construction industry, driven by urbanization and infrastructure development.

However, it's important to note that specialty coatings are designed to meet specific needs and requirements of various industries and applications, which can limit their versatility. As a result, manufacturers may need to use multiple types of specialty coatings to address different product requirements, which can increase costs.

Report Metric Details
Market size value in 2021 USD 2.98 billion
Market size value in 2030 USD 3.07 billion
Growth Rate 3.13%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Resin types
    • Epoxy, polyurethane, acrylic, and others
  • Technology
    • Solvent based, water based, powder based, and others
  • Application
    • Aerospace, automotive, Marine, industrial, construction, and others
  • Functionality
    • Corrosion resistance, fire resistance, anti falling, anti microbial, and others.
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • PPG Industries
  • Akzo Nobel
  • Axalta Coating Systems
  • Sherwin-Williams
  • Nippon Paint Holdings
  • RPM International
  • Hempel A/S
  • Jotun
  • Kansai Paint
  • BASF SE
  • The Valspar Corporation
  • Asian Paints Limited
  • Berger Paints India Limited
  • KCC Corporation
  • Sika AG
  • Diamond Vogel Paints
  • Tikkurila Oyj
  • Cloverdale Paint Inc.
  • Teknos Group
  • J.W. Ostendorf GmbH & Co. KG.
Customization scope

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  • Company profile
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  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Specialty Coating Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Specialty Coating Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Specialty Coating Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Specialty Coating Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Specialty Coating Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Specialty Coating Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Specialty Coating Market size was valued at USD 2.98 billion in 2021 and is poised to grow from USD 3.07 billion in 2022 to USD 3.93 billion by 2030, growing at a CAGR of 3.13% in the forecast period (2023-2030).

The market for specialty coatings is highly competitive, with a significant number of global players vying for a larger share of the market. These companies are investing heavily in research and development to create innovative and advanced products to meet the rising demand from various end-use industries. Moreover, they are adopting various growth strategies, such as mergers and acquisitions, collaborations, and partnerships, to expand their market presence.The companies are also focusing on expanding their production capacity to meet the growing demand for specialty coatings. Additionally, they are concentrating on improving their distribution channels and customer relationships to enhance their market position. 'PPG Industries', 'Akzo Nobel', 'Axalta Coating Systems', 'Sherwin-Williams', 'Nippon Paint Holdings', 'RPM International', 'Hempel A/S', 'Jotun', 'Kansai Paint', 'BASF SE', 'The Valspar Corporation', 'Asian Paints Limited', 'Berger Paints India Limited', 'KCC Corporation', 'Sika AG', 'Diamond Vogel Paints', 'Tikkurila Oyj', 'Cloverdale Paint Inc.', 'Teknos Group', 'J.W. Ostendorf GmbH & Co. KG.'

The market growth for specialty coatings is anticipated to surge due to the rising demand in the construction industry, primarily driven by the acceleration of urbanization and infrastructure development. The utilization of specialty coatings in buildings, bridges, and other structures is rapidly increasing, which further augments the demand for specialty coatings.

Powder coatings are becoming increasingly popular owing to their excellent performance, durability, and environmentally friendly nature. They are extensively utilized in a variety of applications such as automotive coatings, architectural coatings, and industrial coatings.

The specialty coating market has traditionally been dominated by North America owing to the presence of advanced technologies and significant R&D activities in the pharmaceutical and biotechnology industries.

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