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Functional Coating Trends and Forecast
The future of the global functional coating market looks promising with opportunities in the automotive, aerospace, construction, electronic, and marine markets. The global functional coating market is expected to reach an estimated $753.2 million by 2030 with a CAGR of 5.4% from 2024 to 2030. The major drivers for this market are growing desire to increasing demand from end use industries like automotive and aerospace industries, elevated investment in research and development (R&D), along with rising governmental intiavtive to restrict the usage of hazardous chemicals and promote environmental sustainability worldwide.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Functional Coating by Segment
The study includes a forecast for the global functional coating by product type, end use industry, and region.
Functional Coating Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• Corrosion-Resistant Coatings
• Wear-Resistant Coatings
• Thermal Barrier Coatings
• Anti-Fouling Coatings
• Self-Cleaning Coatings
Functional Coating Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
• Automotive
• Aerospace
• Construction
• Electronics
• Marine
• Others
Functional Coating Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Functional Coating Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies functional coating companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the functional coating companies profiled in this report include-
• PPG Industries
• AkzoNobel
• Axalta Coating Systems
• BASF
• Kansai Paint
• Jotun A/S
• Nippon Paint Holdings
• Sherwin-Williams Company
• Rpm International
• Berger Paints
Functional Coating Market Insights
Lucintel forecasts that corrosion-resistant coatings will remain the largest segment over the forecast period because it is designed to protect metallic surfaces from the effects of corrsion caused by exposure to environmental factors, such as mositure, salt, and chemicals, as well as, growing demand for durable, high-performance coatings capable of withstanding harsh environmental conditions over an extended period.
Within this market, automotive will remain the largest segment over the forecast period due to growing demand for coatings aimed at enhancing the functionality, performance, and durability of automotive parts and components, as well as, increasing desire for advanced technologies and lightweight materials to enhance fuel efficiency and reduce emissions.
APAC will remain the fastest growing region over the forecast period due to presence of swiftly growing economies like China and India, escalating investments in infrastructure development, and increasing demand from key sectors, such as automotive, construction, and electronics in this region.
Features of the Global Functional Coating Market
Market Size Estimates: Functional coating market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Functional coating market size by product type, end use industry, and region in terms of value ($B).
Regional Analysis: Functional coating market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, end use industries, and regions for the functional coating market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the functional coating market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the functional coating market size?
Answer: The global functional coating market is expected to reach an estimated $753.2 million by 2030.
Q.2 What is the growth forecast for functional coating market?
Answer: The global functional coating market is expected to grow with a CAGR of 5.4% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the functional coating market?
Answer: The major drivers for this market are growing desire to increasing demand from end use industries like automotive and aerospace industries, elevated investment in research and development (R&D), along with rising governmental intiavtive to restrict the usage of hazardous chemicals and promote environmental sustainability worldwide.
Q4. What are the major segments for functional coating market?
Answer: The future of the functional coating market looks promising with opportunities in the automotive, aerospace, construction, electronic, and marine markets.
Q5. Who are the key functional coating market companies?
Answer: Some of the key functional coating companies are as follows:
• PPG Industries
• AkzoNobel
• Axalta Coating Systems
• BASF
• Kansai Paint
• Jotun A/S
• Nippon Paint Holdings
• Sherwin-Williams Company
• Rpm International
• Berger Paints
Q6. Which functional coating market segment will be the largest in future?
Answer: Lucintel forecasts that corrosion-resistant coatings will remain the largest segment over the forecast period because it is designed to protect metallic surfaces from the effects of corrsion caused by exposure to environmental factors, such as mositure, salt, and chemicals, as well as, growing demand for durable, high-performance coatings capable of withstanding harsh environmental conditions over an extended period.
Q7. In functional coating market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the fastest growing region over the forecast period due to presence of swiftly growing economies like China and India, escalating investments in infrastructure development, and increasing demand from key sectors, such as automotive, construction, and electronics in this region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the functional coating market by product type (corrosion-resistant coatings, wear-resistant coatings, thermal barrier coatings, anti-fouling coatings, and self-cleaning coatings), end use industry (automotive, aerospace, construction, electronics, marine, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Functional Coating Market, Functional Coating Market Size, Functional Coating Market Growth, Functional Coating Market Analysis, Functional Coating Market Report, Functional Coating Market Share, Functional Coating Market Trends, Functional Coating Market Forecast, Functional Coating Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Functional Coating Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Functional Coating Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Functional Coating Market by Product Type
3.3.1: Corrosion-Resistant Coatings
3.3.2: Wear-Resistant Coatings
3.3.3: Thermal Barrier Coatings
3.3.4: Anti-Fouling Coatings
3.3.5: Self-Cleaning Coatings
3.4: Global Functional Coating Market by End Use Industry
3.4.1: Automotive
3.4.2: Aerospace
3.4.3: Construction
3.4.4: Electronics
3.4.5: Marine
3.4.6: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Functional Coating Market by Region
4.2: North American Functional Coating Market
4.2.2: North American Functional Coating Market by End Use Industry: Automotive, Aerospace, Construction, Electronics, Marine, and Others
4.3: European Functional Coating Market
4.3.1: European Functional Coating Market by Product Type: Corrosion-Resistant Coatings, Wear-Resistant Coatings, Thermal Barrier Coatings, Anti-Fouling Coatings, and Self-Cleaning Coatings
4.3.2: European Functional Coating Market by End Use Industry: Automotive, Aerospace, Construction, Electronics, Marine, and Others
4.4: APAC Functional Coating Market
4.4.1: APAC Functional Coating Market by Product Type: Corrosion-Resistant Coatings, Wear-Resistant Coatings, Thermal Barrier Coatings, Anti-Fouling Coatings, and Self-Cleaning Coatings
4.4.2: APAC Functional Coating Market by End Use Industry: Automotive, Aerospace, Construction, Electronics, Marine, and Others
4.5: ROW Functional Coating Market
4.5.1: ROW Functional Coating Market by Product Type: Corrosion-Resistant Coatings, Wear-Resistant Coatings, Thermal Barrier Coatings, Anti-Fouling Coatings, and Self-Cleaning Coatings
4.5.2: ROW Functional Coating Market by End Use Industry: Automotive, Aerospace, Construction, Electronics, Marine, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Functional Coating Market by Product Type
6.1.2: Growth Opportunities for the Global Functional Coating Market by End Use Industry
6.1.3: Growth Opportunities for the Global Functional Coating Market by Region
6.2: Emerging Trends in the Global Functional Coating Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Functional Coating Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Functional Coating Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: PPG Industries
7.2: AkzoNobel
7.3: Axalta Coating Systems
7.4: BASF
7.5: Kansai Paint
7.6: Jotun A/S
7.7: Nippon Paint Holdings
7.8: Sherwin-Williams Company
7.9: RPM International
7.10: Berger Paints
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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