NEW YORK, Aug. 30, 2016 /PRNewswire/ --
Plastic coatings market projected to reach USD 7.76 billion by 2021
The plastic coatings market is projected to reach USD 7.76 billion by 2021, at a CAGR of 5.5% from 2016 to 2021. The increasing consumption of plastic coatings in the building & construction and automotive industries, as well as the recent technological advancements in coating-producing plants are some of the key factors driving the growth of the plastic coatings market.
Polyurethane plastic coatings segment to register high growth due to its advantages over other materials
The use of polyurethane coatings is gaining popularity, owing to its high performance. They are mainly used in the development of automobiles, ships, aircraft, and other industrial components. Moreover, the unique properties of polyurethane, such as superior strength, flexibility, abrasion resistance, moisture resistance, and low temperature performance have contributed to the growth in demand of polyurethane plastic coatings.
Asia-Pacific to register the highest growth in the plastic coatings market by 2021
The plastic coatings market in Asia-Pacific is projected to register the highest CAGR between 2016 and 2021. The growth of Asia-Pacific plastic coatings market is driven by the increasing demand of plastic coatings from China and other countries in the region. China is the major consumer of plastic coatings in Asia-Pacific with high demand in building & construction and automotive industries, followed by Japan and India. The plastic coatings market in India is estimated to grow at the highest CAGR between 2016 and 2021.
BREAKDOWN OF PROFILE OF PRIMARY PARTICIPANTS:
- By Company Type: Tier 1 - 57 %, Tier 2 - 29%, and Tier 3 - 14%
- By Designation: C Level - 55%, Director Level - 36%, and Others - 9%
- By Region: North America - 57%, Europe- 14%, Asia-Pacific- 22%, and RoW - 7%
The major companies profiled in this report include PPG Industries Inc. (U.S.), Bayer AG (Germany), Axalta Coating Systems (U.S.), and AkzoNobel N.V. (Netherlands), 3M (U.S.), Eastman Chemical Company (U.S.), Axalta Coatings System LTD. (U.S.), Kansai Paint Co., LTD. (Japan), BASF SE (Germany), and Wacker Chemie AG (Germany), among others.
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This report covers the following key aspects:
- The market size by 2021 and its growth rate
- Key market trends
- Factors expected to drive the growth of the market
- Challenges that impact market growth
- Key players in this market
- Geographical analysis of regions, such as North America, Europe, and Asia-Pacific, including major countries in these regions, such as the U.S., China, Taiwan, and Germany
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