CLEVELAND, Oct. 29, 2019 /PRNewswire/ -- According to the study Global Construction Chemicals, demand for protective coatings and sealers is projected to increase 5.1% per year to $25.2 billion in 2023. Growth will be boosted by ongoing gains in construction activity globally, as well as increasing demand for higher value, better performing products with improved functionality.
- manufactured with more environmentally friendly solvents and low or no VOCs in order to improve indoor air quality
- improved sustainability and low waste
- ease of application and speed of drying
- self-cleaning or biocidal
- increased durability
The Asia/Pacific region is the largest market for protective coatings and sealers due to the presence of massive construction markets in China and India. Despite market size, opportunities for growth exist in both countries, which have low, but increasing, usage rates of protective coatings and sealers. An acceleration in construction activity in India will further boost gains.
The top three suppliers of construction chemicals globally – RPM International, PPG, and Sherwin-Williams – accounted for 30% of the market in 2018. Both RPM International and Sherwin-Williams have recently strengthened their positions in the global protective coatings and sealants market through the acquisition of other manufacturers.
Additional Chemicals studies can be viewed here: https://www.freedoniagroup.com/industry-category/chem/chemicals.htm
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
SOURCE The Freedonia Group