Luton, Bedfordshire, UK, August 26, 2022 (GLOBE NEWSWIRE) — Accuracy Consultancy, the market research and consultancy wing of Improve Digital Consultancy Private Limited has completed and published the final copy of the detailed research report in the coating systems market.
From 2022 to 2029, the coating systems market is expected to grow at a CAGR of 5.6%. From 221.28 billion USD in 2020, it is expected to exceed 362 billion USD by 2029.
A non-load-bearing layer called sheathing is used to cover the exterior of a building to shed water and protect it from the effects of the elements. Siding systems can consist of vertical or horizontal planks, sheets or smaller overlapping panels like tiles and shingles. The effectiveness of these systems, which use various techniques to keep rain and wind out of joints, varies depending on the direction, speed and intensity of the wind and the amount of rain exposure. The market is witnessing an increase in demand for cladding systems as they allow buildings to have exterior shielding and insulating cladding.
One of the key elements expected to support the expansion of global market revenue is the increasing number of construction plans in the world. Vinyl is typically used in a residential application due to its attractive appearance and finish, but siding can also be done using other materials such as wood, metal, etc. Coating Systems Market over the forecast period.
The current situation, with the development of the construction industry, has created a demand for attractive and energy-efficient buildings, which has opened up the market for coating systems.
The demand for improved cladding options and innovations is growing with increasing demand for energy efficient buildings, better insulation and optimal use of natural resources. The coating systems market is expected to enjoy growth prospects due to all these aspects.
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|Forecast period||2022 to 2029|
|Rate of growth||5.6%|
|Estimated market value||221.28 billion in 2020|
|Expected market value||362 billion by 2029|
|Analysis duration||7 years|
|Number of pages||138|
|Number of figures and tables||28 and 198|
|Company analysis||more than 10|
Middle East and Africa
|United States, Canada, Mexico, Japan, South Korea, India, Australia, ASEAN and rest of APAC, United Kingdom, Germany, France, Italy, Spain, Russia and rest of Europe, Brazil, Argentina and rest of South America, Turkey, United Arab Emirates, Saudi Arabia, South Africa and rest of MEA|
Due to its market dominance and 34% share of global revenue in 2021, the Asia-Pacific region has benefited from rising per capita income, rapid urbanization and growing demographics, as well as increased construction activity in emerging economies such as China, India and China. Japan.
Due to increasing residential demand and government measures to improve social infrastructure in the United States and Canada, the North American siding market is expected to expand significantly over the projected period. Additionally, raising consumer awareness of the benefits of weather protection for buildings will help the industry grow.
An increase in commercial construction activity is expected to increase demand for coatings in Europe over the projected period. Demand for the product is also expected to increase throughout the projected period due to an increase in the use of cladding to enhance a structure’s visual appeal.
Due to factors such as an increase in investments, an increase in oil production and better weather conditions, which are expected to drive the need for coating, the construction sector in the Middle East and Africa is expected to experience a rebound in growth over the projection period.
The growing infrastructure and construction sectors are expected to be major drivers for the expansion of the coating systems market. In order to protect the original structure of the building, coating systems are used in a variety of construction projects. These layers provide the building with increased aesthetics, weather protection and thermal insulation. In order to produce coating systems, strong materials such as steel, copper, aluminum, polymers and fiber cement are used.
The coating systems market is expected to grow rapidly due to significant growth in infrastructure and development activities across the globe. The coating systems market is expected to grow rapidly due to significant growth in infrastructure and development activities across the globe. For example, according to the US Census Bureau, the amount invested in residential construction nationwide in 2016 and 2018 was approximately US$473,687 million and US$546,136 million, respectively. This increased expense has increased the need for coating systems.
There are several growth prospects in the coating systems market through innovation. The introduction of an advanced coating system will secure the future of the market. Moreover, the current upward trend in demand will continue. The adoption of eco-friendly cladding panels will attract a lot of attention in the years to come. Users will be interested in cladding system panels made from recycled paper and agricultural waste.
The launch of these eco-friendly coating systems will open new opportunities for growth during the forecast period. Moreover, major players in the coating systems market are striving to offer durable coating systems. In the construction sector, the durability of cladding panels is crucial. Future growth prospects will be driven by the introduction of these new products. These hybrid siding panels are heat, chemical and corrosion resistant. The many growth prospects of the coating system will result in market growth.
Recent Industry Developments
Glen-Grey Corporation’s first ceramic coating system, erracade, was created in December 2020 with the two innovative problem-solving uses in mind. The new cladding system can accommodate a variety of architectural design types as it is fire resistant, low maintenance and flexible.
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Main key players
- DOW INC.
- COMPANY OF SAINT-GOBAIN SA
- TATA STEEL LIMITED
- WESTLAKE CHEMICAL
- JAMES HARDIE INDUSTRIES PLC
- CSR LIMITED
- NICHIHA COMPANY
- BORAL LIMITED
Who should buy?
- Manufacturing and construction manufacturers
- Coating system suppliers
- Machinery and equipment companies
- Manufacturing companies
- End user companies
- Research institutes
- Machinery & equipment
Key segments of the global coating systems market
- Brick & Stone
- Stucco and EIFS
- fiber cement
- Others (concrete and cladding)
- Others (vents and gutters)
- North America
- Asia Pacific
- South America
- Middle East and Africa
The global geomembrane market share is expected to reach USD 3.9 billion in 2028. During the forecast period, revenue is expected to increase with a CAGR of 7.82%.
insulation products market
The global insulation products market is expected to grow at a CAGR of 5.7% from 2022 to 2029. It is expected to reach over USD 85.53 billion by 2029, from USD 52.38 billion in 2020.