Growth in demand for protective and specialty coatings in the United States is primarily driven by growth in the industrial construction industry and growth in federal highway maintenance spending. In 2015, as oil prices reached multi-year lows, the growth of related coatings consumption was suppressed and reflected in multiple protective coatings and specialty coatings markets, especially marine coatings used on offshore drilling platforms. In addition, the automotive refinishing industry also accounts for a large share of the protective coatings and specialty coatings market demand, but the growth of this coatings consumption segment is hampered by the fact that automotive OEM coatings are becoming more durable and traffic accident rates continue to decline. inhibition.
On December 4, 2015, Obama signed the Fixing America’s Surface Transportation Act (FAST Act), thereby increasing the country’s need for road and bridge coatings . Additionally, recent legislative efforts in the United States to address the problems posed by the growing number of structurally deficient bridges will also drive demand for road and bridge coatings.
According to the latest research results of Freedonia Group, an industry research company in Cleveland, USA, although solvent-based coatings have historically dominated the U.S. protective coatings and specialty coatings industry, in 2020 Before 2018, water-based coatings will dominate the latter in this field, surpassing solvent-based coatings to become the most important variety.
This change in trend is mainly due to the further impact of regulatory policies and regulations on the protective coatings and professional coatings markets. Traditional organic solvents will gradually lose their advantages in coating formulations. In turn, there is a tendency to use water-based coatings, high-solids coatings, and other coating products with low or no VOC emission characteristics. This trend is emerging in the U.S. protective coatings and specialty coatings market.
Freedonia predicts that in the U.S. protective coatings and specialty coatings market, demand for water-based coating products will grow at an annual rate of 2.5% by 2020 and will reach 8,500 by then million gallons, replacing solvent-based coatings as the market leader.
In the automotive refinishing paint market, the substitution trend of water-based coatings is the most important. Solvent-based coatings have been widely used in this field historically, and currently the number of end users of automotive refinishing paints has become more and more important. More and more people tend to use water-based coatings because the latter has advantages in performance such as color matching capabilities compared to solvent-based coatings.
Furthermore, water-based coatings are also gaining a foothold in the marine coatings market as several global treaties and U.S. regulations have set strict limits on harmful emissions from marine coatings . Water-based coatings provide good adhesion to the main substrate used in shipbuilding (metals) and have become resistant to weather, chemicals and other harsh environments faced by various ships.
The U.S. protective coatings and specialty coatings market is currently valued at approximately $4.9 billion, with major application areas including industrial maintenance, automotive refinishing, marine equipment, roads and bridges, and other infrastructure In the protective and special professional market, suppliers of related products mainly include PPG, Sherwin-Williams, Valspar, RPM, Axalta, Akzo Nobel, BASF and Ennis-Flint, etc.
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