Overview and Scope
Epoxy primer refers to a sealer with a non-porous finish that is used on a wide range of materials due to its strong adhesion, good mechanical ability, and long-lasting chemical resistance in wet and high-humidity environments. The thickness of an epoxy primer determines how well it can protect the material against corrosion. Epoxy primer is used as the first base coat over bare metal.
Sizing and Forecast
The epoxy primer market size has grown strongly in recent years. It will grow from <b>$10.22 billion in 2023 to $10.95 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. </b> The growth in the historic period can be attributed to infrastructure development, corrosion prevention, industrialization, advancements in formulations, demand from automotive and aerospace sectors.
The epoxy primer market size is expected to see strong growth in the next few years. It will grow to <b>$14.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. </b> The growth in the forecast period can be attributed to emerging markets, regulatory compliance, defense and military applications, sustainable coatings, renewable energy infrastructure. Major trends in the forecast period include high-performance epoxy primers, waterborne epoxy primers, concrete substrate priming, hybrid epoxy primers, nanotechnology in epoxy primers.
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Segmentation & Regional Insights
The epoxy primer market covered in this report is segmented –
1) By Substrate: Metal, Concrete And Masonry, Fiberglass, Other Substrates
2) By Technology: Solvent-Borne, Waterborne
3) By Application: Building And Construction, Automotive, Marine, Machinery And Equipment, Other Applications
<b>Asia-Pacific</b> was the largest region in the epoxy primer market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the epoxy primer market during the forecast period. The regions covered in the epoxy primer market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The booming automotive industry is expected to propel the growth of the epoxy primer market going forward. The automotive industry comprises the companies involved in the design, manufacture, and sale of motor vehicles and related components. Epoxy coatings are frequently used in the automotive sector as primers to increase the adherence of the metal surface since paints in the automotive sector are crucial for resisting corrosion. Hence, the boom in the automotive industry results in an increased demand for epoxy primers. For instance, according to a report shared by the India Brand Equity Foundation, commonly known as IBEF, an Indian government export promotion agency, vehicle production in India was 22.93 million vehicles in 2022. Therefore, the booming automotive industry is driving the growth of the epoxy primer market.
Key Industry Players
Major companies operating in the epoxy primer market include <b> PPG Industries Inc., Akzo Nobel N.V., Sherwin-Williams, Axalta Coating Systems LLC, BASF SE, Berger Paints India Limited, Chugoku Marine Paints Ltd., Hempel A/S, Jotun A/S, Kansai Paint Co. Ltd., Nippon Paint Co. Ltd., RPM International Inc., Tikkurila Oyj, Asian Paints Ltd., Benjamin Moore & Co., Carboline Company, Cloverdale Paint Inc., Diamond Vogel Paints, Dunn-Edwards Corporation, H.B. Fuller Company, International Paint Ltd., J.W. Ostendorf GmbH & Co. KG, KCC Corporation, Krylon Products Group, Mascoat, NPA Coatings Inc., Rust-Oleum Corporation, Tnemec Company Inc., Valspar Corporation </b>
The epoxy primer market report table of contents includes:
1. Executive Summary
2.Epoxy Primer Market Characteristics
3.Epoxy Primer Market Trends And Strategies
4.Epoxy Primer Market analysis
5. Epoxy Primer Market Size And Growth
6.Epoxy Primer Segmentation
7. Epoxy Primer Regional And Country Analysis
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27.Epoxy Primer Competitive Landscape And Company Profiles
28.Epoxy Primer Key Mergers And Acquisitions
29.Epoxy Primer Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- PPG Industries Inc.
- Akzo Nobel N.V.
- Sherwin-Williams
- Axalta Coating Systems LLC
- BASF SE
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