Epoxy Coating Market

Epoxy Coating Market

Epoxy Coating Market Forecasts to 2028 – Global Analysis By Substrate (Wood, Metal, Concrete), Product (Waterborne, Powder), Application, End User, and By Geography

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4.2 (92 reviews)
Published: 2022 ID: SMRC21571

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2021)

US $33.77 BN

Projected Year Value (2028)

US $64.97 BN

CAGR (2021 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Fastest Growing Market

North America

According to Stratistics MRC, the Global Epoxy Coating Market is accounted for $33.77 billion in 2021 and is expected to reach $64.97 billion by 2028 growing at a CAGR of 9.8% during the forecast period. Epoxy coatings are durable coatings, formed by mixing epoxide resin and polyamine hardeners through a chemical process. Epoxy coatings are utilized for a number of reasons because of their capacity to generate a robust, durable, and chemically resistant material. The processing time for curing may vary from several minutes to hours depending on the hardness of the coating needed for the end-use purpose.

Market Dynamics:


Increasing demand for water-borne coatings

The rising demand for water-borne coatings is driving the epoxy coatings market, particularly in developing countries. High mechanical strength and toughness are the main properties exhibited by the water-borne epoxy coatings. Moreover, epoxy coatings technology is adopted because of the low pollution caused by them, under the government's strict regulations, mainly to control the air pollution. Therefore, the excessive utilization of water-borne coatings in building and construction, transportation, and other end-use industries will drive the growth of the epoxy coatings market.


High cost of epoxy coatings

Epoxy coatings are costlier to manufacture because the raw ingredients needed for manufacture are more expensive than other low-end coatings, and the manufacturing process is complex with a limited tolerance for mistakes. Most epoxy resins must pass some level of regulation to verify that they are FDA-compliant and food-safe, which further increases the cost. Epoxy resins are pricey as they are created with high-cost raw materials, demand skilled labor and accuracy.


Urbanization trend with rising income

People from rural regions move to towns for higher job opportunities, training, and higher lifestyles, because of different reasons. Increasing urbanization has triggered the demand for housing, particularly fine housing, throughout towns. This rising demand for high-quality homes will increase the demand for decorative paint in the future. Rising revenues and growing awareness of protective coatings applications have increased the demand for architectural paints as a result of the rising claims and income levels of the middle class. Changing trends in the home improvement industry and increasing disposable income are providing ample opportunities for the epoxy coating market growth.


Application process of epoxy floor coatings

The difficult application process of the epoxy floor coatings is a challenge to the market growth. Epoxy floor coatings cannot be applied to contaminated, unprepared, or damaged surfaces, unlike polyurethane floor coating. The floor should be clean without any grease, solvent, or oils over it, to ensure the long life of the coating. Repairing of the damaged surfaces is often needed, and the concrete is required to be ground to profile the surface. So, in comparison to other coatings, epoxy flooring has a slower turnover time. Thus, owing to the difficulty in the application process, the growth of the epoxy coatings market will be a challenge to the market in the forecast period.
The powder segment is expected to be the largest during the forecast period

The powder segment is estimated to have a lucrative growth as these epoxy coatings offer superior performance and are also economical for applications that need high abrasion resistance and hardness. In addition, because of their high adaptability, they are utilized in many applications. Moreover, the non-volatile organic compound emission properties of powder-based epoxy coatings are driving the epoxy coatings market.

The concrete segment is expected to have the highest CAGR during the forecast period

The concrete segment is anticipated to witness the fastest CAGR growth during the forecast period as epoxy floor coatings are utilized over concrete substrates owing to their impact resistance, hardness, and durable properties. As the building and construction activities are booming rapidly with industrial flooring as the major application in it, the demand for epoxy coating on the concrete substrate is also set to increase. Therefore, increased usage of epoxy coatings on the concrete substrate will drive the growth of the market in the forecast period.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period due to the increasing requirement for epoxy coatings in developing countries, growth of the transportation and construction industries, and other end-use industry. In addition countries such as India and Australia, are witnessing a rapid increase in transportation sectors where the epoxy coating is employed as a protective coating to provide structural integrity in transportation equipment and increase their average lifespan.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period owing to the increasing construction activities on account of low interest on housing loans coupled with the desire to advance public infrastructure to attract tourism. In addition, rising awareness among consumers regarding the benefits of environment-friendly products is likely to drive market growth.

Key players in the market

Some of the key players profiled in the Epoxy Coating Market include Tikkurila Oyj, Axalta Coating System, The Valspar Corporation, Berger Paints India Limited, TAO-CHUGOKU CO., LTD., RPM International Inc., PPG Industries Inc., Nippon Paint Company Limited, Kansai Paint Co., Ltd., Endura Manufacturing Company Ltd., BASF, The Sherwin Williams Company, AkzoNobel N.V. and Thermal-Chem Corporation.   

Key Developments:

In January 2021, AkzoNobel N.V. announced its agreement with Guangdong Water which involves providing high-performance Resicoat R2 coatings for the Pearl River Delta water resource allocation project.

In March 2020, TAO-CHUGOKU CO., LTD. launched solvent-free epoxy coating for water ballast tanks. It also meets new Korean regulations under the Atmospheric Environment Conservation Act for the management of volatile organic compounds (VOCs).
Substrates Covered:

• Wood
• Metal
• Concrete
Products Covered:
• Waterborne 
• Solvent Borne 
• Powder 
Applications Covered:
• Storage Tanks 
• Potting Compounds 
• Ballast Tanks 
• Passive Electronics 
• Containers 
• Packaging 
• Decks 
• Panels 
• Countertops 
• Flooring 
• Pipelines 
End Users Covered:
• General Industrial
• Building & Construction
• Food and Beverage
• Consumer Goods
• Adhesives
• Transportation
• Oil and Gas
• Paints & Coatings
• Electrical & Electronics
• Power Generation

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary            
2 Preface              

 2.1 Abstract            
 2.2 Stake Holders           
 2.3 Research Scope           
 2.4 Research Methodology          
  2.4.1 Data Mining          
  2.4.2 Data Analysis          
  2.4.3 Data Validation          
  2.4.4 Research Approach           
 2.5 Research Sources           
  2.5.1 Primary Research Sources         
  2.5.2 Secondary Research Sources         
  2.5.3 Assumptions          
3 Market Trend Analysis           
 3.1 Introduction           
 3.2 Drivers            
 3.3 Restraints           
 3.4 Opportunities           
 3.5 Threats            
 3.6 Product Analysis           
 3.7 Application Analysis          
 3.8 End User Analysis           
 3.9 Emerging Markets           
 3.10 Impact of Covid-19           
4 Porters Five Force Analysis           
 4.1 Bargaining power of suppliers          
 4.2 Bargaining power of buyers          
 4.3 Threat of substitutes          
 4.4 Threat of new entrants          
 4.5 Competitive rivalry           
5 Global Epoxy Coating Market, By Substrate         
 5.1 Introduction           
 5.2 Wood            
 5.3 Metal            
 5.4 Concrete            
6 Global Epoxy Coating Market, By Product         
 6.1 Introduction           
 6.2 Waterborne           
 6.3 Solvent Borne           
 6.4 Powder            
7 Global Epoxy Coating Market, By Application         
 7.1 Introduction           
 7.2 Storage Tanks            
 7.3 Potting Compounds           
 7.4 Ballast Tanks           
 7.5 Passive Electronics           
 7.6 Containers           
 7.7 Packaging           
 7.8 Decks            
 7.9 Panels            
 7.10 Countertops           
 7.11 Flooring             
 7.12 Pipelines            
8 Global Epoxy Coating Market, By End User         
 8.1 Introduction           
 8.2 General Industrial           
  8.2.1 Warehouses          
  8.2.2 Manufacturing Plants         
  8.2.3 Industrial Plants          
 8.3 Building & Construction          
  8.3.1 Commercial Construction    Shopping Malls    Hyper and Super Market   Educational Institutes   Banks and Financial Institutions  Hotels and Restaurants   Airports     Hospitals and Healthcare Infrastructure       
  8.3.2 Infrastructure     Tunnels and Mining    Roads      Dams     Bridges          
  8.3.3 Residential Construction    Row Homes    Large Apartment Buildings   Independent Homes        
 8.4 Food and Beverage           
 8.5 Consumer Goods           
 8.6 Adhesives           
 8.7 Transportation           
  8.7.1 Aerospace          
  8.7.2 Marine           
  8.7.3 Automotive     Passenger Cars    Light Commercial Vehicles    Heavy commercial Vehicle        
 8.8 Oil and Gas           
 8.9 Paints & Coatings           
 8.10 Electrical & Electronics          
 8.11 Power Generation           
9 Global Epoxy Coating Market, By Geography          
 9.1 Introduction           
 9.2 North America           
  9.2.1 US           
  9.2.2 Canada           
  9.2.3 Mexico           
 9.3 Europe            
  9.3.1 Germany           
  9.3.2 UK           
  9.3.3 Italy           
  9.3.4 France           
  9.3.5 Spain           
  9.3.6 Rest of Europe          
 9.4 Asia Pacific           
  9.4.1 Japan           
  9.4.2 China           
  9.4.3 India           
  9.4.4 Australia           
  9.4.5 New Zealand          
  9.4.6 South Korea          
  9.4.7 Rest of Asia Pacific          
 9.5 South America           
  9.5.1 Argentina          
  9.5.2 Brazil           
  9.5.3 Chile           
  9.5.4 Rest of South America         
 9.6 Middle East & Africa          
  9.6.1 Saudi Arabia          
  9.6.2 UAE           
  9.6.3 Qatar           
  9.6.4 South Africa          
  9.6.5 Rest of Middle East & Africa         
10 Key Developments            
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 10.2 Acquisitions & Mergers          
 10.3 New Product Launch          
 10.4 Expansions           
 10.5 Other Key Strategies          
11 Company Profiling            
 11.1 Tikkurila Oyj           
 11.2 Axalta Coating System          
 11.3 The Valspar Corporation          
 11.4 Berger Paints India Limited          
 11.5 TAO-CHUGOKU CO., LTD.          
 11.6 RPM International Inc.          
 11.7 PPG Industries Inc.           
 11.8 Nippon Paint Company Limited         
 11.9 Kansai Paint Co., Ltd.          
 11.10 Endura Manufacturing Company Ltd.         
 11.11 BASF            
 11.12 The Sherwin Williams Company         
 11.13 AkzoNobel N.V.           
 11.14 Thermal-Chem Corporation           

List of Tables             
1 Global Epoxy Coating Market Outlook, By Region (2020-2028) ($MN)       
2 Global Epoxy Coating Market Outlook, By Substrate (2020-2028) ($MN)       
3 Global Epoxy Coating Market Outlook, By Wood (2020-2028) ($MN)       
4 Global Epoxy Coating Market Outlook, By Metal (2020-2028) ($MN)       
5 Global Epoxy Coating Market Outlook, By Concrete (2020-2028) ($MN)       
6 Global Epoxy Coating Market Outlook, By Product (2020-2028) ($MN)       
7 Global Epoxy Coating Market Outlook, By Waterborne (2020-2028) ($MN)      
8 Global Epoxy Coating Market Outlook, By Solvent Borne (2020-2028) ($MN)      
9 Global Epoxy Coating Market Outlook, By Powder (2020-2028) ($MN)       
10 Global Epoxy Coating Market Outlook, By Application (2020-2028) ($MN)       
11 Global Epoxy Coating Market Outlook, By Storage Tanks (2020-2028) ($MN)      
12 Global Epoxy Coating Market Outlook, By Potting Compounds (2020-2028) ($MN)      
13 Global Epoxy Coating Market Outlook, By Ballast Tanks (2020-2028) ($MN)      
14 Global Epoxy Coating Market Outlook, By Passive Electronics (2020-2028) ($MN)      
15 Global Epoxy Coating Market Outlook, By Containers (2020-2028) ($MN)       
16 Global Epoxy Coating Market Outlook, By Packaging (2020-2028) ($MN)       
17 Global Epoxy Coating Market Outlook, By Decks (2020-2028) ($MN)       
18 Global Epoxy Coating Market Outlook, By Panels (2020-2028) ($MN)       
19 Global Epoxy Coating Market Outlook, By Countertops (2020-2028) ($MN)       
20 Global Epoxy Coating Market Outlook, By Flooring (2020-2028) ($MN)       
21 Global Epoxy Coating Market Outlook, By Pipelines (2020-2028) ($MN)       
22 Global Epoxy Coating Market Outlook, By End User (2020-2028) ($MN)       
23 Global Epoxy Coating Market Outlook, By General Industrial (2020-2028) ($MN)      
24 Global Epoxy Coating Market Outlook, By Warehouses (2020-2028) ($MN)      
25 Global Epoxy Coating Market Outlook, By Manufacturing Plants (2020-2028) ($MN)      
26 Global Epoxy Coating Market Outlook, By Industrial Plants (2020-2028) ($MN)      
27 Global Epoxy Coating Market Outlook, By Building & Construction (2020-2028) ($MN)     
28 Global Epoxy Coating Market Outlook, By Commercial Construction (2020-2028) ($MN)     
29 Global Epoxy Coating Market Outlook, By Infrastructure (2020-2028) ($MN)      
30 Global Epoxy Coating Market Outlook, By Residential Construction (2020-2028) ($MN)     
31 Global Epoxy Coating Market Outlook, By Food and Beverage (2020-2028) ($MN)       
32 Global Epoxy Coating Market Outlook, By Consumer Goods (2020-2028) ($MN)      
33 Global Epoxy Coating Market Outlook, By Adhesives (2020-2028) ($MN)       
34 Global Epoxy Coating Market Outlook, By Transportation (2020-2028) ($MN)      
35 Global Epoxy Coating Market Outlook, By Aerospace (2020-2028) ($MN)       
36 Global Epoxy Coating Market Outlook, By Marine (2020-2028) ($MN)       
37 Global Epoxy Coating Market Outlook, By Automotive (2020-2028) ($MN)      
38 Global Epoxy Coating Market Outlook, By Oil and Gas (2020-2028) ($MN)       
39 Global Epoxy Coating Market Outlook, By Paints & Coatings (2020-2028) ($MN)      
40 Global Epoxy Coating Market Outlook, By Electrical & Electronics (2020-2028) ($MN)     
41 Global Epoxy Coating Market Outlook, By Power Generation (2020-2028) ($MN)      
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at info@strategymrc.com

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