"Innovative Market Solutions to Help Businesses Make Informed Decisions"

Epoxy Coating Market Size, Share & COVID-19 Impacts Analysis, By Type (Water Based, Solvent Based, and Powder Based), By Application (Construction, Transportation, Industrial, and Others), and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI106521



Play Audio Listen to Audio Version

The global epoxy coating market size was USD 34.55 billion in 2020. The market is projected to grow from USD 36.53 billion in 2021 to USD 52.13 billion in 2028 at a CAGR of 5.2% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with epoxy coating witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline of 2.55% in 2020 as compared to the average year-on-year growth during 2017-2019. The sudden decline in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.

Epoxy coatings are utilized for a number of reasons due to their capacity to generate a robust, durable, and chemically resistant material. They are utilized in a range of electrical, automotive, and marine applications as well as in industrial production plants. They are popular as they give metals and other materials a quick drying, strong, and protective covering.


Mixed Influence of COVID-19 on the Paints & Coatings Industry to Challenge Growth Forecast

According to the World Paint & Coatings Industry Association, COVID-19 reduced the global paints & coatings market sales volume to USD 167.6 billion in 2020, down 3% from the previous year. Although the paints and coatings market's overall tendency shifts in anticipation, substantial differences have emerged in distinct market segments. The initial breakout of the COVID-19 pandemic scenario happened in Asia, followed by rigorous lockdown and detection measures, causing its market performance to decrease first, then rise, and overall performance to be down 1% from the previous year. In the Euro-American region, due to the long-term recurrence of the COVID-19 epidemic and lack of effective control, continuous lockdown measures have seriously affected the production and commercial conditions of the factories, causing uneven results in the global performance.

In comparison to 2019, the volume of industrial coatings demand decreased by 6.8% in 2020. Industrial coatings demand was projected not to recover from the COVID-19 period until the second part of 2021. Architectural coatings, on the other hand, witnessed 5.2% rise in demand. The shifting patterns are primarily due to the good sales of architectural coatings in Europe and North America. Home renovation projects became popular in the Euro-American region while consumers were stranded in their houses for an extended period of time, resulting in a dramatic spike in architectural coatings sales.

The paints and coatings market is expected to resume its previous strong growth trajectory with the launch of COVID-19 vaccinations.


Request a Free sample to learn more about this report.

India’s Urbanization Trend with Rising Income to Foster Market

The percentage of India’s city population with regards to its general population has been growing over the years. People from rural regions migrate to towns for higher job opportunities, training, and higher lifestyles, owing to different reasons. According to the World Economic Forum, 40% of Indians are predicted to be city residents by 2030. In India, increasing urbanization has triggered the demand for housing, especially fine housing, throughout Indian towns. This increasing demand for high-quality homes will surge the demand for decorative paint in the future. Rising revenues and growing awareness of protection coatings applications have increased the demand for architectural paints in India as a result of the rising claims and income levels of the middle class over the past 10 years. Changing trends in the home improvement industry and increasing disposable income are drivers for the epoxy coating market growth.


Growing Demand for Epoxy Coating in the Construction Sector to Spur Industry Growth

Epoxy coatings are long-lasting coatings that are utilized for a wide range of applications. These coatings are popular as they provide a quick-drying, durable, and protective coating for metals and other materials. Unlike traditional powder coatings, these coatings are quick and easy to apply, making them ideal for a variety of applications. They produce a long-lasting and durable flooring solution when utilized in flooring applications. They are used on concrete floors in a variety of commercial and industrial applications such as commercial and retail stores, manufacturing plants, industrial plants, hospitals, warehouses, showrooms, aircraft hangars, and garages. They have a glossy finish and come in a variety of colors and styles. Terrazzo flooring, hardwood floors, and colored floors are some of the decorative possibilities available when employing an epoxy floor finish. Epoxy floor coatings are chemically resistant and easy to clean flooring solution that may be applied directly to new or existing concrete floors.

They are extremely resistant to corrosion and harsh chemicals, which makes them incredible metal protectants. Epoxy-based powder coatings are used to coat pipes, poles, pillars, and reinforcement steel in high-load concrete structures. Naval vessels and buried structural foundations enjoy a wide range of corrosion protection benefits of epoxies. Epoxy flooring coatings are commonly used in factories and warehouses due of their ease of cleaning, aesthetics, mechanical strength, and resistance to corrosive liquids such as oil, chemicals, and diluted acids.


High Cost of Epoxy Coatings Likely to Hinder Market

Epoxy coatings are costlier to manufacture than other coatings. This is attributed to the fact that the raw ingredients necessary for manufacture are much more expensive than other low-end coatings, and the manufacturing process is complex with a limited tolerance for mistakes. Furthermore, most epoxy resins must pass some level of regulation to verify that they are FDA-compliant and food-safe, which increases the cost.

Epoxy resins are pricey as they are created with high-cost raw materials, demand skilled labor and accuracy, necessitate costly marketing, and are frequently manufactured in places where all of the above are more expensive. Furthermore, when these resins are sold in huge numbers, their price rises even more.


By Type Analysis

Water-based Segment to Generate High Revenue Owing to Environment Sustainability

Based on type, the market is segmented into water-based, solvent-based, and powder-based coatings. Water-based coating is the dominant segment in this market, and was created as a replacement for solvent-based coatings, which contain a lot of VOC emissions, are less eco-friendly, and cause a lot of health problems. Water-based coatings are made using green technology, which is more environment-friendly and complies with the safety requirements set by REACH and other government agencies.

Water-borne technologies are preferred as they are VOC-free and more environment-friendly. Due to developments, water-borne coatings continue to compete with solvent-borne coatings for most applications.

By Application Analysis

To know how our report can help streamline your business, Speak to Analyst

Construction Segment to Hold Significant Share Due to Rise in Residential, Commercial, and Industrial Projects

The market is segmented into construction, transportation, industrial, and others. Construction is the largest application of market. Rapid urbanization, rising disposable income, and expanding GDP in the Asia Pacific surge the demand for residential, commercial, and industrial infrastructure, as well as residential and commercial building renovations and re-painting.

Epoxy based coating demand in the motor vehicle industry has decreased as a result of temporary factory closures. Moreover, manufacturing of non-essential commodities was halted in many parts of the world for several months to a year, which also resulted in the decline in product demand. However, by 2024, demand for OEM coatings in the motor vehicle market is expected to surge, fueled by recovering vehicle manufacturing, particularly in Asia Pacific, where output is expected to skyrocket. This would boost the market.


Asia Pacific Epoxy Coating Market Size, 2020 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample

The market size in Asia Pacific stood at USD 16.23 billion in 2020. The epoxy coating market in Asia Pacific is increasing, owing to the region's stable economy, growing disposable income, and improved living standards in developing countries such as China, India, Malaysia, and Vietnam. The expansion of the construction and automotive sectors in rising economies, including China, Thailand, India, and Taiwan is expected to boost industry growth. The building of new residential and commercial structures is a priority for China, Japan, India, Indonesia, Malaysia, and the Philippines, among other APAC countries. Developments in civil construction and a strong need for efficient epoxy paints are driving the market.

Amidst environmental concerns, these coatings are likely to gain appeal in North America. Superior characteristics, such as durability, good finishing, and great resistance to chipping, corrosion, and abrasion are boosting the market in North America. The increase in production capacity by major automakers in the U.S. is projected to boost the market growth.

In Germany, Hungary, Romania, Austria, and the U.K., where firms have a strong industrial base, the demand is projected to be driven by increased construction and rising vehicle production.

To know how our report can help streamline your business, Speak to Analyst

Due to the presence of manufacturers in Latin America and the Middle East and Africa, the market is projected to increase at a stable rate. Imports are used to fulfill the majority of demand in these areas.


Key Companies to Conduct Research and Development Activities to Increase Market Presence

Players in the industry mostly operate based on the product's pricing and application qualities. Several big businesses are forming strategic partnerships to enhance brand and sales to increase their market share and get a competitive edge.

Companies have utilized a number of strategies to increase their market share, including mergers and acquisitions, investment and expansion, and product creation. Manufacturers are putting a lot of money into research and development and depending on technical improvements through product diversification and cheap pricing.

Some of the key players operating in the global market are AkzoNobel, Axalta Coating Systems, PPG Industries, Inc., PPG Industries, Inc., the Valspar Corporation, and Sherwin-Williams Company.



  • October 2020 –After being acquired by an associate of Lone Star, a worldwide private equity company, the MBCC Group has arisen from the former BASF Construction Chemicals business and on October 1, 2020, it will begin operations.

  • September 2020– PPG announced the launch of full range of coating systems that include base coats, prime coats, and topcoats under PPG flooring coatings. It is designed to deliver the best performance based on specific work environment.


An Infographic Representation of Epoxy Coating Market

To get information on various segments, share your queries with us

The research study examines the market in depth, focusing on critical elements such as major organizations, types, and applications. In addition, the study provides insights into epoxy coating market trends as well as key industry developments. In addition to the variables listed above, the study covers a variety of other factors that influence the market's recent expansion.

This study examines the industry's newest market dynamics and opportunities, as well as historical data and revenue growth estimates at global and regional levels.

Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period



Value (USD Billion) and Volume (Kilo Tons)


Type, Application, and Region

By Type

  • Water-based

  • Solvent-based

  • Powder-based 

By Application

  • Construction

  • Transportation

  • Industrial

  • Others

By Region

  • North America (By Type, By Application)

      • U.S. (By Application)

      • Canada (By Application)

  • Europe (By Type, By Application)

      • Germany (By Application)

      • U.K. (By Application)

      • France (By Application)

      • Italy (By Application)

      • Rest of Europe (By Application)

  • Asia Pacific (By Type, By Application)

      • China (By Application)

      • Japan (By Application)

      • India (By Application)

      • Rest of Asia Pacific (By Application)

  • Latin America (By Type, By Application)

      • Brazil (By Application)

      • Mexico (By Application)

      • Rest of Latin America (By Application)

  • Middle East & Africa (By Type, By Application)

      • GCC (By Application)

      • South Africa (By Application)

      • Rest of Middle East & Africa (By Application)

Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 34.55 billion in 2020 and is projected to reach USD 52.13 billion by 2028.

In 2020, the Asia Pacific market size stood at USD 16.23 billion.

Growing at a CAGR of 5.2%, the market will exhibit steady growth during the forecast period (2021-2028).

The construction segment is the leading segment in this market during the forecast period.

Growing demand from the construction sector will drive the market.

AkzoNobel, Axalta Coating Systems, PPG Industries, Inc., PPG Industries, Inc., the Valspar Corporation, and Sherwin-Williams Company are major players in the global market.

Asia Pacific dominated the market share in 2020.

The growing demand for powder coatings is expected to fuel the market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Mar, 2022
  • 2020
  • 2017-2019
  • 80


  • $4850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Chemicals & Materials Clients


Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.