High-performance coatings is a kind of varnish used to enhance the outside physical properties , it can improve the resistance of the surface of the object to water, temperature and other environmental factors.Due to the stable demand in many end-use industries, it shows that the coatings market in the coming years may show steady growth.In 2017, the valuation of global high-performance coatings market is estimated to be $7.91 billion.The valuation may rise beyond $102 billion by 2022, an increase of 5.2%.

End-use industry demand rising is the main driving force

The global high-performance coatings market has become a key part of the global manufacturing growth.The steady growth of materials science is important for the global high-performance coatings market because it provides an easy innovation channel for the market. Stable support and private sector investment from the government are likely to ensure the steady growth of the coatings market.

The main driving force of the global high-performance coatings market is the wide use in different industries, such as consumer goods, automotive and aerospace, which are the main contributors of market. The enhanced functionality provided by high performance coatings is critical in the manufacturing industry and may remain a key driver of the global performance coatings market.

The marine and power industries are likely to be critical to the coatings market in the coming years. The power sector is becoming more secure in the global economy, and it has been one of the preferred users of performance coatings to better protect wires and other electrical instruments. At the same time,the development of the power sector provide customers more stable service,which contribute to a rise in demand for global performance coatings market.

Advances in power infrastructure, rising demand for alternative energy sources such as solar energy will also drive demand for high performance coatings.According to BNEF calculations, in 2016 the global solar demand is about 70,000 MW , the nominal capacity will be 160,000 MW by the end of 2016.The demand developed countries want to replace the general needs of other high-cost of solar energy is growing, which became a key contributing factor to the development of the coatings industry.

Various types of resins for the preparation of high performance coatings include epoxy resins, polyurethanes, polyesters and acrylic resins. Epoxy resin is the leading resin in the global performance coatings market. The business reached $ 2.92 billion in 2017, accounting for 37% of the global performance coatings market.

Europe will become another strong contender of the global market

Geographically, the global high-performance coatings market is divided into the Asia-Pacific region excluding Japan, Europe, North America and the Middle East. Among them, the Asia-Pacific region other than Japan may still be a major regional contributor to the global high-performance coatings market, accounting for more than 30% of the global market during the 2017-2022 forecast period. By 2022, APEJ showed that the paint market would reach a valuation of $ 3.48 billion, with a compound growth rate of 6.2%.

Japan may also maintain strong competitiveness in the global high-performance coatings market .By 2022, the region’s valuation will reach $ 1.12 billion, and the compound annual growth rate  will be 5.6% during 2017-2022 forecast period.

As a result of the resumption of manufacturing in Europe, the region has become another leading competitor of the global high performance coatings market. Europe’s high-performance coatings market is expected to reach $ 2.21 billion by 2022 and a compound annual growth rate of 4.5% during the 2017-2022 forecast period.The growth of local manufacturing centers in the United States has also driven the huge demand for high-performance coatings in North America – possibly rising from $ 1.58 billion to $ 1.98 billion during the 2017-2022 forecast period.

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