Epoxy Sealer Market – Global Drivers, Restraints, Opportunities, Trends & Forecast up to 2023
Epoxy is one of the widely used chemicals across multiple industries. The utilization of epoxy varies from binder, filler, and sealer among others. While epoxy-based products are widely used in generic paints & coatings, the usage with wood is more direct where it enforces the wooden block by filling the pours and provide even surface for coating. In transportation, epoxy is utilized as the base coat to provide even surface for better adhesion and dispersion of coating above it.
Currently, Asia Pacific is the largest market for epoxy sealer with large construction sector and fast-growing transportation industry. The economies such as China and India are fueling the demand via consistently increasing the penetration of epoxy products to replace low-end substitutes. The developed regions of Western Europe and North America are expecting a relatively lower growth due to the existing high penetration and increasing substitute pressure although at a higher cost. The increasing industrialization and growing infrastructure in developing countries along with the maintenance demand from developed regions are expected to drive the consumption for the epoxy sealer market.
The study of the global epoxy sealer market provides the market size information and market trends along with the factors and parameters impacting it in both short- and long-term. The study also covers the competitive scenario of the market, major players with their branding strategies, and differentiating factors among others. The study ensures a 360° view, bringing out the complete key insights of the competitive industry. These insights are intended to help the business decision makers to make better business plans and informed decisions for the future growth. In addition, the study helps venture capitalists in understanding the companies better and take informed decisions.
According to IHR Insights, the global epoxy sealer market is expected to grow at a CAGR of 6.0% during the forecast period 2017–2023 to reach a value of $15.48 billion by 2023. Relying on the consumption of the concrete surface, the construction segment is expected to maintain global dominance while high demand is expected to come from wooden applications. Asia Pacific is expected to increase its share in the global epoxy sealer market with high demand coming from developing countries of China, India, Indonesia, and the Philippines among others.
The supply market for epoxy sealer is expected to remain competitive. The international players are looking for ways to be closer to the developing markets and are investing in the regions or focusing on cementing ties with the regional stakeholders. Few of the prominent players in the global epoxy sealer market are Evonik, Axalta Coating System Inc., Arkema, and Sherwin-Williams.
o Concrete
o Metal
o Wood
o Industrial Construction
o Non-industrial Construction
o Transportation
o Furniture & Sports Equipment
o Others (such as Medical Equipment)
o Asia Pacific
o Europe
o North America
o Rest of the World