Global Coal Tar Epoxy Coating Market Size To Exceed USD 2.98 Billion By 2033 | CAGR Of 6.35%
Category: Chemicals & MaterialsGlobal Coal Tar Epoxy Coating Market Size To Exceed USD 2.98 Billion By 2033 | CAGR Of 6.35%
According to a research report published by Spherical Insights & Consulting, the Global Coal Tar Epoxy Coating Market Size Expected to Grow from USD 1.61 Billion in 2023 to USD 2.98 Billion by 2033, at a CAGR of 6.35% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 114 Market data tables and figures & charts from the report on the "Global Coal Tar Epoxy Coating Market Size, Share, and COVID-19 Impact Analysis, By Type (Solvent-Based and Water-Based), By Application (Marine, Oil & Gas, Industrial, Infrastructure, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/coal-tar-epoxy-coating-market
The coal tar epoxy coating market is the industry that manufactures and distributes coatings made from a mixture of coal tar and epoxy resins. These coatings' remarkable resistance to moisture, solvents, and high temperatures makes them highly advantageous in a range of industrial applications. The increasing demand for robust and durable coating solutions across a range of industrial applications and the surge in international infrastructure development activities account for this expansion. Another significant aspect driving the market's rise is the expanding infrastructure in various locations. Both public and private entities are investing heavily in the construction and modernization of bridges, highways, tunnels, pipelines, and other infrastructure. One of the main factors propelling the growth of the coal tar epoxy coating market is the rising marine industry. Because they protect ships from harsh weather, salinity, and corrosive substances, durable coatings are crucial to the marine industry. Because of its exceptional properties, such as its high resistance to abrasion, chemicals, and water, coal tar epoxy is advised for use in maritime applications. The growth of global trade and transportation enabled by marine routes also raises the demand for coal tar epoxy coatings. Additionally, the growth of the oil and gas industry is a major factor propelling the market's advancement. Protective coatings are crucial for pipelines, storage tanks, and other equipment since the oil and gas industry is subject to corrosive materials and harsh weather. However, as with the market, there are hazards. One major barrier is the stringent environmental regulations intended to reduce VOC emissions. It is commonly recognized that coal tar epoxy coatings, especially solvent-based types, contain significant levels of volatile organic compounds (VOCs), which can pose health and environmental risks.
The solvent-based segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the type, the global coal tar epoxy coating market is categorized solvent-based and water-based. Among these, the solvent-based segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. Solvent-based coal tar epoxy coatings have long dominated the market due to their outstanding performance characteristics.
The marine segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the global coal tar epoxy coating market is categorized as marine, oil & gas, industrial, infrastructure, and others. Among these, the marine segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The marine application is one of the major factors driving the market because of the coatings' resilience in harsh maritime conditions. By providing essential protection against corrosive elements, coal tar epoxy coatings increase the longevity and reduce maintenance costs of ships, offshore platforms, and other marine structures.
North America is projected to hold the largest share of the global coal tar epoxy coating market over the forecast period.
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North America is projected to hold the largest share of the global coal tar epoxy coating market over the forecast period. North America is another significant market for coal tar epoxy coatings because of the region's well-established industrial sectors and ongoing infrastructure renovation projects. In instance, the United States is spending a lot of money to repair and modernize its crumbling roads, bridges, and pipelines. The growing oil and gas industry and the increase in exploratory activities are further factors driving the need for protective coatings.
Europe is expected to grow at the fastest CAGR growth of the global coal tar epoxy coating market during the forecast period. The European market for coal tar epoxy coating is anticipated to grow considerably as a result of the region's emphasis on building and maintaining infrastructure. The region's stringent environmental regulations are helping to promote the adoption of advanced, low-VOC coating technologies. Because countries like Germany, France, and the UK have invested in upgrading their industrial and transportation infrastructure, there is a greater need for high-performance protective coatings.
Major vendors in the global coal tar epoxy coating market PG Industries, Inc., Sherwin-Williams Company, Akzo Nobel N.V., Jotun A/S, Hempel A/S, Kansai Paint Co., Ltd., RPM International Inc., Nippon Paint Holdings Co., Ltd., Axalta Coating Systems Ltd., Sika AG, BASF SE, and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global coal tar epoxy coating market based on the below-mentioned segments:
Global Coal Tar Epoxy Coating Market, By Type
- Solvent-Based
- Water-Based
Global Coal Tar Epoxy Coating Market, By Application
- Marine
- Oil & Gas
- Industrial
- Infrastructure
- Others
Global Coal Tar Epoxy Coating Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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