Japan Protective Coatings Market Insights Forecasts to 2030

• The Japan Protective Coatings Market Size was valued at USD 548.4 Million in 2022.
• The Market Size is growing at a CAGR of 4.04% from 2022 to 2032
• The size is expected to reach USD 815.2 Million by 2032.
• The Japan Protective Coatings Market key players are actively advertising their products to stay in the competition and capture the attention of consumers all over the world.

The Japan Protective Coatings Market Size was valued at USD 548.4 Million in 2022 and is expected to grow USD 815.2  Million by 2032, at a CAGR OF 4.04% from during the forecast period (2022-2032).

Market Overview

Protective coatings are compounds that are applied to the substrate surfaces of steel and concrete structures to protect them from corrosion and environmental damage. The market includes the use of coatings on new designs as well as the maintenance of existing systems. The rising demand for powder coatings is likely to provide numerous chances for market expansion throughout the forecast period. The infrastructure coatings category is predicted to lead the country's protective coatings industry.

Report Coverage

This research report categorizes the market of Japan protective coatings market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan protective coatings market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Japan protective coatings market.

Driving Factors

Growing infrastructure and industrialization are likely to propel the country's protective coatings market. The Japan Protective Coatings Market is expected to benefit from advancements in coating technology, including the development of high-performance coatings that offer improved protection and durability. Additionally, new coating materials and formulations that are more resistant to chemicals, abrasion, and weathering are expected to further drive the growth of the market. Moreover, Demand from various end-use sectors such as automotive, construction, and industrial production drives the Japan Protective Coatings Market. These industries will drive the market demand for protective coatings because they need to preserve their products and infrastructure from damage caused by severe environments.

Restraining Factors

The prices of raw materials used in the manufacture of protective coatings can be volatile, impacting the pricing and availability of the coatings on the market. Also, while developments in coating technology are likely to boost the growth of the Japan Protective Coatings Market, end-users delayed adoption of new technologies could hinder the market growth. This could be due to cost, a lack of awareness, or resistance to change. Furthermore, The Japanese protective coatings market is very competitive, with numerous local and foreign competitors present. This could result in price wars and decreased profit margins, thus limiting market expansion.

COVID 19 Impacts 

The COVID-19 pandemic has hurt the present study market. However, following the COVID-19 epidemic, market expansion, the need for protective coatings, and the increased execution of infrastructure projects have restored Japan's demand for protective coatings.

Market Segment

• In 2022, waterborne is dominating the largest market share over the forecast period.

On the basis of technology, the Japan protective coatings market is bifurcated into solvent-borne, waterborne, powder, and UV-cured. Among these waterborne dominate the largest market share during the forecast period owing to the country's rigorous environmental restrictions and the increasing need for eco-friendly and sustainable coating solutions. Additionally, the powder coatings industry is predicted to expand due to rising demand for high-performance coatings that can survive severe environments. However, the solvent-borne coatings industry may encounter hurdles due to regulatory constraints on VOC emissions.

• In 2022, infrastructure is influencing the largest market growth during the forecast period.

On the basis of end-user industry, the Japan protective coatings market is classified into several factors such as, oil and gas, mining, power, infrastructure, and other end-user industries. Among these, the infrastructure held the largest market share during the forecast period owing to Japan having a large number of skyscrapers and high-rise structures, making it a substantial consumer market. The country is home to about 290 high-rise structures, with Tokyo serving as a significant hub for such skyscrapers. There is some expansion in the planning and construction of these types of facilities in Japan over the forecast period. The protective coatings applied to steel, which is frequently used for public buildings, stadiums, and transit hubs, are the backbone of modern cities. Steel bridges must be protected from corrosion to maintain structural strength and attractiveness over a while. The most popular method is to apply protective coatings. Moreover, Japan has announced the USD 463 million Minami Koiwa 6-Chome District Type One Urban Redevelopment Project, which comprises the construction of three blocks on 0.9 acres of land in Edogawa-ku, Tokyo, Japan.

• In 2022, the acrylic resins segment is witnessing a higher growth rate during the forecast period

Based on the resin type, the Japan protective coatings market is segmented into acrylic, Epoxy, Alkyd, Polyurethane, Polyester, and Others. Among these, the acrylic resins segment is expected to have a higher market share value over the forecast period. Acrylic resins are used as protective coatings because they are bright, endure a long time outside, don't rust, don't react with chemicals, don't dissolve in solvents, and are robust. Moreover, price rises in the epoxy and polyurethane markets over the country have pushed acrylic coatings in the coming years, whenever an alternative is available. furthermore, acrylic resin is widely utilized in the construction industry for high-end finishing on roofs, decks, bridges, floors, and other surfaces. Water-based acrylic paints are in high demand due to environmental concerns such as VOCs' harmful effects on air quality.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan protective coatings market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Akzo Nobel N.V.
• PPG Industries, Inc
• Sherwin-Williams Company
• Kansai Paint Co. Ltd.
• Nippon Paint Holdings Co., Ltd.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• The Japanese government recently started construction of the Hokkaido Shinkansen (Shinkansen in the Hokkaido Area), which will run 361 kilometers between Shin-Aomori Station in Aomori Prefecture on the island of Honshu and Sapporo Station on the island of Hokkaido. The project is projected to be completed in 2031.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Japan Protective Coatings Market based on the below-mentioned segments:

Japan Protective Coatings Market, By Technology

• Solvent-borne
•  Waterborne
• Powder
• UV-Cured

Japan Protective Coatings Market, By End Industry

• Oil and Gas
• Mining, Power
• Infrastructure
• Other End-user Industries

Japan Protective Coatings Market, By Resins Type

• Acrylic
• Epoxy
• Alkyd
• Polyurethane
• Polyester
• Others