Epoxy Primer Market - Forecast(2023 - 2028)

Report Code: CMR 55259 Report Format: PDF + Excel

Overview

Epoxy Primer Market size is forecast to reach $12.14 billion by 2025, after growing at a CAGR of 5.2% during 2020-2025. Epoxy primer is also referred to as structural steel primer, because its two parts are chemically cured by cross-linking. Epoxy primer coatings help to keep the material waterproof while preventing it from being rusted. It usually consists of zinc phosphate that generally acts as a corrosion inhibiting pigment. The growing demand for epoxy primer in different applications and the growing awareness to reduce the loss caused by corrosion are expected to drive the epoxy market growth. The booming automotive sector has resulted in an enriched & cumulative paint & coatings need, thus further increasing the market size of the epoxy primer. epoxy primer that also can be applied directly to rusted steel as corrosion inhibitor.

Report Coverage

The report: “Epoxy Primer Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Epoxy Primer Industry.


Key Takeaways

  • The market is driven primarily by increased demand for epoxy primers in several applications and increased awareness of corrosion-related loss.
  • Various players are developing strategies to mark the industry's presence. For instance, a coating application company, Crown Group, was purchased by PPG Industries. The investment seeks to better serve North America's customers.
  • PPG Industries has spent approximately USD 49 million on launching a brand new commercial operation and manufacturing facilities for paints & coatings in Russia's Lipetsk region. Growth lets it better serve existing customers in Russia and Eastern Europe and enhances its European and Middle East & Africa (EMEA) presence.

Substrate - Segment Analysis

During the forecast period, the metal segment is expected to lead the global epoxy primer market. In various applications such as automotive, marine, aviation, energy infrastructural structures, and oil & gas, epoxy primers are commonly used on metal substrates. Throughout automotive and marine applications, these primers form a significant base, providing excellent adhesion and resistance to corrosion and chemicals. Their application also helps to reduce long-term maintenance costs.

Technology - Segment Analysis

During the forecast period, solvent-borne technology is expected to lead the market for epoxy primers. For a wide variety of substrates, epoxy primers developed using solvent-borne technology provide superior features such as less curing time, excellent adhesion, and corrosion, abrasion, and chemical resistance.

Application - Segment Analysis

The building & construction segment holds the largest share in the epoxy primers market in 2018 and is growing at a CAGR of 6.8%. Epoxy primers are commonly used for flooring applications on concrete and masonry surfaces. In this process, metal substrates used for priming structures are also preferred. APAC is the largest market in building & construction applications for epoxy primers. Growth can be due to increased government investment in infrastructure growth in developing countries such as China, India, Malaysia, and others. In this region's infrastructural developments result in a tremendous demand for coatings, boosting the epoxy primary market.

Geography - Segment Analysis

The APAC region represents the largest market share in 2018 up to 30%. This largest share is due to the massive demand for coatings from countries such as India, China, and other countries in Southeast Asia. An important factor expected to drive the region's demand is also the growth of the automotive, manufacturing, marine, and industrial sectors.

Drivers – Epoxy Primer Market

  • Growing demand for paints and coatings.

New infrastructure projects, such as bridges and water treatment facilities along with the growth of commercial and industrial businesses are driving the demand for paints and coatings. The factor driving the demand for coatings is the growth in wind plants. Countries such as China, U.S, Germany, India and others are investing to increase the installed wind capacity. In 2016-2020, China invested more than $100 billion in wind power plants. Additionally, in 2018, China invested $12 billion in renewable energy generation (wind power electricity) in Europe and Australia. In the paints & coatings industry, epoxy primers are used in large quantities. Increasing demand for applications for paints and coatings also increases demand for epoxy primers.

Challenges – Epoxy Primer Market

  • Government regulations on using solvent-borne technology.

Solvent-borne technology produces pollution known to be harmful to the environment and poses a threat to human health. As a result, the government is introducing programs and regulations aimed at reducing the use of epoxy primers developed using solvent-borne technology which restricts market growth.

  • Fluctuating raw materials prices.

Increasing oil prices projected for coming years will lead to increased feedstock prices that will directly impact prices of all synthetic resins used in coating applications. The annual average oil price rose to $71.31 per barrel, from $54.19 per barrel in 2017.Resins, pigments, fillers, additives and solvents are the raw materials used to make coatings and paints. Resins are a major element for the production of paints and coatings. In the manufacture of epoxy primers, epoxy resins are used. High epoxy prices and other resins such as acrylic, alkyd and urethane will negatively affect the epoxy primer market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Epoxy Primer market. In 2019, the market of Epoxy Primer has been consolidated by the top five players accounting for xx% of the share. Major players in the Epoxy Primer Market are Axalta Coating Systems, Nippon Paint Holdings Company Limited, Jotun Group, Asian Paints Ltd, BASF SE, PPG Industries, Inc., Akzo Nobel N.V., Sherwin-Williams, Kansai Paints Company Limited, and 3M Company, among others.

Acquisitions/Technology Launches

  • In February 2019, PPG Industries introduced PPG SIGMAFAST 278 epoxy primer to the U.S. market.
  • In May 2019, Hempel launched a new epoxy primer for heavy duty equipment and trucks - Hempaprime Shield 700 HS.
  • In June 2017, Axalta Coatings Systems announced the expansion to its Corlar 2.1 PR-P Epoxy Primer line with the introduction of FG-042 High Build Activator.

1. Epoxy Primer Market - Overview
        1.1 Definitions and Scope
2. Epoxy Primer Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Epoxy Primer Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Epoxy Primer Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Epoxy Primer Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Epoxy Primer Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Epoxy Primer Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Epoxy Primer Market - By Substrate (Market Size -$Million / $Billion)
        8.1 Introduction
        8.2 Metal
        8.3 Concrete & Masonry
        8.4 Fiberglass
        8.5 Others
9. Epoxy Primer Market - By Technology (Market Size -$Million / $Billion)
        9.1 Introduction
        9.2 Solvent-Borne Technology
        9.3 Waterborne Technology
10. Epoxy Primer - By Application (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
            10.3.1 Building & Construction
            10.3.2 Automotive
            10.3.3 Marine
            10.3.4 Machinery & Equipment
11. Epoxy Primer- By Geography (Market Size -$Million / $Billion)
        11.1 Epoxy Primer Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                 11.2.5.1 U.S
                 11.2.5.2 Canada
                 11.2.5.3 Mexico
                 11.2.5.4 Rest of North America
        11.3 Epoxy Primer- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                 11.4.5.1 Brazil
                 11.4.5.2 Venezuela
                 11.4.5.3 Argentina
                 11.4.5.4 Ecuador
                 11.4.5.5 Peru
                 11.4.5.6 Colombia
                 11.4.5.7 Costa Rica
                 11.4.5.8 Rest of South America
        11.5 Epoxy Primer- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                 11.6.5.1 U.K
                 11.6.5.2 Germany
                 11.6.5.3 Italy
                 11.6.5.4 France
                 11.6.5.5 Netherlands
                 11.6.5.6 Belgium
                 11.6.5.7 Denmark
                 11.6.5.8 Spain
                 11.6.5.9 Rest of Europe
        11.7 Epoxy Primer - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                 11.8.5.1 China
                 11.8.5.2 Australia
                 11.8.5.3 Japan
                 11.8.5.4 South Korea
                 11.8.5.5 India
                 11.8.5.6 Taiwan
                 11.8.5.7 Malaysia
                 11.8.5.8 Hong kong
                 11.8.5.9 Rest of APAC
        11.9 Epoxy Primer - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                 11.10.5.1 Israel
                 11.10.5.2 Saudi Arabia
                 11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                 11.10.6.1 South Africa
                 11.10.6.2 Rest of Middle East & Africa
12. Epoxy Primer Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Epoxy Primer Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Epoxy Primer Market - Key Company List by Country Premium
15. Epoxy Primer Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 3M
        15.3 Akzonobel
        15.4 Asian Paints
        15.5 Axalta Coating Systems
        15.6 BASF SE
        15.7 Berger Paints
        15.8 BESA
        15.9 Carpoly
        15.10 Chugoku Marine Paints
        15.11 DAW
        15.12 Diamond Vogel Paints
        15.13 Hempel
        15.14 HMG Paints
        15.15 Hunan Xiangjiang Paint
        15.16 Jotun
        15.17 Kansai Paint
        15.18 KCC
        15.19 Nippon Paint
        15.20 Noroo Paint & Coatings
        15.21 PPG Industries
        15.22 RPM International
        15.23 Sherwin-Williams
        15.24 Sika
        15.25 Tikkurila Oyj
        15.26 Toa Performance Coating (Toapc) Corporation
        15.27 Company 26
        15.28 Company 27 & More
*Financials would be provided on a best efforts basis for private companies
16. Epoxy Primer Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Epoxy Primer Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Epoxy Primer Market, By Substrate Market 2019-2024 ($M)
1.1 Metal Market 2019-2024 ($M) - Global Industry Research
1.2 Concrete & Masonry Market 2019-2024 ($M) - Global Industry Research
1.3 Fiberglass Market 2019-2024 ($M) - Global Industry Research
2.Global Epoxy Primer Market, By Technology Market 2019-2024 ($M)
2.1 Solvent-Borne Technology Market 2019-2024 ($M) - Global Industry Research
2.2 Waterborne Technology Market 2019-2024 ($M) - Global Industry Research
3.Global Epoxy Primer Market, By Substrate Market 2019-2024 (Volume/Units)
3.1 Metal Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Concrete & Masonry Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Fiberglass Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Epoxy Primer Market, By Technology Market 2019-2024 (Volume/Units)
4.1 Solvent-Borne Technology Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Waterborne Technology Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Epoxy Primer Market, By Substrate Market 2019-2024 ($M)
5.1 Metal Market 2019-2024 ($M) - Regional Industry Research
5.2 Concrete & Masonry Market 2019-2024 ($M) - Regional Industry Research
5.3 Fiberglass Market 2019-2024 ($M) - Regional Industry Research
6.North America Epoxy Primer Market, By Technology Market 2019-2024 ($M)
6.1 Solvent-Borne Technology Market 2019-2024 ($M) - Regional Industry Research
6.2 Waterborne Technology Market 2019-2024 ($M) - Regional Industry Research
7.South America Epoxy Primer Market, By Substrate Market 2019-2024 ($M)
7.1 Metal Market 2019-2024 ($M) - Regional Industry Research
7.2 Concrete & Masonry Market 2019-2024 ($M) - Regional Industry Research
7.3 Fiberglass Market 2019-2024 ($M) - Regional Industry Research
8.South America Epoxy Primer Market, By Technology Market 2019-2024 ($M)
8.1 Solvent-Borne Technology Market 2019-2024 ($M) - Regional Industry Research
8.2 Waterborne Technology Market 2019-2024 ($M) - Regional Industry Research
9.Europe Epoxy Primer Market, By Substrate Market 2019-2024 ($M)
9.1 Metal Market 2019-2024 ($M) - Regional Industry Research
9.2 Concrete & Masonry Market 2019-2024 ($M) - Regional Industry Research
9.3 Fiberglass Market 2019-2024 ($M) - Regional Industry Research
10.Europe Epoxy Primer Market, By Technology Market 2019-2024 ($M)
10.1 Solvent-Borne Technology Market 2019-2024 ($M) - Regional Industry Research
10.2 Waterborne Technology Market 2019-2024 ($M) - Regional Industry Research
11.APAC Epoxy Primer Market, By Substrate Market 2019-2024 ($M)
11.1 Metal Market 2019-2024 ($M) - Regional Industry Research
11.2 Concrete & Masonry Market 2019-2024 ($M) - Regional Industry Research
11.3 Fiberglass Market 2019-2024 ($M) - Regional Industry Research
12.APAC Epoxy Primer Market, By Technology Market 2019-2024 ($M)
12.1 Solvent-Borne Technology Market 2019-2024 ($M) - Regional Industry Research
12.2 Waterborne Technology Market 2019-2024 ($M) - Regional Industry Research
13.MENA Epoxy Primer Market, By Substrate Market 2019-2024 ($M)
13.1 Metal Market 2019-2024 ($M) - Regional Industry Research
13.2 Concrete & Masonry Market 2019-2024 ($M) - Regional Industry Research
13.3 Fiberglass Market 2019-2024 ($M) - Regional Industry Research
14.MENA Epoxy Primer Market, By Technology Market 2019-2024 ($M)
14.1 Solvent-Borne Technology Market 2019-2024 ($M) - Regional Industry Research
14.2 Waterborne Technology Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Epoxy Primer Market Revenue, 2019-2024 ($M)
2.Canada Epoxy Primer Market Revenue, 2019-2024 ($M)
3.Mexico Epoxy Primer Market Revenue, 2019-2024 ($M)
4.Brazil Epoxy Primer Market Revenue, 2019-2024 ($M)
5.Argentina Epoxy Primer Market Revenue, 2019-2024 ($M)
6.Peru Epoxy Primer Market Revenue, 2019-2024 ($M)
7.Colombia Epoxy Primer Market Revenue, 2019-2024 ($M)
8.Chile Epoxy Primer Market Revenue, 2019-2024 ($M)
9.Rest of South America Epoxy Primer Market Revenue, 2019-2024 ($M)
10.UK Epoxy Primer Market Revenue, 2019-2024 ($M)
11.Germany Epoxy Primer Market Revenue, 2019-2024 ($M)
12.France Epoxy Primer Market Revenue, 2019-2024 ($M)
13.Italy Epoxy Primer Market Revenue, 2019-2024 ($M)
14.Spain Epoxy Primer Market Revenue, 2019-2024 ($M)
15.Rest of Europe Epoxy Primer Market Revenue, 2019-2024 ($M)
16.China Epoxy Primer Market Revenue, 2019-2024 ($M)
17.India Epoxy Primer Market Revenue, 2019-2024 ($M)
18.Japan Epoxy Primer Market Revenue, 2019-2024 ($M)
19.South Korea Epoxy Primer Market Revenue, 2019-2024 ($M)
20.South Africa Epoxy Primer Market Revenue, 2019-2024 ($M)
21.North America Epoxy Primer By Application
22.South America Epoxy Primer By Application
23.Europe Epoxy Primer By Application
24.APAC Epoxy Primer By Application
25.MENA Epoxy Primer By Application
26.Ppg Industry, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Akzonobel, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Competitive Situation & Trend, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Sherwin-Williams, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Axalta Coating System, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Basf Se, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Nippon Paint, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Jotun, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Paint, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Kansai Paint, Sales /Revenue, 2015-2018 ($Mn/$Bn)
36.3M, Sales /Revenue, 2015-2018 ($Mn/$Bn)
37.Hempel, Sales /Revenue, 2015-2018 ($Mn/$Bn)
38.Rpm International, Sales /Revenue, 2015-2018 ($Mn/$Bn)
39.Tikkurila Oyj, Sales /Revenue, 2015-2018 ($Mn/$Bn)
40.Berger Paint, Sales /Revenue, 2015-2018 ($Mn/$Bn)