According to a new market report published by Credence Research Global Zinc Rich Primer Market - Growth, Future Prospects & Competitive Analysis, 2017 - 2025, the Global Zinc Rich Primer Market is expected to reach US$ 12.21 Bn by 2025, expanding at a CAGR of 5.4% during the forecast period 2017 - 2025.
Market Insights
Zinc rich primer market is projected to gain impulse with growing inclination across various end use industries for zinc rich primers to prevent metal structures and equipment from the impact of corrosion. Zinc rich primer is well suited for industrial, coastal, marine and freshwater environments. It is commonly used for steel tanks, offshore platforms, bridges, refineries, petrochemical and power plants, railcar coating and others (pulp and paper mills, etc.) applications. One of the key factors contributing to this market growth is the expansion of the oil and gas market. Correspondingly, increasing use of zinc rich primers as protective coating is also expected to fuel the demand in the steel tanks industry.
Browse the full Global Zinc Rich Primer Market by Type, Application and Geography - Growth, Future Prospects & Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/zinc-rich-primer-market
Increasing demand for petrochemical products and power from developing economies like India, China and Middle East countries will drive the demand for zinc rich primer in these industries over the forecast period. The rising demand of environmental friendly or volatile organic compounds (VOCs)-free protective coating resins in European countries such as Germany and France is expected to drive this market. There are multiple advantages offered by organic zinc rich primers such as painting over organic zinc rich primers is easier as compared to other primers, it provides faster drying than inorganic zinc silicates and faster recoat time. Furthermore, rapid adoption of environment friendly protective coatings is projected to drive the demand for zinc rich primers due to the restrictions imposed by various countries across the world over emission of volatile organic compounds in the atmosphere. Thus, global zinc rich primer market is expected to witness significant growth with high demand from end use industries coupled with its increasing application in varied industries.
Competitive Insights:
Global zinc rich primer market is segmented on the basis of type, application and geography. By type, epoxy zinc rich coatings segment was the most dominant segment in global zinc rich primer market in 2016 and anticipated to continue its dominance over the forecast period. Epoxy zinc rich primer coating is widely used for coating of tanks, pipelines, offshore platforms, structural steel, bridges, etc. in various industrial facilities. It also complies regulatory requirement especially in the pipelines installed near populated areas. Based on application, steel tanks segment accounted for the largest share in global zinc rich primer market. Increasing use of steel tanks for the storage of various corrosive chemicals, crude oil, refined products and others is projected to spur the growth of the segment. On the basis of geography, Asia Pacific was estimated to be the largest market for zinc rich primer in 2016 and projected to maintain its dominance during the forecast period. Rapid infrastructural development along with growing industrialization in the region is protected to spur the demand for zinc rich primers during the forecast period. Major players in global zinc rich primer market are investing in research and development, merger and acquisition with focus on improve their product portfolio and market penetration.
Overall, global zinc rich primer market is anticipated to register high growth over the forecast period (2017-2025).
Key Trends:
- Merger & Acquisition
- Investment in R&D
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