Market Insights
What is MRO Protective Coating?
MRO protective coating is basically a thin film that is applied to steel, concrete, and other materials. This coating enhances several features of the material, such as corrosion resistance, wear resistance, and conductivity. It is manufactured with common polymers, such as epoxy, polyester, polyurethane, acrylic, and alkyd.
Market Dynamics
Rising demand from the infrastructure industry and increasing requirements for longer shelf-life equipment and devices are likely to drive the growth of the market during the forecast period. Overall, the MRO protective coatings market is likely to rebound at a promising CAGR of 5.6% in the long run.
Segments' Analysis
Product Type
The market is segmented into MRO abrasion resistant coatings, MRO low friction coatings, MRO corrosion resistant coatings, and MRO intumescent coatings. Corrosion resistant coatings are expected to account for the major share of the market during the forecast period. These coatings enhance the maximum possible performance of those coatings in terms of anti-corrosion protection, low maintenance, and long life, fueling the overall industry growth in the market.
Application Type
The market is segmented into marine, oil & gas, petrochemicals, infrastructure, power generation, water treatment, and others. Marine is expected to be the dominant application type in the market during the forecast period. The marine industry has a huge demand for MRO protective coatings owing to their association with operations in corrosive environments, which is likely to drive segment growth in the coming years.
Regional Analysis
Asia-Pacific is estimated to be the dominant region in the market during the forecast period with China being the major growth engine of the region. Factors, such as growing investments in different end-use industries, such as petrochemical, oil & gas, and infrastructure, as well as economic growth, are expected to drive regional market growth.
On the other hand, North America is estimated to account for a significant share of the market during the forecast period. Technological advancements and the presence of some of the key players in the region are expected to fuel the growth of the regional market over the forecast period.
The MRO protective coatings market is segmented into the following categories:
By Product Type
- MRO Abrasion Resistant Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- MRO Low Friction Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- MRO Corrosion Resistance Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- MRO Intumescent Coatings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Application Type
- Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Petrochemicals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Infrastructure (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Power Generation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Water Treatment (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Italy, Russia, Turkey, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, South Korea, and the Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, South Africa, Saudi Arabia, and Others)
Key Players
The market is highly populated, with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors, including price, product offerings, regional presence, etc. The following are the key players in the MRO protective coatings market. Most of the major players are providing complete profile systems including profile seals.
- BASF SE
- Sherwin-Williams Company
- Akzo Nobel N.V.
- Henkel AG & Co. KGaA
- H.B.Fuller
- PPG Industries, Inc.
- Jotun
- Nippon Paint Holdings Co., Ltd.
- Axalta Coating Systems
- Hempel A/S
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s MRO protective coatings market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for existing and new players.
- Key success factors.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
