Abrasion Resistant Coatings Market is Projected to Reach $11.1 Billion, at a CAGR of 6.5% - Global Forecast to 2024
The global Abrasion Resistant Coatings Market size of abrasion resistant coatings is projected to grow from $8.0 Billion in 2019 to $11.1 Billion by 2024, at a CAGR of 6.5% during the forecast period. The major driving factors for the market are stringent EU and US regulations regarding VOC emissions. The other significant drivers include the enhanced properties of abrasion resistant coatings such as fast curing time and high temperature resistance. The demand for abrasion resistant coatings is increasing from developing economies such as China, India, and Indonesia.
Increasing Residential Construction and Improved Home Remodeling Practices are Expected to Drive The Coating Resins Market
Coating resins bind the coating ingredients together and enable them stick to the surface to which they have been applied. They determine the coating’s performance and appearance characteristics, such as their water or scratch resistance, ability to protect against corrosion, and gloss or matt finish.