Vendors to engage in mergers and acquisitions to gain market shares
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global protective coatings market in their latest research report. This report also lists eight other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated by the sales of the following devices through the sales of protective coatings in oil and gas, infrastructure, automotive, aerospace, and other end-user applications in key regions by considering 2015 as the base year.
This Technavio report, under the paints, coatings, and pigments vertical, is based on the synthesis, analysis, and interpretation of information about the global protective coatings collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global market for protective coatings is highly fragmented and competitive in nature due to the several vendors in the market space. The market comprises of both international and regional players who compete with each other for market shares. Lack of product differentiation further intensifies the competition among the vendors as local vendors offer cheaper products that attract end users while international players lose out in the price war. During the forecast period, vendors are expected to engage in mergers and acquisition to gain market shares and strengthen their foothold in the market.
“Durability of commercial coatings is a challenge that most vendors in the global protective coatings market face. Many vendors such as A&I Coatings are focusing on the introduction of products for commercial applications such as facades. Facade coatings feature superior mechanical properties and weather resistance. This technology is going continuous innovation as vendors are investing increasingly on the R&D for the development of high-performance coatings,” says Ajay Adikhari, a lead analyst at Technavio for paints, coatings, and pigments.
Top five vendors in the protective coatings market space
AkzoNobel
Formed through the merger of Akzo and Nobel Industries, Akzo Nobel is a prominent manufacturer and supplier of specialty chemicals, paints, and performance coatings. The company caters to end-users from the consumer goods, transportation, building and infrastructure, and industrial sectors. BASF, Bayer, Dow, P&G, BP, Huntsman, Monsanto, Shell, Shin-Etsu, GE, Stora Enso, Unilever, Merlin, OB, B&Q, Bosch, Leroy, Boeing, Airbus, IKEA, Philips, Toyota, Whirlpool, Samsung, Dell, and Ford are some of its noteworthy customers. As of December 31, 2015, the company has a reported revenue of more than $16 billion.
Axalta Coating Systems
Formerly known as Axalta Coating Systems Bermuda, Axalta Coating Systems offers high-performance coatings for the transportation industry. The company has 36 manufacturing facilities and 46 customer training centers globally. The company has operations in various countries, including the US, Canada, Brazil, Mexico, Austria, Germany, Belgium, France, the UK, and China. The company generates revenue through two key business segments which include performance coatings and transformation coatings.
PPG Industries
PPG Industries is a provider of specialty materials, coatings, and glass products in the global market. The company provides paints, protective and decorative coatings, and glass related solutions for industrial, construction, consumer products, and transportation customers and aftermarkets. It also offers chloralkali and derivatives, optical products, fiberglass, and precipitated silica. The company markets product through a network of the distribution centers, home centers, and independent dealers.
RPM International
RPM International engages in the manufacture and marketing of sealants, high-performance coatings, and specialty chemicals, for improving and maintaining applications. The company has operational presence in 26 countries and has around 116 manufacturing facilities across the globe. In 2015, the company generated sales of almost $45 billion with 65% share being generated from global sales and the remaining from North America.
Sherwin-Williams
Sherwin-Williams provides advanced paint and coating solutions. It specializes in the development, manufacture, distribution, and sale of paints, coatings, and related products to industrial, professional, commercial, and retail customers. As of December 31, 2015, the company has a recorded revenue of more than $11 billion.
Other prominent vendors in this market include Bremed, EmsiG, iHealth, Jawon, KERN, Marsden, Mediagate, Medisana, Microlife, Qardio, and Withings.
A more detailed analysis is available in the Technavio report, Global Protective Coatings Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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