Market Size of Canada Protective Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canada Protective Coatings Market Analysis
The Canadian Protective Coatings market is expected to reach USD 500 million by the end of this year and is projected to register a CAGR of over 3.5% during the forecast period. The market was negatively impacted by COVID-19 in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is forecasted to grow steadily in the future.
- Government initiatives and policies for infrastructure development and various industries, such as plastics, pulp, and paper, are expected to fuel market expansion over the projection period.
- The rising trend of a shifting focus toward bio-based coatings is the key market opportunity expected to drive the market in the coming years.
- The infrastructure sector dominated the market and is likely to continue its dominance during the forecast period.
Canada Protective Coatings Industry Segmentation
A protective coating is a layer applied to a material's surface to inhibit or prevent corrosion. The protective coatings market is segmented by Resin Type, Technology, and End-user industry. By resin type, the market is segmented into acrylic, alkyd, polyurethane, epoxy, polyester, and other resin types. By technology, the market is segmented into water-borne, solvent-borne, powder, and other technologies. By end-user industry, the market is segmented into oil and gas, mining, power, infrastructure, and other end-user industries. For each segment, the market sizing and forecasts have been provided on the basis of revenue (in USD million).
| By Resin Type | |
| Epoxy | |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Polyester | |
| Other Resin Types |
| By Technology | |
| Water-borne | |
| Solvent-borne | |
| Powder | |
| Other Technologies |
| By End-user Industry | |
| Oil and gas Industry | |
| Mining Industry | |
| Power Industry | |
| Infrastructure Industry | |
| Other End-user Industries |
Canada Protective Coatings Market Size Summary
The Canadian protective coatings market is poised for steady growth, driven by government initiatives and policies aimed at infrastructure development across various industries such as plastics, pulp, and paper. The market has rebounded to pre-pandemic levels and is expected to continue expanding, with a notable shift towards bio-based coatings presenting significant opportunities. The infrastructure sector remains the dominant force in the market, with protective coatings playing a crucial role in preventing surface deterioration of exposed structures. This sector's growth is further supported by substantial investments in public infrastructure, enhancing the quality and condition of essential assets like bridges, highways, and roads.
In addition to infrastructure, the oil and gas industry is a major end-user of protective coatings, necessitated by the need for heat-resistant and corrosion-protective solutions in high-temperature and moist environments. Canada's position as a leading oil producer, with extensive operations across its provinces and territories, underscores the demand for these coatings in both upstream and downstream segments. The challenging conditions of offshore production further drive the need for robust coating systems. The market is characterized by a partial fragmentation, with key players such as RPM International Inc., AkzoNobel NV, Axalta Coatings Systems, The Sherwin-Williams Company, and PPG Industries Inc. actively contributing to its development. Recent expansions, like PPG Industries' AMERLOCK Series of Epoxy Protective Coatings, highlight ongoing efforts to enhance corrosion protection in demanding environments.
Canada Protective Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Inceasing Oil & Gas activities acroos the country
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1.2.2 Increasing investments in infrastructure sector
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1.3 Market Restraints
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1.3.1 Regulations Related to VOC Emissions
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1.3.2 Other Restraints
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1.4 Industry Value Chain Analysis
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1.5 Porters Five Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 By Resin Type
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2.1.1 Epoxy
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2.1.2 Acrylic
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2.1.3 Alkyd
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2.1.4 Polyurethane
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2.1.5 Polyester
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2.1.6 Other Resin Types
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2.2 By Technology
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2.2.1 Water-borne
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2.2.2 Solvent-borne
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2.2.3 Powder
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2.2.4 Other Technologies
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2.3 By End-user Industry
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2.3.1 Oil and gas Industry
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2.3.2 Mining Industry
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2.3.3 Power Industry
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2.3.4 Infrastructure Industry
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2.3.5 Other End-user Industries
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Canada Protective Coatings Market Size FAQs
What is the current Canada Protective Coatings Market size?
The Canada Protective Coatings Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Canada Protective Coatings Market?
The Sherwin Williams Company, Akzo Nobel N.V., PPG Industries, Axalta Coatings Systems and RPM International Inc are the major companies operating in the Canada Protective Coatings Market.
