Fusion Bonded Epoxy Coatings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Fusion Bonded Epoxy Coatings Market Analysis
The market for fusion bonded epoxy coatings is expected to grow at a CAGR of less than 7% during the forecast period. Major factors driving the market studied is increasing demand from the oil and gas industry, growing infrastructure and industrialization in the Asia-Pacific region.
- On the flip side, the presence of alternative coating types is likely to hinder the market.
- Asia-Pacific dominated the market across the globe with the largest consumption in a country such as India, China, etc.
Fusion Bonded Epoxy Coatings Market Trends
This section covers the major market trends shaping the Fusion Bonded Epoxy Coatings Market according to our research experts:
Oil and Gas Segment to Dominate the Market
- In the oil and gas industry, pipes with fusion-bonded epoxy (FBE) coatings exhibit excellent chemical resistance in harsh environments, including petrochemicals, solvents, and corrosive gases. Apart from that, these coatings also provide better dimensional stability (i.e. minimal hysteresis).
- The demand for the oil and gas industry is expected to increase at most 1.4 Mb/d, by 2020. According to OPEC, the world primary demand for fuels, such as oil, gas, coal nuclear, biomass, etc., is likely to grow by 2020.
- Globally, the demand for oil, in 2018, rose about 1.3%, led by robust growth in the United States. In 2020, the demand for oil is likely to rise up to 92.3 mboe/d, and the demand for gas in 2020, the demand is likely to rise up to 65.2 mboe/d, in 2020.
- According to the British Petroleum, the share of crude oil production of the major producing countries include the United States with 16. 2% share, Saudi Arabia with 13%, Russia with 12.1%, Canada with 5.5%, Iran with 5%, etc.
- The demand for oil and gas is increasing in sectors, such as power generation, industry, transportation, residential, commercial sector, etc. due to the growing population in developing countries and robust economic development,
- According to OPEC, the energy demand in developing countries is expected to increase by 88 mnoe/d, by 2040. Developing countries, such as India and China, is likely to be the largest energy demand addition by 2040, both in the range of 22–23 mboe/d.
- The largest involvement in future energy demand is expected to come from natural gas. The demand for gas is likely to rise by about 93 mboe/d, by 2040.
- The growing petrochemical sector demand is driving the oil and gas industry, while oil demand in other industry sectors is likely to face strong competition from alternative fuels.
- Growing oil and petrochemical refineries would increase the demand for FBE coatings, hence, driving the market. Growing refineries in Asia-Pacific economies, like India and China, is also expected to increase the demand for themarket.
- All the above factors are likely to increase the demand for fusion bonded epoxy coatings over the forcast period.
China to Dominate the Asia-Pacific Region
- In Asia-Pacific, China is the largest economy, in terms of GDP. The growth in the country remains high.
- The Infrastructure segment in China is rapidly increasing. In 2018, the National Development and Reform Commission (NDRC) has approved 27 infrastructure projects, totaling USD 219.43 billion.
- The major infrastructure projects in the country include Shanghai Urban Rail Transit Expansion, Intercity Railway along the Yangtze River in Jiangsu province, etc.
- Moreover, according to OPEC, the growth in gas consumption is mainly driven by countries, such as the United States, China, Russia, Iran, etc. The gas consumption of China is around 43 bcm.
- The Government of China plans to increase natural gas consumption to around 10% of its total energy mix by 2020. Currently, natural gas consumption is around 6%.
- By 2023, oil demand will reach around 104.7 mb/d, from 6.9 mb/d in 2018. Countries, like China and India, together, are expected to contribute around 50% of the global oil demand.
- The aforementioned factors are expected to increase the demand for fusion bonded epoxy coatings in the forecast period.
Fusion Bonded Epoxy Coatings Industry Overview
The fusion-bonded epoxy coatings market is consolidated. Some of the major players include 3M, Axalta Coating Systems, LLC, Arkema Group, Jotun., and The Sherwin-Williams Company, among others.
Fusion Bonded Epoxy Coatings Market Leaders
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3M
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Axalta Coating Systems, LLC
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Arkema Group
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Jotun
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The Sherwin-Williams Company,
*Disclaimer: Major Players sorted in no particular order
Fusion Bonded Epoxy Coatings Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Demand from the Oil and Gas Industry
- 4.1.2 Growing Infrastructure and Industrialization in the Asia-Pacific Region
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Presence of Alternative Coating Types
- 4.2.2 Other Restraints
- 4.3 Industry Value-Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Surface
- 5.1.1 Internal Surface Coatings
- 5.1.2 External Surface Coatings
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5.2 End-user Industry
- 5.2.1 Oil and Gas
- 5.2.2 Marine
- 5.2.3 Water and Wastewater Treatment
- 5.2.4 Chemical Processing
- 5.2.5 Infrastructure
- 5.2.6 Other End-user Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 Italy
- 5.3.3.4 France
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East & Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Akzonobel NV
- 6.4.3 Arkema Group
- 6.4.4 Axalta Coating Systems, LLC
- 6.4.5 BASF SE
- 6.4.6 Jindal Group
- 6.4.7 Jotun
- 6.4.8 Maharashtra Seamless Limited
- 6.4.9 PPG Industries
- 6.4.10 PSL Limited
- 6.4.11 Shawcor (Bredero Shaw)
- 6.4.12 SIGMA Corporation
- 6.4.13 SolEpoxy Inc.
- 6.4.14 Specialty Polymer Coatings Inc.
- 6.4.15 Tecosy
- 6.4.16 Teknos Group
- 6.4.17 The Sherwin-Williams Company
- 6.4.18 Wasco Energy Group of Companies
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Fusion Bonded Epoxy Coatings Industry Segmentation
The fusion-bonded epoxy coatings market report includes:
| Surface | Internal Surface Coatings | |
| External Surface Coatings | ||
| End-user Industry | Oil and Gas | |
| Marine | ||
| Water and Wastewater Treatment | ||
| Chemical Processing | ||
| Infrastructure | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East & Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East & Africa |
Fusion Bonded Epoxy Coatings Market Research FAQs
What is the current Fusion Bonded Epoxy Coatings Market size?
The Fusion Bonded Epoxy Coatings Market is projected to register a CAGR of less than 7% during the forecast period (2024-2029)
Who are the key players in Fusion Bonded Epoxy Coatings Market?
3M, Axalta Coating Systems, LLC, Arkema Group, Jotun and The Sherwin-Williams Company, are the major companies operating in the Fusion Bonded Epoxy Coatings Market.
Which is the fastest growing region in Fusion Bonded Epoxy Coatings Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Fusion Bonded Epoxy Coatings Market?
In 2024, the Asia Pacific accounts for the largest market share in Fusion Bonded Epoxy Coatings Market.
What years does this Fusion Bonded Epoxy Coatings Market cover?
The report covers the Fusion Bonded Epoxy Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fusion Bonded Epoxy Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Fusion Bonded Epoxy Industry Report
Statistics for the 2024 Fusion Bonded Epoxy market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Fusion Bonded Epoxy analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
