Market Size of Japan Protective Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Protective Coatings Market Analysis
The Japan protective coatings market is expected to reach $548 million by the end of this year and is projected to register a CAGR of over 4% during the forecast period. The COVID-19 pandemic has negatively affected the current study market. However, post COVID-19 pandemic, the market's growth, the need for protective coatings, and the rising implementation of infrastructural projects have revived the demand for protective coatings in the country.
- Growing infrastructure and industrialization are expected to drive the country's protective coatings market.
- Fluctuations in the prices of raw materials are expected to hamper the market's growth.
- The rising demand for powder coatings is expected to offer various opportunities for market growth during the forecast period.
The market for protective coatings in the country is expected to be led by the infrastructure coatings segment in the end-user segment.
Japan Protective Coatings Industry Segmentation
Protective coatings are materials applied to substrate surfaces of steel and concrete structures to protect them from environmental damage and corrosion. The market involves the usage of coatings on new designs, as well as the maintenance of existing systems. These structures can include industrial, commercial, and public infrastructure but exclude house buildings and private apartments. The protective coatings market is segmented by end-user industry, technology, and resin type. By end-user industry, the market is segmented into oil and gas, mining, power, infrastructure, and other end-user industries. By technology, the market is segmented into solvent-borne, waterborne, powder, and UV-cured. The market is segmented by resin type: acrylic, epoxy, alkyd, polyurethane, polyester, and others. The report offers market size and forecasts. The market is segmented by resin type: for revenue (USD million) for all the above segments.
Japan Protective Coatings Market Size Summary
The Japan protective coatings market is poised for growth, driven by increasing infrastructure and industrialization activities. Despite the challenges posed by the COVID-19 pandemic, the market has shown resilience, with a resurgence in demand attributed to the implementation of infrastructural projects. The infrastructure coatings segment is expected to lead the market, supported by the rising demand for powder coatings, which presents new opportunities for expansion. Acrylic resins are particularly favored for their durability and environmental benefits, especially in the construction industry where they are used for high-end finishes on various surfaces. The government's initiatives, such as the Hokkaido Shinkansen and Linear Motor Car Maglev Bullet Train projects, further underscore the growing need for protective coatings in large-scale construction endeavors.
The protective coatings market in Japan is characterized by its fragmented nature, with key players including Akzo Nobel N.V., PPG Industries, Inc., Sherwin-Williams Company, Kansai Paint Co. Ltd., and Nippon Paint Holdings Co., Ltd. The market's growth is supported by the country's significant number of skyscrapers and high-rise buildings, particularly in Tokyo, which necessitate robust protective solutions to maintain structural integrity and aesthetic appeal. Ongoing and upcoming construction projects, such as the redevelopment of the Yaesu area and the Minami Koiwa 6-Chome District Urban Redevelopment Project, are expected to drive further demand for protective coatings. However, fluctuations in raw material prices may pose challenges to market growth, while the substitution of epoxy and polyurethane with acrylic coatings offers a short-term solution to cost increases.
Japan Protective Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Infrastructure and Industrialization in Russia
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1.1.2 Increasing demand from Japan's Oil and gas industry
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1.2 Restraints
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1.2.1 The Fluctuations in the prices of raw materials
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Value in USD Million)
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2.1 End-user Industry
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2.1.1 Oil and Gas
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2.1.2 Mining
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2.1.3 Power
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2.1.4 Infrastructure
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2.1.5 Other End-user Industries
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2.2 Technology
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2.2.1 Waterborne
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2.2.2 Solventborne
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2.2.3 Powder Coatings
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2.2.4 UV-Cured
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2.3 Resin Type
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2.3.1 Acrylic
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2.3.2 Epoxy
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2.3.3 Alkyd
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2.3.4 Polyurethane
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2.3.5 Polyester
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2.3.6 Others
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Japan Protective Coatings Market Size FAQs
What is the current Japan Protective Coatings Market size?
The Japan Protective Coatings Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Japan Protective Coatings Market?
Akzo Noble N.V., PPG Industries, Inc., The Sherwin-Williams Company, Kansai Paint Co. Ltd and Nippon Paint Holdings Co., Ltd. are the major companies operating in the Japan Protective Coatings Market.
