The Epoxy segment is expected to dominate the Global Primer Market in the forecast period
One
of the most compelling drivers behind the rise of the Primer Market is the Rise
in Building and Construction sector.
According to TechSci
Research report, “Global Primer Market - By Region, Competition, Forecast
& Opportunities, 2028”.
The Global Primer Market is expected to grow with a CAGR of 5.82% during the
forecast period. Primers are being used more frequently in domestic settings to
improve the strength and texture of painted surfaces. In addition to being used
on walls, primers are also applied to metal and wooden surfaces, which will
continue to fuel the expansion of the primer market through 2028. The need for
primers in the infrastructure industry is growing strongly in the nation as the
Indian government places a high premium on changes in this area and takes its
Smart City initiatives into consideration. Government initiatives like the
construction of new ports, the expansion of existing ports, and the creation of
new airports are gathering steam nationwide. In addition, policy reforms are
leading to an increase in government measures to bring in FDI. In addition, the
majority of multinational businesses are migrating their manufacturing
facilities from China to Southeast Asian nations during the epidemic, which
could lead to the development of new infrastructure projects throughout
India. The need for all the
infrastructure initiatives and projects is anticipated to increase.
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over xx market data Figures spread through 180 Pages and an in-depth TOC on " Global
Primer Market.”
Based on the resin
type, epoxy segment will dominate the market, The metal industry is most likely
to dominate the epoxy primer market globally, In many different industries,
including automotive, maritime, aviation, building of energy infrastructure,
and oil and gas, epoxy primers are frequently used on metal substrates. These
primers provide exceptional adhesion, corrosion, and chemical resistance, and
are widely used in automotive and marine applications. Their use also
contributes to a decrease in ongoing maintenance costs.
Based on the End Use,
building and construction sector is expected to dominate the primer market, The
construction and building industry rewards primers the best for flooring
applications on concrete and stonework surfaces. The development of the
building and construction industries and the rising population in emerging
economies are what are driving the market for primer. Because of the increase
in building and construction applications for primers, APAC has the greatest
population among the rising economies. Increased government spending on
infrastructure development in India is to blame for the growth in this area.
Because of the infrastructure improvements in this area, there is a huge need
for coatings, which expands the primary market. Primer is a commodity that many
vendors are investing in because manufacturers use it extensively to extend the
shelf life and durability of their products. During the forecast period, Asia
Pacific is expected to grow the most. This is because the construction industry
and furniture production in the region are both growing. Asia-Pacific has a lot
of countries with emerging economies, like India, China, Indonesia, Vietnam,
and others. This has made it a market that investors are interested in. By
2030, the global construction market is expected to be worth USD 8 trillion.
Countries like India, China, and the United States will drive most of this
growth. China is amid a construction boom. The country has the largest
building market in the world, making up 20% of all construction investment
globally. The country alone is expected to spend nearly USD 13 trillion on
buildings by 2030. The National Development and Reform Commission (NDRC) says
that USD 38.7 billion will be spent on Shanghai's plan over the next three
years, while USD 8.09 billion will be spent on 16 new infrastructure projects
in Guangzhou.
India was expected to
contribute about USD 640 billion to the construction industry in 2022, thanks
to government programs like "housing for all" and "smart city
plans" that helped build infrastructure and make housing more affordable.
The growing construction activities in the country are driving the demand for
paints and coatings in the country, which, in turn, may drive the primer market
over the forecast period. Primer’s usage as undercoats in the automotive
industry plays an essential role in boosting demand for the market. According
to the Association of Southeast Asian Nations Automotive Federation, Asia
Pacific produced 353.83 billion units of motor vehicles and 314.42 billion
units of motorcycles and scooters in 2021. It sold over USD 279.13 billion and
USD 355.1 billion worth of motor vehicles and two-wheelers, respectively, in
the same year. In 2021, China was the leader in the global auto market with
sales of 26,770,000 vehicles. Because of this, the above factors are likely to
have a big effect on the market in the coming years.
Key
market players in the Global Primer Market include:
- Akzo Nobel NV
- Asian Paints
- Axalta Coating Systems, LLC
- BASF SE
- Berger Paints India Limited
- Hempel AS
- Jotun
- Kansai Paint Co. Ltd.
- Masco Corporation
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“The primary factor
predicted to influence the Primer Market business within the anticipated time
frame is probably the development area's rapid growth. Due to the booming
infrastructure development, the development region must experience vigorous
growth everywhere. The development of end-use industries, including aviation,
oil and gas, marine, mining, automobiles, and the power generation industry, is
anticipated to significantly boost the global market for protective coatings. The Primer Market has also advanced as a
result of rapid urbanization and industrialization, a number of other factors
will also propel the market,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Primer Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast Segmented by Resin Type
(Acrylic, Epoxy, Others), By Pack Size (Up to 1 liter, 1 liter, 4-liter, 10
liter and above), By Price Category (Premium, Mid-Range, Economy), By Type
(Water Based, Solvent Based), By End Use (Residential, Commercial, Industrial, Infrastructure),
By
Region, Competition, 2018-2028”,
has evaluated the future growth potential of Global Primer Market and provides
statistics and information on market structure, size, share, and future growth.
The report is intended to provide cutting-edge market intelligence and help
decision-makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities present in the Global Primer Market.
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