Zinc Rich Primer Market Report Overview
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The global zinc rich primer market size was USD 1469.86 million in 2021 and the market is projected to touch USD 2500.83 million by 2032 at a CAGR of 4.95% during the forecast period.
Zinc Rich Primer is a primer containing zinc. It is used to protect steel against corrosion and improve the adhesion of paint or other coatings. There are two types of primers containing zinc: organic and inorganic. Organic primers are based on epoxy resin and inorganic primers on zinc silicate.
The global market for zinc-based primers is driven by the growing demand for metal components in the construction and marine industries. This market is also supported by various regulations regarding the use of organic coatings. Additionally, worker safety in hazardous environments and high cost of zinc-based paints compared to conventional paints are expected to contribute to the growth of the global organic zinc-based primer market.
COVID-19 Impact: Due to strict government regulations and reduced supply chains impede market growth
The COVID-19 pandemic has been unprecedented and staggering, with the zinc rich primer market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
The global zinc rich primer market has been badly affected by the Covid-19 pandemic. Several sectors have been widely affected by the COVID-19 pandemic, and the industrial coatings market is no different. The production and supply of industrial coatings was severely disrupted and adversely affected several end-user industries such as marine, construction, consumer goods and equipment, and automotive and others due to strict government regulations. The pandemic situation has adversely affected the growth of the zinc primer market, causing a decrease in demand in several end-use industries.
Latest Trends
"Widespread adoption of zinc-based primer is expected to drive market growth "
The zinc primer industry is driven by increasing demand from the targeted end-use industry. Another factor driving the market is the increasing demand for eco-friendly coatings in various end-use industries, including construction, automotive and aerospace. Government restrictions on the emission of volatile organic compounds (VOC) are strict, which has encouraged the creation of eco-friendly primers, increasing market revenues.
Zinc Rich Primer Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into Organic, Inorganic. Organic is anticipated to be the leading segment.
- By Application Analysis
Based on application, the market can be divided into Ship & Offshore, Chemical Plant, Oil and Gas, Industrial Machinery, Construction, Others. Ship & Offshore will be dominating segment.
Driving Factors
"Rapid industrialization and growing population will fuel the market growth"
Rapid industrialization coupled with growing population and changing lifestyles has increased infrastructure development. The demand for corrosion protection of steel structures has also increased. These factors are driving the global demand for zinc rich primers. The increasing use of inorganic pigments as colorants in the plastics industry is driving the zinc rich primer market growth.
"Rising awareness of the environmental and health benefits propel market growth"
Growing awareness of the environmental and health benefits of organic zinc primers is a major driver of the global organic zinc primer market. This is due to the growing awareness of the benefits of using organic zinc primers, such as improved durability and corrosion resistance, reducing the release of VOCs into the environment. This awareness has led to an increase in the use of organic zinc primers in various end-use sectors such as automotive, marine and construction. Inorganic zinc rich primers offer better galvanic protection compared to organic zinc primers due to the reactivity of the silicate binder containing zinc particles. Inorganic zinc coatings are made with higher amounts of zinc due to its reactivity. These above-mentioned factors are expected to increase the global zinc rich primer market growth during the forecast period.
Restraining Factors
"High cost and lack of awareness can hinder market growth "
Global organic zinc-based primers are facing a major setback due to the high cost of raw materials required to produce these primers. This factor has been a major hindrance to market growth as the high cost of raw materials has led to an increase in production costs, which in turn has led to a decline in demand for organic zinc-based primers. Another major constraint to the growth of global organic zinc primers is the lack of awareness and understanding about the product among the end users. Many potential customers are unaware of the benefits of using organic zinc primers, so the demand for the product is low. As a result, this factor is hindering the growth of the global organic zinc rich primer market.
Zinc Rich Primer Market Regional Insights
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"North America is anticipated to dominate the market growth due to demand for organic products"
The zinc rich primer market share in North America is experiencing a period of growth due to several unique factors. Demand for organic products has increased in the region as consumers are more aware of the environmental and health benefits of using organic products. This has increased the demand for organic zinc primers, which are used to protect surfaces from corrosion and rust. The North American market will also benefit from the growing popularity of green building projects, which will increase the demand for organic zinc primers. These primers are used to protect surfaces from corrosion and rust and are also more environmentally friendly than traditional primers.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios. Key industry players in the antacid tablet market have a significant impact on market dynamics. These companies are at the forefront of research and development, consistently introducing innovative formulations and product variations. Their focus on convenience and effectiveness sets industry standards and influences market growth.
List of Market Players Profiled
- AkzoNobel (Netherland)
- Kansai Paint (Japan)
- Sumter Coatings (U.S.)
- Chugoku Marine Paints (Japan)
- Sherwin-Williams (U.S.)
- MBCC Group (Germany)
- Hempel (Denmark)
- PPG Industries (U.S.)
- KCC (South Korea)
- Nippon Paint (Japan)
- Jotun (Norway)
Report Coverage
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1469.86 Million in 2021 |
Market Size Value By |
US$ 2500.83 Million by 2032 |
Growth Rate |
CAGR of 4.95% from 2021 to 2032 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
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By Application
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Frequently Asked Questions
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What value is the zinc rich primer market expected to touch by 2032?
Based on our research the zinc rich primer market is expected to reach USD 2500.83 million in 2032.
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What CAGR is the zinc rich primer market expected to exhibit by 2032?
The zinc rich primer market is expected to exhibit a CAGR of 4.95% by 2032.
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Which are the driving factors of the zinc rich primer zinc rich primer market?
Rapid industrialization and growing population and rising awareness of the environmental and health benefits are two main driving factors of the zinc rich primer market.
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Which are the top companies operating in the zinc rich primer market?
The top key players in the zinc rich primer market are AkzoNobel, Kansai Paint, Sumter Coatings, Chugoku Marine Paints, Sherwin-Williams, MBCC Group, Hempel, PPG Industries, KCC, Nippon Paint, Jotun.