Report Finds Epoxy Resins Hold Almost 40% Share of 2K Protective Coatings Revenue
DUBLIN — Fact.MR has issued a study that finds approximately 38% of revenue from 2K protective coatings is generated by epoxy resins. Demand for 2K protective coatings has witnessed significant growth in the past few years, due to rising urbanization in developing countries. People are moving towards urban areas from rural areas, increasing the need for residential and infrastructure projects in developing countries. 2K protective coatings play an important role in enhancing the life of buildings, swimming pools, marine projects and roads by protecting them from rust, acid rain, hard water, growth of microorganisms such as algae and fungi, and from the conditions of harsh climates.
Demand for epoxy resin has increased in the 2K protective coatings market due to benefits such as the enhanced durability of these coatings compared to other coatings. Epoxy resins are also more effective in protecting surfaces from humidity, acid, alkali and seawater. Epoxy resin is used primarily in marine projects to protect them from damage.