Report Predicts Global Protective Coatings Market to Reach $16.7 Billion by 2030
NEW YORK — Market intelligence company StraitsResearch, Pune, India, announced the release of a new report covering the protective coatings industry. According to the report, the global protective coatings market was valued at $12.2 billion in 2021 and is projected to reach $16.7 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.4%.
The study found that the building industry's global expansion has boosted demand for protective coatings dramatically. Globally, population growth, urbanization and industrialization have raised the need for infrastructure development and construction, particularly in fast-growing countries in Asia-Pacific, Central and South America, and the Middle East.