Primer is a type of coating applied to surfaces before painting to enhance the adhesion of the paint and protect the surface from corrosion. The global primer market size was USD 22.58 Billion in 2022 and is expected to register a revenue CAGR of 6.4% during the forecast period, according to latest analysis by Emergen Research. The global primer market is expected to grow significantly in the coming years, driven by factors such as increasing demand for construction and infrastructure development, rising automotive production, and growing awareness of the benefits of using primers. This article will provide an overview of the primer market, its drivers, restraints, growth factors, and relevant statistics from government organizations.
The construction industry is a major driver for the primer market as it requires a significant amount of primer for various applications such as steel structures, concrete surfaces, and wooden structures. The growing demand for infrastructure development and renovation projects is expected to drive the growth of the primer market in the coming years. The rising automotive production is also driving the demand for primer coatings as it offers protection against corrosion and enhances the appearance of the vehicle.
The high cost of raw materials used in the production of primer coatings is a major restraint for the market. The volatile prices of raw materials such as titanium dioxide, zinc oxide, and solvents can affect the cost of production and lead to price fluctuations. Moreover, stringent government regulations related to the use of volatile organic compounds (VOCs) in the production of primer coatings can also pose challenges to the growth of the market.
According to the International Energy Agency (IEA), the global investment in infrastructure reached USD 2.5 trillion in 2019, indicating the growing demand for construction and infrastructure development. This trend is expected to drive the demand for primer coatings as it offers protection against corrosion and enhances the durability of the structures. Furthermore, according to the International Organization of Motor Vehicle Manufacturers (OICA), the global production of motor vehicles increased from 84.2 million units in 2015 to 92.1 million units in 2019, indicating the growing demand for automotive primer coatings.
The current COVID-19 pandemic is expected to have an effect on the growth of the Primer industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the Primer sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Primer industry.
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Key companies profiled in the report include:
PPG Industries, Inc., Akzo Nobel N.V., Masco Corporation, BASF SE, The Sherwin-Williams Company, Nippon Paints Holdings Co., Ltd., Kansai Paint Co., Ltd., Valspar, RPM International Inc., and Asian Paints
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Primer market?
What are the key product types and applications of the Primer industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Primer market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Primer Market by 2027?
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Market Segmentation
-
Ingredient Outlook (Revenue, USD Billion; 2019-2032)
- Resin
- Acrylic
- Epoxy
- Poly vinyl acetate
- Alkyd
- Other resins
- Additives
- Dispersant
- Biocides
- Surface modifier
- Other additives
- Others
- Resin
-
Application Outlook (Revenue, USD Billion; 2019-2032)
- Metal
- Plastic
- Concrete
- Wood
- Others
-
End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Building and Construction
- Automotive
- Industrial
- Packaging
- Furniture
- Others
Regional Analysis:
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
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ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type applications
Chapter 9: Current and Future Trends
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