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South Korea Protective Coatings Market Size, Share, Growth: By Resin Type: Epoxy, Acrylic, Alkyd, Polyurethane, Polyester, Others; By Technology: Water Borne Coatings, Solvent Borne Coatings, Powder Coatings, Others; By Application: Abrasion Resistance, Chemical Resistance, Others; By End Use; Competitive Landscape; 2024-2032
South Korea Protective Coatings Market Outlook
The South Korea protective coatings market size is projected to grow at a CAGR of 4.1% between 2024 and 2032. The major drivers of the market include the expansion of the automotive sector and rising infrastructural development activities in South Korea.
Key Trends in the Market
Protective coatings refer to materials that are applied on different surfaces to protect them from damage against various environmental and chemical factors such as weathering, corrosion, and abrasion. These products are deployed in various sectors including mining, construction, oil and gas, and automotive, among others.
- The expansion of the automotive sector is supporting the South Korea protective coatings market growth. The protective coatings provide protection to vehicles against rust and corrosion. Corrosion on load-bearing components of vehicles can have detrimental effects on the safety of the vehicles and passengers. Rust on the surface of vehicles can result in the formation of ugly blisters due to the delamination of the paint.
- Increasing research and development activities by the key market players towards the development of environmentally sustainable protective coatings is supporting the market expansion. Growing stringency of government regulations and rising environmental consciousness among the general population is bolstering the product demand.
- Rising infrastructural development activities in South Korea are propelling the utilisation of protective coatings to enhance the lifespan of the infrastructures by providing them protection against rain, heat, ultraviolet radiations, and chemicals, among others.
South Korea Protective Coatings Market Analysis
On the basis of resin type, the market is divided into epoxy, acrylic, alkyd, polyurethane, and polyester, among others. Based on technology, the market is classified into water borne coatings, solvent borne coatings, and powder coatings, among others.
On the basis of application, the market is segregated into abrasion resistance, chemical resistance, fire protection, heat resistance, corrosion protection, and pipe coatings, among others. Based on end use, the South Korea protective coatings market segmentation includes automotive, oil and gas, mining, power, and construction, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Akzo Nobel N.V.
- Axalta Coating Systems, LLC
- PPG Industries, Inc.
- Hempel A/S
- Jotun A/S
- Innochem Co., Ltd.
- Ipsi Chemical Co., Ltd.
- NOROO Paint & Coatings co.,Ltd.
- Sino Polymer Co., Ltd.
- Ecologen Co.,Ltd
- Others
Market Share by Resin Type
Epoxy resins are anticipated to account for a South Korea protective coatings market share in the coming years. This growth can be attributed to the ability of the resins to withstand extreme heat and cold. Other advantages associated with the utilisation of epoxy resins include the fast-drying time. This results in minimal production delays. The utilisation of epoxy resins also ensures that the coatings do not require frequent repairs.
Market Share by End Use
The construction sector is anticipated to witness significant growth over the forecast period. Protective coatings enhance the durability of the buildings and structures by providing them protection against ultraviolet radiations, fire, and corrosion, among others. The protective coatings are also used on industrial infrastructures for reducing the impact of corrosive gases and boosting thermal resistance. The expansion of the residential sector due to increasing urbanisation is further bolstering the South Korea protective coatings market demand.
Competitive Landscape
Akzo Nobel N.V., headquartered in Amsterdam, Netherlands, is one of the leading paints and coatings manufacturers. The company’s brand portfolio includes Sikkens, Interpon, and Dulux, among others. The company was founded in 1792.
Axalta Coating Systems, LLC is known for providing coatings for a wide range of industrial applications including refinishing surface preparation and protective coatings for commercial and light vehicles. The company was founded in 2013 and is headquartered in Pennsylvania, United States.
PPG Industries, Inc. is a paint, coatings, and adhesives manufacturing company that was founded in 1883 and is headquartered in Pennsylvania, United States. The company specialises in marine coatings, sealants, industrial coatings, packaging coatings, and automotive coatings, among others.
Other South Korea protective coatings market key players include Hempel A/S, Jotun A/S, Innochem Co., Ltd., Ipsi Chemical Co., Ltd., NOROO Paint & Coatings co.,Ltd., Sino Polymer Co., Ltd., and Ecologen Co.,Ltd, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Resin Type |
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by End Use |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Protective Coatings Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Protective Coatings Historical Market (2018-2023)
8.3 Asia Pacific Protective Coatings Market Forecast (2024-2032)
9 South Korea Protective Coatings Market Overview
9.1 Key Industry Highlights
9.2 South Korea Protective Coatings Historical Market (2018-2023)
9.3 South Korea Protective Coatings Market Forecast (2024-2032)
10 South Korea Protective Coatings Market by Resin Type
10.1 Epoxy
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Acrylic
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Alkyd
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Polyurethane
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Polyester
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 South Korea Protective Coatings Market by Technology
11.1 Water Borne Coatings
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Solvent Borne Coatings
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Powder Coatings
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Others
12 South Korea Protective Coatings Market by Application
12.1 Abrasion Resistance
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Chemical Resistance
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Fire Protection
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Heat Resistance
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Corrosion Protection
12.5.1 Historical Trend (2018-2023)
12.5.2 Forecast Trend (2024-2032)
12.6 Pipe Coatings
12.6.1 Historical Trend (2018-2023)
12.6.2 Forecast Trend (2024-2032)
12.7 Others
13 South Korea Protective Coatings Market by End Use
13.1 Automotive
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Oil and Gas
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Mining
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Power
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Construction
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Other
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Akzo Nobel N.V.
15.2.1.1 Company Overview
15.2.1.2 Type Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Axalta Coating Systems, LLC
15.2.2.1 Company Overview
15.2.2.2 Type Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 PPG Industries, Inc.
15.2.3.1 Company Overview
15.2.3.2 Type Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Hempel A/S
15.2.4.1 Company Overview
15.2.4.2 Type Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Jotun A/S
15.2.5.1 Company Overview
15.2.5.2 Type Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Innochem Co., Ltd.
15.2.6.1 Company Overview
15.2.6.2 Type Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Ipsi Chemical Co., Ltd.
15.2.7.1 Company Overview
15.2.7.2 Type Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 NOROO Paint & Coatings co.,Ltd.
15.2.8.1 Company Overview
15.2.8.2 Type Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Sino Polymer Co., Ltd.
15.2.9.1 Company Overview
15.2.9.2 Type Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Ecologen Co.,Ltd
15.2.10.1 Company Overview
15.2.10.2 Type Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Protective Coatings Market: Key Industry Highlights, 2018 and 2032
2. South Korea Protective Coatings Market: Key Industry Highlights, 2018 and 2032
3. South Korea Protective Coatings Historical Market: Breakup by Resin Type (USD Million), 2018-2023
4. South Korea Protective Coatings Market Forecast: Breakup by Resin Type (USD Million), 2024-2032
5. South Korea Protective Coatings Historical Market: Breakup by Technology (USD Million), 2018-2023
6. South Korea Protective Coatings Market Forecast: Breakup by Technology (USD Million), 2024-2032
7. South Korea Protective Coatings Historical Market: Breakup by Application (USD Million), 2018-2023
8. South Korea Protective Coatings Market Forecast: Breakup by Application (USD Million), 2024-2032
9. South Korea Protective Coatings Historical Market: Breakup by End Use (USD Million), 2018-2023
10. South Korea Protective Coatings Market Forecast: Breakup by End Use (USD Million), 2024-2032
11. South Korea Protective Coatings Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.1% between 2024 and 2032.
The major market drivers include expansion of the automotive sector and rising infrastructural development activities in South Korea.
The key trends fuelling the growth of the market include increasing research and development activities by the key market players towards the development of environmentally sustainable protective coatings and growing stringency of government regulations.
The major end uses include automotive, oil and gas, mining, power, and construction, among others.
The significant technologies include water borne coatings, solvent borne coatings, and powder coatings, among others.
The applications of protective coatings include abrasion resistance, chemical resistance, fire protection, heat resistance, corrosion protection, and pipe coatings, among others.
The significant resin types include epoxy, acrylic, alkyd, polyurethane, and polyester, among others.
The key players in the market are Akzo Nobel N.V., Axalta Coating Systems, LLC, PPG Industries, Inc., Hempel A/S, Jotun A/S, Innochem Co., Ltd., Ipsi Chemical Co., Ltd., NOROO Paint & Coatings co.,Ltd., Sino Polymer Co., Ltd., and Ecologen Co.,Ltd, among others.
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