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Global Primer Market Insight2021-12-29 Comments
The Primer is forecast to steady rise over the next four years. According to the World Knowledge Information (WKI) “Global Primer Professional Survey Report 2021, Forecast to 2026”, Epoxy primers dominate the primer market and are commonly used as corrosion inhibitor pigments. The growing demand for epoxy primers for different applications and the increasing awareness of reducing losses caused by corrosion are expected to drive the growth of the epoxy primer market.The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 5.17% base on WKI regression analysis model.
“The focus of the primer can’t just stay on the preparation coating” said Selena, Senior analyst, Chemical & Material Market Research Center in WKI. “Industry participants of primer must consider the versatility and cost-effectiveness of the product to adapt to the rapid development of the market.”
Primers are widely used in the construction industry. Before painting, it is used as a preliminary coating on walls and other substrates. As there are many emerging economies in the Asia-Pacific region, such as India, China, Indonesia, Vietnam, etc., the Asia-Pacific region has become an attractive market for investors. Due to strong economic growth, domestic companies have been expanding their business. At the same time, foreign companies have been entering these markets to take advantage of current opportunities. This creates demand for commercial infrastructure, such as offices, production plants, buildings, warehouses, etc., leading to an increase in construction activities in these countries. In addition, the wave of digitization has promoted the growth of the service industry, which has further increased the demand for offices and residences by employees. Therefore, all these factors have driven the demand for primers in the Asia-Pacific region, thereby expanding the market size of primers.
There are also factors that market participants must consider. Raw materials commonly used in the production of coatings and paints include resins, pigments, fillers, additives and solvents. Resins account for a major share in the manufacture of coatings and paints. Therefore, epoxy resins are used to produce epoxy primers. The high cost of epoxy and other resins such as acrylic, alkyd, and polyurethane is one of the main constraints on the global primer market.
In February 2020, PPG Industries Inc. completed the acquisition of Industria Chimica Reggiana (ICR) SpA， and became a manufacturer of automotive refinish paint products. More and more market participants will participate. Some of the leading players will include in our report: Akzo Nobel NV, Axalta Coating Systems LLC, BASF SE, PPG Industries Inc. ，The Sherwin-Williams Company and others.
Segmentation of Primer Market:
According to the ingredients, the primers on the market are divided into resins, additives and other ingredients. Resin-based epoxy resin primers are favored by manufacturers in all walks of life. Epoxy primers have excellent adhesion and corrosion resistance, making them more suitable for a variety of applications, such as building and construction, automobiles, ships, oil and gas, energy, and machinery and equipment. It can be seen that its wide availability has promoted the growth of this market segment.Primers with other ingredients can also be used for wooden interiors and furniture. In the construction of residential buildings and houses, wooden interiors in the form of doors, cabinets, window frames, etc. are common, which will further expand the market size of primers. From an application point of view, it has a wide range of applications in the automotive industry, construction industry, and other industries in the market. Among them, during the forecast period, the application of primers in the construction industry may dominate.
Primer Market: Regional Analysis
In terms of geography, the global hand sanitizer market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Due to increased construction activities in the Asia-Pacific region and the presence of many emerging economies such as India, China, Indonesia, Vietnam and other countries in the region, the Asia-Pacific region has become a major regional market for primers.Due to the booming construction industry and increased production of automobiles and furniture, the Asia-Pacific region is expected to experience the highest growth during the forecast period. In the Asia-Pacific region, the demand for primers in China and India is expected to see strong growth. China is mainly committed to increasing the production and sales of domestic electric vehicles, and the demand for primers in China is expected to grow strongly; in India, residential and commercial buildings have been increasing due to the development of the service industry. Therefore, with the increase in construction activities and the government’s efforts to build infrastructure and increase the production and sales of electric vehicles, the demand for primers is expected to increase in the next few years.
Largest share area：Asia-Pacific
Largest share country：China