Global Foam Coatings Market is expected to rise at a positive CAGR
in the estimated period. Foam is a polymer-modified, fiber oriented material
used for foam shapes and insulated concrete systems. The coatings comprise
acrylics, PVCs, activated carbon, vinyl and conductive carbon. Commercially,
foam coatings possess water and flame resistant properties and they are widely
applied such as primed wood, primed fiberglass and muslin.
Driving factors responsible for the growth of foam coatings market
include growth in demand for foam coatings in construction industries.
Government regulations pertaining to green environment along with rise in
provision of durable coatings resulting into enhanced performance results into
a positive market growth. Foam coatings also display adhesive applications in
various industries, which adds to the market growth. Epoxy-based coatings are
eco-friendly since it does not react with moisture and does not comprise
impulsive organic compounds. However, the challenges associated with disposal
of wastewater are anticipated to hamper the market growth in the estimated
period.
Based on segmentation by technology, the foam coatings market
includes water based, solvent-based and powder based. Based on segmentation by
resin type, the foam coatings market includes acrylic, epoxy and polyurethane.
Epoxy dominates the market segment owing to demand. Based on segmentation by
end-user, the foam coatings market includes building & construction, oil
& gas, transportation and consumer electronics. Building & construction
segment is likely to dominate the segment owing to rise in construction
activities.
Geographically, foam coatings market spans North America, Latin
America, Europe, Asia-Pacific, Middle East and Africa. APAC market dominates
the global market scenario owing to heavy presence of manufacturing units and
rise in exports business. India and China are the key regions in APAC market. North
America and Europe market is also expected to grow at a significant CAGR in the
estimated period
The key players in the foam coatings market include Alfa Foam
Limited, AkzoNobel N.V., Carson’s Coatings, PPG Industries, Sherwin-Williams
Company, Axalta Coating System LLC, Asian Paints Ltd, S.K. Kaken Co Ltd, Masco
Corporation and Lapolla.
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