Global ACE Coatings Market Demand & Forecast Analysis, 2016-2036

Executive Summary: -

ACE Coatings are a category of industrial protective coatings used for providing corrosion resistance and aesthetics to agricultural, construction, and earth moving equipment. Based on the segment type, the market has been segmented as -

•  Agriculture

•  Construction & earthmoving

•  Material handling

The ACE coatings market in terms of technology has been segmented as Water-borne, Solvent-borne, electrocoat, and Powder Coatings. Solvent-based coatings accounted for the largest share in 2019 followed by Powder coatings. Water-borne coatings have the disadvantage of long curing times and require more innovation in the long-term forecast to sustain their market share in the market.

The global ACE Coatings market is driven by end-use industries like agriculture, mining, and building & construction. Development in these end-use sectors is highly dependent on the GDP and economic conditions of nations. Asia-Pacific region accounts for the major demand for ACE Coatings owing to increasing consumer spending power in countries like China and India.

Due to the ongoing COVID-19 pandemic, the global economy is witnessing one of the worst economic slowdowns since the Great Depression of the 1930s. At the national level, every government has imposed a lockdown to “flatten the curve” of the infection. The lockdown has disrupted both supply and demand in the connected world economy. Due to lockdown, transportation, labor supply, and productivity have disrupted the supply side. On the demand side, layoffs, unemployment, business closures, and the ceasing of almost all economic activity disrupted demand.

Asia-Pacific recorded the largest demand for ACE Coatings in 2019 on the back of China which accounts for around 20% of the global demand. The region accounted for more than 40% of global ACE Coatings demand.