The ever growing awareness among the manufacturing industries regarding the significance of effective maintenance of industrial and mechanical equipment to ensure occupational safety standards as well as the ascent of electronics sector in the developing economies will aid the shipment to surge ahead during the forecast period. It is anticipated that the market is set to grow at a desirable CAGR o...
Food grade epoxy paints are derived from the combination of epoxies. Food grade epoxy paints are chemical and water resistant, and they have anti-fungal properties and are extremely durable and possess excellent adhesion to a variety of substrates. They find applications in food processing, food packaging, and industrial applications. Furthermore, food grade epoxy paints are recommended for use in the coastal areas and they can also be applied on floors to protect from saline and chemicals. The growing demand for paints and coatings for industrial applications is the vital factor expected to encourage the overall demand for food grade epoxy paint. The market is estimated to grow at a significant rate in the upcoming years with the development of new materials, inventions, and progression of equipment and application processes. High cost of food grade epoxy paints could confine the progress of the market, but their exceptional properties and long life would overshadow the high cost.
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Growing Urbanization is expected to Drive the Growth of the Market
Food grade epoxy paints are extensively used in manufacturing of water tanks, packaging, and processing. The global food grade epoxy paint market is highly concentrated, with presence of handful leading companies. Water-based food grade epoxy paints are increasingly replacing organic solvents. The VOCs released from solvent-based paints is the primary reason for the switch of manufacturers to water-based food grade epoxy paint. The absence of isocyanate, costly ventilation systems, and inflammable elements make water-based food grade epoxy paints the first choice. The growing demand for waterborne epoxy paint, particularly from developing countries, is expected to upsurge the growth of the global food grade epoxy paint market.
Global Food Grade Epoxy Paint Market Segmentation
By Application, the global food grade epoxy paint market is segmented into: Painting and Coating Water Tanks Pipelines Reservoirs Food Packaging Preparation Processing
By Function, the global food grade epoxy paint market is segmented into: Adhesive Anti-Fungal Anti-Corrosive
By Distribution Channel, the global food grade epoxy paint market is segmented into: Hypermarkets/Supermarkets Specialty Stores Retail Stores Online Stores
By Technology, the global food grade epoxy paint market is segmented into: Water-Based Powder-Based Solvent-Based
Global Food Grade Epoxy Paint Market: Key Players
Examples of some of the key players identified in the global food grade epoxy paint market include Rust-Oleum, Resoltech, Hemsan Solutions, Tuff Coat Polymers Pvt. Ltd., Epoxy International, Techcoat Contractors, Inc., McCord Contractors, Inc., Superior Epoxies and Coatings, Inc., Key Resin, Co., The Donwell Co., Inc., STP Limited, Monarch Industrial Products Pvt. Ltd., Metal Coatings Corp., Berger, Dunmore Corp., Never-Seez, United Gilsonite Lab, Homax, Akshith Techno Coatings, Wilton, and Ameetuff Technical Paint Industries, WONDER.
Key Developments in the Food Grade Epoxy Paint Global Market
In the past few years, the global food grade epoxy paint market has witnessed significant growth and is expected to follow the same trend over the forecast period. The global food grade epoxy paint market is driven by increasing demand from the paint and coatings, food & beverages, water tank industries. Stringent government regulations in the U.S and Europe to control air pollution is expected to result in shift towards adoption of new, low VOC paint technologies. The export of food grade epoxy paints by the manufacturers to service providers makes it a highly productive market.
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Opportunities for Food Grade Epoxy Paint Market Participants
The usage of food grade epoxy paints has been consistently increasing in numerous applications, e.g., food packaging, food processing, water tanks, etc. The demand for food grade epoxy paints owing to their properties (low permeability, good resistance, easily fixed) is also rising. Asia Pacific is the expected to be the leading market for food grade epoxy paints, in terms of value and volume, followed by Europe and Rest of the World. Due to the growing demand on domestic front, easy access to resources, raise in disposable income Asia-Pacific is expected to be the dominant regional market for food grade epoxy paint over the forecast period.
The Global Food Grade Epoxy Paint Market by Region is segmented into: North America Latin America Eastern Europe Western Europe Asia Pacific except Japan Middle East & Africa Japan.
Key Data Points Covered in the Report: An overview of the global Food Grade Epoxy Paint market including background and advancement. Macroeconomic factors affecting the Food Grade Epoxy Paint market and its potential. Market dynamics, such as drivers, challenges, and trends. Detailed value chain analysis of the Food Grade Epoxy Paint market. The cost structure of the Food Grade Epoxy Paint and segments covered in the study. In-depth pricing analysis, by crucial Food Grade Epoxy Paint segments, regions and by major market participants. Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario. Analysis of the market structure, including a tier-wise categorization of key market participants. Competitive landscape of the market, including detailed profiles of the top players in this market.
Regional Segments Analyzed Include North America (U.S., Canada) Latin America (Mexico. Brazil) Western Europe (Germany, Italy, France, U.K, Spain) Eastern Europe (Poland, Russia) Asia Pacific (China, India, ASEAN, Australia & New Zealand) Japan Middle East and Africa (GCC, S. Africa, N. Africa)
Highlights from the Report Elaborated scenario of the parent market Transformations in the market dynamics Detailed segmentation of the target market Historical, current and forecast market size based on value and volume Latest industry developments and trends Competition landscape Strategies adopted by the market players and product developments made Potential and niche segments, along with their regional analysis Unbiased analysis on performance of the market Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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