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New York, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Protective Coatings Market - Global Outlook and Forecast 2021-2026" - https://www.reportlinker.com/p06020375/?utm_source=GNW
6% during the period 2021–2026.
The global protective coatings market is expected to grow over 1.4X times in terms of revenue during the forecast period. In 2020, the market witnessed reasonable growth, with over 41% of the share contributed by the APAC market, especially India, China, and Japan. The growth of protective coatings in the European region has been boosted by the development in oil and gas segments and investments in various infrastructure projects during 2015–2019. The growth of protective coatings in the European market declined in 2020 due to the outbroke of the COVID-19, which resulted in the abrupt downturn in the European construction market. The market has been highly affected by the COVID-19 outbreak due to variations in the construction business and raw material prices, production of raw material, and implementation of lockdown in various countries. Increasing pricing pressures and a shortage of labor in many countries have impacted the construction and infrastructure development activities. However, the global protective coatings market share is expected to witness sudden traction in demand during 2021.