Bitumen: A Fundamental Construction Material

Bitumen is a sticky, black, and highly viscous liquid or semi-solid form of petroleum that is present in most crude petroleum and in natural deposits in the Earth, some of which sometimes escape naturally in seeps.

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The Global Corrosion Protection Rubber Coating Market was valued at around US$ 7.75 Bn in the year 2023, and is projected to reach $10.55 Bn by the year 2030, growing at a CAGR of 4.5% during the forecast period.

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The economic value generated by the paints & coatings industry was estimated at approximately USD 161.44 billion in 2022. This economic output is an amalgamation of basic paints & coatings product categories namely, high solids/radiation curing, powder coatings, waterborne coatings, solvent-borne coatings and other specialty coatings.

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Waterborne and powder-based coatings are gaining popularity among various end users owing to their properties such as low VOC content in comparison with solvent borne paints & coatings. Favorable governmental regulations regarding low VOC emission coatings, especially in North America and Europe, are anticipated to impact market growth positively over the foreseeable future. However, waterborne coatings are expensive as compared to other substitutes, including polyurethane and epoxy coatings. The high cost is due to high operational cost including raw material prices. The expensive waterborne coatings are limit the market expansion in developed economies.

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The Paints and Coatings Market is growing due to the increasing demand for protective and decorative finishes in construction, automotive, and industrial applications. Advances in eco-friendly formulations, such as water-based and low-VOC paints, are gaining traction. The market is also driven by new trends in color and texture customization.
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The Abrasion Resistant Coatings Market is experiencing growth due to the demand for protective coatings in industries such as automotive, marine, and construction. These coatings offer durability and resistance to wear and tear, extending the life of equipment and structures. The market is driven by the need for cost-effective maintenance solutions and advancements in coating technologies.
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The Protective Coatings Market is growing as industries seek durable coatings to protect structures and equipment from corrosion, wear, and environmental damage. Protective coatings are used in construction, automotive, marine, and industrial applications. Innovations in coating formulations and increasing infrastructure investments are key market drivers.
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