Market Challenges And Opportunities

Market Dynamics

Bituminous paints are alkaline resistant which makes them ideal for applications such as waterproofing, weather protecting steel coatings, under-water structures, portable water tanks, concrete, and wood. It is used for internal as well as external applications such as steel water pipes, fire escapes, railings and fences, gutters, ladders, and gates among others. Bituminous paint is also used for coating ferrous and non-ferrous metals, as well as for marine applications. Among industries, bituminous paints have the largest demand from the steel industry as they provide excellent cathodic protection to steel pipes, and the coating process is also fairly straightforward. These factors are expected to propel demand for bituminous paints over the forecast period.

Bituminous paints do not require any additional materials such as thinners and are available in the market in ready-for-use form. Bituminous paints can be applied with sprays, brushes, rollers, or using any traditional methods of application. As a result, its user friendly and easy to use properties have increased demand for bituminous paint in commercial applications, compared to its counterparts. Moreover, key players in the global bituminous coatings market are focused on research and development activities to improve their market share and expand their product offerings. This is projected to drive the market growth in the next few years.

Restraints

It is worth noting, however, that bituminous paints have been found to contain solvents that can cause skin infections such as fattening of the skin, drying and cracking of the skin, and dermatitis. Moreover, contact with the skin can cause irritation and prolonged exposure to bituminous paints can induce dizziness, drowsiness, or loss of consciousness. Bituminous paints are also harmful for the aquatic life, and long term exposure can have adverse effects on the marine environment. These factors are likely to hamper demand for bituminous paints over the course of the next few years.