South Korea Protective Coatings Market Size, Share, and COVID-19 Impact Analysis, By Resin Type (Epoxy, Acrylic, Alkyd, Polyurethane, Polyester, and Others), By Technology (Water Borne Coatings, Solvent Borne Coatings, Powder Coatings, and UV Cured Coatings), and South Korea Protective Coatings Market Insights, Industry Trend, Forecasts to 2035

South Korea Protective Coatings Market Insights Forecasts to 2035

• The South Korea Protective Coatings Market Size Was Estimated at USD 289.0 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 6.87% from 2025 to 2035
• The South Korea Protective Coatings Market Size is Expected to Reach USD 600.0 Million by 2035

According to a research report published by Spherical Insights & Consulting, the South Korea Protective Coatings Market Size is anticipated to reach USD 600.0 million by 2035, growing at a CAGR of 6.87% from 2025 to 2035. Some of the major factors propelling the market are the growing industrial sector, the introduction of high-performance coatings that provide superior protection and are also environmentally sustainable, and the increasing investments in various infrastructure development projects, especially in urban areas.

Market Overview

The South Korea Protective Coatings Market encompasses the production, distribution, and use of specialty coatings intended to shield different substrates such as metals, concrete, and plastics from environmental elements like corrosion, abrasion, chemical exposure, and UV degradation are all included in the South Korean protective coatings market. These coatings are essential to sectors where longevity and durability are critical, such as manufacturing, infrastructure, energy, automotive, and marine. Additionally, the need for specialized protective coatings that can provide protection in challenging environments has increased due to South Korea's expansion in the shipbuilding, offshore, and onshore oil and gas industries. With the help of government investments, South Korean shipbuilders were responsible for approximately three-quarters of global orders for LNG carrier ships in 2023. Beginning in 2023, the South Korean government intends to invest approximately USD 534 million in the shipbuilding industry over the following five years. This investment could greatly benefit the marine coatings industry and increase the revenue of the South Korean protective coatings market.

Report Coverage

This research report categorizes the market for the South Korea protective coatings market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea protective coatings market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea protective coatings market.

Driving Factors

Tight environmental regulations are driving up demand for waterborne coatings. With their low volatile organic compounds (VOCs), the majority of waterborne coatings can help reduce pollution over time. Moreover, the creation of premium coatings with exceptional performance and durability is a key trend in the South Korean protective coatings market. For example, because of their high abrasion and coating resistance, powder-based coatings are becoming more and more popular in industries like electronics and construction.

Restraining Factors

The cost of coatings is anticipated to be impacted by changes in the price of raw materials like resins and additives. The increased demand for epoxy and acrylic resins due to the growing construction and infrastructure development activities has also resulted in a shortage of these materials, which may affect coating production.

Market Segmentation

The South Korea protective coatings market share is classified into resin type and technology.

• The epoxy segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea protective coatings market is segmented by resin type into epoxy, acrylic, alkyd, polyurethane, polyester, and others. Among these, the epoxy segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The resins' resistance to extreme cold and heat is what's responsible for this growth. The quick drying time is one of the additional benefits of using epoxy resins. Production delays are thus kept to a minimum. Additionally, the use of epoxy resins guarantees that the coatings won't need to be repaired as often.

• The solvent-borne segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea protective coatings market is segmented by technology into water borne coatings, solvent borne coatings, powder coatings, and UV cured coatings. Among these, the solvent borne coatings segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. As their exceptional resilience to environmental stressors and durability, particularly in the oil and gas and infrastructure development industries. Because of the country's stringent environmental regulations and increasing efforts to reduce volatile organic compounds (VOCs), water-borne coatings have also become more popular in recent years and are helping to meet South Korea's protective coatings needs.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea protective coatings market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Akzo Nobel N.V.
• Axalta Coating Systems, LLC
• PPG Industries, Inc.
• others

Recent Developments:

• In November 2023, an agreement was signed between International Paints Korea and I-Tech AB, a biotechnology company, for the use of Selektope, an antifouling substance, to addressed problems like marine barnacle fouling on ships and ultimately boosted the revenue of the South Korean protective coatings industry.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Protective Coatings Market based on the below-mentioned segments:

South Korea Protective Coatings Market, By Resin Type

• Epoxy
• Acrylic
• Alkyd
• Polyurethane
• Polyester
• Others

South Korea Protective Coatings Market, By Technology

• Water Borne Coatings
• Solvent Borne Coatings
• Powder Coatings
• UV Cured Coatings