The global industrial coatings market was valued US$ 82.5 Bn and is expected to reach 95.86 Bn by 2027, at a CAGR of 4.10% during a forecast period.

Global Industrial Coatings Market

Market Definition:

Industrial coatings are products engineered specifically for their protective and functional properties. But while protection is their underlying goal, they also can be aesthetic. Most industrial coatings are used for corrosion control of concrete and steel, but they lie under a complex market umbrella and work in numerous areas. Also known as an original equipment manufacturer (OEM) coatings, these industrial-grade products can be used for a number of applications. Industrial coatings make up a large market, with hundreds of millions of gallons sold to customer industries per year.

The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.

Market Drivers and Restraints:

The growth of the industrial coating market is driven by factors like development in construction projects that are demanding efficient coating for concrete or steel from corroding will boost the market growth. Properties like its use are to make the material less susceptible to fire or other hazards is creating the thirst in the market from a protection point of view by the numerous sector.

Growing new coatings to prevent pipeline clogging which prevents the formation of ices on the inner surface of the pipes this may clog in the oil wells or pipelines. Ongoing research to solve such problems by the coting industry estimated to open several opportunities for the targeted market in near future. On the other hand, governmental pressure, and initiative to use bio-based coating for governmental vehicles like trains, railway tracks to meet the environmental need is considered as another factor to drive the market in the coming years. Additionally, nano-coating is considered as one of the key factors for the market growth owing to the growing demand aircraft engines sector to reduce fuel consumption will expand market popularity and demand across the globe.

Furthermore, fluctuation in the cost of raw materials and the availability of substitutes in the market is hampering the growth of the industrial coating market.

Industrial Coatings Market Segment analysis:

By the resin segment, the acrylic resin sector is expected to show constant growth during the estimated year and was the largest product segment with the registered market share of more than 36.0% of the total revenue share in 2019. Acrylic coatings are widely accepted and utilized in structural steel, construction equipment, pipes, industrial site, heavy casting, metal coating, automotive, consumer appliances, and other applications. Properties which is attracting the vendors to invest and the various end-users to use for the final product coating include fire resistance, abrasion resistance, UV light resistance, vapor permeability, gloss retention, and high weathering resistance are fuelling its demand among above-mentioned applications. Furthermore, other divisions where these coatings are used in the various formulation including waterborne, solvent-borne, and powder-based.

Industrial Coatings Market Regional Analysis:

Geopolitically, Asia Pacific is expected to dominate the industrial coatings market and is expected to grow at a CAGR of 46.4 % during the forecast period. Developing regions like India, China, and Japan are considered major contributors to the industrial coatings market growth in the Asia Pacific region. Factors such as the presence of numerous rapid industrializations, end-users, and urbanization specifically in India and China are expected to boost the demand for industrial coatings in the region. The implementation of newer technologies, the growth in number of accidents, and increasing disposable income in the developing economies in the APAC region are the major factors that are expected to lift the automotive refinish market in the near future.

Expansions in India Paint & Coatings Industry

AkzoNobel India:

AkzoNobel, the owner of brands such as Dulux and Sikkens, operates six plants across India. In early 2018, AkzoNobel India commenced commercial production at its new powder coatings facility at Thane, near Mumbai. Coming up with an investment of $10 million, this is AkzoNobel’s sixth manufacturing facility in the country. The new facility complements AkzoNobel’s existing plant in Bangalore, adding new product lines in bonded metallic powder and pipe and re-bar coatings. will open a number of doors for the targeted market in terms of value and volume.

The objective of the report is to present a comprehensive analysis of the Global Industrial Coatings Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global Industrial Coatings Market dynamics, structure by analysing the market segments and project the Global Industrial Coatings Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Industrial Coatings Market make the report investor’s guide.

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Scope of Industrial Coatings Market

Global Industrial Coatings market, By Resin

• Polyurethane

• Fluoropolymers

• Polyester

• Acrylic

• Alkyd

• Epoxy

• Others

Global Industrial Coatings market, By Type

• High Solids

• Solvent

• Powder

• Water

Global Industrial Coatings market, By End-Users

• Automotive OEM

• General Industrial

• Construction

• Marine

• Aerospace

• Wood

• Packaging

• Others

Global Industrial Coatings Market, By Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

Key Players Operating the Industrial Coatings Market,

• The Sherwin-Williams Company

• Weilburger Coatings GmbH

• Axalta Coating Systems, LLC

• Nippon Paint Holdings Co., Ltd

• Noroo Paint & Coatings Co., Ltd

• RPM International Inc

• PPG Industries, Inc.

• Akzo Nobel N.V.

• Hempel A/S

• Kansai Paint Co. Ltd

• Teknos Group

• Tikkurila OYJ

• BASF SE

• Valspar

• Jotun

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