Industrial Coatings Market High Demand with a Market Revenue US$ 107.32 Bn by 2027

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The global industrial coatings market size is likely to reach USD 107.32 billion by the end of 2027 and is expected to grow at a compound annual growth rate (CAGR) of 3.02% during the forecast period 2020 to 2027. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, market share analysis, potential challenges, profitability graph and the overall market environment.

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An industrial coating is a coating or paint defined by means of its protective properties than its aesthetic properties. Industrial coatings are produced precisely for their shielding and functional characteristics. The greatest general usage of these coatings is for erosion control of concrete or steel. Industrial coatings cover enormous assortment of different usages for coatings with numerous different functions and requirements. Industrial coatings prolong the total lifetime of materials, which in turn limits replacement costs. They are normally applied by means of airless sprayers, brushes, and paint rollers. Few difficult approaches comprise electro-coating, spinning, and autophoretic application.

Industrial coatings are thin films applied to concrete, steel, and other materials to supplement precise properties like wear resistance, corrosion resistance, conductivity, and others. Industrial coatings are fabricated with conventional polymers including polyurethane, epoxy, alkyd, polyesters, acrylic, and fluoropolymer.

Growth Factors

Some of the major influences driving the growth of industrial coatings market are requirement for efficient process and durable coatings with improved aesthetics, growing demand for environmentally-friendly coatings and increasing requirement from emerging nations of Asia Pacific.

Intensifying demand for industrial coatings from the general industry is suggestively motivating the growth of the global market. Industrial coating is extensively used in numerous end users sectors such automotive, marine, vehicle refinish, general industrial, electronics, oil and gas, mining, aerospace, and power generation. Properties like water resistance, abrasion resistance chemical resistance, flexibility, impact resistance, and UV light resistance are stimulating the demand of industrial coatings in numerous applications like floor, wall, concrete, steel, roofs, and other industrial materials. Further, increasing demand for environmentally friendly coatings on account of rising environmental concern and severe VOC norms are motivating the demand for powder and water-based industrial coatings.

Report Highlights

  • The U.S. has evolved as prime market for industrial coatings in North America due to improved life standards and superior infrastructural growth.
  • Among different types of industrial coatings, solvent-borne coatings are estimated to observe a substantial growth in demand in evolving nations such as Brazil, China, India, and Russia. Mainly due to swift infrastructure development and mounting general industrial sector.
  • Rapid industrialization, particularly in Asia Pacific together with a robust impetus of government on infrastructural expansion and cumulative private-public collaboration are powering the growth of the general industrial sector. This in turn is expected to offer profitable growth opportunities for the industrial coatings market during next few years.

Key Market Players and Strategies

Industrial coatings market is fragmented in nature with the existence of many crucial players and selected small and medium regional and international companies across the globe. Establishments in the market strive depending on product excellence and technology employed for the fabrication of industrial coatings. Most imperative companies are involved in acquisitions, and mergers activities, manufacturing capacity expansion, infrastructural improvement, capitalizing in research and development services, and looking for prospects to vertically integrate throughout the value chain.

Some of the important players in the industrial coatings market include:

  • Hempel A/S
  • PPG Industries, Inc.
  • Akzo Nobel N.V.
  • Axalta Coating Systems, LLC
  • Jotun
  • The Sherwin-Williams Company
  • Nippon Paint Holdings Co., Ltd.

Market Segmentation

By Technology

  • Powder Based
  • Solvent Borne
  • Water-Borne
  • Others

By Product

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

By End-user

  • Electronics
  • Aerospace
  • General Industrial
  • Marine
  • Mining
  • Power Generation
  • Automotive & Vehicle Refinish
  • Oil & Gas
  • Others

Regional Segmentation

  • North America (United States, Canada)
  • Europe (Germany, France, UK, Italy, Russia and Rest of Europe)
  • Asia-Pacific (China, Japan, India, Southeast Asia, Korea and Rest of Asia Pacific)
  • Latin America (Brazil and Rest of Latin America)
  • The Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)

Regional Snapshots

Geographically, Asia Pacific has appeared as the prominent producer and consumer of different types of industrial coatings. This region is a gigantic manufacturing hub which has caused appealing foreign investment and the thriving industrial segments principally owing to the low-cost labor and cheap and easy obtainability of raw materials. There is an upsurge in the demand for industrial coatings due to the rising aerospace, industrial, transportation, marine, and automotive industrial sector across this region.

Europe established position of second-largest market in the global industrial coatings industry. Europe is profoundly regulated to safeguard a high level of environment and human health fortification from the hazards caused by chemicals. Additionally, severe regulations have inhibited formulators and raw material providers. The economic slowdown has also greatly affected many industries in Europe; nevertheless, the demand for industrial coatings is projected to upsurge gradually with safety guidelines and continuing recovery initiatives in the region.

Why should you invest in this report?

If you are aiming to enter the global industrial coatings market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for industrial coatings are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.

Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

Data points covered under industrial coatings market research study:

  • The historic and forecast market estimation from years 2016 to 2027
  • Market estimation and research analysis for the global market by distribution channel
  • Market estimation and research analysis for the global market by region
  • Research analysis on market dynamics including drivers, restraints, opportunities, trends, and market challenges.
  • Competitive scenery and business strategies by key players
  • SWOT Analysis
  • PORTER's five force research analysis
  • PEST Analysis
  • DR impact analysis
  • Heat map analysis
  • Investment feasibility analysis

Key Questions Answered by the Report:

  • What will be the size of the global industrial coatings market in 2027?
  • What is the expected CAGR for the industrial coatings market between 2020 and 2027?
  • Which are the top players active in this global market?
  • What are the key drivers of this global market?
  • How will the market situation change in the coming years?
  • Which region held the highest market share in this global market?
  • What are the common business tactics adopted by players?
  • What is the growth outlook of the global industrial coatings market?

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