Description :
Global Industrial Coatings Market Research Report: Information By Resin (Acrylic, Polyurethane, Epoxy, Polyester and Fluoropolymers), Technology (Solvent-Based, Water-Based and Powder), End Use (General Industrial, Automotive & Transportation, Marine Protective, Industrial Wood, Packaging) and Region (North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa) - Forecast till 2027

Keywords :
Industrial Coatings, Industrial Coatings Market, Industrial Coatings Industry, Industrial Coatings Market Size, Industrial Coatings Market Share, Industrial Coatings Market Analysis, Industrial Coatings Market Uses, Industrial Coatings Market, Global
Industrial Coatings Market Analysis

The increasing demand for industrial coatings in the end-use industries, including general industries, automotive & transportation, marine, wood finishes, and packaging, is the primary factor that is expected to boost the growth of the global industrial coatings market. The growth of the industrial coatings market is driven by the increasing demand for environment-friendly coatings such as water-borne coatings, powder coatings, and UV cure technology coatings.
This is mainly due to the rising concerns over the depletion of the ozone layer and declining air quality globally. Many global companies such as AkzoNobel N.V, PPG Industries, Ica Group, and Croda International plc have already launched their bio-based coatings products in the global market. Moreover, an increased focus on R&D has been witnessed among the market players to develop bio-based coatings products with innovative plant-based ingredients. Furthermore, many coatings industry suppliers offer raw materials with renewable content to formulators. For instance, Koninklijke DSM N.V., a subsidiary of DSM coating resins, offers its Decovery series of resins that features bio-based contents ranging from 27% to 49%.
Furthermore, the growing adoption of nano-coatings and an increase in mergers and acquisitions by prominent manufacturers by the end users is likely to create growth opportunities for the market players during the forecast period. However, the difficulty in obtaining thin films in powder coating technology is likely to hamper the growth of the global market during the forecast period.

Top Key Players
MRFR has identified the following companies as the Key Players in the Global Industrial Coatings Market — PPG Industries, Inc (US), Axalta Coating Systems Ltd (US), Nippon Paint Holdings Co., Ltd (Japan), The Sherwin-Williams Company (US), Akzo Nobel N.V. (Netherlands), Asian Paints PPG Pvt. Limited (India), Jotun (Norway), Kansai Paint Co., Ltd (Japan), Beckers Group (Germany), RPM International Inc (US), Hempel A/S (Denmark), KCC CORPORATION (South Korea), NOROO Paint & Coatings Co Ltd (South Korea), Sika AG (Switzerland), and Wacker Chemie AG (Germany).

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Regional Analysis

Based on technology, the global industrial coatings market has been segmented into solvent-based, water-based, powder coating, and others. Water-based coatings contain water-soluble resins and use about 80% water and small quantities of other solvents, such as glycol ethers, alcohol, or other oxygen-containing solvents, to disperse the resins. The resins used include polyesters, polyacrylates, alkyds, epoxies, and epoxy esters. Water-based coatings have low toxicity and reduce the concentration of flammable materials in a confined area owing to low VOC levels and HAP emissions. Moreover, favorable government policies and stringent environmental regulations are expected to favor the growth of water-based coatings during the forecast period.

Based on end-use, the global industrial coatings market is segmented into general industrial, automotive & transportation, industrial woods, marine protective, packaging, and other industries. Among these, the general industrial segment dominated the market with a share of over 35 % and valued at over USD 23 billion in 2019. The general industrial segment includes the application of industrial coatings in chemical, energy & power, textile, equipment manufacturers, and others.
The industrial coatings are used to provide a protective layer and corrosion resistance, mechanical, weathering, and heat and radiation resistance to the metals and the substrate under the coatings. Moreover, industrial coatings contribute to the durability of a product. Industrial coatings are widely used in chemical processing owing to their properties of abrasion, chemical, and heat resistance, along with the addition of protective layers. The growth in the global chemical industry is likely to be a stable revenue source to the global industrial coatings market during the forecast period.

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