Industrial Coatings Industry 2019 Share Report Market Trend to Reach USD 119 Bn With CAGR of 5.8 %, Growth Analysis, Business Opportunities by 2025
Sep 17, 2019
Global Industrial Coatings Market Research Report: Information by Resin (Polyurethane, Acrylic, Alkyd, Epoxy, Polyester, Fluoropolymers) Type (Solvent, High Solids, Powder, and Water), End-Use (Automotive OEM, Construction, General Industrial, Marine, Aerospace, Wood, Packaging) and Region Forecast till 2025
Pune, India - September 17, 2019 /MarketersMedia/ —
Industrial Coatings Market Overview:
The global industrial coatings market size was USD 24.2 billion in 2016 and could touch the valuation of USD 119 billion by the end of 2025, says Market Research Future (MRFR). It could expect to achieve a CAGR of 5.8 % during the forecast period (2019-2025).
Industrial Coating are used for a multiple application across industries for a range of advantages it offers. Primarily for protecting the substances from various types of corrosion. Specifically, to prevent concrete or steel from corroding and to make these materials more fire resistant. Industrial Coatings are extensively used in industries like automotive, building & construction, marine, O&G, medical & healthcare. Government legislation regarding Volatile Organic Compound (VOC) content has augmented the demand for innovative and bio-based coatings that can offer increased service life & improve corrosion resistance. This demand from the end user industries have prompted the manufacturers to develop environmentally sustainable Industrial Coating which offer similar coating properties compared to established systems. These factors are fuelling the market growth of Industrial Coating globally allowing market to garner phenomenal prominence.
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Demand from the burgeoning industries like automotive, construction, healthcare is predominantly driving the market growth fuelling the demand for protective & maintenance coatings, coil coatings, packaging coatings, wood coatings and marine coatings. Additionally, increase in demand for fire resistant and corrosion resistant especially from the building & construction sector has estimated to increase the demand of industrial coating in the forecasted period. Coil coatings and general finish coatings are too witnessing an augmented demand in the electrical and automotive sector which is estimated to propel the market growth.
Industry/ Innovation/Related News:
On Feb 19th, 2019, PPG, a globally renowned Fortune 500 company, announced its plans of investing $10 million in an all-new 82,000-square foot facility and class A coating line at its coating’s services facility of Greenville, South Carolina. The facility is scheduled to be completed by August this year and the expansion is aimed to accommodate the increasing demand of class A coatings application and value-added services for the automotive markets.
January 18, 2018 - Adaptive Surface Technologies, Inc. (UK) a global provider of line of industrial coatings announced the product launch of SLIPS® Repel. Designed for large industrial liquid containers, SLIPS®Repel coatings create a slippery, self-healing liquid layer on surfaces to allow sticky materials to easily flow through industrial production systems with virtually no residue left behind.
January 16, 2018 - Axalta Coating Systems (US) global provider of Industrial coatings providing with innovative, colorful, beautiful and sustainable solutions for automotive OEM announced the launch of two new apps and a new feature to an existing app that are designed to help customers complete tasks more quickly and accurately. Some more features of Axalta Apps include ‘General Industrial Product System Selector App’ analyses user inputs to recommend best coatings solution, ‘China OEM and Refinish Digital Color App’ boosts productivity with on-demand library of more than four million color formulas, snap a picture, and get a color match with the north America ‘Industrial Color Matching App’ for liquid and powder coatings.
Industrial Coatings Market Key Players:
AkzoNobel N.V, BASF SE, PPG Industries Inc., Valspar (U.S.), Sherwin-Williams Co. Ltd, DuPont Co, NOROO Paints & Coatings, Asian Paints, Burke Industrial Coatings, and Industrial Nanotech, Inc. are some of the prominent players profiled in MRFR Analysis and are at the forefront of the competition in the Global Industrial Coatings Market.
Industrial Coatings Market Segments Analysis:
The Industrial Coating Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
By Types:
Comprises Water Based Coatings, Powder Coatings, & Solvent Based Coatings.
By Application:
Automotive OEMs, Marine Coatings, Protective & Maintenance Coatings, Coil Coatings, Packaging Coatings, Wood Coatings and others.
By Regions:
North America, Europe, APAC and Rest of the World.
Liquid or water-based coatings accounts for largest market share owing to the low Volatile Organic Compound (VOC) content which leads to less carbon emission in the environment.
Industrial Coatings Market Regional Analysis:
Geographically, Asia-Pacific region accounts for largest market share owing to rapid industrialization, increase in demand from end user industries like automobile and construction along with government initiatives to increase FDI will fuel the market growth. China is major revenue generating country due to growing demand of paints & coatings. Europe & North America accounts for second and third market share respectively. Other countries like Indonesia, Thailand, and Brazil are focusing on setting an automotive OEMs to increase trading with other countries.
Industrial Coatings Market Table of Content to be Continue…...,
Complete List of Tables and Figures @ https://www.marketresearchfuture.com/reports/industrial-coatings-market-2136
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028 Maharashtra, India
Phone: 6468459312
Website: https://www.marketresearchfuture.com/reports/industrial-coatings-market-2136
Source: MarketersMedia
Release ID: 88919523
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