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Industrial Coating Market (Product Type - Acrylic, Polyurethane, Epoxy, and Others; Technology - Solvent Based, Water Based, Powder, and Others; End User - General Industry, Marine, Automotive and Vehicle Refinish, Electronics, Aerospace, Oil and Gas, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : January, 2022

  • Rep Id : CM00888

  • Category : Chemicals & Materials

  • Status : Published

A recent report published by Infinium Global Research on the industrial coating market provides an in-depth analysis of segments and sub-segments in the global as well as regional industrial coating market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional industrial coating market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global industrial coating market. According to the report, the global industrial coating market is projected to reach over USD 108.73 Billion by 2027 from USD 84 Billion in 2020, growing with a CAGR of 3.9% over the forecast period of 2021-2027.

 

Market Insight

The growing demand for environment friendly coatings has evolved greatly over the past few years due to the advancements in technologies. Industrial coatings products are being used since ancient ages. The technologies which are being used currently to manufacture the coatings differ from solved-based technology which was being used before. Industrial coatings offer us benefits such as crack ability, high flexibility, waterproofing & weatherproofing, resistance to dirt, mildew, and chemicals. Moreover, the use of industrial coating in industries is rising due to corrosion, chemical resistance, or weather ability of cost-saving reduction. The market players in the Industrial coating industry are offering a wide range of coatings such as Polyurethane Coatings, Waterborne Coatings, Nanocoating, Acrylic Coatings, and many others.

 

The rising awareness regarding the demand for environmentally-friendly coatings among consumers is the major driving factor for the market growth. The demand for sustainable coating is increasing among consumers. The industrial coating has excellent properties which provide corrosion resistance, wear resistance, conductivity, etc. Furthermore, consumers have changed buying behavior across the world for industrial coating due to changing technologies considering the long-term durability and water resistance. A large number of people prefer powder coatings, largely due to sustainability benefits and the new and effective uses for powder, such as antimicrobial powder applications in high-touch settings, and powder on heat-sensitive substrates. However, the availability of cheaper substitutes such as different types of paints is a major factor that is anticipated to restrain the growth of the Industrial Coating Market. Nevertheless, the development of innovative industrial coating products is expected to provide growth opportunities to the industrial coating market in the upcoming future.

 

Among the regions, Asia-Pacific accounted for the largest share in the global Industrial Coating Market. The growing demand for environmentally friendly coatings, as well as the need for efficient processes and durable coatings with better aesthetics, is the major factor driving the industrial coatings market in Asia-Pacific. Factors such as the easy availability of raw materials and less stringent laws are creating large opportunities in the industrial coating market in Asia Pacific. The growth is attributed to the increasing demand for Industrial Coating products in emerging markets. Moreover, increasing demand by the customer for high-quality products that have long term durability and that are weather-resistant will boost the demand for industrial coatings.

 

Segment Covered

The report on the global industrial coating market covers segments such as product type, technology, and end user. On the basis of product type, the sub-markets include acrylic, polyurethane, epoxy, and others. On the basis of technology, the sub-markets include solvent based, water based, powder, and others. On the basis of end user, the sub-markets include general industry, marine, automotive and vehicle refinish, electronics, aerospace, oil and gas, and others.

 

Industrial Coating Market

Companies Profiled:

The report provides profiles of the companies in the market such as PPG Industries, Inc., Akzo Nobel N.V., Sherwin-Williams Company, Axalta Coating Systems LLC, Jotun, BASF SE, Henkel AG & Company, KGaA, Nippon Paint Holdings Co., Hempel A/S, and Beckers Group.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the industrial coating market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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