Industrial Coatings Market worth USD 103.2 billion by 2025

According to a new market research report the “Industrial Coatings Market by Resin (Polyurethane, Epoxy, Acrylic, Polyester, Alkyd), Technology, End-Use Industry (Industrial, Industrial, Protective, Automotive, Aerospace, Marine, Wood, Packaging), And Region – Global Forecast To 2025”, The industrial coatings market is expected to grow from USD 85.2 billion in 2020 to USD 103.2 billion by 2025, at a CAGR of 3.9% during the forecast period. The major factors driving the industrial coatings market include the increasing demand for environmentally friendly coatings, need for efficient process and durable coatings with better aesthetics, and growing demand from the APAC region.

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This report also provides a comprehensive analysis of the companies listed below:

  • Jotun A/S (Norway), Axalta Coating Systems, LLC (US), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), Teknos Group (Finland), PPG Industries, Inc. (US), RPM International Inc. (US), Tikkurila Oyj (Finland), Hempel A/S (Denmark), Kansai Paint Co., Ltd. (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Chemours Company (US), and NOROO Paint & Coatings Co Ltd (South Korea)

Need for efficient process and durable coatings with better aesthetics, increasing demand for environmentally-friendly coatings and growing demand from the APAC region are the major factors driving the industrial coatings market. Industrial coatings are thin films applied to steel, concrete, and other materials to augment specific properties such as corrosion resistance, wear resistance, conductivity, and so on. Industrial coatings are manufactured with conventional polymers such as epoxy, polyurethane, acrylic, alkyd, polyesters, and fluoropolymer. The industrial coatings market depends heavily on the performance of the end-user industries such as protective, automotive, aerospace, marine, wood, packaging, coil, rail and general industrial equipment.

According to a new market research report the “Industrial Coatings Market by Resin (Polyurethane, Epoxy, Acrylic, Polyester, Alkyd), Technology, End-Use Industry (Industrial, Industrial, Protective, Automotive, Aerospace, Marine, Wood, Packaging), And Region – Global Forecast To 2025“, The industrial coatings market is expected to grow from USD 85.2 billion in 2020 to USD 103.2 billion by 2025, at a CAGR of 3.9% during the forecast period. The major factors driving the industrial coatings market include the increasing demand for environmentally friendly coatings, need for efficient process and durable coatings with better aesthetics, and growing demand from the APAC region.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=746

This report also provides a comprehensive analysis of the companies listed below:

  • Jotun A/S (Norway), Axalta Coating Systems, LLC (US), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), Teknos Group (Finland), PPG Industries, Inc. (US), RPM International Inc. (US), Tikkurila Oyj (Finland), Hempel A/S (Denmark), Kansai Paint Co., Ltd. (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Chemours Company (US), and NOROO Paint & Coatings Co Ltd (South Korea)

 

Need for efficient process and durable coatings with better aesthetics, increasing demand for environmentally-friendly coatings and growing demand from the APAC region are the major factors driving the industrial coatings market. Industrial coatings are thin films applied to steel, concrete, and other materials to augment specific properties such as corrosion resistance, wear resistance, conductivity, and so on. Industrial coatings are manufactured with conventional polymers such as epoxy, polyurethane, acrylic, alkyd, polyesters, and fluoropolymer. The industrial coatings market depends heavily on the performance of the end-user industries such as protective, automotive, aerospace, marine, wood, packaging, coil, rail and general industrial equipment.

Based on resin type, polyurethane resins dominated the industrial coatings market in 2019. Polyurethane resin-based coatings have properties, such as high durability, toughness, ease of cleaning, and high gloss. These properties make them preferable in a wide range of applications. The polyurethane resin-based coatings are used where high performance is expected, such as oil-rig towers, warehouses, industrial plants, heat-resistant coatings, and bridges.

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Based on end-use industry, the general industrial segment is the largest end-use industry of industrial coatings. The general industrial coatings market has diverse end-users and is tied to multiple industries. The drivers of the general industrial coatings market are population growth, improving standard of living, infrastructure growth, global GDP growth, and recovery & growth in the construction industry.

The acrylic segment is projected to register the higher CAGR in the industrial coatings market during the forecast period.

Acrylic resins are a group of thermoplastic or thermosetting plastic substances derived from acrylic acid, methacrylic acid, and other related compounds. These resins offer excellent resistance to extreme environmental conditions and enable fast-setting times in comparison to other resin systems. They find use in automotive, industrial assembly, furniture, electrical & electronics, and other end-use industries.

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Solvent-based industrial coatings are estimated to be the largest technology in 2020

Solvent-based industrial coatings are preferred over water-based coatings in humid environments. Solvent-based coatings cure due to a chemical reaction between oxygen in the atmosphere and their constituents, and not by the evaporation of water. Solvent-based industrial coatings achieve a higher gloss level than water-based coatings. It is applied to the surface of the material to prevent corrosion and is more flexible than water-based coatings during the curing of the coating. Solvent-based industrial coatings are used widely in numerous end-user industries such as automotive, marine, aerospace, coil, transportation, packaging, and protective, among others.

General industrial segment to dominate the industrial coatings market during the forecast period

The everyday uses of powder-based industrial coated products include lighting fixtures, antennas, and electrical components. Schools use powder-coated bleachers, soccer goals, basketball backstops, lockers, and cafeteria tables. Corporate offices utilize powder-based industrial coated file drawers, computer cabinets, laptop computers, and cell phones. In domestic homes, applications include baby strollers, cribs, playpens, car seats, toys, wagons, electronic components, gutters & downspouts, bathroom scales, mailboxes, satellite dishes, toolboxes, and fire extinguishers. The rapidly increasing demand for these products will boost the market over the next five years.

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APAC is expected to account for the largest share of the industrial coatings market during the forecast period.

APAC has emerged as the leading consumer and producer of industrial coatings. The easy availability of low-cost labour and raw materials are driving foreign investments, which is increasing the production of industrial coatings in the region. APAC is also the fastest-growing industrial coatings market.

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