Industrial Coatings Market Size, Share, Industry, Forecast and Outlook (2023-2030)

Global Industrial Coatings Market is Segmentation By Resin (Polyurethane, Polyester, Acrylic, Fluoropolymers, Plastisol, Epoxy, and others), By Technology (UV Coatings, Solvent Borne, Powder, Water-Borne), By End-Users (Industrial, Transportation, Packaging, Automotive, Aerospace, and others),  and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Industrial Coatings Market Overview

Global Industrial Coatings Market Expected to Reach a CAGR of 3.8% by 2023-2030. Industrial coatings protect materials from surface deterioration of metals/alloys caused due to moisture, oxidation, salt spray, or exposure to industrial chemicals. Industrial chemicals are used in aerospace, marine, wood, automotive, and other industries.

Industrial Coatings Market Summary

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Industrial Coatings Market Dynamics and Trends

• New heat-insulating coatings are used in the form of nanoparticles which increased the lifetime of the coating by 3 times.

• Recently, researchers found a solution to the problems faced in oil & gas pipelines. A new surface coating is developed to prevent the formation of ice that is used to clog the oil wells/pipelines.
• For railways vehicles, green coatings were successfully used which contain 70% of carbon from biomass. This provides an opportunity for manufacturers to use bio-based raw materials.

Industrial Coatings Market Growth

• Substantial growth in major end-user industries like automotive, marine, aerospace, etc., Harsh and uneven environmental conditions, and increasing pollution levels are majorly driving this market.

Industrial Coatings Market Drivers and Opportunities

• Technological advancements and growth in the construction industry.
• Increasing the use of Nano-coatings.
• Potential prospects for powder coating in shipbuilding and pipeline industries.
• Use of industrial coatings in general industrial applications.

Market Restraints and Challenges in the Market

• Stringent regulatory policies.
• Difficulty in obtaining thin films.
• The requirement of more drying time for water-based coatings.

Industrial Coatings Market Segmentation Analysis

• The market is segmented based on Resin, Technology, and End Users.
• By Resin, the market is further classified into Acrylics, Epoxy, Fluoropolymers, Plastisol, Polyester, Polyurethane(PU), and others.
• Epoxy takes a significant part in this segment with a market share of 32.4%. Rapid growth in the construction industry, where epoxy is used for the concrete floor, is primarily driving this growth.
• By technology, the market is classified as Powder, Solvent Borne, Water Borne, and UV Coatings.
• Solvent-borne coatings are leading this segment taking a significant share of the market.
• Relatively better performance and extensive usage in the primary industries are favoring the growth of this segment.
• However, due to increasingly stringent environmental regulations particularly in China and India, users are shifting from solvent-borne to waterborne coatings.
• By End User, the market is segmented as Automotive, Aerospace, Transportation, Industrial, Packaging, and Others.
• Automotive is considered a large segment of this market, owing to its extensive use of paints and coatings in various stages.

Industrial Coatings Market Geographical Share

• The report segments geographies by region into North America, South America, Europe, Asia Pacific, and RoW.
• Asia Pacific is leading the global market with a share of nearly 55%. Expansion of end-use verticals, industrial growth, economic growth, and low costs of production, especially in China, Brazil, and India, Vietnam are driving the demand for industrial coatings in this region.

Industrial Coatings Companies and Competative Landscape

• This report covers factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
• It profiles companies like AkzoNobel N.V., Axalta Coating Systems, Jotun A/S, Kansai Paints Co., Ltd., Nippon Paint Holdings Co., Ltd., PPG Industries Inc, RPM International Inc., The Sherwin-Williams Company, Tikkurila OYJ, and Valspar Corporation.