Industrial Coatings Market Value is Projected to Reach $ 107.32 Bn by 2027

Precedence Research recently published a report on “Industrial Coatings Market Size, Share and Growth Analysis, By Technology (Powder Based, Solvent Borne, Water-Borne and Others), By Product (Polyurethane, Acrylic, Epoxy, Alkyd, Polyester), By End-User (Electronics, Aerospace, General Industrial,Marine, Mining, Power Generation, Automotive & Vehicle Refinish, Oil & Gas and Others) – Global Industry Analysis, Trends, Regional Outlook and Forecast 2020 – 2027”. Amid the COVID-19 crisis, the global industrial coatings market value is projected to reach US$ 107.32 billion by 2027, rising at a CAGR of 3.02% from 2020 to 2027. Escalating demand for high durable products and snowballing application of powder coatings are anticipated to bid several prospects for the growth of the industrial coatings market.

An industrial coating is a coating or paint defined by means of its protective properties than its aesthetic properties. Industrial coatings are produced precisely for their shielding and functional characteristics. The greatest general usage of these coatings is for erosion control of concrete or steel. Industrial coatings cover enormous assortment of different usages for coatings with numerous different functions and requirements. Industrial coatings prolong the total lifetime of materials, which in turn limits replacement costs. They are normally applied by means of airless sprayers, brushes, and paint rollers. Few difficult approaches comprise electro-coating, spinning, and autophoretic application.

Industrial coatings are thin films applied to concrete, steel, and other materials to supplement precise properties like wear resistance, corrosion resistance, conductivity, and others. Industrial coatings are fabricated with conventional polymers including polyurethane, epoxy, alkyd, polyesters, acrylic, and fluoropolymer.

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Growth Factors

Some of the major influences driving the growth of industrial coatings market are requirement for efficient process and durable coatings with improved aesthetics, growing demand for environmentally-friendly coatings and increasing requirement from emerging nations of Asia Pacific.

Intensifying demand for industrial coatings from the general industry is suggestively motivating the growth of the global market. Industrial coating is extensively used in numerous end users sectors such automotive, marine, vehicle refinish, general industrial, electronics, oil and gas, mining, aerospace, and power generation. Properties like water resistance, abrasion resistance chemical resistance, flexibility, impact resistance, and UV light resistance are stimulating the demand of industrial coatings in numerous applications like floor, wall, concrete, steel, roofs, and other industrial materials. Further, increasing demand for environmentally friendly coatings on account of rising environmental concern and severe VOC norms are motivating the demand for powder and water-based industrial coatings.

Report Highlights

• The U.S. has evolved as prime market for industrial coatings in North America due to improved life standards and superior infrastructural growth.
• Among different types of industrial coatings, solvent-borne coatings are estimated to observe a substantial growth in demand in evolving nations such as Brazil, China, India, and Russia. Mainly due to swift infrastructure development and mounting general industrial sector.
• Rapid industrialization, particularly in Asia Pacific together with a robust impetus of government on infrastructural expansion and cumulative private-public collaboration are powering the growth of the general industrial sector. This in turn is expected to offer profitable growth opportunities for the industrial coatings market during next few years.

Regional Snapshots

Geographically, Asia Pacific has appeared as the prominent producer and consumer of different types of industrial coatings. This region is a gigantic manufacturing hub which has caused appealing foreign investment and the thriving industrial segments principally owing to the low-cost labor and cheap and easy obtainability of raw materials. There is an upsurge in the demand for industrial coatings due to the rising aerospace, industrial, transportation, marine, and automotive industrial sector across this region.

Europe established position of second-largest market in the global industrial coatings industry. Europe is profoundly regulated to safeguard a high level of environment and human health fortification from the hazards caused by chemicals. Additionally, severe regulations have inhibited formulators and raw material providers. The economic slowdown has also greatly affected many industries in Europe; nevertheless, the demand for industrial coatings is projected to upsurge gradually with safety guidelines and continuing recovery initiatives in the region.

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Key Players & Strategies

Industrial coatings market is fragmented in nature with the existence of many crucial players and selected small and medium regional and international companies across the globe. Establishments in the market strive depending on product excellence and technology employed for the fabrication of industrial coatings. Most imperative companies are involved in acquisitions, and mergers activities, manufacturing capacity expansion, infrastructural improvement, capitalizing in research and development services, and looking for prospects to vertically integrate throughout the value chain.

Key Players

• Hempel A/S
• PPG Industries, Inc.
• Akzo Nobel N.V.
• Axalta Coating Systems, LLC
• Jotun
• The Sherwin-Williams Company
• Nippon Paint Holdings Co., Ltd.

Segments Covered in the Report

This research report includes complete assessment of the market with the help of extensive qualitative and quantitative insights, and projections regarding the market. This report offers breakdown of market into prospective and niche sectors. Further, this research study calculates market revenue and its growth trend at global, regional, and country from 2016 to 2027. This report includes market segmentation and its revenue estimation by classifying it on the basis of product, technology, end-userand region as follows:

By Technology

• Powder Based
• Solvent Borne
• Water-Borne
• Others

By Product

• Epoxy
• Acrylic
• Alkyd
• Polyurethane
• Polyester
• Others

By End-user

• Electronics
• Aerospace
• General Industrial
• Marine
• Mining
• Power Generation
• Automotive & Vehicle Refinish
• Oil & Gas
• Others

By Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Middle East & Africa
• Latin America

Some of the recent developments undertaken by major players in this market include:

• In October 2018, Nippon Paint Industrial Coatings Co., Ltd, operating in the industrial coatings business capitalized powder coating plant located in Japan. With the help of this investment, the firm is focusing on its powder coatings accomplishments as an growing and imperative area and endures to further strengthen the powder coatings industry both in extension and technological development of its product offerings.
• In August 2018, Axalta extended its liquid industrial coatings production capacity in the U.S. by around1 million gallons yearly. The expansion is planned to be finalized in the 1^st quarter of 2019 and would permit the corporation to endure to convey high-volume solutions to furnish the developing requirements of its customers.

Key Takeaways

• Comprehensive analysis of the industrial coatings market trends and shares from 2020 to 2027 at global and regional level to identify growth opportunities and analyze market developments
• Exhaustive analysis of price trends with respect to resin type and region that are expected to impact the outlook of the global industrial coatings market
• Porters’ Five Forces analysis that highlights the bargaining power of buyers and suppliers to enable stakeholders to make profit-oriented business decisions
• Extensive market outlook of key geographic regions along with market drivers, inhibitors, current & future market trends, and emerging applications
• Comprehensive list of key potential clients across major end-use industries in different geographies
• Thorough import-export analysis  across the globe
• Regional level production output to comprehend the demand-supply scenario
• Competitive landscape covers key companies’ profiling, market share analysis, market footprint analysis, competitive business strategies, channels, and competition matrix for key players

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Industrial Coatings Market, By Product

7.1. Industrial Coatings Market, by Product Type, 2020-2027
7.1.1. Epoxy
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Acrylic
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Alkyd
7.1.3.1. Market Revenue and Forecast (2016-2027)
7.1.4. Polyurethane
7.1.4.1. Market Revenue and Forecast (2016-2027)
7.1.5. Polyester
7.1.5.1. Market Revenue and Forecast (2016-2027)
7.1.6. Others
7.1.6.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Industrial Coatings Market, By Technology

8.1. Industrial Coatings Market, by Technology, 2020-2027
8.1.1. Powder Based
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Solvent Borne
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Water-Borne
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Others
8.1.4.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Industrial Coatings Market, By End-user

9.1. Industrial Coatings Market, by End-user, 2020-2027
9.1.1. Electronics
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Aerospace
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. General Industrial
9.1.3.1. Market Revenue and Forecast (2016-2027)
9.1.4. Marine
9.1.4.1. Market Revenue and Forecast (2016-2027)
9.1.5. Mining
9.1.5.1. Market Revenue and Forecast (2016-2027)
9.1.6. Power Generation
9.1.6.1. Market Revenue and Forecast (2016-2027)
9.1.7. Automotive & Vehicle Refinish
9.1.7.1. Market Revenue and Forecast (2016-2027)
9.1.8. Oil & Gas
9.1.8.1. Market Revenue and Forecast (2016-2027)
9.1.9. Others
9.1.9.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Industrial Coatings Market, Regional Estimates and Trend Forecast

10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.2. Market Revenue and Forecast, by Technology (2016-2027)
10.1.3. Market Revenue and Forecast, by End-user (2016-2027)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.4.2. Market Revenue and Forecast, by Technology (2016-2027)
10.1.4.3. Market Revenue and Forecast, by End-user (2016-2027)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.1.5.2. Market Revenue and Forecast, by Technology (2016-2027)
10.1.5.3. Market Revenue and Forecast, by End-user (2016-2027)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.2. Market Revenue and Forecast, by Technology (2016-2027)
10.2.3. Market Revenue and Forecast, by End-user (2016-2027)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.4.2. Market Revenue and Forecast, by Technology (2016-2027)
10.2.4.3. Market Revenue and Forecast, by End-user (2016-2027)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.5.2. Market Revenue and Forecast, by Technology (2016-2027)
10.2.5.3. Market Revenue and Forecast, by End-user (2016-2027)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.6.2. Market Revenue and Forecast, by Technology (2016-2027)
10.2.6.3. Market Revenue and Forecast, by End-user (2016-2027)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.2.7.2. Market Revenue and Forecast, by Technology (2016-2027)
10.2.7.3. Market Revenue and Forecast, by End-user (2016-2027)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.2. Market Revenue and Forecast, by Technology (2016-2027)
10.3.3. Market Revenue and Forecast, by End-user (2016-2027)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.4.2. Market Revenue and Forecast, by Technology (2016-2027)
10.3.4.3. Market Revenue and Forecast, by End-user (2016-2027)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.5.2. Market Revenue and Forecast, by Technology (2016-2027)
10.3.5.3. Market Revenue and Forecast, by End-user (2016-2027)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.6.2. Market Revenue and Forecast, by Technology (2016-2027)
10.3.6.3. Market Revenue and Forecast, by End-user (2016-2027)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.3.7.2. Market Revenue and Forecast, by Technology (2016-2027)
10.3.7.3. Market Revenue and Forecast, by End-user (2016-2027)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.2. Market Revenue and Forecast, by Technology (2016-2027)
10.4.3. Market Revenue and Forecast, by End-user (2016-2027)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.4.2. Market Revenue and Forecast, by Technology (2016-2027)
10.4.4.3. Market Revenue and Forecast, by End-user (2016-2027)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.5.2. Market Revenue and Forecast, by Technology (2016-2027)
10.4.5.3. Market Revenue and Forecast, by End-user (2016-2027)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.6.2. Market Revenue and Forecast, by Technology (2016-2027)
10.4.6.3. Market Revenue and Forecast, by End-user (2016-2027)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, by Product (2016-2027)
10.4.7.2. Market Revenue and Forecast, by Technology (2016-2027)
10.4.7.3. Market Revenue and Forecast, by End-user (2016-2027)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.2. Market Revenue and Forecast, by Technology (2016-2027)
10.5.3. Market Revenue and Forecast, by End-user (2016-2027)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.4.2. Market Revenue and Forecast, by Technology (2016-2027)
10.5.4.3. Market Revenue and Forecast, by End-user (2016-2027)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, by Product (2016-2027)
10.5.5.2. Market Revenue and Forecast, by Technology (2016-2027)
10.5.5.3. Market Revenue and Forecast, by End-user (2016-2027)

Chapter 11. Company Profiles

11.1. Hempel A/S
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. PPG Industries, Inc.
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Akzo Nobel N.V.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Axalta Coating Systems, LLC
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. Jotun
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. The Sherwin-Williams Company
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Nippon Paint Holdings Co., Ltd.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Others
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research
12.2. Secondary Research
12.3.

Chapter 13. Appendix

13.1. About Us
13.2. Glossary of Terms

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