Dublin, June 18, 2019 (GLOBE NEWSWIRE) -- The "Industrial Coatings Market by Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology (Water, Solvent, High Solids, Powder), End-use Industry (Automotive, Aerospace, Marine, Wood, Packaging, Protective), & Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The industrial coatings market size was USD 89.5 billion in 2019 and is projected to reach USD 115.4 billion by 2024, at a CAGR of 5.2%, between 2019 and 2024.
Industrial coatings are thin films applied to steel, concrete, and other materials to enhance certain properties, such as corrosion resistance, wear resistance, and conductivity. These coatings are manufactured with common polymers, such as epoxy, polyurethane, acrylic, alkyd, polyester, and fluoropolymer. The industrial coatings market depends heavily on the performance of automotive, protective, aerospace, marine, wood, packaging, coil, rail, and general industrial equipment, among other end-use industries.
The growth of this market is attributed to the expanding oil & gas and automotive industries in developing countries. The major resin types that are used to manufacture industrial coatings are polyurethane, acrylic, epoxy, alkyd, polyester, fluoropolymer, and others (silicone, amino, polyurea, and polyolefin).
The industrial coatings market is segmented on the basis of technology as water based, solvent based, high solids, powder, and others (UV- and EB-cured). The global industrial coatings market is witnessing strong growth owing to its varied applications in several end-use industries, such as protective, packaging, coil, rail, aerospace, industrial wood, and general industrial. However, the growth of the automotive manufacturing industry is expected to remain stable over the next two years, reflecting expectations of constant demand in all key regions despite imminent challenges. Although the global automotive production grew by more than 2% in 2016-2017, major challenges that can affect production and sales in 2019, include trade and tariff disputes, rising interest rates, and higher fuel prices.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Industrial Coatings Market
4.2 Industrial Coatings Market, By Resin Type
4.3 Industrial Coatings Market, By Technology
4.4 Industrial Coatings Market, By End-Use Industry and Key Countries
4.5 Industrial Coatings Market, Developed vs. Developing Countries
4.6 APAC Industrial Coatings Market
4.7 Industrial Coatings Market, By Major Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Environmentally-Friendly Coatings
5.2.1.2 Need for Efficient Process and Durable Coatings With Better Aesthetics
5.2.1.3 Growing Demand From APAC
5.2.2 Restraints
5.2.2.1 Difficulty in Obtaining Thin Films in Powder Coatings
5.2.2.2 Requirement of More Drying Time for Water-Based Coatings
5.2.3 Opportunities
5.2.3.1 Attractive Prospects for Powder Coatings in Shipbuilding and Pipeline Sectors
5.2.3.2 Increasing Use of Nano-Coatings
5.2.3.3 Continuous Demand for Extended Product Lifetime and Reduced Maintenance
5.2.4 Challenges
5.2.4.1 Stringent Regulatory Policies
5.3 Porter's Five Forces Analysis
5.3.1 Threat of Substitutes
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
6 Industrial Coatings Market, By Resin Type
6.1 Introduction
6.2 Polyurethane
6.2.1 Demand for Polyurethane Resins in High-Performance Application is Boosting their Demand
6.3 Epoxy
6.3.1 Good Dimensional Stability Along With Excellent Electrical Conductivity is Boosting the Demand for Epoxy Resins
6.4 Acrylic
6.4.1 Outstanding Physical Properties are Expected To Drive the Demand for Acrylic Resins
6.5 Polyester
6.5.1 Ease of Handling and Low Cost of Polyester Resins are Driving their Demand
6.6 Alkyd
6.6.1 High Durability and Good Drying Characteristics are the Reasons for the Growth of Alkyd Resins
6.7 Fluoropolymer
6.7.1 Excellent Non-Stick, Reduced Friction, and Corrosion Resistance Properties are Fueling the Demand for Fluoropolymer Resins
6.8 Others
7 Industrial Coatings Market, By Technology
7.1 Introduction
7.2 Solvent Based
7.2.1 Outstanding Physical Properties are Expected To Drive the Demand for Solvent-Based Technology
7.3 Water Based
7.3.1 Low Toxicity and Flammability Due To Low VOC Levels are Increasing the Demand for Water-Based Industrial Coatings
7.4 Powder
7.4.1 Superior Performance and Excellent Properties of Powder Technology are Driving Its Demand
7.5 High Solids
7.5.1 Demand for High Solids Technology is Increasing Because of Its Low Emission of Voc
7.6 Others
8 Industrial Coatings Market, By End-Use Industry
8.1 Introduction
8.2 General Industrial
8.2.1 Everyday Uses of Powder-Coated Products To Fuel the Demand for General Industrial Equipment
8.3 Protective
8.3.1 APAC is Emerging as A Strategic Location for Protective Coating Manufacturers
8.4 Automotive Oem
8.4.1 Growing Demand for Electric Vehicles To Drive the Industrial Coatings Market
8.5 Industrial Wood
8.5.1 Increasing Construction and Infrastructure Activities To Drive the Industrial Wood Coatings Demand
8.6 Automotive Refinish
8.6.1 Increase in Vehicle Usage Along With Increasing Number of Accidents has Propelled the Demand for Automotive Refinish Coatings
8.7 Coil
8.7.1 Durability and Cost-Benefit Properties are Expected To Drive the Demand for Coil Coatings
8.8 Packaging
8.8.1 Improved Lifestyles and Changing Food Habits are Fueling the Demand for Packaging Coatings
8.9 Marine
8.9.1 Slow Growth of Shipbuilding Sector is Hampering the Demand for Marine Coatings
8.10 Aerospace
8.10.1 Development of Chrome-Free Coating Technology is Augmenting the Market Growth
8.11 Rail
8.11.1 Advances in High-Speed Train Industry are Boosting the Rail Coatings Market
9 Industrial Coatings Market, By Region
10 Competitive Landscape
10.1 Introduction
10.2 Competitive Leadership Mapping, 2018
10.3 Competitive Scenario
11 Company Profiles
11.1 Akzo Nobel N.V.
11.2 Axalta Coating Systems, LLC
11.3 Jotun A/S
11.4 PPG Industries Inc.
11.5 The Sherwin-Williams Company
11.6 Nippon Paint Holdings Co, Ltd.
11.7 Kansai Paint Co, Ltd.
11.8 RPM International Inc.
11.9 Tikkurila OYJ
11.10 Hempel A/S
11.11 Teknos Group
11.12 Noroo Paint & Coatings Co, Ltd.
11.13 Weilburger Coatings
11.14 The Chemours Company
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