WASHINGTON, Dec. 28, 2021 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the global industrial coatings market finds that demand for environmentally-friendly coatings is expediting market growth. Primarily driven by global need for efficient process and durable coatings with better aesthetics, the total global industrial coatings market is estimated to reach USD 115.69 billion by 2028, up from USD 85.19 billion in 2020, at a compound annual growth rate (CAGR) of 3.9%.
Furthermore, the attractive prospects for powder coatings in shipbuilding and pipeline sectors is anticipated to augment the growth of the global industrial coatings market, states Vantage Market Research, in a report, titled “Industrial Coatings Market Size, Share & COVID-19 Impact Analysis, By Resin Type (Polyurethane, Epoxy, Acrylic, Polyester, Alkyd, Fluoropolymer, and Others), By Technology (Solvent-based, Water-based, Powder, High Solids, and Others), By End-Use Industry (General Industrial, Protective, Automotive OEM, Automotive Refinish, Industrial Wood, Coil, Packaging, Marine, Aerospace, and Rail), and by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).”
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- In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.
- Impact Analysis 170+ Pages Research Report (Including latest research)
- Provide chapter-wise guidance on request 2020 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.
- Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using VMR research methodology.
(Please note that the sample of this report has been updated to include the COVID-19 impact study prior to delivery.)
Market Dynamics:
Increasing Demand for Environmentally-Friendly Coatings to Augment Industrial Coatings Market
The notion of sustainability within the global coatings industry has changed since the adoption of greener solutions decades ago. The concept of sustainability aspects are been considered often on a daily basis while performing most business operations within various business sectors. The emphasis has now been shifted towards waste reduction, energy and resource conservation, use of renewable materials, and process efficiency enhancement from just reducing volatile organic compounds (VOCs). Most of the key players in the industry are also looking forward to make changes to their entire value chain by considering the general impacts of their actions. Furthermore, due to the awareness and realization of their environmental impact, currently industrial units are taking various steps in order to diminish their carbon footprint. This is attributable to the increasing demand for sustainable solutions by consumers as well as central and state government regulations. For instance, Solvay has been continuously focussing on introducing eco-friendly coatings. Solvay’s line of coating solutions was developed for the formulation of a wide range of products: waterborne architectural paints, industrial direct-to-metal coatings, adhesives and printing inks. For binder performance improvement, the Group’s Sipomer line of specialty monomers, uniquely combined with surfactants, delivers new functionalities and achieves improved durability, sustainability, and adhesion and corrosion resistance.
Attractive Prospects for Powder Coatings in Various Industrial Sectors to Support the Global Industrial Coatings Market
Powder coatings are broadly used in various industrial sectors that include marine, automotive & vehicle refinish, electronics, aerospace, oil & gas, power generation, and other industries. The use of powder coatings results in insignificant emission of VOC in the atmosphere and also reduces the combustion risk during application and storage. Additionally, the powder coatings when in contact with human skin can be easily sweep away reducing the health threats for operators. Furthermore, as the automotive industry is projected to increase with increase in manufacturing and sales of autonomous and electric vehicles in 2020, the powder coating industry is also expected to grow. Powder coating is used for coating various automotive parts such as engines, filters, chassis, joysticks, wheels, mirrors, wipers, and other important vehicle parts. Powder coatings are further widely used in oil and gas industries as it involves various production stages and equipment in order to protect the pipelines, drills, pumps, valves and other field equipment from extreme weather conditions. Thus, these coatings are proven to be durable and corrosion-free providing high-quality aesthetics and are creating growth opportunities for the industrial coatings market.
Important questions answered in this report:
- What is the estimated market size and growth rate of the Industrial Coatings Market?
- Which segments are included in the Industrial Coatings Market?
- Which top companies are active in the Industrial Coatings Market?
- What are the major driving factors for the growth of the Industrial Coatings Market?
- How can I get free sample reports or study of Industrial Coatings Market?
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the coatings industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Industrial Coatings Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Asia Pacific Dominates the Global Industrial Coatings Market
Asia Pacific is predicted to be prominent region in the global industrial coatings market during the forecast period. This is owing to the increasing demand from the furniture, appliances, and automotive industries in the region. Furthermore, high production of vehicles and increasing penetration of Japanese carmakers has also led to the regional growth of the market.
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Advantages of this Research:
- Evaluate market share for commercial Industrial Coatings market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.
- Develop tactics and strategies to take advantage of opportunities in the Industrial Coatings market.
- Latest Trends and Market Events and analyze essential events in Industrial Coatings market.
- Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.
- Answer vital business questions; supports decision making in R&D to long term marketing strategies
- Develop economic models, forecast models, and healthcare frameworks.
North America and Europe are also likely to witness substantial growth in the Industrial Coatings Market during the forecast period. This is attributable to the high export of electronics products and sustainable and quality products in the regions like UK and Mexico. Additionally, the increasing adoption of innovative technologies in the region is also expected to support the growth of the industrial coatings market in near future.
List Of Prominent Players in the Industrial Coatings Market:
| Sr. No. | Companies | Headquarters |
| 1. | PPG Industries, Inc. | Pennsylvania, United States |
| 2. | Akzo Nobel N.V. | Amsterdam, Netherlands |
| 3. | Axalta Coating Systems | Pennsylvania, United States |
| 4. | The Sherwin-Williams Company | Ohio, United States |
| 5. | Nippon Paint Holdings Co., Ltd. | Osaka, Japan |
| 6. | Henkel AG & Company, KGaA | Düsseldorf, Germany |
| 7. | BASF SE | Ludwigshafen, Germany |
| 8. | Jotun | Sandefjord, Norway |
Browse market data Tables and Figures spread through Pages and in-depth TOC on Industrial Coatings Market by Resin Type (Polyurethane, Epoxy, Acrylic, Polyester, Alkyd, Fluoropolymer, Others), by Technology (Solvent-based, Water-based, Powder, High Solids, Others), by End-User Industry (General Industrial, Protective, Automotive OEM, Automotive Refinish, Industrial Wood, Coil, Packaging, Marine, Aerospace, Rail), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Table of Content here - https://www.vantagemarketresearch.com/press-release/industrial-coatings-market-452754
Recent Developments in the Industry:
1. September, 2021: PPG announced the launch of a new online powder e-commerce website to provide powder coating job shops, metal fabricators, metal manufacturers and others in the U.S. with quick and easy access to small batches of the company’s powder coatings.
2. September, 2021: Axalta Coating Systems announced that it has successfully completed the previously announced acquisition of U-POL Holdings Limited (“U-POL”). The acquisition of U-POL strengthens Axalta’s global refinish leadership position and supports its broader growth strategy.
This market titled “Industrial Coatings Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size 2020 Value | USD 85.19 Billion |
| Market Forecast for 2028 | USD 115.69 Billion |
| Expected CAGR Growth | CAGR of 3.9% from 2021 to 2028 |
| Base Year | 2020 |
| Historic Years | 2016 – 2019 |
| Forecast Years | 2021 – 2028 |
| Segments Covered | Resin Type: - Polyurethane, Epoxy, Acrylic, Polyester, Alkyd, Fluoropolymer, and Others Technology: - Solvent-based, Water-based, Powder, High Solids, and Others End-Use Industry: - General Industrial, Protective, Automotive OEM, Automotive Refinish, Industrial Wood, Coil, Packaging, Marine, Aerospace, and Rail |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2021 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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