Predicting the Future of Industrial Coatings
Industrial Coatings Market is valued at USD 91.85 Billion in 2018 and expected to reach USD 134.50 Billion by 2025 with the CAGR of 5.6% over the forecast period.
Growing construction industry along with development of automotive, coil, wood, aerospace, railing and packaging coatings in emerging economies is key impacting factors deriving the growth of the global industrial coatings market.
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Industrial coating is a paint or coating which used to protect walls, floors, and roofs against heavy rainfall, strong wind, and snowfall. The most common use of commercial coatings is for corrosion control of steel or concrete. The most common application for these coating products is to stop corrosion of steel and concrete. Another primary used coating is to make the material less susceptible to fire or other hazards. Industrial coatings offer several benefits such as waterproofing & weatherproofing, crack-bridging ability, high flexibility, resistance to dirt, mildew, and chemicals. Industrial coatings are specially engineered products for protection against corrosion, wear-resistance and provide better aesthetics. It is a skinny film applied to varied concrete, steel, and other industrial materials. These films are used with polymers such as acrylic, polyurethane, epoxy, alkyds and polyester.
Key Players Industrial Coatings-
Industrial coatings market report covers prominent players are The Chemours Company, The Sherwin-Williams Company, Axalta Coating Systems, Jotun A/S, Nippon Paint Holdings Co., Ltd. , NOROO Paint & Coatings Co Ltd, Akzo Nobel N.V. ,PPG Industries, Inc. RPM International Inc., Kansai Paint Co., Ltd. Tikkurila OYJ, Hempel A/S , Teknos Group , WEILBURGER Coatings GmbH and Others.
Industrial coatings market report is segmented on the basis of resin, technology, end-use industry and by regional & country level. Based upon resin, industrial coatings market is classified into polyurethane, epoxy, acrylic, polyester, and alkyd. Based upon technology, industrial coatings market is classified into solvent, water, powder, and high solids. Based upon end use industry, industrial coatings market is classified into industrial, protective, automotive, aerospace, marine, wood and packaging.
The regions covered in this industrial coatings market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of industrial coatings is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Hempel launched new coating solution for heavy duty equipment and truck OEMs
News: May 15, 2019 – worldwide coatings manufacturer Hempel launched a new epoxy primer for heavy duty equipment and trucks - Hempaprime Shield 700 HS. This new coating is specifically designed to improve productivity and quality for original equipment manufacturers (OEMs) by reducing production times and maximizing service life. It is specifically designed to optimize production. This robust coating provides improved crack and wrinkle resistance even at a high dry film thickness (DFT) and dries to a smooth finish without the need for sanding.
Industrial Coatings Market Dynamics –
Growing construction industry with the automotive, general industrial, coil, wood, aerospace, railing and packaging coatings in emerging economies is key impacting factors deriving the growth of the global industrial coatings market. Industrial coatings are used to protect walls, floors, and roofs against heavy rainfall, strong wind and snowfall due to these properties the demand will increase. According to the FMI, 2% increases (USD44 billion) in U.S. healthcare construction spending in 2019. Moreover, rise in investment in the global construction sector, rapid urbanization and rise in infrastructure spending; these factors will increases the market growth in forecast period. According to the Our World in Data, more than 4 billion people live in urban areas across the globe. However, high cost with limited resources of raw materials and stringent government rule & regulation by using chemicals in coatings will hamper the development of industrial coatings market. However, innovative technology in industrial sectors and the increasing investment in research and development are expected to boost the opportunity for the growth of industrial coatings market.
Industrial Coatings Market Segmentation –
By Resin:-
Polyurethane, Epoxy, Acrylic, Polyester, Alkyd
By Technology:-
Solvent, Water, Powder, High Solids
By End-Use Industry:-
Industrial, Protective, Automotive, Aerospace, Marine, Wood, Packaging
Industrial Coatings Market Regional Analysis –
North America is dominating the industrial coatings market due to rising awareness among the people about advanced development in coatings like low polluting coating technologies, rapid economic recovery, growth in urbanization and increase in government efforts to enhance industrial infrastructure. According to The American Coatings Association (ACA), there were over 46,900 paint and coatings establishments in the United States in 2016. As per ACA, The U.S. paint and coatings industry exports to Canada (USD1.3 billion) and Mexico (USD588 million) totaled USD1.6 billion combined in 2017.
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