Industrial Coatings Market Overview:
Industrial Coatings Market was valued to be USD 24.2 Bn in 2018 and is expected to reach USD 31.4 Bn by the end of 2025, growing at the CAGR of 3.9 % from 2018 to 2025.
Industrial Coatings are gaining importance in the market owing to high exposure of metals to wear and tear along with continual degradation. These coatings are used across various industries like marine, aerospace, automotive and wood application. Rising demand of industrial coatings with enhanced lifespan, and improved corrosion resistance is expected to fuel the market growth.
Industrial Coatings Market Key Players:
The key players of Global Industrial Coatings Market are;
- AkzoNobel N.V,
- BASF SE,
- PPG Industries Inc.,
- Sherwin-Williams Co. Ltd,
- DuPont Co,
- NOROO Paints & Coatings,
- Asian Paints,
- Burke Industrial Coatings,
- Industrial Nanotech, Inc. and others.
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Industrial Coatings Market Segments:
Industrial Coatings are segmented on basis of application such as automotive OEMs, marine coatings, protective & maintenance coatings, coil coatings, packaging coatings, wood coatings and others. The prominent application of industrial coating is in automotive OEMs due to development of the aerospace industry and increasing in demand for safety requirement that is followed in this industry. Other application like marine coatings possess properties like anti-corrosive and anti-fouling which are highly used in manufacturing vessels in cargo ships. Protective & maintenance coatings is used for steel bridges, oil rigs & equipment’s and in petroleum products for protecting from corrosion and wear & tear.
Industrial Coatings Market Regional Analysis:
Asia Pacific accounts for largest share of global industrial coatings market. China being a largest producer of paints & coatings demand for industrial coatings on a large scale. Rapid industrializations, favorable government regulations and increase in consumer spending will significantly grow the industrial coatings market in emerging economies such as China, India and Japan. This market in North America is witnessing a constant growth due to stable marine activities, currency fluctuations as a result of uncertainties and lowering price of oil crude. Government of counties like Indonesia, Thailand and Malaysia are increase trade which is supporting industries through tax subsidies, regulations and incentives.
Industrial Coatings Market Table of Content to be Continue……,
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