Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Industrial Coatings Market Outlook

The global industrial coatings market size is expected to grow at a CAGR of 3.30% between 2024 and 2032. The major drivers aiding the growth of the market include increasing infrastructure development activities, rapid industrialisation, and expansion of automotive manufacturing.

Key Trends in the Market

An industrial coating refers to the layer of substance applied on a surface to provide it with prevention against corrosion, protection from chemicals, resistance from abrasion, and non-stickiness, in industrial applications. Industrial coatings are applied on the equipment either with the help of a brush and spray or by dipping the components directly into the coating.

Global Industrial Coatings Market

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  • The automotive industry has a high demand for industrial coatings which is anticipated to contribute towards the growth of the industrial coatings market. Repair and  maintenance of vehicles as well as provision of protection against future damages can be done with the aid of industrial coatings, thus increasing their utilisation.
  • Another crucial trend propelling the growth of the market for industrial coatings includes their ability to provide protection and resilient barriers in marine applications. Use of industrial coatings application helps in maintaining the condition of marine vessels, increasing their safety and reliability, thus boosting the industrial coatings market growth.
  • The growing oil and gas sector is surging the demand for industrial coatings that offer heat-resistance as well as robust abrasion resistance. These features aid in extending the life of various oil and gas components, particularly those used in offshore oil and gas operations, further bolstering the demand for industrial coatings.

Market Analysis

Based on resin, the market is divided into polyurethane, epoxy, acrylic, and polyester, among others. On the basis of technology, the market is segmented into water-borne coatings, solvent-borne coatings, and powder based, among others. Based on end use, the market is categorised into oil and gas, mining, power, infrastructure, marine, and automotive, among other users. By region, the market is segregated into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Industrial Coatings Market

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global industrial coatings market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

  • Akzo Nobel NV
  • Jotun A/S
  • PPG Industries, Inc.
  • he Sherwin-Williams Company
  • Axalta Coating Systems
  • Others

Industrial Coatings Market Share by Technology

Solvent-borne coatings account for a significant share of the industrial coatings market owing to their better functionality in humid and open conditions and are expected to generate similar results over the forecast period. Moreover, solvent-borne coatings are premium quality paints providing strength and durability that aid in protecting machines from oil, moisture, salt, and abrasion. They are widely employed in industrial applications and in domains such as marine, oil and gas, and automotive. Advantages such as enhanced functionality and lowered drying time in open and humid conditions are further expected to fuel the popularity of solvent-based coatings in the upcoming years.

Industrial Coatings Market Share by Region

Asia Pacific holds a sizable share of the industrial coatings market due to rapid increase in industrialisation which has led to great opportunities for the key players to develop more products for various sectors. With increase in industrialisation, the demand for the industrial coatings has increased, especially from the automotive industry. In the automotive industry, industrial coatings are used as they provide ecological and economic benefits, furthermore, they provide reduced friction and high-quality hardening to automotive components.

Global Industrial Coatings Market

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Competitive Landscape

Akzo Nobel NV is a Dutch chemical manufacturing company that was established in 1994 and is headquartered in Amsterdam in the Netherlands. The company manufactures specialty chemicals along with paints, performance coatings, and polymers, among other chemical products, both for individual customers and industries.

Jotun A/S, founded in 1926 and headquartered in Sandefjord, Norway, is a chemical manufacturing company which manufactures paint and coating products including coatings for protection and marine. The company is involved in the marketing of performance coatings and decorative paints, working to create the best quality with constant creativity and innovation.

PPG Industries, Inc. was established in 1883 and has its headquarters in Pennsylvania in the United States. A chemical manufacturing company, PPG manufactures and supplies paints, specialty materials, and coatings across the globe. Other products manufactured and supplied by them include protective and marine coatings, industrial coatings, automotive OEM coatings, and packaging coatings.

Other market players include The Sherwin-Williams Company, and Axalta Coating Systems, among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Resin
  • Technology
  • End Use
  • Region
Breakup by Resin
  • Polyurethane
  • Epoxy
  • Acrylic
  • Polyester
  • Others
Breakup by Technology
  • Water-Borne Coatings
  • Solvent-Borne Coatings
  • Powder Based
  • Others
Breakup by End Use
  • Oil and Gas
  • Mining
  • Power
  • Infrastructure
  • Marine
  • Automotive
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Akzo Nobel NV
  • Jotun A/S
  • PPG Industries, Inc.
  • The Sherwin-Williams Company
  • Axalta Coating Systems
  • Others

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Industrial Coatings Market Report Snapshots

Industrial Coatings Market Size

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Industrial Coatings Market Regional Analysis

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market is expected to grow at a CAGR of 3.30% between 2024 and 2032.

The market drivers include increasing infrastructural development activities, rapid industrialisation, and growth of automotive manufacturing.

The key trends of the market are rise in disposable incomes, increasing demand from the oil and gas sector, rising usage in marine applications, and technological advancements.

The various resins in the market for industrial coatings are polyurethane, epoxy, acrylic, and polyester, among others.

The primary technologies for industrial coatings are water-borne coatings, solvent-borne coatings, and powder based, among others.

The significant end uses of industrial coatings in the market are oil and gas, mining, power, infrastructure, marine, and automotive, among other users.

The major regions of the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The key players in the global industrial coatings market are Akzo Nobel NV, Jotun A/S, PPG Industries, Inc., The Sherwin-Williams Company, and Axalta Coating Systems, among others.

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