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Global Industrial Coatings Market Size, Share, Growth, Forecast: By Resin: Polyurethane, Epoxy, Acrylic, Polyester, Others: By Technology: Water-Borne Coatings, Solvent-Borne Coatings, Powder Based, Others; By End Use: Oil and Gas, Mining, Power, Infrastructure, Marine, Automotive, Others; Regional Analysis; Competitive Landscape; 2024-2032
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.
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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.
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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
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.
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.
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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:
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| Breakup by Resin |
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| Breakup by Technology |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Industrial Coatings Market Analysis
8.1 Key Industry Highlights
8.2 Global Industrial Coatings Historical Market (2018-2023)
8.3 Global Industrial Coatings Market Forecast (2024-2032)
8.4 Global Industrial Coatings Market by Resin
8.4.1 Polyurethane
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Epoxy
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Acrylic
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Polyester
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Others
8.5 Global Industrial Coatings Market by Technology
8.5.1 Water-Borne Coatings
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Solvent-Borne Coatings
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Powder Based
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Industrial Coatings Market by End Use
8.6.1 Oil and Gas
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Mining
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Power
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Infrastructure
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Marine
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
8.6.6 Automotive
8.6.6.1 Market Share
8.6.6.2 Historical Trend (2018-2023)
8.6.6.3 Forecast Trend (2024-2032)
8.6.7 Others
8.7 Global Industrial Coatings Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2023)
9.5.2 Forecast Trend (2024-2032)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Akzo Nobel NV
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Jotun A/S
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 PPG Industries, Inc.
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 The Sherwin-Williams Company
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Axalta Coating Systems
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Industrial Coatings Market: Key Industry Highlights, 2018 and 2022
2. Global Industrial Coatings Historical Market: Breakup by Resin (USD Million), 2018-2023
3. Global Industrial Coatings Market Forecast: Breakup by Resin (USD Million), 2024-2032
4. Global Industrial Coatings Historical Market: Breakup by Technology (USD Million), 2018-2023
5. Global Industrial Coatings Market Forecast: Breakup by Technology (USD Million), 2024-2032
6. Global Industrial Coatings Historical Market: Breakup by End Use (USD Million), 2018-2023
7. Global Industrial Coatings Market Forecast: Breakup by End Use (USD Million), 2024-2032
8. Global Industrial Coatings Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Industrial Coatings Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Industrial Coatings Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Industrial Coatings Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Industrial Coatings Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Industrial Coatings Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Industrial Coatings Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Industrial Coatings Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Industrial Coatings Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Industrial Coatings Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Industrial Coatings Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Industrial Coatings Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Industrial Coatings Market Structure
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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