The industrial coatings market is propelled by the growing need for protective and decorative coatings in construction, automotive, and infrastructure industries. Increased adoption of eco-friendly, low-VOC coatings is driven by stringent environmental regulations. Advancements in coating technologies, such as nanotechnology and self-healing coatings, are enhancing performance and durability. Infrastructure development in emerging economies is creating opportunities, while industries such as renewable energy and electronics are exploring new applications for industrial coatings, boosting the market further.
According to the research report published by Polaris Market Research, the global industrial coatings market was valued at USD 97.33 billion in 2021 and is expected to reach USD 127.13 billion by 2030, to grow at a CAGR of 3.1% during the forecast period.
Key Market Trends:
Industrial Coatings
- Increasing demand for durable and corrosion-resistant coatings in automotive and construction industries.
- Rising adoption of eco-friendly, low-VOC, and water-based coatings due to environmental regulations.
- Advancements in nanotechnology for improved coating performance and durability.
- Growth in infrastructure development and urbanization driving demand for protective coatings.
- Expanding applications in emerging industries like renewable energy and electronics.
Key Companies in Industrial Coatings Market:
- Akzo Nobel N.V.
- Asian Paints Ltd
- Axalta Coating Systems
- LLC
- BASF SE
- Beckers Group
- Hempel A/S
- Henkel AG & Company
- KGaA
- Jotun A/S
- Kansai Paint Co. Ltd.
- Nippon Paint Holdings Co. Ltd.
- PPG Industries Inc.
- RPM International Inc.
- Teknos Group Oy
- The Chemours Company
- The Sherwin-Williams Company
Growth Factors:
• Market dynamics:All the key factors and major developments anticipated to boost the growth of the market are covered in the study.
• Technological evolution:The report offers a thorough understanding of the emerging technologies that can influence the Industrial Coatings market demand.
• Innovation pathways: The study covers where innovations can take the market in the mid to long term.
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The Geographical Analysis Covers Following Key Regions:
• North America (United States, Canada, and Mexico)
• Europe (Germany, France, United Kingdom, Russia, Italy, and the Rest of Europe)
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
• South America (Brazil, Argentina, Colombia, and the rest of South America)
• The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, South Africa, and the Rest of the Middle East and Africa)
Industrial Coatings Market Segmentation:
Industrial coatings are segmented by resin type, technology, and end-use. Resin types include acrylic, epoxy, polyurethane, and alkyd, with epoxy leading for corrosion resistance. Technologies encompass water-based, solvent-based, powder, and UV-cured coatings, with water-based coatings gaining traction due to environmental concerns. End-use industries include automotive, construction, marine, and aerospace, where construction and automotive dominate. Asia-Pacific leads the market due to industrial growth and infrastructure development.
Industrial Coatings Market, Resin Outlook (Revenue – USD Billion, 2018 – 2030)
- Epoxy
- Acrylic
- Alkyd
- Polyester
- Polyurethane
- Fluoropolymer
- Others
Industrial Coatings Market, Technology Outlook (Revenue – USD Billion, 2018 – 2030)
- Solvent borne
- Water borne
- Powder based
- Others
Industrial Coatings Market, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- General Industry
- Automotive
- Aerospace
- Power Generation
- Oil and Gas
- Mining
- Others
Industrial Coatings Industry Developments:
In July 2022, IGL Coatings launched Eco Coat Armor, a versatile coating designed for maintenance and surface longevity. This durable solution offers high flexibility, impact resistance, and chemical resistance, providing protection against chemicals, corrosion, and harsh environments.
In December 2021, Axalta introduced the Imron Industrial Ultra 2.8 VOC Topcoat for agriculture, construction, and earthmoving equipment (ACE) applications. These coatings feature faster curing times, reduced VOC emissions, and superior weather resistance.
In July 2020, Nippon Paint India unveiled a new range of industrial paints under the Protec brand, offering primers, topcoats, and specialized coatings. Designed for industrial protection and maintenance, these products are built to withstand extreme weather and chemical conditions. The launch of this range strengthened the company’s presence in the industrial coatings segment.
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