Dublin, March 16, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, a leading global Material & Chemical research firm, that delivers data and analysis at the global, regional and country levels has published an Industrial Coatings Market report. The domain expert has analyzed the Industrial Coatings Market at a regional and global level. The total market opportunity for Industrial Coatings was USD 88.51 Bn in 2021 and is expected to grow at 3.9 percent CAGR through the forecast period to reach USD 120.21 Bn by 2029.
Industrial Coatings Market Report Scope and Research Methodology
| Market Size in 2021 | USD 88.51 Bn. |
| Market Size in 2029 | USD 120.21 Bn. |
| CAGR | 3.9 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 278 |
| No. of Tables | 116 |
| No. of Charts and Figures | 112 |
| Segment Covered | Resin, Type and End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The report provides deep insights into the Industrial Coatings Market, covering all the major aspects. The report includes market analysis at local, regional and global levels with all key players across the world along with their profiles and strategic perspective. To understand the underlying factors influencing the Industrial Coatings Market, the report focuses on the drivers, restraints, opportunities and challenges in the Industrial Coatings industry. The report aids new entrants to get a picture of future opportunities in the market.
For the competitive analysis, the list of key Industrial Coatings Market players with new entrants is included in the report. It also includes revenue, financial status, portfolio, technological advancements adopted, social media presence, fierce marketing strategies, mergers and acquisitions, joint ventures and strategic alliances. A detailed analysis provided in the report aids stakeholders, entrepreneurs, new entrants, investors, researchers, market players and followers for an easy comparison of various elements of the market, presenting future outlook with expected trends and risks in the Industrial Coatings Market.
The bottom-up approach has been used to estimate the global and regional Industrial Coatings Market size. The information for the report was gathered and analyzed by using both the research methodologies that are primary and secondary. The primary research method includes administering questionnaires, surveys and telephonic interviews with industry specialists, market leaders, entrepreneurs and marketing professionals. Secondary sources include official databases of various organizations and government sites, industry journals, white papers, annual or financial reports , releases of product manufacturers and suppliers, and paid or free databases. SWOT analysis was conducted to provide the strengths and weaknesses of the Industrial Coatings Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Industrial Coatings Market
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Industrial Coatings Market Overview
Industrial coatings offer a number of benefits such as high flexibility, block capacity, climate protection, waterproofing and resistance to pollution. As a result, the industrial walls are used to protect floors, walls and roofs against the strong wind, excessive rain and snowfall. The growth of the automotive industry is expected to drive the industrial coatings market growth over the forecast period.
Industrial Coatings Market Dynamics
Industrial coatings is majorly used on lightweight vehicles (LCVs) and passenger cars. During the forecast period, the increasing automotive production and sales are expected to create lucrative opportunities for the industrial coatings market. The industrial coatings market is also witnessing growth by the increasing demand for eco-friendly coatings. The availability of substitutes in the market and fluctuation in the cost of raw materials are expected to hamper the growth of the industrial coatings market during the forecast period.
Industrial Coatings Market Regional Insights
During the forecast period, the Asia Pacific region is expected to dominate the global Industrial Coatings Market with a CAGR of 3.9 percent. The regional market is expected to hold the largest market share in the future. Developing countries such as China, Japan and India are the major contributors to the regional Industrial Coatings Market growth due to the low production costs and high domestic demand.
The global Industrial Coatings Market in the Europe region is also expected to grow at a high rate due to the increasing product demand from various end-use industries.
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Industrial Coatings Market Segmentation
By Resin
- Polyurethane
- Fluoropolymers
- Polyester
- Acrylic
- Alkyd
- Epoxy
- Others
The Acrylic resin segment is expected to hold the largest Industrial Coatings Market share of 38 percent by the end of the forecast period. This market growth is expected due to its wide utilization and acceptance in structural steel, industrial site, construction equipment, pipes, heavy casting, metal coating, consumer appliances, automotive and other applications.
By Type
- High Solids
- Solvent
- Powder
- Water
The Powder type segment is expected to grow rapidly at a high CAGR during the forecast period. The powder-type coating is a dry finishing procedure that includes electrostatically charging finely ground pigment, resin particles and spraying them onto electrically grounded components.
By End-Users
- Automotive OEM
- General Industrial
- Construction
- Marine
- Aerospace
- Wood
- Packaging
- Others
The Automotive OEM segment is expected to grow at a high CAGR during the forecast period. This growth of the segment is because industrial coatings help automobiles protect against scratches, chemicals and the environment.
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Industrial Coatings Market Key Competitors include:
- The Sherwin-Williams Company
- Weilburger Coatings GmbH
- Axalta Coating Systems, LLC
- Nippon Paint Holdings Co., Ltd
- Noroo Paint & Coatings Co., Ltd
- RPM International Inc
- PPG Industries, Inc.
- Akzo Nobel N.V.
- Hempel A/S
- Kansai Paint Co. Ltd
- Teknos Group
- Tikkurila OYJ
- BASF SE
- Valspar
- Jotun
- The Chemours Company
- KCC Corporation
Key questions answered in the Industrial Coatings Market are:
- What is industrial coating?
- What are the global trends in the Industrial Coatings Market?
- What are the upcoming industry applications and trends for the Industrial Coatings Market?
- What is the expected demand for different types of products in the Industrial Coatings Market during the forecast period?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Industrial Coatings Market?
- How is the intervention from regulatory authority is shaping the Industrial Coatings Market?
- Who are the leading companies and what are their portfolios in Industrial Coatings Market?
- What are the major challenges that the Industrial Coatings Market could face in the future?
- Who held the largest market share in Industrial Coatings Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Resin, Type, End-Users and Region
- Competitive Landscape – Profiles of selected key players by region in a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Material & Chemical research firm, has also published the following reports:
Industrial Liquid Coatings Market - The market size is expected to reach USD 82.82 billion by 2029 at a CAGR of 6.2 percent during the forecast period. The market is expected to be driven by the increasing demand for liquid coating due to the increasing preference for it compared to powder coating.
Electrical Appliance Coatings Market - The market size is expected to reach USD 11.28 billion by 2029 at a CAGR of 6.32 percent during the forecast period. The market is expected to be driven by increasing product efficiency due to research activities.
Stain Resistant Coatings Market - The market size is expected to reach USD 5.51 billion by 2029 at a CAGR of 6.10 percent during the forecast period. The market is expected to be driven by the increasing use of it in a wide range of industrial applications because of its properties such as energy efficiency and low maintenance costs.
Thin Film Coatings Market - The market size is expected to reach USD 30.54 billion by 2029 at a CAGR of 8.8 percent during the forecast period. The market is expected to be driven by the increasing application of thin-film coatings in the automotive industry.
Asphalt Roof Coatings Market - The market size is expected to reach USD 2361 million by 2029 at a CAGR of 4.83 percent during the forecast period. The market is expected to be driven by the growing construction and building industry with increasing demand for high-quality coating materials for asphalt roofs.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
