Vancouver, British Columbia, March 16, 2021 (GLOBE NEWSWIRE) -- The global industrial maintenance coatings market is anticipated to reach value of USD 5.23 Billion by 2027, according to a current analysis by Emergen Research. Industrial maintenance coatings are used for protection of a variety of large structures ranging from process tanks in the oil & gas industry to infrastructures such as water tanks and bridges.
Industrial maintenance coatings are used to control corrosion and substrate deterioration associated with wastewater and water treatment, refining, and other activities. Sustainability is becoming a major concern, due to changes in the regulatory requirement and expectations of end-users. Rising need for better and efficient coatings with improved aesthetics is promoting growth of the market. Moreover, increase in the demand for eco-friendly coatings and high demand for industrial maintenance coatings in developing countries are factors impacting the market positively.
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Nanocoatings offer weather resistance to protect coated surfaces from being degraded. The development of nanocoatings is driving the market for industrial maintenance coatings. Nanocoatings has high-temperature resistance, UV-stability, waterproofness, and corrosion resistance. They offer a sustainable protective coating and enable easy cleaning. They are used in aerospace, automotive, food & beverage, electronics, and marine industries.
Key Highlights of Report
- Powder-based coatings provide low VOC emissions, offering superior performance and cost efficiency in applications that need maximum abrasion resistance. They are highly efficient, with 98% powder overspray recoverability. They are preferred also because they release almost no VOC emissions.
- Epoxy coatings offer optimum protection against turbulence, abrasion, extreme temperatures, and corrosive fluids. They are not only durable, but also resistant to corrosion. Epoxy coatings is one the top choices of various industries, including metal, steel, and concrete.
- The energy and power end-use industry segment held a significant market share in 2019, as the industry uses industrial maintenance coatings as protective coatings on the surface of materials to protect them from light, chemicals, oil, water, high-temperature fluctuations. This, in turn, drives the market for industrial maintenance coatings.
- Europe held the second-largest share of the global industrial maintenance coatings market in 2019. The region is heavily regulated by laws regarding the environment and the government is also focused on providing protection for human health as well as the environment from harmful coatings. This is, propelling the demand for industrial maintenance coatings in the region during the forecast period.
- Key market participants include Jotun A/S, Akzo Nobel N.V., The Sherwin-Williams Company, PPG Industries Inc., Kansai Paint Co., Ltd., Nippon Paint Holdings Co., Ltd., Tikkurila OYJ, RPM International Inc., Hempel A/S, and Axalta Coating Systems, LLC
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For the purpose of this report, Emergen Research has segmented the global industrial maintenance coatings market based on technology, resin type, end-use industry, and region as follows:
- Technology Outlook (Revenue, USD Billion; 2017–2027)
- Water-based
- Solvent-based
- Powder
- 100% Solids
- Others (UV- and EB-cured Technology)
- Resin Type Outlook (Revenue, USD Billion; 2017–2027)
- Polyurethane
- Epoxy
- Acrylic
- Alkyd
- Others
- End-use Industry Outlook (Revenue, USD Billion; 2017–2027)
- Energy & Power
- Transportation
- Metal Processing
- Construction
- Chemical
- Others
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- Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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