Westford, USA, July 17, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global Industrial Coatings Market will attain a value of USD 133.59 billion by 2031, with a CAGR of 3.8% during the forecast period (2024-2031). Industrial coatings are protective coatings applied to a variety of surfaces, such as steel, concrete, wood, etc., to provide resistance to corrosion, abrasion, and chemicals. They were used to treat materials this coating has applications in many other end-use industries, including automotive, aviation, construction, and marine applications. Industrial coatings come in a variety of forms, including liquid, powder, and pretreatment coatings. It can be applied using a variety of methods including spray, dip and roll coating. In addition, advances in technology have led to the development of environmentally friendly and sustainable coatings. The demand for high-performance coatings with superior properties such as durability, weather resistance and UV protection is increasing, driving the global industrial coatings market.
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Browse in-depth TOC on " Industrial Coatings Market "
- Pages – 202
- Tables - 59
- Figures – 75
Industrial Coatings Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 99.13 billion |
| Estimated Value by 2031 | USD 133.59 billion |
| Growth Rate | Poised to grow at a CAGR of 3.8% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type and End-User |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growing Trend of Adopting Sustainable Coating Solutions |
| Key Market Drivers | Growing Demand from End-use Industries |
Polyurethane Coatings Segment to Dominate Due to Increasing Demand for High-performance Coatings
Polyurethane coatings dominate the industrial coatings market due to superior properties such as good adhesion, abrasion resistance, durability and flexibility. They are widely used in the automotive, aerospace, marine and construction industries. Polyurethane coatings are expected to continue to dominate the market owing to increasing demand for high-performance coatings with excellent protection against harsh.
Aerospace Coatings Segment to Drive Market Due to Increasing Demand for Lighter and More Fuel-efficient Aircraft
Aerospace coatings are the fastest growing segment due to the demand for lighter and more fuel-efficient aircraft. Windscreen is important for aircraft as it protects the exterior from harsh environmental factors such as altitude, temperature changes and UV rays. Besides, windshield also contributes to the aircraft’s aerodynamic efficiency. Growing demand for air travel and increased focus on reducing carbon footprint is expected to fuel the market growth.
North America is Dominating Due to High Demand for Durable Coatings
The North America region in the industrial coatings market is characterized by the presence of a very popular industrial segment, high demand for durable coatings, and stringent government regulations coatings that are environmentally friendly. The automotive, aerospace and construction industries are the end users of industrial coatings in this region. In addition, demand for liquid coatings and powder coatings is also driving global growth in North America.
China, India, Japan, South Korea and Australia are the major contributing countries driving the growth of industrial coatings market in APAC due to rapidly developing technologies. The end users of industrial coatings in this region are the automotive, aerospace and construction industries. Increasing population, increasing disposable income and increasing urbanization are driving the industrial coatings market in APAC
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Drivers
- Rising Disposable Incomes of people worldwide
- Increased Propensity to Spend Extravagantly
Restraints
- Stringent Regulations by Governments
- High Cost of Advanced Coatings
Prominent Players in Industrial Coatings Market
The following are the Top Industrial Coatings Companies
- RPM International Inc.
- Hempel A/S
- Nippon Paint Holdings Co. Ltd.
- Kansai Paint Co. Ltd.
- Asian Paints Ltd.
- Beckers Group
- KCC Corporation
- Valspar Corporation
- Berger Paints India Ltd.
- Teknos Group Oy
- Tikkurila Oyj
- Noroo Paint & Coatings Co. Ltd.
- Diamond Vogel Paints
- The Magni Group, Inc.
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Key Questions Answered in Industrial Coatings Market Report
- What is the current market size of industrial coatings market?
- Which is the fastest growing region in the industrial coatings market?
- Which region has the biggest share in the industrial coatings market?
This report provides the following insights:
- Analysis of key drivers (rising disposable incomes, increased propensity to spend extravagantly), restraints (stringent regulations by governments, high cost of advanced coatings), opportunities (adoption of green chemistry to promote sustainability in the market), influencing the growth of Industrial Coatings Market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Industrial Coatings Market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Industrial Coatings Market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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