The global industrial coatings market has diverse end users and is tied to multiple industries. The drivers of the global industrial coatings market are population growth, improved standard of living, infrastructure growth, global Growth Domestic Product growth, and growth in the construction industry. Lighting fixtures, antennas, and electrical components are some of the powder-coated products used daily. The key factor driving the growth of the market includes increasing demand from end-use industries. The global industrial, by end-use industry in Asia Pacific region is expecting a boom in the forecasted period and will lead to an increase in the demand for industrial coatings.

Market Dynamics

The global industrial coatings market is expected to exhibit a CAGR of 6.7% during the forecast period, owing to increasing demand from various industries. Growth of the automotive industry is expected to drive demand for paints and coatings, which is further expected to drive demand for powder coatings over the forecast period. An increase in the transportation and transit of consumer goods, people, and raw materials.

Among category, the water-borne segment is expected to be the fastest-growing region during the forecast period (2023-2030). Water-borne coatings are surface coatings or finishes that make use of water as a solvent to disperse the resin added to it. The high content of water makes these coatings eco-friendly and easy to apply. Water-borne coatings comprise 80% water along with a small amount of other solvents such as glycol ethers, which are applied to a surface to disperse the resin. Due to its water content, these coatings possess properties such as low VOC, very low odor, and non-flammability. Water-borne coatings dry at a very fast rate and can be re-coated. Conventional coatings have VOC (volatile organic compound) content of about 84% (and 16% solids), while a waterborne base-coat comprises 70% water (and 20% solids) and 10% solvent. Stringent regulations on the use of VOC has increased the demand for water-borne technology in the commercial vehicle paints & coatings market.

Key features of the study:

• This report provides an in-depth analysis of industrial coatings market, and provides market size (US$ Billion and KT) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global industrial coatings market based on the following parameters– company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include Akzo Nobel N.V., Axalta Coating Systems, BASF Coatings, Beckers Group, Berger Paints India Limited, Chugoku Marine Paints, Ltd., Hempel A/S, Jotun, Kansai Paint Co., Ltd., KCC Corporation, NIPSEA Group, PPG Industries, Inc., Teknos Group, The Chemours Company, and The Sherwin-Williams Company
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up-gradation, market expansion, and marketing tactics
• The global industrial coatings market report caters to various stakeholders in this industry including investors, suppliers, industrial coatings manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global industrial coatings market

Detailed Segmentation:

• Global Industrial Coatings Market, By Category:
  • Water-borne
  • Solvent-borne
  • Powder
  • E-coat
  • Others
• Global Industrial Coatings Market, By Resin  Type:
  • Polyurethanes
  • Epoxy
  • Acrylic
  • Fluoropolymer
  • Others
• Global Industrial Coatings Market, By Application :
  • Global Industrial Equipment
  • Agriculture Equipment
  • Construction Equipment
  • Other Industrial Equipment
  • Automotive Coatings
  • Coil & Extrusion
  • Energy & Power
  • Packaging
  • Marine
  • Aerospace
  • Rail
  • Others
• Global Industrial Coatings Market, By Region:
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles
  • Kazoo Nobel N.V
  • Axapta Coating Systems
  • BASF Coatings
  • Beckers Group
  • Berger Paints India Limited
  • Chugoku Marine Paints, Ltd.
  • Hempel A/S
  • Jotun
  • Kansai Paint Co., Ltd.
  • KCC Corporation
  • NIPSEA Group
  • PPG Industries, Inc.
  • Teknos Group
  • The Chemours Company
  • The Sherwin-Williams Compan