INDUSTRIAL COATINGS MARKET ANALYSIS
Global industrial coatings market was valued at US$ 38.42 Bn in 2022, exhibiting a CAGR of 6.7% in terms of revenue, over the forecast period (2023 to 2030) to reach US$ 64.61 Bn by 2030. Industrial coating is a paint or coating, which is defined by its protective, rather than aesthetic properties, although it can provide both. The most common use of industrial coating includes corrosion control of steel or concrete.
Global Industrial Coatings Market- Trends
Product portfolio expansion with low curing temperature
Product portfolio expansion with low curing temperature is the key market trend, which is expected to drive the market growth over the forecast period. For instance, in 2021, Koninklijke DSM N.V., a global science-based company in nutrition, health, and sustainable living, launched Uralac Easy Cure resin, P3225, for fast-cure or low-temperature powder coating applications for architectural components. Uralac Easy Cure P3225 can be cured in few minutes at 180°C and offers a unique combination of coating benefits by enabling good appearance, higher degassing limit, robust outdoor durability, and reliable storage stability.
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