Industrial Coatings Market Global Forecast to 2024 By Resin (Acrylic, Alkyd, Epoxy, Polyurethane, Polyester), Technology, End-use Industry (Automotive, Aerospace, Marine, Wood, Packaging, Protective), Regions


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Shibuya Data Count

Jan 14, 2021, 09:05 EST


Shibuya-ku, Tokyo, Japan, Japan, Jan 14, 2021, 09:05 /Comserve / -- The industrial coatings market comprises major solution providers such as The Sherwin-Williams Company (US), BASF SE (Germany), Akzo Nobel N.V. (Netherlands), Nippon Paint Holdings Co., Ltd. (Japan), PPG Industries, Inc. (US), Others

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The industrial coatings market size is expected to grow from USD 107.4 billion in 2019 to USD 139.0 billion by 2024, at a CAGR of 5% during the forecast period. The increasing demand for eco-friendly coatings, the need for efficient process & durable coatings with better aesthetics, and growing demand from the APAC region are expected to drive the industrial coatings market. However, difficulty in obtaining thin films in powder coatings and the requirement of more drying time for water-based coatings are the major restraining factors for the market.

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"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."

Fluoropolymer is projected to be the fastest growing resin chemistry during the forecast period.
Fluoropolymers offer excellent thermal, chemical, and weather resistance, as well as optical properties. These characteristics make fluoropolymer-based industrial coatings suitable for industries such as chemical, oil & gas, textile, paper, and plastics. Fluoropolymer resins are used mainly in coil coatings, as they have a high resistance to high temperatures, resulting in negligible hurdles for forming a coating. In the automotive industry, fluoropolymer-based industrial coatings are used for ball bearings to reduce friction and resist corrosion. In the aerospace industry, these coatings are useful in cabin interiors, wheels, and bearings to resist fire and corrosion. Apart from these, the consumer appliances industry, including mixing blades, non-stick cookware, cutting blades, and molds, uses fluoropolymer coating.

Powder-based industrial coatings are expected to be the fastest-growing technology during the forecast period
Powder-based industrial coatings are highly efficient with over 98% powder overspray recoverability, more resistant to chipping, scratching, fading, and wearing than other finishes. This process releases negligible VOC into the environment and takes less cure time beyond the cool-down period. Powder-based industrial coatings emit low levels of VOCs, providing superior performance and cost efficiency for applications that require maximum abrasion resistance, and hardness.

Increasing consumption of industrial coatings in general industrial and automotive industries is expected to fuel the demand for industrial coatings
The general industrial and automotive segments are the largest end-user industries of industrial coatings. Population growth, improved standard of living, infrastructure growth, global GDP growth, and recovery and growth in the construction industry are driving the growth of the general industries. Automotive OEM is an integral part of automotive manufacturing. Coatings offer excellent quality and durability to automotive equipment. Industrial coatings possess superior mechanical properties that protect automobiles from scratches, environment, and chemical exposure. Interior automotive coatings improve the surface area. Increasing automobile production in some parts of the world is expected to drive the demand for industrial coatings.

APAC is expected to register the highest growth during the forecast period.
APAC has emerged as the leading consumer and producer of industrial coatings due to the growing manufacturing sector in all major economies of the region. Also, the presence of many large, as well as small industrial coatings producers, is driving the market in the region. The demand for industrial coatings in APAC is driven majorly by consumption in China. Other APAC countries such as Vietnam and India are also witnessing significant investments in the automotive and marine sectors to cater to the demand.

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"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."

In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the industrial coatings market.
By company type: Tier 1 – 42%, Tier 2 – 25%, and Others – 33%
By designation: C Level – 36%, Director Level – 19%, and Others – 45%
By region: Europe – 42%, North America – 25%, APAC – 17%, South America – 8%, and the Middle East & Africa – 8%

Research Coverage:
The market study covers the industrial coatings market across segments. It aims at estimating the market size and the growth potential of this market, across different segments based on resin type, technology, end-use industry, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall industrial coatings market and the subsegments. This report will also help them understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Furthermore, the stakeholders can understand the pulse of the market and obtain information about key market drivers, restraints, challenges, and opportunities in the market.

TABLE OF CONTENTS

1 INTRODUCTION 19
1.1 OBJECTIVES OF THE STUDY 19
1.2 MARKET DEFINITION 19
1.3 MARKET SCOPE 20
1.3.1 MARKET SEGMENTATION 20
1.3.2 YEARS CONSIDERED FOR THE STUDY 20
1.4 CURRENCY 21
1.5 UNIT CONSIDERED 21
1.6 STAKEHOLDERS 21
2 RESEARCH METHODOLOGY 22
2.1 RESEARCH DATA 22
2.1.1 SECONDARY DATA 23
2.1.1.1 Key data from secondary sources 23
2.1.2 PRIMARY DATA 24
2.1.2.1 Key data from primary sources 24
2.1.2.2 Key industry insights 25
2.1.2.3 Breakdown of primary interviews 25
2.2 MARKET SIZE ESTIMATION 26
2.2.1 BOTTOM-UP APPROACH 26
2.2.2 TOP-DOWN APPROACH 27
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 28
2.4 ASSUMPTIONS 29
2.5 LIMITATIONS 29
3 EXECUTIVE SUMMARY 30
4 PREMIUM INSIGHTS 35
4.1 ATTRACTIVE OPPORTUNITIES IN THE INDUSTRIAL COATINGS MARKET 35
4.2 INDUSTRIAL COATINGS MARKET, BY RESIN TYPE 35
4.3 INDUSTRIAL COATINGS MARKET, BY TECHNOLOGY 36
4.4 INDUSTRIAL COATINGS MARKET, BY END-USE INDUSTRY AND KEY COUNTRIES 37
4.5 INDUSTRIAL COATINGS MARKET, DEVELOPED VS. DEVELOPING COUNTRIES 38
4.6 APAC INDUSTRIAL COATINGS MARKET 38
4.7 INDUSTRIAL COATINGS MARKET, BY MAJOR COUNTRIES 39
5 MARKET OVERVIEW 40

Request to Fill The Form To get Sample Copy of This Report: https://www.sdki.jp/sample-request-106850

"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."

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