Dublin, April 30, 2021 (GLOBE NEWSWIRE) -- The "Industrial Coatings Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The industrial coatings market by revenue is expected to grow at a CAGR of approx. 4% during the period 2021-2026.
The global market is driven by the rise in the construction industry worldwide. The increase in the number of construction projects around the globe can be ascribed to the fast pace of urbanization. In China, there is an increase in government spending on reasonable housing facilities, which leads to the demand for houses.
Also, the growing public-private partnership projects in China lead to the growth in the construction sector, which, in turn, increases the demand for industrial coatings in the APAC region. In India, the growth in construction activities and supportive government measures for building infrastructure is expected to strengthen the demand for construction activities, which is likely to boost the demand for architectural coatings.
Furthermore, another key factor providing opportunities for industrial coatings is the growth of the automotive industry. Industrial coatings protect metals and plastics from external conditions. They also help to protect steel and concrete from fire hazards and other factors that can damage. The entrance of automobile production units and investments in developing economies is estimated to have a positive effect on the industrial coatings market during the forecasted period.
Global Industrial Coatings Market Segmentation
The global industrial coatings market research report includes a detailed segmentation by resin type, technology, end-user, geography. One of the leading polymer technologies in industrial coatings, acrylics offer several advantages, including water-resistant, gloss retention, fast-drying, resistance to alkaline conditions, and high adhesion. Due to fast-drying, strong colors, and better coverage, the application of acrylic continues is to grow, especially in canvas and paper-based applications. In the APAC region, automotive OEMs are the major end-users of acrylic coatings.
Water-borne industrial coatings provide high protection against corrosion, fire, and moisture, hence extensive applications in construction, automotive, marine, aerospace, oil and gas, and electronics end-users. They are environment-friendly and easily applicable. They offer outstanding surface properties, which increase their usage in a wide range of industries. Water-based solutions are brilliant primers because of their heat resistance and abrasion resistance.
Industrial coatings are used in general industrial to protect from UV radiation, corrosion, wear, and tear, and improve their efficiency. The application of general industrial coatings is increasingly demanding as they require higher durability, better adhesion, chemical resistance, and better appearance. The increasing demand for environment-friendly solutions is increasing the demand for industrial coatings. The increasing construction sector in the APAC region, especially in India, due to the increased investments in infrastructure projects, including buildings and metros is offering new revenue opportunities for vendors.
Hence, the growing demand from the construction industry is a key factor that leads to the growth of industrial coatings. Increasing air traffic majorly in the Middle East and APAC regions and ASEAN countries and growing international trade are the key drivers for the growth of aerospace industries. Therefore, the demand from aerospace leads to the growth of the industrial coatings market.
INSIGHTS BY VENDORS
The global market is highly fragmented with no major vendor constituting a significant share in the market, Sherwin-Williams Company/Valspar, PPG, AkzoNobel, Nippon, Axalta, BASF, Kansai Paints, Masco (Behr), RPM, and Jotun holds are the leading ten vendors that account for around 50% of the industrial coating market share.
The rest of the industrial coating market share is occupied by small- and medium-scale manufacturers. The competition is based on the product quality provided and technology used by the manufacture. Key players are engaged in the expansion of their production facilities, mergers, and acquisitions, spending in research and development facilities, infrastructural development, increase geographic presence, and looking for opportunities to integrate across the value chain.
Axalta Coating Systems
Other Prominent Vendors
Burke Industrial Coatings
Chugoku Marine Paints
Industria Chimica Adriatica (ICA)
Jamestown Coating Technologies
NOROO Paint & Coatings
Premium Coatings and Chemicals
Yip's Chemical Holdings
Zuelch Industrial Coatings
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
4.4 Market Segments
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.2 COVID-19 Impact
8 Market Opportunities & Trends
8.1 Growth Opportunities Via Mergers And Acquisitions
8.2 Digitalization In Businesses
9 Market Growth Enablers
9.1 Use Of Innovative Coatings In Automotive Industry
9.2 High Demand For Environment-Friendly Coatings
9.3 Increasing Demand For Protective Coatings
9.4 Increasing Use Of Conductive Coatings In Electronics Industry
10 Market Restraints
10.1 Market Fragmentation
10.2 Volatility In Raw Material Pricing
10.3 Difficulty In Obtaining Thin Films In Powder Coatings
10.4 Environmental Challenges In Industrial Coatings Market
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.2.1 Revenue & Volume
11.2.2 Market By Geography (Revenue)
11.2.3 Market By Geography (Volume)
11.3 Five Forces Analysis
12.1 Market Snapshot & Growth Engine (Revenue)
12.2 Market Snapshot & Growth Engine (Volume)
12.3 Market Overview
13.1 Market Snapshot & Growth Engine (Revenue)
13.2 Market Snapshot & Growth Engine (Volume)
13.3 Market Overview
14.1 Market Snapshot & Growth Engine (Revenue)
14.2 Market Snapshot & Growth Engine (Volume)
14.3 Market Overview
14.4 General Industrial
14.8 Oil & Gas
15.1 Market Snapshot & Growth Engine (Revenue)
15.2 Market Snapshot & Growth Engine (Volume)
15.3 Geographic Overview
For more information about this report visit https://www.researchandmarkets.com/r/14t24o
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