Global Industrial Coatings Market: Industrial coating offer coating for aluminum, wood, surface of steel, and plastic that are designed to meet the industrial standards. The majority of industrial coating are solvent borne and are coated using relative technology depending upon the end-use. Industrial coating not only protect from corrosion but also gives the product an aesthetic look, a non-sticky performance, and a chemical protection. The coating is mostly external but sometime it can be internally given.
A major factor driving growth of the global industrial coatings market is increasing demand from various sectors such as automotive, oil & gas, etc. In addition, increasing infrastructural development in various countries and increasing adoption of industrial coatings are expected to drive growth of the global industrial coatings market. Technological advancements such as eco-friendly coatings and coil coating in electric and automotive sectors are expected to further fuel growth of global industrial coatings market during the forecast period.
Major factors hampering growth of the global industrial coatings market are stringent government regulation on disposing of this chemically treated products and use of volatile organic compounds. In addition, availability of non-chemical substitute is further hampering growth of the global industry coating market. Increasing application in healthcare sector for different steel products to have high durable life can create more opportunities for major manufacturers which are expected to drive growth of the global industrial coatings market during the forecast period.
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The global industrial coatings market report is segmented on the basis of technology, application, and region.
North America dominates the global industrial coating market. The market in North America is expected to maintain its dominance and is expected to register a CAGR of X.X% during the forecast period. The market in Europe is expected to witness steady growth in terms of revenue in the global industrial coatings market. The market Asia Pacific is projected to witness high and fast growth in terms of revenue during the forecast period owing to growth in manufacturing, infrastructure, healthcare, and marine sector.
Key players in the global industrial coatings market are: Akzo Nobel N.V., Axalta Coating Systems Ltd., BASF SE, E. I. du Pont de Nemours and Company, The Dow Chemical Company, Kansai Paint Co., Ltd, NIPPON PAINT HOLDINGS CO LTD, PPG Industries, Inc., The Sherwin-Williams Company, and NOROO Paint & Coatings Co., Ltd.