Global Industrial Coatings Market Report and Forecast 2023-2028

Global Industrial Coatings Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global industrial coatings market is projected to grow at a CAGR of 3.7% between 2023 and 2028. Aided by the escalating demand for durable and high-performance coatings across diverse industries and the increasing application of industrial coatings in various sectors, the market is expected to grow significantly by 2028.

Industrial coatings are specialty paints and finishes applied to equipment, machinery, and structures to enhance and safeguard them against corrosion, wear, and extreme temperatures. These coatings, widely employed in sectors like automotive, marine, aerospace, oil and gas, and construction, offer benefits like improved durability, resistance to chemicals and harsh environmental conditions, and enhanced aesthetics.

The ever-growing demand for durable, performance-oriented coatings is the main factor propelling the global industrial coatings market growth. As industries worldwide become increasingly cognizant of the benefits of industrial coatings, such as prolonged equipment lifespan and enhanced productivity, the use of these coatings has experienced a significant surge.

The broadening applications of industrial coatings across various industries also contribute significantly to the industrial coatings market expansion. In the automotive industry, these coatings are used to protect vehicles from corrosion, enhance their aesthetic appeal, and improve their overall lifespan. In the aerospace sector, industrial coatings offer protection against extreme temperatures and harsh operating conditions, thus playing a crucial role in aircraft maintenance.

The construction industry, too, utilises industrial coatings extensively, applying them to buildings and structures to provide protection from environmental damage and enhance longevity, increasing the industrial coatings market demand. Similarly, in the marine sector, these coatings are used to prevent corrosion caused by constant exposure to saltwater, reducing maintenance costs and prolonging the lifespan of ships and offshore structures.

Technological advancements and innovations in the industrial coatings realm also play a substantial role in driving the industrial coatings market growth. The development of eco-friendly, low-VOC (Volatile Organic Compounds) coatings has been a notable advancement, responding to the global call for sustainability and the reduction of environmental impact. This has opened new growth avenues for the industrial coatings market.

The rising trend of urbanisation, coupled with the burgeoning construction activities worldwide, is expected to provide additional impetus to the industrial coatings market. As more infrastructure projects take off, the demand for industrial coatings, essential in protecting and extending the lifespan of these structures, is anticipated to rise proportionately.

Market Segmentation

The market can be divided based on resin, technology, end use, and region.

Market Breakup by Resin

• Polyurethane
• Epoxy
• Acrylic
• Polyester
• Others

Market Breakup by Technology

• Water-Borne Coatings
• Solvent-Borne Coatings
• Powder Based
• Others

Market Breakup by End Use

• Oil and Gas
• Mining
• Power
• Infrastructure
• Marine
• Automotive
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global industrial coatings companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Akzo Nobel NV
• Jotun A/S
• PPG Industries, Inc.
• The Sherwin-Williams Company
• Axalta Coating Systems
• Others

About Us

Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.

Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.

Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of our Expert Market Research reports today.

*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.