Introduction of the Industrial coatings Market Report

An industrial coating is a paint or coating that is specially engineered for functional and protective properties. Although protection is their major goal, but it can be aesthetic at the same time. Polymers are mostly used in industrial coating that includes epoxy, fluoropolymer, polyurethane etc. It is mostly used in in controlling the corrosion of steel or concrete. Industrial coatings extend the overall lifespan of the materials, which reduces the replacement cost, which in turn is propelling the growth of the market.

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Market Dynamic

Key Drivers and Emerging Trends

Industrial coating market growth is somehow directly related or proportional to rise in demand for chemicals. Huge investments coupled with strong domestic demand for the chemicals, are the major factors that are contributing for the expansion of industrial coating market share. For instance, according to “European Chemical Industry Council” the production volume of chemicals rose by 3.1% in 2018, which has driven the demand for industrial coatings. With no major trade disruption housing activities has also been pushed by the strategic initiates by the government to support the infrastructure. For instance, according to “Asia Development Bank”, development of both soft and hard infrastructure activities increased due to the relaxation provided by the government in ASEAN countries. Furthermore, with the rise in disposable incomes in rural areas, for instance according to IBEF in India, rural income which is now US$ 572 million is expected to reach US$ 1.8 trillion by the fiscal year 2021, which is pushing the industries to set up plants in the specific areas leading to more consumption on the coatings, which is surging the overall market expansion.

Restraint in the Industrial coatings Market

However, the cost of raw material for industrial coatings is higher than the architectural and other coatings. High price tags associated with the raw materials can make up 70% dependency on coating industry, which is hampering the current growth of the market and is expected to hinder the future rise in the industry.

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Type – Segment Analysis

Based on the type, epoxy coating is expected to dominate the industrial coating market over the period. Epoxy coating is not only durable, but also durable to many corrosive substances. Epoxy is considered as top choice for many industrial coating Application like metal, concrete, steel etc. because it is more durable, non-toxic, weather resistant etc. which is driving the overall industrial coating market.

Application – Segment Analysis

Based on the application paints and coatings segment is expected to dominate the global industrial coatings market over the forecast period. Industrial coatings majorly go into paint and is known as industrial paint coatings. There are 4 Type of industrial paint coatings solvent-based paints, aquatic paints, powder coat paints, and anti-fouling paints.

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Regional – Segment Analysis:

Based on the region, Asia-Pacific is expected to dominate the global industrial coatings market. China, being a home for great number of players producing coatings and paints, is contributing a major pie in the market. For instance, Nippon Paint Holdings Co., Ltd., PPG Industries, Inc., Hempel A/S among others have strong presence in China, which is surging the market. Furthermore, according to European coatings, southern, central, and eastern China accounts more than 78% of the total output and this is due to 8000-10,000 coating manufacturers presence which have primarily contributed for the rapid expansion of the industrial coating industry in the region.

Top Market Players

Various notable players operating in the market, include, Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Nippon Paint Holdings Co., Ltd., Axalta Coatings System LLC., Jotun , TIKKURILA OYJ Kansai Paint Co.,Ltd., RPM International Inc., Hempel A/S, among others. 

Key Developments:

• • In 2018, Nippon Paint Industrial Coatings Co., Ltd. Invested in the powder coating plant in China and Japan. This investment helped the company in expanding the coating business and may lead to technological advancements soon.
  • In 2018, Axalta officially announced its expansion in production capacity in Jacksonville, the US, located in North America by approximately one million gallons annually. This expansion helped in generating more revenue from the coatings form the region.

Segments covered in the Report:

The global industrial coatings market has been segmented based on type, application, and key regions. Based on type, the market is segmented into epoxy coatings, polyurethane coatings, polysiloxane coatings and others. Based on application, the market is segmented into metal and plastic, automotive, protective and marine, coil and packaging. 

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Key questions answered in this research report:

• • At what pace is global Industrial coatings market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Industrial coatings market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Industrial coatings market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various application areas of global industrial coatings market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Akzo Nobel N.V., PPG Industries, Inc., The Sherwin-Williams Company, Nippon Paint Holdings Co., Ltd., Axalta Coatings System LLC., Jotun , TIKKURILA OYJ, Kansai Paint Co.,Ltd., RPM International Inc., Hempel A/S,among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Industrial coatings Market by Type

• • Epoxy Coatings
  • Polyurethane Coatings
  • Polysiloxane Coatings
  • Others

Global Industrial coatings Market by Application

• • Metal and Plastic
  • Automotive
  • Protective and Marine
  • Coil and Packaging

Global Industrial coatings Market by Region

• • North America Industrial coatings Market (Option 1: As a part of the free 25% customization)
    • North America Industrial coatings Market by Type
    • North America Industrial coatings Market by Application
    • US Industrial coatings Market All-Up
    • Canada Industrial coatings Market All-Up
  • Europe Industrial coatings Market (Option 2: As a part of the free 25% customization)
    • Europe Industrial coatings Market by Type
    • Europe Industrial coatings Market by Application
    • UK Industrial coatings Market All-Up
    • Germany Industrial coatings Market All-Up
    • France Industrial coatings Market All-Up
    • Spain Industrial coatings Market All-Up
    • Rest of Europe Industrial coatings Market All-Up
  • Asia-Pacific Industrial coatings Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Industrial coatings Market by Type
    • Asia-Pacific Industrial coatings Market by Application
    • China Industrial coatings Market All-Up
    • India Industrial coatings Market All-Up
    • Japan Industrial coatings Market All-Up
    • Rest of APAC Industrial coatings Market All-Up
  • RoW Industrial coatings Market (Option 4: As a part of the free 25% customization)
    • RoW Industrial coatings Market by Type
    • RoW Industrial coatings Market by Application
    • Brazil Industrial coatings Market All-Up
    • South Africa Industrial coatings Market All-Up
    • Saudi Arabia Industrial coatings Market All-Up
    • UAE Industrial coatings Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Industrial coatings Market All-Up

Major Players Operating in the Industrial coatings (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Akzo Nobel N.V.,
  • PPG Industries, Inc.,
  • The Sherwin-Williams Company
  • Nippon Paint Holdings Co., Ltd.
  • Axalta Coatings System LLC.
  • Jotun
  • TIKKURILA OYJ Kansai Paint Co., Ltd.
  • RPM International Inc.
  • Hempel A/S
  • TIKKURILA OYJ