Industrial Coatings Market Going To Hit $101.9 Billion By 2027 | Industry Participants Growing In North America, Europe, Asia Pacific, Central & South America, MEA | Grand View Research, Inc.

Industrial Coatings Market Going To Hit $101.9 Billion By 2027 | Industry Participants Growing In North America, Europe, Asia Pacific, Central & South America, MEA | Grand View Research, Inc.

Industrial Coatings Market – Global Industrial Coatings Industry Growth, Analysis, Size, Share, Forecast, Outlook, Segmentation, Production Capacity, Competitive Strategies, Regional Outlook from 2020 to 2027
Industrial Coatings Market Size, Share & Trends Analysis Report By Product (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester), By Technology, By End Use, By Region, And Segment Forecasts, 2020 – 2027

The global industrial coatings market size is expected to reach USD 101.9 billion by 2027, expanding at a CAGR of 3.0% over the forecast period, according to a new study by Grand View Research, Inc. Increasing product demand from the general industry, automotive and refinish, oil and gas, marine, mining, power generation, electronics and aerospace industry is expected to propel market growth.

Industrial coatings are widely used in general industrial applications such as in heat exchangers, steel structure, containers, concrete, furniture, appliances, and material handling equipment to protect them from heat and humidity. It also helps to protect equipment against corrosion, abrasion, and chemical attack, and thereby improves product efficiency.

Growing economies such as Brazil, China, and India are expected to provide new opportunities for the market on account of rapid industrialization. The presence of a large number of manufacturers is also projected to fuel the demand for industrial coatings for general industrial applications. However, the outbreak of COVID-19 in China and other countries, including India, Australia, Thailand, and Japan, has resulted in lockdown of major cities and caused a sharp slowdown in manufacturing industries, which is expected to hinder market growth in the coming years.

Based on product, the alkyd segment is anticipated to witness substantial growth rate over the forecast period. Alkyd coatings are used in an industrial environment majorly for metal coatings. They have good gloss, color retention, and corrosion resistance properties. In addition, they increase the durability of metal, which find application in the glazing of various structures such as bridges, towers, oil and gas plants, automotive parts, and marine vessels.

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Alkyd coatings segment is expected to witness a volume-based CAGR of 2.6% over the forecast period. Rising product demand is attributed to its expanding application scope in construction, automotive, and oil and gas industries. The presence of low VOC is also expected to drive the segment in matured countries of Europe along with U.S. and Canada.

The powder based segment is projected to witness considerable growth during the forecast period. It is more durable and eco-friendly as compared to its counterparts. Powder based coatings have negligible VOC content due to the absence of solvents and thus, they comply more efficiently and economically with the Environmental Protection (EP) regulations. They are widely used in agricultural equipment, automotive, machine components, mechanical parts, building facades, and electrical fixtures to prevent corrosion and provide a thicker blazing. Increasing demand for farming equipment such as tractors in Brazil, India, and China is expected to drive the segment.

U.S. industrial coatings market, by end use, 2016 - 2027 (USD Billion)

Industrial Coatings Market Report Highlights

  • Asia-Pacific dominated the market during the forecast period from 2020 to 2027 and is projected to witness a revenue-based CAGR of 3.4%
  • The acrylic segment is anticipated to witness highest revenue-based CAGR owing to its rising demand in various end-use industries
  • Various strategic initiatives were recorded over the past few years in order to boost the growth of the market. For instance, in July 2019, Axalta Coating Systems, LLC showcased its new technology Amarium Pre-Catalyzed Lacquers for use in wood blazings. The new technology is employed for various applications including wooden furniture, cabinets, and other interior wood surfaces and protects the surface from ultra-violet radiation.

Industrial Coatings Market Segmentation

Grand View Research has segmented the global industrial coatings market on the basis of product, technology, end use, and region:

Industrial Coatings Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)

  • Acrylic
  • Alkyd
  • Polyurethane
  • Epoxy
  • Polyester
  • Others

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Global industrial coatings market revenue share, by product, 2019 (%)

Key Topic Covered

Chapter 1. Methodology and Scope
                 1.1. Market Segmentation & Scope
                 1.2. Market Definition
                 1.3. Information Procurement
                     1.3.1. Purchased Database
                     1.3.2. GVR’s Internal Database
                     1.3.3. Secondary Sources & Third-Party Perspectives
                     1.3.4. Primary Research
                 1.4. Information Analysis
                     1.4.1. Data Analysis Models
                 1.5. Market Formulation & Data Visualization
Chapter 2. Executive Summary
                 2.1. Market summary
                 2.2. Segmental Outlook
Chapter 3. Market Variables, Trends, and Scope
                 3.1. Market Lineage Outlook
                     3.1.1. Global Paints & Coatings Market Outlook
                     3.1.2. Global Industrial Coatings Market Outlook
                 3.2. Penetration & Growth Prospect Mapping
                 3.3. Industry Value Chain Analysis
                     3.3.1. Raw Material Trends
                 3.4. Technology Overview
                 3.5. Regulatory Framework
                     3.5.1. Standard & Compliances
                     3.5.2. Safety
                 3.6. Market Dynamics
                     3.6.1. Market Driver Analysis
                Growing demand from end-use industry
                Rising demand for environmentally friendly coatings
                     3.6.2. Market Restraint Analysis
                Stringent regulations regarding toxic solvents


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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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