Industrial Coatings Market:
Industrial Coatings Market was valued to be USD 24.2 billion in 2016 and is expected to reach USD 31.4 billion by the end of 2022, growing at the CAGR of 3.9 % from 2016 to 2022.
Industrial Coatings is used in various industries like automotive, building & construction, marine, oil & gas, medical & healthcare and others due to its corrosion resistance property. Industries are looking for innovation in coatings such as increased service life, improve corrosion resistance and bio based coatings that will fuel the industrial coatings market. Strict government regulations regarding disposal of petrochemical products in environment can restrain the market in the coming years.
Industrial Coatings are segmented into water based, solvent based and powder based. Liquid or water based coatings accounts for largest market share owing to low Volatile Organic Compound (VOC) content which will lead to less emission of carbon in the environment. These chemicals are generated from industrial, household as well as from daily activities. Therefore, government legislation regarding Volatile Organic Compound (VOC) content has shift the focus more on water based chemicals leading to its growth in the future. Solvent based coatings evaporate easily so oil based coating finds application in automotive OEMs, agriculture equipment’s and construction activities.
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Data integration and capabilities are analyzed to support the findings and study the predicted geographical segmentations. Various key variables and regression models were considered to calculate the trajectory of industrial coatings market. Detailed analysis is explained and given importance to with best working models.
Geographically, the segmentation is done into several key regions like North America, Middle East & Africa, Asia Pacific, Europe and Latin America. The production, consumption, revenue, shares in mill UDS, growth rate of industrial coatings market during the forecast period of 2016 to 2022 is well explained.
The ongoing market trends of industrial coatings market and the key factors impacting the growth prospects are elucidated. With increase in the trend, the factors affecting the trend are mentioned with perfect reasons. Top manufactures, price, revenue, market share are explained to give a depth of idea on the competitive side.
Market Key Players:
PPG Industries Inc.,
Sherwin-Williams Co. Ltd,
NOROO Paints & Coatings,
Burke Industrial Coatings,
Industrial Nanotech, Inc.
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