LONDON--(BUSINESS WIRE)--The industrial coatings market size is expected to post a CAGR of close to 6% during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The surging demand for water-borne coatings is one of the key factors contributing to the industrial coatings market growth. Water-borne coatings provide several advantages and are widely used in automobiles, buildings and construction, marine, oil and gas, metallurgy and metal forming, aerospace, mining, and healthcare. The ability of these coatings to offer excellent resistance to heat and abrasion and provide superior adhesion allows them to be used as primers. Low VOC levels and hazardous air pollutants emissions make waterborne coatings less toxic and flammable.
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As per Technavio, the emergence of self-cleaning and self-healing coatings will have a positive impact on the market growth over the forecast period. This research report also analyzes other important trends and market drivers that will influence market growth over 2019-2023.
Industrial Coatings Market: Emergence of Self-Cleaning and Self-Healing Coatings
The emergence of self-cleaning and self-healing coatings is one of the significant trends in the global industrial coatings market. Vendors are heavily investing in R&D activities to develop paints and coatings that can restrict the need for multiple application of coatings on vehicles. This will have a positive impact on the sales of producers of industrial coatings.
“Apart from the emergence of self-cleaning and self-healing coatings, other factors such as the increasing focus on UV-curable coatings and nanocoatings and the extension plans by vendors to enhance capacity will have a significant impact on the growth of the industrial coatings market during the forecast period,” says a senior analyst at Technavio.
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Industrial Coatings Market: Segmentation Analysis
This market research report segments the industrial coatings market by technology (water-borne, solvent-borne, powdered coatings, and UV-cured) and by region (the Americas, EMEA, and APAC).
APAC led the market in 2018, followed by EMEA and the Americas. The growth of the industrial coatings market share in APAC can be attributed to factors such as the increasing stringency of environmental regulations to reduce the emission of hazardous compounds and the growing awareness of health benefits of using better and improved industrial coatings.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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