DUBLIN--(BUSINESS WIRE)--The "Industrial Coatings Market by Resin (Polyurethane, Epoxy, Acrylic, Alkyd), Technology (Solvent-based, Water-based, Powder), End-Use Industry (General Industrial, Protective, Automotive, Aerospace, Wood, Packaging), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global industrial coatings market was USD 88.9 billion in 2019 and is projected to reach USD 103.2 billion by 2025, at a CAGR of 3.9%, between 2020 and 2025.
The increasing demand for environmentally-friendly coatings, the need for efficient process and durable coatings with better aesthetics, and growing demand from the APAC region are expected to drive the industrial coatings market. However, difficulty in obtaining thin films in powder coatings and the requirement of more drying time for water-based coatings are the major restraining factors for the market.
Acrylic is projected to be the fastest growing resin chemistry during the forecast period
Acrylic resin-based industrial coatings have high demand, especially in the automotive industry, owing to stringent environmental regulations and the high corrosion resistance of these coatings. Apart from automotive, consumer appliances is the major end-use industry of these coatings. The coatings based on acrylic resins are also being used in wood, transportation, marine, and general industrial applications.
Powder-based industrial coatings are expected to be the fastest-growing technology during the forecast period
Powder-based industrial coatings are highly efficient with over 98% powder overspray recoverability, more resistant to chipping, scratching, fading, and wearing than other finishes. This process releases negligible VOC into the environment and takes less cure time beyond the cool-down period. Powder-based industrial coatings emit low levels of VOCs, providing superior performance and cost efficiency for applications that require maximum abrasion resistance, and hardness.
Increasing consumption of industrial coatings in general industrial and automotive industries is expected to fuel the demand for industrial coatings
The general industrial and automotive segments are the largest end-user industries of industrial coatings. Population growth, improved standard of living, infrastructure growth, global GDP growth, and recovery and growth in the construction industry are driving the growth of the general industries. Automotive OEM is an integral part of automotive manufacturing. Coatings offer excellent quality and durability to automotive equipment. Industrial coatings possess superior mechanical properties that protect automobiles from scratches, environment, and chemical exposure. Interior automotive coatings improve the surface area. Increasing automobile production in some parts of the world is expected to drive the demand for industrial coatings.
APAC is expected to register the highest growth during the forecast period
APAC has emerged as the leading consumer and producer of industrial coatings due to the growing manufacturing sector in all major economies of the region. Also, the presence of many large, as well as small industrial coatings producers, is driving the market in the region. The demand for industrial coatings in APAC is driven majorly by consumption in China. Other APAC countries such as Vietnam and India are also witnessing significant investments in the automotive and marine sectors to cater to the demand.
The market study covers the industrial coatings market across segments. It aims at estimating the market size and the growth potential of this market, across different segments based on resin type, technology, end-use industry, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Industrial Coatings Market
4.2 Industrial Coatings Market, by Resin Type
4.3 Industrial Coatings Market, Developed vs. Developing Countries
4.4 Industrial Coatings Market, by End-use Industry and Key Countries
4.5 Industrial Coatings Market, by Major Countries
5 Market Overview
5.2 Market Dynamics
188.8.131.52 Increasing Demand for Environmentally Friendly Coatings
184.108.40.206 Need for Efficient Process and Durable Coatings With Better Esthetics
220.127.116.11 Growing Demand from APAC
18.104.22.168 Difficulty in Obtaining Thin Films in Powder Coatings
22.214.171.124 Requirement of More Drying Time for Water-Based Coatings
126.96.36.199 Attractive Prospects for Powder Coatings in Shipbuilding and Pipeline Sectors
188.8.131.52 Increasing Use of Nano-Coatings
184.108.40.206 Continuous Demand for Extended Product Lifetime and Reduced Maintenance
220.127.116.11 Stringent Regulatory Policies
5.3 Porter's Five Forces Analysis
6 Macroeconomic Trends and Impact of COVID-19
6.1 Macroeconomic Overview and Key Trends
6.1.2 Trends and Forecast of GDP
6.1.3 Trends and Forecast of Global Automotive Industry
6.2 COVID-19 Impact
6.3 COVID-19 Economic Assessment
6.3.1 COVID-19 Economic Impact - Scenario Assessment
7 COVID-19 Impact on Industrial Coatings Market
7.1 Value Chain of the Industrial Coatings Industry
7.2 Impact on Value Chain
7.2.1 Raw Materials/Suppliers
18.104.22.168 Impact of COVID-19 on Raw Materials and Suppliers
7.2.2 Industrial Coatings Formulators
22.214.171.124 Impact of COVID-19 on Formulators
126.96.36.199 Impact of COVID-19 on Applicators
188.8.131.52 Impact of COVID-19 on Distributors
7.2.5 End-use Industries
184.108.40.206 Impact of COVID-19 on End-use Industries
7.3 Customer Analysis
7.3.1 Shift in Automotive Industry
7.3.2 Impact on Customers' Output & Strategies to Resume/Improve Production
220.127.116.11 Impact on Customers' Revenues
18.104.22.168 Most Impacted Regions
22.214.171.124.1 Short-Term Strategies to Manage Cost Structure and Supply Chains
126.96.36.199 New Market Opportunities/Growth Opportunities
188.8.131.52.1 Measures Taken by Customers
184.108.40.206 Customers' Perspective on the Growth Outlook
7.4 Shift in Aerospace Industry
7.4.1 Disruption in the Industry
7.4.2 Impact on Customers' Output & Strategies to Resume/Improve Production
7.4.3 Impact on Customers' Revenues
220.127.116.11 Most Impacted Regions
18.104.22.168 Short-Term Strategies to Manage Cost Structure and Supply Chains
7.4.4 New Market Opportunities/Growth Opportunities
22.214.171.124 Measures Taken by Customers
126.96.36.199 Customers' Perspective on Growth Outlook
8 Industrial Coatings Market, by Resin Type
9 Industrial Coatings Market, by Technology
10 Industrial Coatings Market, by End-use Industry
10.2 General Industrial
10.4 Automotive OEM
10.5 Industrial Wood
10.6 Automotive Refinish
11 Industrial Coatings Market, by Region
11.4 North America
11.5 Middle East & Africa
11.6 South America
12 Competitive Landscape
12.2 Competitive Leadership Mapping, 2019
12.2.1 Visionary Leaders
12.2.3 Emerging Companies
12.2.4 Dynamic Differentiators
12.3 Market Share Analysis
12.4 Competitive Scenario
12.4.1 Investment & Expansions
12.4.2 Mergers & Acquisitions
12.4.3 New Product Launches
12.4.4 Joint Ventures
13 Company Profiles
13.1 AkzoNobel N.V.
13.2 Axalta Coating Systems, LLC
13.3 Jotun A/S
13.4 Ppg Industries Inc.
13.5 the Sherwin-Williams Company
13.6 Nippon Paint Holdings Co. Ltd.
13.7 Kansai Paint Co. Ltd.
13.8 Rpm International Inc.
13.9 Tikkurila Oyj
13.10 Hempel A/S
13.11 Other Key Players
13.11.1 Teknos Group
13.11.2 Noroo Paint & Coatings
13.11.3 Weilburger Coatings
13.11.4 The Chemours Company
For more information about this report visit https://www.researchandmarkets.com/r/oank9w