Global Industrial Coatings Market Trends, Applications, Analysis, Growth, and Forecast to 2027

Global Industrial Coatings Market Overview:

The global market report is segmented on the basis of technology, application, and region. The global industrial coatings market was valued at US$ X.X billion in 2016 and is expected to reach US$ X.X billion at a single-digit CAGR of X.X% over the forecast period.

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Industrial coating offer coating for aluminum, wood, the surface of the steel, and plastic that are designed to meet industrial standards. The majority of industrial coating is solvent-borne and is coated using relative technology depending upon the end-use.

Industrial coating not only protects from corrosion but also gives the product an aesthetic look, a non-sticky performance, and chemical protection. The coating is mostly external but sometimes it can be internally given.

A major factor driving the growth of the global industrial coatings market is increasing demand from various sectors such as automotive, oil & gas, etc. In addition, increasing infrastructural development in various countries and increasing adoption of industrial coatings is expected to drive the growth of the global industrial coatings market.

Technological advancements such as eco-friendly coatings and coil coating in the electric and automotive sectors are expected to further fuel the growth of the global industrial coatings market during the forecast period.

Major factors hampering the growth of the global industrial coatings market are stringent government regulation on disposing of this chemically treated product and the use of volatile organic compounds. In addition, the availability of non-chemical substitutes is further hampering the growth of the global industry coating market.

Increasing application in the healthcare sector for different steel products to have high durable life can create more opportunities for major manufacturers which are expected to drive the growth of the global industrial coatings market during the forecast period.

North America dominates the global industrial coating market. The market in North America is expected to maintain its dominance and is expected to register a CAGR of X.X% during the forecast period. The market in Europe is expected to witness steady growth in terms of revenue in the global industrial coatings market.

The market in the Asia Pacific is projected to witness high and fast growth in terms of revenue during the forecast period owing to growth in the manufacturing, infrastructure, healthcare, and the marine sector.

Global Industrial Coatings Market Segmentation:

Segmentation on the basis of technology:

• Solvent-borne
• Waterborne
• Radiation-cured
• Powder coat

Segmentation on the basis of application:

• Automotive
• Building and Construction
• Marine, oil and Gas
• Aerospace
• Mining
• Medical & healthcare

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa