Pune, India, Jan. 02, 2023 (GLOBE NEWSWIRE) -- The global industrial coatings market size was USD 132 billion in 2020. The market is projected to grow from USD 137.1 billion in 2021 to USD 183.2 billion in 2028 at a CAGR of 4.2% during the 2021-2028 period.
This information is provided by Fortune Business LINK, in its report, titled, 'Industrial Coatings Market, 2021-2028.' According to our researchers, the rising demand for environmentally approachable coatings, as well as the requirement for proficient procedures and robust coatings with better aesthetics, is the prime aspect of navigating the market. Get a Sample Copy of the Research Report: URL List of Players Covered in the Industrial Coatings Market Report Akzo Nobel N.V. (Netherlands)Axalta Coating Systems, LLC (U.S.)Industrial Coatings Ltd.
(Finland)PPG Industries, Inc. (U.S.)The Sherwin-Williams Company (U.S.)Nippon Paint Holdings Co., Ltd. (Japan)Kansai Paint Co., Ltd.
(Japan)RPM International Inc. (U.S.)BASF SE (Germany)PPG Asian Paints Pvt Ltd (India)Hempel A/S (Denmark)The Chemours Company FC, LLC..
of Pages 200 Segments Covered By Resin, By Technology and Regional Industrial Coatings Market Growth Drivers Growing Environmental Concerns to Thrust Growth Crucial Players Focus on Unveiling Novel Products to Reinforce Their Positions COVID-19: Scarcity of Workforce & Supply Chain Commotions to Impede Growth Since the COVID-19 virus outbreak, the infection has accomplished to spread to each region across the globe, therefore the World Health Organization stated it as a public health emergency disaster. The global impacts of the coronavirus disease were perceived by almost every sector in the first half of the year 2020. The outbreak of the COVID-19 pandemic has deteriorated the demand for industrial coatings across the world.
Also, commotions of supply chains in this industry, as well as the absence of a workforce have formed massive fiscal damages for a large number of manufacturers. Report Coverage We provide our reports which are conducted with an all-inclusive examination approach that majorly emphasizes on delivering precise material. Our scholars have applied a data triangulation method which further assists us to offer trustworthy estimations and test the general market dynamics accurately.
Further, our analysts have received admission to numerous international as well as regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones. Inquire Before Buying This Research Report: URL Segmentation On the basis of resin, the market is segregated into acrylic, alkyd, polyurethane, epoxy, polyester, and others. Based on technology, the market is classified into solvent-borne, water-borne, powder, and others.
In terms of end-use, the market is categorized into general industrial, powder, automotive OEM, automotive refinish, protective, wood, marine, coil, packaging, and others. An anticipated rise in the infrastructure construction activities and an expanding middle-class people are creating lucrative opportunities for the market. Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers & Restraints Growing Environmental Concerns to Thrust Growth The manufacturing procedures of industrial coatings releases Volatile Organic Compounds (VOCs) that must be eradicated efficiently. These organic chemicals turn to gases once they are kept at room temperature. VOC is the main cause of ground-level air pollution.
Therefore, these days numerous manufacturers are speedily disposing towards powder-based or water-borne coatings to preserve sustainability. This aspect is set to boost the industrial coatings market growth in the upcoming years. Regional Analysis Asia Pacific held the maximum industrial coatings market share and is set to retain its leading position in the market throughout the forthcoming years.
This growth is accredited to rising consumer spending and rising automotive production. Europe, on the contrary, is anticipated to display considerable growth backed by the ongoing developments in the oil & gas sector. At the same time, the increasing utilization of powder coatings owing to the rapid technological progressions in this sector would direct growth.
North America is estimated to extend at a reasonable pace. Industrial coatings in the region are experiencing high demand because of the rising industrial manufacturing. Competitive Landscape Crucial Players Focus on Unveiling Novel Products to Reinforce Their Positions The market for industrial coatings is highly fragmented in nature backed by the existence of multiple important domestic and international companies.
Most of them are emphasizing on launching state-of-the-art products to suffice the huge demand from numerous end-use industries. Answer: Industrial coatings are the best way to keep a variety of surfaces safe. They prevent corrosion.
Rust or other corrosive debris is another issue that often pops up in industrial applications Who is the largest coatings company in the world? Answer: Industrial Coatings Ltd. (Finland), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company Check out more Related Insights by Fortune Business Insights: Protective Coatings Market to Reach USD 21.2 Billion in 2028; Rising Usage in Smartphones and Tablets to Prevent Corrosion will Aid Growth, Says Fortune Business LINK Coating Resins Market Size to Worth 47,412.8 Million 2027 .
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