Industrial Coatings Market

Global Industrial Coatings Market is valued at USD 96.05 Billion in 2022 and is expected to reach USD 122.62 Billion by 2029 with a CAGR of 3.55% over the forecast period.

Scope of the Industrial Coatings Market

Industrial coating is a paint or coating which used to protect walls, floors, and roofs against heavy rainfall, strong wind, and snowfall. The most common use of commercial coatings is for corrosion control of steel or concrete. The most common application for these coating products is to stop corrosion of steel and concrete. Another primary used coating is to make the material less susceptible to fire or other hazards. Industrial coatings offer several benefits such as waterproofing & weatherproofing, crack-bridging ability, high flexibility, resistance to dirt, mildew, and chemicals. Industrial coatings are specially engineered products for protection against corrosion, wear-resistance and provide better aesthetics. It is a skinny film applied to varied concrete, steel, and other industrial materials. These films are used with polymers such as acrylic, polyurethane, epoxy, alkyds and polyester.

Industrial coatings market report is segmented on the basis of resin, technology, end-use industry and by regional & country level. Based upon resin, industrial coatings market is classified into polyurethane, epoxy, acrylic, polyester, and alkyd. Based upon technology, industrial coatings market is classified into solvent, water, powder, and high solids. Based upon end use industry, industrial coatings market is classified into industrial, protective, automotive, aerospace, marine, wood and packaging.

Industrial Coatings Market Segmentation

By Resin

• Polyurethane
• Epoxy
• Acrylic
• Polyester
• Alkyd

By Technology

• Solvent
• Water
• Powder
• High Solids

By End-Use Industry

• Industrial
• Protective
• Automotive
• Aerospace
• Marine
• Wood
• Packaging

Industrial Coatings Companies

The industrial coatings market report covers prominent players are

• The Chemours Company
• The Sherwin-Williams Company
• Axalta Coating Systems
• Jotun A/S
• Nippon Paint Holdings Co., Ltd. 
• NOROO Paint & Coatings Co Ltd
• Akzo Nobel N.V.
• PPG Industries, Inc.
• RPM International Inc.
• Kansai Paint Co. Ltd.
• Tikkurila OYJ
• Hempel A/S
• Teknos Group
• WEILBURGER Coatings GmbH
• Others.

Hempel launched new coating solution for heavy duty equipment and truck OEMs

News: May 15, 2019 – worldwide coatings manufacturer Hempel launched a new epoxy primer for heavy duty equipment and trucks - Hempaprime Shield 700 HS. This new coating is specifically designed to improve productivity and quality for original equipment manufacturers (OEMs) by reducing production times and maximizing service life. It is specifically designed to optimize production. This robust coating provides improved crack and wrinkle resistance even at a high dry film thickness (DFT) and dries to a smooth finish without the need for sanding.

Industrial Coatings Market Dynamics 

Growing construction industry with the automotive, general industrial, coil, wood, aerospace, railing and packaging coatings in emerging economies is key impacting factors deriving the growth of the global industrial coatings market. Industrial coatings are used to protect walls, floors, and roofs against heavy rainfall, strong wind and snowfall due to these properties the demand will increase. According to the BMRC, 2.2% increases (USD44 billion) in U.S. healthcare construction spending in 2019. Moreover, rise in investment in the global construction sector, rapid urbanization and rise in infrastructure spending; these factors will increases the market growth in forecast period. According to the Our World in Data, more than 4 billion people live in urban areas across the globe. However, high cost with limited resources of raw materials and stringent government rule & regulation by using chemicals in coatings will hamper the development of industrial coatings market. However, innovative technology in industrial sectors and the increasing investment in research and development are expected to boost the opportunity for the growth of industrial coatings market.

Industrial Coatings Market Regional Analysis

North America is dominating the industrial coatings market due to rising awareness among the people about advanced development in coatings like low polluting coating technologies, rapid economic recovery, growth in urbanization and increase in government efforts to enhance industrial infrastructure.  According to The American Coatings Association (ACA), there were over 46,900 paint and coatings establishments in the United States in 2016. As per ACA, The U.S. paint and coatings industry exports to Canada (USD1.3 billion) and Mexico (USD588 million) totaled USD1.6 billion combined in 2017.

The Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period with due to the increase in construction industries. Moreover, the presence of major manufacturers such as Nippon Paint Holdings Co. Ltd, PPG Industries Inc, Kansai Paint Co. Ltd and BASF SE due to minimize labor cost for production and availability of effective infrastructure in emerging countries, such as China and India to help in serving the product in the region. These are the major factors increase the growth of markets in forecast period. In Addition, growing consumption of industrial coatings in oil and gas industries in the major countries like Saudi Arabia, the UAE, and Turkey are contributing to regional market growth in forecast period. According to The American Coatings Association (ACA), the third largest export market for U.S. paint and coatings products was China at USD 100 million in 2017.

By Regional & Country Analysis

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Industrial Coatings Market Report Coverage

Report Analysis	Details
Historical data	2015 - 2020
Forecast Period	2021 - 2028
Market Size in 2022:	USD 96.05 Billion
Base year considered	2021
Forecast Period CAGR %:	3.55%
Market Size Expected in 2029:	USD 122.62 Billion
Tables, Charts & Figures:	175
Pages	200
Industrial Coatings Companies	The Chemours Company, The Sherwin-Williams Company, Axalta Coating Systems, Jotun A/S, Nippon Paint Holdings Co., NOROO Paint & Coatings Co Ltd, Akzo Nobel N.V., PPG Industries, RPM International Inc., Kansai Paint Co. Ltd., Tikkurila OYJ, Hempel A/S, Teknos Group, WEILBURGER Coatings GmbH, Others.
Segments Covered	By Resin, By Technology, By End-Use Industry
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa