Organic coating is a type of coating whose ingredients are derived from either vegetable or animal matter. These coatings are rich in hydrocarbon. Organic coatings are used to provide additive type finishes on materials on which they are applied. These coatings enable to change the surface properties of substrate such as adhesion, wettability, corrosion resistance, and wear resistance.
Organic coatings are applied on metallic materials for protection against corrosion. These coatings improve the durability and stability of metal surface. The organic coating market has been expanding owing to the rise in environmental concerns and increase in demand for green materials. Organic coatings are sustainable. This has led boosted the adoption of these coatings in end-user industries such as automotive and building & construction. Apart from being an eco-friendly substitute of inorganic coatings, organic coatings offer several benefits such as cost effectiveness and longer sustainability in moisture. However, the lower heat resistance of organic coatings is expected to act as a restraint of the organic coating market.
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Organic Coating Market: Segmentation Outlook
The global organic coating market can be segmented based on type, end-user industry, and region. In terms of type, the organic coating market can be classified into waterproof coatings, steel coatings, dry film lubricant coatings, and Xylan Coatings. The waterproofing coatings segment can be sub-segmented into liquid waterproof coatings and dry waterproof coatings. Waterproof coatings are primarily used in building & construction activities. Asia Pacific using majority amount of waterproofing organic coatings & the coating market is growing with increase in population & migration especially in India due to urbanization. Steel coatings are used in oil & gas, building & construction, transport, and automotive industries. The steel coatings segment is expected to maintain its dominance during the forecast period due to expansion in oil & gas and building & construction industries.
Xylan coatings is a family of fluoropolymer coatings designed for original equipment manufacturers. Most Xylan coatings contain PTFE or other types of lubricants. These coatings are applied in thin films. Xylan coating is a dry film lubricant. It is used in coating of nuts and bolts.
Based on end-user industry, the organic coating market can be segregated into automotive, aerospace, construction, oil & gas, and are using metals. Over the metal surface organic coatings are applied, to prevent corrosion, improve durability and stability of metal surface. So, oil & gas and construction has high demand simultaneously increase in organic coating market.
Organic Coating Market: Regional Outlook
Based on region, the global organic coating market can be split into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. In terms of revenue, Asia Pacific is expected to hold major share of the market during the forecast period. China dominates the market in the region due to the increase in number of oil and gas activities and growth in infrastructure in the country. From 2018, the Chinese automotive sector witnessed the increase in use of New Energy Vehicles (NEVs). China led the production of NEVs, thus making the country open to international automobile manufacturers.
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Organic Coating Market: Key Players
The global organic coating market is fragmented. Large numbers of companies operate at global and regional levels. Prominent companies include Hi-Tech Metal Finishing, Plating Technology, Anochrome Group, DeKalb Metal Finishing, Sherwin Williams Co., BASF SE, and Organic Coatings Ltd.