Industrial Coatings Market
Industrial Coatings Market Overview:
Global Industrial Coatings Market was valued to be USD 24.2 billion in 2016 and is expected to reach USD 31.4 billion by the end of 2022, growing at the CAGR of 3.9 % from 2016 to 2022.
Global Industrial Coatings is used in various industries like automotive, building & construction, marine, oil & gas, medical & healthcare and others due to its corrosion resistance property. Industries are looking for innovation in coatings such as increased service life, improve corrosion resistance and bio based coatings that will fuel the industrial coatings market. Strict government regulations regarding disposal of petrochemical products in environment can restrain the market in the coming years.
Global Industrial Coatings are segmented into water based, solvent based and powder based. Liquid or water based coatings accounts for largest market share owing to low Volatile Organic Compound (VOC) content which will lead to less emission of carbon in the environment. These chemicals are generated from industrial, household as well as from daily activities. Therefore, government legislation regarding Volatile Organic Compound (VOC) content has shift the focus more on water based chemicals leading to its growth in the future. Solvent based coatings evaporate easily so oil based coating finds application in automotive OEMs, agriculture equipment’s and construction activities.
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Industrial Coatings Market Insight:
Global Industrial coatings are gaining importance in the market owing to high exposure of metals to wear and tear along with continual degradation. These coatings are used across various industries like marine, aerospace, automotive and wood application. Rising demand of industrial coatings with enhanced lifespan, and improved corrosion resistance is expected to fuel the market growth.
Global Industrial Coatings industry is witnessing significant growth on account of its properties such as excellent fire protection coating solution, corrosion resistance and durability. Industrial Coatings produced based on technology are water borne and solvent borne. Solvent borne technology is projected to account for largest market share but in years to come this scenario might change due to environment hazards. Development in water borne industrial coatings has replaced the solvent borne coatings owing to environmental concern and legislations to limit volatile organic content (VOC) emission. Additionally, growing demand of powder coatings due to solvent free is boosting the industrial coatings industry. Powder coating is used for coating lightning fixtures, electrical components, laptop, computer cabinets, mobile phone, file drawer, toolboxes. Powder coated products does not release VOC which benefit environment thereby, driving industrial coatings demand.
Global Industrial coatings market is fragmented with major manufacturer from North America and some few from Asia Pacific region. Major players in market are adopting strategies such as acquisitions, partnerships, expansion and new technology development. Key market participants are acquiring small players in the market in order to tap large market share. Additionally, manufacturer is collaborating with distributors to increase their presence and meet the global demand. Manufacturers are focusing more on high performance coatings by lowering of greenhouse gases along with development of bio based coatings. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality.
Industrial Coatings Market Key Players:
The major participants of this market are: AkzoNobel N.V, BASF SE, PPG Industries Inc., Valspar (U.S.), Sherwin-Williams Co. Ltd, DuPont Co, NOROO Paints & Coatings, Asian Paints, Burke Industrial Coatings, Industrial Nanotech, Inc. and others.
Industrial Coatings Market Segmentation:
Global Industrial Coatings market is majorly segmented on the basis of types and application. Based on types of industrial coatings the market is segmented into water based coatings, powder coatings, solvent based coatings. Similarly, on the basis of application the market is classified into automotive OEMs, marine coatings, protective & maintenance coatings, coil coatings, packaging coatings, wood coatings and others.
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Study Objectives of Industrial Coatings Market:
To study market overview of Industrial coatings.
To estimate market size by types, by application and region.
To provide insights about market drivers, restrains and opportunities of industrial coatings market.
To provide geographical market analysis and outlook for North America, Europe, Asia, and rest of the world (ROW).
To analyze the global industrial coatings market based on various factors like supply chain analysis, Porters Five Force analysis etc.
To provide strategic profiling of key players in the market, broadly analyzing their core competencies.
To evaluate competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global industrial coatings
Industrial Coatings Market Table of Content:
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat of New Entrants
4.1.2 Bargaining Power of Buyers
4.1.3 Threat of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain of Global Industrial Coatings Market
5 Industry Overview of Global Industrial Coatings Market
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
5.5 Impact Analysis
Industrial Coatings Market Table of Content to be Continue……..,
Complete table of content is available at @ https://www.marketresearchfuture.com/reports/industrial-coatings-market-2136
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