Industrial Coatings Market by Application, Technology, and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR70983
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The industrial coatings market has the potential to grow by USD 16.74 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.72%.

This industrial coatings market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by application (general industrial, automotive OEMs, automotive refinishes, and others), technology (waterborne, solvent-borne, powdered coatings, and UV-cured), and geography (APAC, Europe, North America, MEA, and South America). The industrial coatings market report also offers information on several market vendors, including Akzo Nobel NV, Allnex Netherlands BV, Arkema SA, Axalta Coating Systems Ltd., BASF SE, Covestro AG, Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., PPG Industries Inc., and The Sherwin-Williams Co. among others.

What will the Industrial Coatings Market Size be in 2021?

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Industrial Coatings Market: Key Drivers and Trends

The surging demand for waterborne coatings is notably driving the industrial coatings market growth, although factors such as volatile raw material prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the industrial coatings industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The surging demand for water-borne coatings is one of the key factors expected to trigger the market's growth in the forthcoming years.
  • Waterborne coatings have lower VOC levels, hazardous air pollutants (HAP) emissions, and release fewer organic compounds when compared to solvent-borne coatings.
  • Waterborne coatings are witnessing significant demand from mining, buildings and construction, automobile, aerospace, oil and gas, and metal forming as they do not need thinners, additives, or hardeners.
  • The gradually increasing focus on UV-curable coatings and nanocoatings is one of the key industrial coatings market trends expected to gain prominence in the market.
  • UV-cured coatings offer several advantages including quick drying time, increased operational speed, superior abrasion, and adhesion.
  • The growing popularity of nanocoatings owing to their excellent properties will further boost the market's growth.

This industrial coatings market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Industrial Coatings Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Akzo Nobel NV
  • Allnex Netherlands BV
  • Arkema SA
  • Axalta Coating Systems Ltd.
  • BASF SE
  • Covestro AG
  • Kansai Paint Co. Ltd.
  • Nippon Paint Holdings Co. Ltd.
  • PPG Industries Inc.
  • The Sherwin-Williams Co.

 

This statistical study of the industrial coatings market encompasses successful business strategies deployed by the key vendors. The industrial coatings market is fragmented and the vendors are deploying growth strategies such as differentiating their products to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The industrial coatings market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Industrial Coatings Market?

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56% of the market’s growth will originate from APAC during the forecast period. China is a key market for industrial coatings in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The growing production of automobiles and related components will facilitate the industrial coatings market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Industrial Coatings Market?

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The industrial coatings market share growth by the general industrial segment will be significant during the forecast period. The general industrial coatings segment includes waterborne coatings, solvent-borne coatings, and powder coatings. Factors such as the growing demand for industrial coatings from the construction industry and rising GDP in emerging economies are expected to drive the growth of the general refinishes segment at a high rate. Also, the continuously increasing infrastructure spending in APAC is expected to foster the demand for industrial coatings in the general industrial coatings segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the industrial coatings market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Industrial Coatings Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive industrial coatings market growth during the next five years
  • Precise estimation of the industrial coatings market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial coatings industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of industrial coatings market vendors

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Industrial Coatings Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 3.72%

Market growth 2021-2025

$ 16.74 billion

Market structure

Fragmented

YoY growth (%)

2.90

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 56%

Key consumer countries

China, Germany, US, France, and Canada

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Akzo Nobel NV, Allnex Netherlands BV, Arkema SA, Axalta Coating Systems Ltd., BASF SE, Covestro AG, Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., PPG Industries Inc., and The Sherwin-Williams Co.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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