Mar 1, 2022   SOURCE: BusinessWire

Worldwide Industrial Coating Industry to 2027 - Featuring PPG Industries, Akzo Nobel and BASF Among Others - ResearchAndMarkets.com

The "Industrial Coating Market" report has been added to ResearchAndMarkets.com's offering.

The global Industrial Coating market is estimated to grow from USD 85,200 million in 2020 to USD 103,200 million by 2027, at a CAGR of 3.9%.

Factors such as rising demand for long-lasting goods and the increased use of powder coatings are projected to provide several prospects for growth in the industrial coatings industry. The market's expansion is being aided by rising demand for protective coatings and increased use of corrosion coatings. The negative environmental impact of solvent-borne coatings is anticipated to stymie industry growth.

Rising demand for long-lasting products is expected to provide opportunities for the industry in the future.

Market Segmentation Analysis

Based on the End-user industry, the market is segmented into General Industrial, Protective, Automotive OEM, Automotive Refinish, Industrial Wood, Coil, Packaging, Marine, Aerospace, Rail. Automotive segment has largest market share during the forecast period. Automotive OEM is an essential component of the automotive production process. Coatings improve the quality and durability of automobile equipment. Automotive OEM coatings provide superior mechanical qualities that protect vehicles from scratches, environmental damage, and chemical exposure. Coating the interior of a vehicle improves the surface area of the vehicle's body.

COVID-19 Impact on the Industrial Coating Market

The breakout of COVID-19 has had a detrimental influence on demand for industrial coatings in a variety of applications, including general industry, automotive, and electronics, as a result of stopped manufacturing operations, supply and transportation constraints, and a global economic slowdown in 2020. Furthermore, the resumption of industrial operations is expected to boost demand for industrial coatings in the future years.

Regional Analysis

Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. Asia-Pacific is expected to have the largest revenue share. India is a dominant country in the Asia-Pacific area. The market is primarily driven by the availability of low-cost labour, low raw material prices, and the region's rising urban population. The construction business in India has also been growing at a quicker rate, aided by government investments in infrastructure development; new projects such as metros, bridges, and buildings are being built across the country.

Key Players

The key players profiled in Industrial Coating market analysis PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Axalta Coating Systems, LLC, Jotun, BASF SE, Henkel AG & Company, KGaA, Nippon Paint Holdings Co., Ltd., Hempel A/S, Beckers Group.

Market Segmentation

By End-user industry

  • General Industrial
  • Protective
  • Automotive OEM
  • Automotive Refinish
  • Industrial Wood
  • Coil
  • Packaging
  • Marine
  • Aerospace
  • Rail

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Companies Mentioned

  • PPG Industries Inc.
  • Akzo Nobel N.V.
  • The Sherwin-Williams Company
  • Axalta Coating Systems LLC
  • Jotun
  • BASF SE
  • Henkel AG & Company
  • KGaA
  • Nippon Paint Holdings Co. Ltd.
  • Hempel A/S
  • Beckers Group

For more information about this report visit https://www.researchandmarkets.com/r/ihgmm6