Industrial Coatings Market Grow at a 5.91% CAGR to Worth $130.97 Bn by 2022

The industrial coatings market is expected to hit $130.97 Billion by 2022, at a CAGR 5.91% from 2017 to 2022.
The market is largely driven by the increasing demand for industrial coatings from various end-use industries, such as automotive, marine, protective, aerospace, transportation, rail, industrial wood, coil, transportation, packaging, and general industrial.

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The growth of the industrial coatings market can also be attributed to the increased investments by the key players to launch efficient and cost-effective products, as well as for expansion and acquisition activities. The growth of the middle-class population in emerging economies is another important factor driving the industrial coatings market.
Key Target Audience:
1. Manufacturers of Industrial coatings
2. Raw Material Suppliers
3. Manufacturers of Resins and Other Feedstock Chemicals
4. Manufacturers of Important Intermediate Chemicals
5. Government Agencies or Organizations
6. Research Institutions and Organizations
7. End-use Industries (Automotive, Industrial Wood, Coil, Marine, General Industrial, Protective, Rail, Aerospace, Transportation, Packaging)
8. Traders, Distributors, and Suppliers of Industrial coatings
9. Regional Chemical Manufacturers’ Associations
The industrial coatings market has been segmented based on resin, technology, end-use industry, and region. By resin type, the acrylic resin segment dominated the industrial coatings market in 2016.
Some of the key players operating in the industrial coatings market such as
1. AkzoNobel N.V. (Netherlands)
2. PPG Industries Inc. (US)
3. Axalta Coatings Systems (US),
4. BASF Coatings GmbH (Germany),
5. The Sherwin-Williams Company (US),
6. Kansai Paints Co., Ltd. (Japan),
7. Jotun A/S (Norway),
8. RPM International (US),
9. Hempel A/S (Denmark),
This dominance can be attributed to the growing use of acrylic resins in many applications, such as automotive, industrial wood, transportation, marine, and general industrial applications.

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By technology, the solvent-based industrial coatings segment accounted for more than 40% share, in terms of volume, of the overall industrial coatings market in 2016. The solvent-based industrial coatings find applications in trenches, tank interiors, containment lining, flooring systems, and joint overlays. Solvent-based industrial coatings can be used in end-use industries such as automotive, marine, aerospace, coil, rail, packaging, protective, electrical & electronics, energy, industrial coatings, and others.

The general industrial coatings segment is the largest end-use industry segment of the industrial coatings market, in terms of volume. The demand for these coatings for domestic appliances and corporate offices in the developed and developing countries is leading to the increased usage of general industrial coatings.

The growth of the industrial coatings market mostly depends on the economic growth of different regions, which in itself is dependent on the global political situation. The political situation is critical in many regions of the world, which may deter the availability of some ink resins used as raw materials for the manufacturing of industrial coatings.

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This release was published on openPR.