Industrial Liquid Coatings Market Forecast by Key Players: Nippon Paints, Hempel, Axalta Coating, Kansai Paint, Akzo Nobel, Baril Coatings, and RPM International
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The product segment further segmented into liquid top coats, liquid primers, metal conditioners, e-coats and other. In terms of revenue, e-coats will account for more than 10% of the overall segment share by 2025. E-coats or electrocoats are high-performance products that are formulated to provide reliable mechanical strength and superior corrosion protection. The product is mostly used on hot rolled steel, galvanized steel, aluminum, magnesium etc. in agriculture, construction & earthmoving equipments, as well as automotive & electrical appliances manufacturing industries.
General industrial segment is likely to clutch the highest share of over 60% by 2025 with a wide range of industries covered under this segment. It includes industries such as home appliance manufacturing, food & beverage, textiles, steel, pharmaceutical, containers and packaging, etc. Growing demand for various household products due to rise in spending capacity of the global population will result in growth of general industrial sector.
On the basis of application oil & gas pipelines will observe an annual growth rate of 6% over the forecast timespan. The product provides exceptional corrosion protection to external and internal pipes for gas risers, hydrants and oil & gas pipelines. The product also provides mechanical, chemical resistance along with gloss and color retention to the machines used in agricultural & heavy equipment segment.
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Industrial Liquid Coatings Market By Resin
Recycled Elastomers Market By Application
• Agriculture & Heavy Equipment
• Oil & Gas pipelines
• Metal Structures
• Water & Wastewater pipelines
• General Industrial
North America market will experience a CAGR of over 6.5% from 2018 to 2025 due to the presence of extensive general industrial sector in the region. Also, the region has the largest network of oil & gas transmission pipelines combining both U.S. and Canada. Upliftment of ban on U.S. for crude oil export results in expansion of pipeline network in region, driving the growth of product market positively in coming years.
Based on volume, Asia Pacific industrial liquid coatings market will witness the growth rate around 7%. Significant rise in manufacturing industries in Asian Countries such as China, South Korea and India will subsequently augment the entire industry demand in future.
The industrial liquid coatings market is very fragmented as numerous large, medium and small players are present in the industry across the globe. Some of the key industry giants are Nippon Paints, Hempel, Axalta Coating, Kansai Paint, Akzo Nobel, Baril Coatings, and RPM International.
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