Press release
Global Industrial Liquid Coatings Market Forecast By Key Players: Hempel A/S, RPM International, Baril Coatings, PPG Industries, Kansai Pain, Sherwin Williams
Global Market Insights
Industrial liquid coatings market is segregated into resin, product, application and region. The resin segment includes epoxy, acrylic, polyester, polyurethane and others. In terms of volume, acrylic based coatings segment will clutch over 15% of the entire market share in 2025. Properties such as excellent chemical resistance, color & gloss retention, outstanding early moisture resistance, flash rust/early rust resistance, etc. makes it suitable for use over steel, aluminum, and zinc rich primers. These coatings have wide end-use application on equipment, machineries, power plants, piping and steel structures as well.
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Growth in oil & gas industry around the world is a major factor prompting the growth of industrial liquid coatings market positively in coming years. The product is extensively used on oil & gas pipelines and equipment involved in exploration and drilling activities. It provides them resistance from corrosion, harmful oils, gases, acids, extreme weather conditions, etc. Rising crude oil prices along with advent of cost effective drilling & exploration techniques has given boost to the upstream and midstream sectors across the globe.
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.
New administrations of developed economies such as the U.S. are focusing on expanding their oil & gas industry to become energy self-sufficient. It is also expected that the North America region will add highest pipeline length of around 60 thousand kilometers by 2021. This will subsequently propel product market demand over the forecast timespan.
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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.
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.
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.
The market is highly fragmented with the presence of small, medium and large players across the globe. Some of the major industrial liquid coatings market players include RPM International Inc., Axalta Coatings Systems, Baril Coatings, Akzo Nobel, Hempel and Nippon Paints.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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