Industrial Liquid Coatings Market to Witness Substantial Growth over 2025 | Top Key Players Sherwin-Williams, Axalta, Hempel A/S, PPG Industries, AkzoNobel, RPM International Inc., Kansai Paint Co. Ltd.
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An insight into the two basic types of resins used in the manufacturing of coatings:
Polyester is one of the most widely used resins for industrial coatings. Polyester encompasses a superior chemical bond and is ideally temperature resistance to most materials. That said, the resin is also endowed with some other properties – polyester is known to abrasion resistant and provides prolonged corrosion protection. Both the aforementioned characteristics make polyester-based coatings ideal to be used in the marine sector and various other industrial applications, thereby augmenting the commercial landscape of polyester-based industrial liquid coatings market.
Polyester-based industrial liquid coatings industry size was valued at $8 billion in 2017 and is projected to grow at an appreciable pace over 2018-2025. Apart from its excellent properties, a pivotal reason for this industry to depict growth is that polyester coatings have the benefit of being cost efficient compared to other available coatings.
Epoxy is another type of resin that is very widely used in coating production. The principal factors responsible for the deployment of epoxy are its excellent properties – the material is tough, enables quick drying, has a protective nature, and is endowed with other mechanical properties as well. Driven by its highly favorable characteristics and its subsequent benefits in coatings, epoxy manufacturing is generally undertaken on a large scale. As per the AMEC Environment and Infrastructure UK (AMEC) reports, a total of 259,000 tons of epoxy resin was manufactured in 2013, in plants located in Germany, Spain, Netherlands, Poland, and Switzerland.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. Hempel A/S
3. RPM International Inc.
5. Baril Coatings
6. PPG Industries
7. Cardinal Paints & Powder
9. Kansai Paint Co. Ltd.
10. Nippon Paint Holdings Co., Ltd.
11. Advance Paints Pvt. Ltd.
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In 2017, epoxy resin accounted for a commendable 30% of the industrial liquid coatings market share and is anticipated to depict a positive growth graph in the ensuing years. Reportedly, epoxy-based industrial liquid coatings are applied on the inside of cans as a protective coating that prevents corrosion and prolongs the shelf-life of the can and stored food. Additionally, it also serves well in terms of lending an aesthetic look to the can. Similar coatings are also used in the construction of wind turbine blades and metal structures. Owing to the fact that epoxy based coatings are relatively easier to apply as opposed to conventional heat cured powder coatings, they are used across a plethora of applications, thereby impelling epoxy-based industrial liquid coatings market share.
Speaking of epoxy, it is prudent to mention that the resin is widely popular in Europe. According to the AMEC Environment and Infrastructure UK (AMEC), Germany is one of the largest markets for epoxy resins in Europe, and had accounted for sales of sold approximately 88,000 tons of epoxy resin in 2013. This represents an appreciable 35% of all European sales. The UK accounted for the second largest volume of some 11% the same year, while Italy and France both witnessed for around 10% of total epoxy sales. It is thus rather overt that Europe industrial liquid coatings market, that held around $10 billion in 2017, will register a commendable growth rate owing to the surging epoxy production in the region.
One of the vital factors that may possibly restrain the growth of industrial liquid coatings market is the adverse impact on human health caused due to the release of fumes from volatile organic compounds (VOC). As per the United States Environmental Protection Agency’s Total Exposure Assessment Methodology (TEAM) study, people exposed to VOCs experience conjunctival irritation, throat and nose discomfort, allergic skin reaction, headache, nausea, fatigue and dizziness. However, regulatory bodies, in this regard, have enforced certain norms that mandate companies to use less VOC-emitting products. In accordance, bio-based industrial coatings have emerged as the latest trends, adding a new growth dimension to the overall industrial liquid coatings market.
Industrial Liquid Coatings Market By Application
• Agriculture & Heavy Equipment
• Oil & Gas pipelines
• Metal Structures
• Water & Wastewater pipelines
• General Industrial
Browse key industry insights spread across 370 pages with 387 market data tables & 24 figures & charts from the report, “Industrial Liquid Coatings Market” in detail along with the table of contents:
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