Industrial Coatings Market: Rising Demand for Better Durability Of Auto Parts to Boost Market Revenue

The rising demand for better durability of auto parts is a key factor predicted to bolster healthy growth of the market during the forecast period, says Fortune Business Insights™ in a report, titled “Industrial Coatings Market Size, Share & Industry Analysis, By Resin Type (Epoxy, Alkyd, Acrylic, Polyurethane, Polyester), By Technology (Water based, Solvent based, Powder, High Solids, Others) By End-Use Industry (Packaging, Automotive, Industrial wood, Aerospace, Marine, Rail, Others) and Regional Forecast, 2019-2026” the high requirement for industrial coatings from the automotive end-use industry is predicted to enable growth of the market.

Browse Report Summary:
https://www.fortunebusinessinsights.com/industry-reports/industrial-coatings-market-101741

List of the Major Companies in the Global Industrial Coatings Market Include:

 PPG Industries, Inc.
 Akzo Nobel N.V.
 NOROO Paint & Coatings Co. Ltd
 Axalta Coating Systems
 The Sherwin-Williams Company
 RPM International Inc.
 Hempel A/S
 Nippon Paint Holdings Co. Ltd.
 WEILBURGER Coatings GmbH
 Jotun A/S
 The Chemours Company
 and Teknos Group.

According to the report, the industrial coatings market based on technology is divided into water-based, solvent-based, powder, high solids, and others. The solvent-based segment is predicted to account for a high share during the forecast period owing to its qualities such as low chemical reaction, non-evaporative, higher gloss level, prevent corrosion, and highly flexible. Solvent-based coatings have various applications in marine, automotive, aerospace, and other end-use industries.

Furthermore, the industrial coatings market based on the end-use industry is classified into packaging, automotive, industrial wood, aerospace, marine, rail, and others. The automotive end-use industry is the fastest growing industry owing to the growing demand for more durable parts of automobiles, better quality interior and exterior coating to protect from heat damage, scratches, and chemical exposure. Additionally, the growing production of cars is predicted to boost the industrial coatings market share in the forthcoming years.

The report on the industrial coatings market size focuses on demonstrating a complete assessment of the market. It contains facts, thoughtful insights, historical information, industry-validated market information, and projections with a suitable set of assumptions and methodology.

It offers valuable insights into all the notable developments of the market. It shares a complete overview of all the segments & parts of the market and also provides statistical data on all the regions. It is created after extensive research followed by an all-encompassing analysis to benefit companies, stakeholders, financers, and potential investors. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and industry developments.

Announcement of PPG ENVIROCRON® by PPG to Spur Growth Opportunities

The launch of a new production line by PPG is predicted to bolster the healthy growth of the market during the forecast period. For instance, in March 2019, PPG announced a new production line of PPG ENVIROCRON® Extreme Protection Edge coatings specially formulated to cover the sharp edges of parts created during metal fabrication and provide superior corrosion protection in one-coat. Furthermore, the launch of a pioneering fouling defence system by Hempel is likely to accelerate the industrial coatings market revenue in the forthcoming years.

For instance, in May 2019, Hempel launched an innovative fouling defence system – Hempaguard MaX, which is a unique three-coat system reducing drag and results in fewer fuel requirements for vessels and will maximize efficiency and reduces operational costs. In addition, the partnership between Axalta and Farrell-Calhoun paint is likely to create lucrative sales opportunities for the market. For instance, in July 2019, Axalta formed an alliance with Farrell-Calhoun paint, distributor for the industrial wood coatings market to expand its distribution in the Southern East region.

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High Demand for Eco-Friendly Coating to Aid Expansion in North America

Geographically, the market is divided into North America, South America, Asia Pacific, Europe, Middle East & Africa. North America and Europe are expected to grow rapidly during the forecast period owing to the increasing demand for eco-friendly coating. Asia Pacific is predicted to witness significant growth in the forthcoming years due to the rising demand from the automotive end-use industry.

The increasing manufacturing and easy availability of raw materials is predicted to support the growth of the industrial coatings market in Asia Pacific. Additionally, China is the major consumer of industrial coatings due to the high demand from the automotive end-use industry as a result of industrialization and growing population rate.

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