Press release
Industrial Coatings Market to Reach USD 128.8 Billion by 2028, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
Request a free sample report: https://www.stratviewresearch.com/Request-Sample/3646/industrial-coatings-market.html
Market Statistics
• Market size (2022): USD 106 billion
• Forecast value (2028): USD 128.8 billion
• CAGR (2023-2028): 2.74%
• Forecast period: 2023-2028
• Base year: 2022
• Total number of segments: 4
• Tables & figures: 100+
• Country-Level Market Assessment: 20
MARKET SEGMENTATION
By Resin Type
• Polyurethane
• Epoxy
• Acrylic
• Alkyd
• Others
By Technology Type
• Solvent-based
• Water-based
• Powder
• Others
By End-Use Industry Type
• General Industrial
• Protective
• Automotive
• Aerospace
• Wood
• Packaging
• Others
By Region
• North America
• Europe
• Asia-Pacific
• Rest of the World
SEGMENT ANALYSIS
In the Resin Type category, the acrylic segment is expected to be the dominant segment during the forecast period due to its superior corrosion resistance, good adhesion, barrier properties, and fast-drying characteristics, making it suitable across automotive, aerospace, and general industrial applications. This dominance suggests coating producers should prioritize acrylic-based formulations for broad market coverage.
Under Technology Type, the solvent-based segment is both the dominant and fastest-growing segment, supported by its widespread use in demanding environments such as oil & gas, marine, and heavy industrial sectors, where performance under harsh conditions is critical. This trend highlights opportunities for technology enhancements that balance performance with environmental compliance.
Within End-Use Industry Type, the protective segment is anticipated to retain the largest share as industries continue to adopt coatings that safeguard materials against chemicals, abrasion, extreme temperatures, and moisture, driving strategic investment by suppliers into high-performance protective solutions.
REGIONAL INSIGHTS
Asia-Pacific is projected to remain the largest market for industrial coatings throughout the forecast period, propelled by rapid industrialization, large-scale infrastructure development, and strong demand from automotive and vehicle refinishing industries, reinforcing its role as the key region for market expansion.
MARKET DRIVERS
• Expanding demand from automotive and vehicle refinishing sectors increases need for durable coatings.
• Infrastructure development across emerging economies drives coatings use for corrosion protection.
• Growth in industrial production enhances the requirement for surface protection in manufacturing facilities.
• Rising adoption of high-performance coatings in aerospace and protective industries supports market growth.
• Demand for coatings that withstand extreme environmental conditions fuels segment uptake.
COMPETITIVE LANDSCAPE
Top Companies in the Market
• Akzo Nobel N.V.
• Axalta Coating Systems, LLC
• BASF Coatings GmbH
• Hempel A/S
• Jotun A/S
• Kansai Paint Co., Ltd.
• Nippon Paint Holdings Co., Ltd.
• PPG Industries Inc
• RPM International, Inc.
• The Sherwin-Williams Company
FAQs
1. What was the value of the industrial coatings market in 2022?
USD 106 billion.
2. What is the expected market value of industrial coatings by 2028?
USD 128.8 billion.
3. What CAGR is the industrial coatings market forecast to grow at during 2023-2028?
2.74%.
4. Which resin type segment is dominant in the industrial coatings market?
Acrylic is the dominant resin type.
5. Which region accounts for the largest share of the industrial coatings market?
Asia-Pacific is the largest regional market.
Related Links:
Iot in aviation market : https://payrchat.com/blogs/38364/iot-in-aviation-market
Iot in banking and financial services market: https://www.wowonder.xyz/read-blog/366034
Iot managed services market : https://ivebo.co.uk/read-blog/232133
Iot microcontroller market : https://zekond.com/read-blog/294761
Ip telephony market : https://vintfint.com/blogs/110446/IP-Telephony-Market-Forecast-2028-Innovations-Growth-Drivers-and-Future
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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