Base Year
Historical Year
Forecast Year
The global industrial coatings market size is expected to grow at a CAGR of 3.0% between 2024 and 2032. The major drivers aiding the growth of the market include increasing infrastructure development activities, rapid industrialisation, and expansion of automotive manufacturing.
| Global Industrial Coatings Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | XX |
| Market Size 2032 | USD Billion | XX |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 3.0% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 3.5% |
| CAGR 2024-2032 - Market by Country | India | 4.0% |
| CAGR 2024-2032 - Market by Country | China | 3.3% |
| CAGR 2024-2032 - Market by Resin | Polyurethane | 3.6% |
| CAGR 2024-2032 - Market by Technology | Water-Borne Coatings | 3.4% |
| Market Share by Country 2023 | Germany | 4.7% |
An industrial coating refers to the layer of substance applied on a surface to provide it with prevention against corrosion, protection from chemicals, resistance from abrasion, and non-stickiness, in industrial applications. Industrial coatings are applied on the equipment either with the help of a brush and spray or by dipping the components directly into the coating.
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Based on resin, the market is divided into polyurethane, epoxy, acrylic, and polyester, among others. On the basis of technology, the market is segmented into water-borne coatings, solvent-borne coatings, and powder based, among others. Based on end use, the market is categorised into oil and gas, mining, power, infrastructure, marine, and automotive, among other users. By region, the market is segregated into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global industrial coatings market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Solvent-borne coatings account for a significant share of the industrial coatings market owing to their better functionality in humid and open conditions and are expected to generate similar results over the forecast period. Moreover, solvent-borne coatings are premium quality paints providing strength and durability that aid in protecting machines from oil, moisture, salt, and abrasion. They are widely employed in industrial applications and in domains such as marine, oil and gas, and automotive. Advantages such as enhanced functionality and lowered drying time in open and humid conditions are further expected to fuel the popularity of solvent-based coatings in the upcoming years.
| CAGR 2024-2032 - Market by | Country |
| India | 4.0% |
| China | 3.3% |
| Canada | 3.1% |
| France | 2.4% |
| Italy | 2.1% |
| USA | XX% |
| UK | XX% |
| Germany | XX% |
| Japan | 2.1% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Asia Pacific holds a sizable share of the industrial coatings market due to rapid increase in industrialisation which has led to great opportunities for the key players to develop more products for various sectors. With increase in industrialisation, the demand for the industrial coatings has increased, especially from the automotive industry. In the automotive industry, industrial coatings are used as they provide ecological and economic benefits, furthermore, they provide reduced friction and high-quality hardening to automotive components.
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Akzo Nobel NV is a Dutch chemical manufacturing company that was established in 1994 and is headquartered in Amsterdam in the Netherlands. The company manufactures specialty chemicals along with paints, performance coatings, and polymers, among other chemical products, both for individual customers and industries.
Jotun A/S, founded in 1926 and headquartered in Sandefjord, Norway, is a chemical manufacturing company which manufactures paint and coating products including coatings for protection and marine. The company is involved in the marketing of performance coatings and decorative paints, working to create the best quality with constant creativity and innovation.
PPG Industries, Inc. was established in 1883 and has its headquarters in Pennsylvania in the United States. A chemical manufacturing company, PPG manufactures and supplies paints, specialty materials, and coatings across the globe. Other products manufactured and supplied by them include protective and marine coatings, industrial coatings, automotive OEM coatings, and packaging coatings.
Other market players include The Sherwin-Williams Company, and Axalta Coating Systems, among others.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Resin |
|
| Breakup by Technology |
|
| Breakup by End Use |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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Industrial Coatings Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is expected to grow at a CAGR of 3.0% between 2024 and 2032.
The market drivers include increasing infrastructural development activities, rapid industrialisation, and growth of automotive manufacturing.
The key trends of the market are rise in disposable incomes, increasing demand from the oil and gas sector, rising usage in marine applications, and technological advancements.
The various resins in the market for industrial coatings are polyurethane, epoxy, acrylic, and polyester, among others.
The primary technologies for industrial coatings are water-borne coatings, solvent-borne coatings, and powder based, among others.
The significant end uses of industrial coatings in the market are oil and gas, mining, power, infrastructure, marine, and automotive, among other users.
The major regions of the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key players in the global industrial coatings market are Akzo Nobel NV, Jotun A/S, PPG Industries, Inc., The Sherwin-Williams Company, and Axalta Coating Systems, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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