In-depth analysis and data-driven insights on the impact of COVID-19 included in this global industrial coatings market report.
The global industrial coatings market is expected to grow at a CAGR of approximately 4% during the period 2020−2026.
Key Highlights Offered in the Report:
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Industrial Coatings Market – Segmentation
Industrial Coatings Market by Resin Type
Industrial Coatings Market by Technology
Industrial Coatings Market by End-user
Industrial Coatings Market – Dynamics
Customers are prioritizing products that are environment friendly. In the industrial coatings market, sustainability is the key enabler to adapt to the constantly changing environmental regulations. Stricter environmental regulations are in place owing to increasing awareness among consumers about the harmful effects of VOC. The demand for coatings with lower VOC, solvent-based coatings, and water-based coatings is increasing. Coatings with low levels of volatile organic compounds are safer for the environment and their users. Coatings are majorly used in the manufacturing, automotive, and construction industries. Owing to the growth of the construction sector and increasing industrialization, urbanization, and infrastructural developments in APAC, the demand for coatings is expected to increase in the region. APAC is also witnessing higher demand for coatings with low VOC content. Japan is expected to witness high demand for coatings with low VOC content during the forecast period. However, the demand for environment-friendly coatings is less in the Latin American and Middle East and African regions.
Key Drivers and Trends fueling Market Growth:
Industrial Coatings Market – Geography
APAC is considered to be one of the strongest markets for industrial coatings. In the APAC region, China is the biggest market and accounts for 60% market share in the region. In Asia, India and South Korea are the rapidly growing coatings markets. Japan and South Korea are significant coatings markets with large number of production bases for electronics, automotive, chemicals, and appliances. The south-east Asian region includes Thailand, Indonesia, Singapore, Malaysia, Vietnam, Cambodia, Laos, and the Philippines. The region represents high growth potential as majority of the market comprises of decorative coatings.
Industrial Coatings Market by Geography
Major Vendors
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