Market Dynamics

Rapid technological advancements in coating technology, increasing demand for eco-friendly products with enhanced properties, coupled with increasing demand for advanced coating solution from various end use industries are major factors expected to drive the growth of global market.

Major players approach towards business development through merger & acquisitions and innovative product launched in order to attract new customers and enhance the product portfolio is another factor expected to further augment the growth of target market.

• In 2020, Axalta acquired Capital Paints LLC, a UAE-based thermosetting powder coatings manufacturer. This acquisition is expected to help the company to enhance the presence and extend its product portfolio.
• In 2019, Axalta a global supplier of liquid and powder coatings products partnered with distributor Farrell-Calhoun Paint for the industrial wood coatings market. This is expected to help the company to enhance the customer base.
• In 2020, Axalta a global supplier of liquid and powder coatings introduced new collection of industrial powder coatings in Mexico. This is expected to help the company to enhance the customer base in Mexico region and increase the profit ratio.
• In 2019, Axalta a global supplier of liquid and powder coatings launched Tufcote Liquid Industrial Coatings Portfolio. Tufcote 3.0 PR is a mainstream, high-performance, competitively-priced epoxy primer developed to support the agricultural, construction, and earthmoving equipment (ACE) and general industrial markets. This is expected to help the company to enhance the product portfolio and increase the customer base.
• In 2019, Axalta a global supplier of liquid and powder coatings introduced Wood Vibes a new edition of its industrial wood coatings. This is expected to help the company to attract new customer and aid in positive growth of the company.

Players approach towards emerging economies in order to enhance the profit ratio is another factor expected to further support the growth of target market.

However factors such as rising environment concern and stringent government regulations related to product approval are expected to hamper the growth of global industrial coatings market. In addition, technological difficulty such as obtaining thin films in powder coatings is another factor expected to challenge the growth of target market.

Increasing investment for R&D activities along with approach towards development of products with the use of nano-coating are factors expected to create new opportunities for players operating in the target market over the forecast period.

Industrial Coatings Market Segment Analysis, 2019

The global industrial coatings market is segmented into product, technology, and end use. The end use segment is further bifurcated into general industrial, marine, automotive & vehicle refinish, electronics, aerospace, oil & gas, mining, power generation, and others. Among technology the water borne segment is expected to witness faster growth in the global market over the forecast period.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to rising demand form aerospace industry. In addition, presence of large number of players operating in the country, high investment for R&D activities and innovative product offerings are factors expected to further support the growth of target market.

Asia Pacific is expected to witness faster growth in the near future owing to rising demand from automotive sector. In addition, developing regulatory scenario and favorable business policies is attracting players operating across the globe to developing countries this is another factor expected to further boost the growth of target market.

Competitive Landscape

The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

The market research study on “Industrial Coatings Market (Product: Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others; Technology: Solvent Borne, Water Borne, Powder Based, and Others; End Use: General Industrial, Marine, Automotive & Vehicle Refinish, Electronics, Aerospace, Oil & Gas, Mining, Power Generation, and Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027”, offers a detailed insights on the global industrial coatings market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global industrial coatings market segment by product, technology, end use and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global industrial coatings market size and segment markets by product, technology, end use and geography along with the information on companies operating in the market. The industrial coatings market analysis is provided for major regional market including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report. The players profiled in the report Akzo Nobel N.V., Axalta Coating Systems, The Sherwin-Williams Company, Nippon Paint Holdings Co., Ltd., Jotun A/S, RPM International Inc., Kansai Paint Co., Ltd., Hempel A/S, PPG Industries, Inc., Tikkurila Oyj, Teknos Group, WEILBURGER Coatings GmbH.

Market Segmentation

Market By Product

• Acrylic
• Alkyd
• Polyurethane
• Epoxy
• Polyester
• Others

Market By Technology

• Solvent Borne
• Water Borne
• Powder Based
• Others

Market By End Use

• General Industrial
• Marine
• Automotive & Vehicle Refinish
• Electronics
• Aerospace
• Oil & Gas
• Mining
• Power Generation
• Others

Market By Region

North America

• US
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest if Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Meddle East & Africa