(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Sep 24, 2021, 05:29 /Comserve / -- The industrial coatings market size is expected to grow from USD 107.4 billion in 2019 to USD 139.0 billion by 2024, at a CAGR of 5% during the forecast period.
The industrial coatings market size is expected to grow from USD 107.4 billion in 2019 to USD 139.0 billion by 2024, at a CAGR of 5% during the forecast period. The increasing demand for eco-friendly coatings, the need for efficient process & durable coatings with better aesthetics, and growing demand from the APAC region are expected to drive the industrial coatings market. However, difficulty in obtaining thin films in powder coatings and the requirement of more drying time for water-based coatings are the major restraining factors for the market.
Fluoropolymers offer excellent thermal, chemical, and weather resistance, as well as optical properties. These characteristics make fluoropolymer-based industrial coatings suitable for industries such as chemical, oil & gas, textile, paper, and plastics. Fluoropolymer resins are used mainly in coil coatings, as they have a high resistance to high temperatures, resulting in negligible hurdles for forming a coating. In the automotive industry, fluoropolymer-based industrial coatings are used for ball bearings to reduce friction and resist corrosion. In the aerospace industry, these coatings are useful in cabin interiors, wheels, and bearings to resist fire and corrosion. Apart from these, the consumer appliances industry, including mixing blades, non-stick cookware, cutting blades, and molds, uses fluoropolymer coating.
Fill This Form and get the Sample Copy of This Report:
The Final Report will cover the impact analysis of COVID-19 on this industry: Industrial Coatings Market Future Growth, Revenue Analysis, Demand Forecast to 2024
Powder-based industrial coatings are highly efficient with over 98% powder overspray recoverability, more resistant to chipping, scratching, fading, and wearing than other finishes. This process releases negligible VOC into the environment and takes less cure time beyond the cool-down period. Powder-based industrial coatings emit low levels of VOCs, providing superior performance and cost efficiency for applications that require maximum abrasion resistance, and hardness.
The general industrial and automotive segments are the largest end-user industries of industrial coatings. Population growth, improved standard of living, infrastructure growth, global GDP growth, and recovery and growth in the construction industry are driving the growth of the general industries. Automotive OEM is an integral part of automotive manufacturing. Coatings offer excellent quality and durability to automotive equipment. Industrial coatings possess superior mechanical properties that protect automobiles from scratches, environment, and chemical exposure. Interior automotive coatings improve the surface area. Increasing automobile production in some parts of the world is expected to drive the demand for industrial coatings.
Fill This Form and get the Sample Copy of This Report:
The Final Report will cover the impact analysis of COVID-19 on this industry: Industrial Coatings Market Future Growth, Revenue Analysis, Demand Forecast to 2024
APAC has emerged as the leading consumer and producer of industrial coatings due to the growing manufacturing sector in all major economies of the region. Also, the presence of many large, as well as small industrial coatings producers, is driving the market in the region. The demand for industrial coatings in APAC is driven majorly by consumption in China. Other APAC countries such as Vietnam and India are also witnessing significant investments in the automotive and marine sectors to cater to the demand.
In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the industrial coatings market.
• By company type: Tier 1 – 42%, Tier 2 – 25%, and Others – 33%
• By designation: C Level – 36%, Director Level – 19%, and Others – 45%
• By region: Europe – 42%, North America – 25%, APAC – 17%, South America – 8%, and the Middle East & Africa – 8%
Research Coverage:
The market study covers the industrial coatings market across segments. It aims at estimating the market size and the growth potential of this market, across different segments based on resin type, technology, end-use industry, and region. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall industrial coatings market and the subsegments. This report will also help them understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Furthermore, the stakeholders can understand the pulse of the market and obtain information about key market drivers, restraints, challenges, and opportunities in the market.
TABLE OF CONTENTS
1 INTRODUCTION 19
1.1 OBJECTIVES OF THE STUDY 19
1.2 MARKET DEFINITION 19
1.3 MARKET SCOPE 20
1.3.1 MARKET SEGMENTATION 20
1.3.2 YEARS CONSIDERED FOR THE STUDY 20
1.4 CURRENCY 21
1.5 UNIT CONSIDERED 21
1.6 STAKEHOLDERS 21
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
MENAFN24092021004694010674ID1102859449
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.