New York, NY -- (SBWIRE) -- 10/23/2020 -- Industrial coatings are paints or chemicals that are applied partially or fully to protect a surface, which is usually referred to as the substrate. They protect surfaces, such as iron, aluminum, steel, plastic, glass, and wood, among others, from wear & tear. The demand for various kinds of industrial coatings is on the rise owing to their protective & functional properties including abrasion, corrosion, fire, chemical, & UV-resistance. Furthermore, they enhance the aesthetics of the surface to which they are applied; however, protecting the surface is the primary goal of applying an industrial coating to a surface.

Prominent Players:

Some of the prominent players in the global industrial coating market include BASF SE, Akzo Nobel N.V., Jotun A/S, Axalta Coating Systems, LLC, Nippon Paint Holdings, Hempel A/S, PPG Industries Inc., The Chemours Company FC, LLC, The Sherwin-Williams Company, and Henkel among others.

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Growing Factors:

The applications of industrial coatings in a broad spectrum of applications, such as general industrial, automotive & transportation, aerospace, marine, wood, and packaging, is one of the primary factors that is driving the market growth of industrial coatings. The growing demand for environment-friendly coatings owing to stringent Volatile Organic Compound (VOC) norms in different countries will also play a significant role in boosting the overall market growth. Similarly, the high demands for nano-coatings, self-cleaning coatings, and self-healing coatings during recent times will fuel the market growth notably during the forecast period. Moreover, high demand from the Asia Pacific region will also be a key growth contributor. The ever-increasing need for industrial coatings with better durability and improved aesthetics will present new growth opportunities to new & established market players.

On the downside, stringent VOC regulations are enforced by regulatory authorities such as the Occupational Safety and Health Administration (OSHA), the Environmental Protection Agency (EPA), and the California Air Resource Board (CARB). These regulations curtail the manufacture of industrial coatings that contribute extensively to the formation of ozone. Furthermore, there are technological challenges involved when it comes to meeting the customers' exact demands. These are some of the primary factors that are curbing market growth to a certain extent.

The ongoing COVID-19 pandemic has been impacting both the automotive and the general industrial sector. Labor shortages and restrictions imposed during lockdowns in various parts of the world will affect the industrial coatings market adversely. However, the market will start recovering in 2021.

Maket Covered Are:

By Resin -

1.Acrylic,
2.Alkyd,
3.Epoxy,
4.Fluoropolymer,
5.Polyester,
6.Polyurethane

By Technology -

1.Powder,
2.Solvent-Based,
3.Water-Based

By End-Use Industry -

1.General Industrial,
2.Automotive & Transportation,
3.Aerospace,
4.Marine,
5.Wood,
6.Packaging

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The Asia Pacific region, led by India and China, accounted for the largest share in 2019 followed by Europe. It is also expected to grow at the highest CAGR during the forecast period. Cost-efficient labor, easy availability of raw materials, and favorable policies of governments in this region are the primary factors responsible for the regional market growth. The emergence of new industries in the region will also drive market growth considerably.

Table of Contents

1.INTRODUCTION
1.Market Definition
2.Market Ecosystem
1.Market Classification
2.Geographic Scope
3.Years Considered for the Study
1.Historical Years – 2016 & 2017
2.Base Year – 2018
3.Forecasted Years – 2019 to 2030
3.Currency Used for the Study
4.Report Beneficiary List

2.RESEARCH METHODOLOGY
1.Research Framework
2.Data Collection Technique
3.Data Sources
1.Secondary Sources
2.Primary Sources
4.Market Estimation Methodology
1.Bottoms Up Approach
2.Top Down Approach
5.Data Validation and Triangulation
1.Market Forecasting Model
2.Limitations of the Study
3.Assumptions of the Study

3.ABSTRACT OF THE STUDY

4.MARKET DYNAMICS ASSESMENT
1.Overview
2.Drivers
3.Barriers/Challenges
4.Opportunities

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In the end, Industrial Coatings Market industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.

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