Pune, India -- (SBWire) -- 12/18/2018 --Industrial Coatings Market Key Players:
The key players of Global Industrial Coatings Market are AkzoNobel N.V, BASF SE, PPG Industries Inc., Valspar (U.S.), Sherwin-Williams Co. Ltd, DuPont Co, NOROO Paints & Coatings, Asian Paints, Burke Industrial Coatings, Industrial Nanotech, Inc. and others.

Industrial Coatings Market Overview:
Industrial Coatings Market was valued to be USD 24.2 Bn in 2018 and is expected to reach USD 31.4 Billion by the end of 2022, growing at the CAGR of 3.9 % from 2018 to 2022.

Industrial Coatings are used in various industries like automotive, building & construction, marine, oil & gas, medical & healthcare and others due to its corrosion resistance property. Industries are looking for innovation in coatings such as increased service life, improve corrosion resistance and bio-based coatings that will fuel the industrial coatings market. Strict government regulations regarding disposal of petrochemical products in environment can restrain the market in the coming years.

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Industrial Coatings are gaining importance in the market owing to high exposure of metals to wear and tear along with continual degradation. These coatings are used across various industries like marine, aerospace, automotive and wood application. Rising demand of industrial coatings with enhanced lifespan, and improved corrosion resistance is expected to fuel the market growth.

Industrial Coatings Market Segments:
Industrial Coatings are segmented on basis of application such as automotive OEMs, marine coatings, protective & maintenance coatings, coil coatings, packaging coatings, wood coatings and others. The prominent application of industrial coating is in automotive OEMs due to development of the aerospace industry and increasing in demand for safety requirement that is followed in this industry. Other application like marine coatings possess properties like anti-corrosive and anti-fouling which are highly used in manufacturing vessels in cargo ships. Protective & maintenance coatings is used for steel bridges, oil rigs & equipment's and in petroleum products for protecting from corrosion and wear & tear.

Industrial Coatings Market Regional Analysis:
Asia Pacific accounts for largest share of global industrial coatings market. China being a largest producer of paints & coatings demand for industrial coatings on a large scale. Rapid industrializations, favorable government regulations and increase in consumer spending will significantly grow the industrial coatings market in emerging economies such as China, India and Japan. This market in North America is witnessing a constant growth due to stable marine activities, currency fluctuations as a result of uncertainties and lowering price of oil crude. Government of counties like Indonesia, Thailand and Malaysia are increase trade which is supporting industries through tax subsidies, regulations and incentives.

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Industry/ Innovation/ Related News:
September 18, 2017 – Axalta launches new polyurethane coatings in addition to its brand Tufcote. This new polyurethane topcoats provides adhesion and resistance to chip which is essential in industry maintenance. This coating materials possess properties such as fastest drying capacities and exceptional durability. Thus, benefiting the Axalta company to extend its portfolio to meet growing demand of industrial coating.

Industrial Coatings Market Competitive Analysis:
Industrial Coatings Market is fragmented with major manufacturer from North America and some few from Asia Pacific region. Major players in market are adopting strategies such as acquisitions, partnerships, expansion and new technology development. Key market participants are acquiring small players in the market in order to tap large market share. Additionally, manufacturer is collaborating with distributors to increase their presence and meet the global demand. Manufacturers are focusing more on high performance coatings by lowering of greenhouse gases along with development of bio-based coatings. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality.

Industrial Coatings Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape

Industrial Coatings Market Table of Content to be Continue…...,

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