Industrial Liquid Coatings Market from oil & gas industry will see noticeable growth over 2020-2025

Sellbyville, DE -- (SBWire) -- 06/26/2020 --Industrial Liquid Coatings Market size is likely to increase in the forecast period. The liquid coatings offer chemical and mechanical resistance along with gloss and color retention to the machines that are used in the heavy equipment and agriculture sector. Industrial liquid coatings manufacturers are constantly aiming at enhancing their product quality to expand their global footprint as well as increase their customer base.

Industrial liquid coatings find extensive use in oil & gas pipelines and equipment that are used in exploration and drilling activities. The substance provides them resistance from gases, harmful oils, corrosion, extreme weather conditions, and many others. The rise in the prices of crude oil along with the presence of cost-effective drilling and exploration activities has driven the upstream and midstream sectors, worldwide.

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Various initiatives undertaken by developed economies, such as the U.S. to expand their oil & gas industry share for attaining energy self-sufficiency may also boost industrial liquid coatings industry growth. By 2021, North America region is expected to add the highest pipeline length of around 60 thousand Kms, subsequently fostering industry size over the coming years. Industrial liquid coatings market is touted to cross the USD 70 billion mark by 2025.

Expansion of general industrial sector across APAC region will also augment product demand in the forthcoming years. Industrial liquid coatings are utilized for coating various components and equipment in end-user industries, including electronics, general manufacturing, pharmaceutical, petrochemical & refineries, and food & beverage. Easy availability of skilled labor at low cost and favorable legislative amendments to boost the manufacturing sector are the key factors behind Asia Pacific region becoming a manufacturing hub, contributing around 40% to the world's output.

By resin, industrial liquid coatings market has been segmented into polyester, epoxy, polyurethane, and acrylic. Among them, acrylics are forecast to register an appreciable growth rate of more than 4.5% over the analysis period. Acrylic industrial liquid coatings offer a myriad of beneficial features, such as resistance to UV rays, moisture, rust, and chemicals. Such properties make acrylic liquid coatings well-suited for aluminum and steel applications. Key end use applications of acrylic coatings include utilization in piping, machineries, power plant equipment, steel structures, etc.

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Based on product type, e- coats or electrocoats may showcase growth rate of more than 5% over 2018–2025. Electrocoats offer superior corrosion protection and exceptional mechanical strength to substrates, such as galvanized steel, aluminum, magnesium, hot rolled, and cold rolled steel. E- coats are gaining widespread acceptance in manufacturing industries, construction, earthmoving & agricultural equipment, which is likely to supplement industry share.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. AkzoNobel
2. Hempel A/S
3. RPM International Inc.
4. Axalta
5. Baril Coatings
6. PPG Industries
7. Cardinal Paints & Powder
8. Sherwin-Williams
9. Kansai Paint Co. Ltd.
10. Nippon Paint Holdings Co., Ltd.
11. Advance Paints Pvt. Ltd.

North America industrial liquid coating market share has witnessed commendable gains over the years due to the presence of a robust industrial sector. Additionally, the region comprises of a wide network of oil and gas transmission pipelines through both Canada and the U.S. Relaxations in the crude oil exports in the U.S. over the years has led to the expansion of the pipeline network in the region, supporting the demand of industrial coatings from the O&G sector.

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