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Global Industrial Coatings Market By Product Type (Polyester, Polyurethane, Others), By Technology (Solvent-Based, Water-Based, Others.), By End-Users (Industrial Wood, Coil, Others) By Region, Forecast & Opportunities to 2026

The global industrial coatings market accounted for a value of USD 80.9 billion in 2019. Industrial coatings market projected to register growth at a CAGR of 3.1% during forecast period.

COVID-19 has impacted the industrial market as all the manufacturing facilities for general and automotive sector have to shut due to lockdown. The supply chain of raw materials and finished products is disrupted due to travel restriction. The demand for industrial coating has been slowdown due to decline in growth of various end-users such as packaging, automotive etc. The market is estimated to foresee growth from 2021.

Definition:

Coatings can be defined as a thin layer of a coating paint over the surface of any object in order to protect it. Coating creates a thin layer over a surface of any object. Industrial coatings are type of coatings used in various industries such as automotive, marine, oil & gas, aerospace and packaging etc.

Market Dynamics (Drivers/Opportunities):

The industrial coatings are consumed by various end-users industries. Industrial coatings are adopted due to various benefits such as multi-year corrosion resistance guarantee, protection from dust and microbes and prevention from external damage. This increases demand for industrial coatings and drives growth in industrial coating market during forecast period.

The industrial coatings manufacturers are constantly introduction various products including eco-friendly coatings. The awareness about degrading environment and increasing pollution is rising among consumers and manufacturers which lead to high demand and consumption of eco-friendly coating in the market. This drives growth in industrial coatings market during forecast period.

Industrial coatings have key benefits such as high flexibility, weatherproofing, waterproofing and crack-bridging ability etc. There are various new technologies used for production of coatings which helps in increasing performance and life of coatings. This drives growth in industrial coatings segment during forecast period.

Market Insights, by Technology

On the basis of technology, the industrial coatings market is segmented into solvent-based, water-based, powder-based, high solids and others. The solvent-based technology segment accounted for largest market share 36.0% in 2019. This technology is used in automotive, oil & gas and marine industries.

The powder-based technology segment is projected to register growth at highest CAGR during forecast period. In powder-based technology, finely ground particles of pigment and resin are electro-statically sprayed onto electrically grounded parts. It is a dry finishing process and cost effective along with high performance efficiency. The powder-based technology gives lower VOC emission and major used where maximum resistance and hardness are required.  It offers higher resistance to fading, scratching and wearing. The adoption of powder-based technology is increasing and this drives growth in powder-based technology during forecast period.

Market Insights, by Product Type

On the basis of product type, the industrial coatings market is segmented into polyester, epoxy, polyurethane, alkyd, acrylic and others. Acrylic product type segment accounted for a maximum share of 35.0% in 2019. It is estimated to grow at a CAGR of 3.5% during forecast period. It widely adopted in structural steel, construction equipment, pipes, heavy castings and automotive etc. It has various properties such as gloss retention, weathering resistance, UV light resistance, fire resistance and abrasion resistance which are highly in demand in the market. This drives growth in acrylic product type during forecast period.

Market Insights, by End-Users

On the basis of end-users, the industrial coatings market is segmented into general industries, protective, automotive refinish, industrial wood, automotive OEM, coil, packaging, marine, aerospace, rail. The automotive OEM segment is estimated to be fastest growing segment during forecast period. Coatings provide durability to automotive parts and it protects parts from scratches, chemical exposures and external environment. The production of automotive sector is increasingly rapidly around various regions and the adoption of coatings is increasing for various parts and this drives growth in automotive OEM segment during forecast period.

Regional Insights

Asia-Pacific region is estimated to hold largest market share during forecast period. This region is largest consumer as well as producer of industrial coatings. This region is hub for various manufacturing industries and it is attracting foreign direct investment due to easily availability of raw material and cheap labor cost. The growth in various end-user industries is likely to drive growth in industrial coating market in Asia-Pacific region during forecast period.

Key Companies & Market Share Insights

The key market players in industrial coatings are Akzo Nobel N.V., Axal TA Coating Systems, Jotun AS, PPG Industries, The Sherwin Williams, Nippon Paint Holdings, Kansai Paint, RPM International, Tikkurila OYJ, Hempel AS, Teknos Group, Noroo Paints & Coatings, Weilburger Coatings and The Chemours Company.

Segments Covered in the Report

This report forecasts The Global Industrial Coatings Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global industrial coatings market report on the basis of product type, technology and end-users.

Industrial Coatings Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Industrial Coatings Market, By Technology, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Solvent-Based
  • Water-Based
  • Powder-Based
  • High Solids
  1. Industrial Coatings Market, By Thickness, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Polyester
  • Epoxy
  • Polyurethane
  • Alkyd
  • Acrylic
  • Others
  1. Industrial Coatings Market, By End User, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • General Industries
  • Protective
  • Automotive Refinish
  • Industrial Wood
  • Automotive OEM
  • Coil
  • Packaging
  • Marine
  • Aerospace
  • Rail
  1. Industrial Coatings Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Technology
    • By Thickness
    • By End-User
    • By Country
      • USA
        • By End-User
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Technology
      • By Thickness
      • By End-User
      • By Country
        • Brazil
          • By End-User
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Technology
        • By Thickness
        • By End-User
        • By Country
          • UK
            • By End-User
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Technology
          • By Thickness
          • By End-User
          • By Country
            • China
              • By End-User
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Technology
            • By Thickness
            • By End-User
            • By Country
              • Saudi Arabia
                • By End-User
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • The Chemours Company
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Akzo Nobel N.V.
    • Axal TA Coating Systems
    • Jotun AS
    • PPG Industries
    • The Sherwin Williams
    • Nippon Paint Holdings
    • Kansai Paint
    • RPM International
    • Tikkurila OYJ
    • Hempel AS
    • Teknos Group
    • Noroo Paints & Coatings
    • Weilburger Coatings
  2. Appendix
    • Interrelated Market

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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