The report “Industrial Coatings Market by Resin (Polyurethane, Epoxy, Acrylic, Polyester, Alkyd), Technology, End-Use Industry (Industrial, Industrial, Protective, Automotive, Aerospace, Marine, Wood, Packaging), And Region – Global Forecast To 2025″ The industrial coatings market is expected to grow from USD 85.2 billion in 2020 to USD 103.2 billion by 2025, at a CAGR of 3.9% during the forecast period. The major factors driving the industrial coatings market include the increasing demand for environmentally-friendly coatings, need for efficient process and durable coatings with better aesthetics, and growing demand from the APAC region.
Browse 306 market data Tables and 63 Figures spread through 268 Pages and in-depth TOC on “Industrial Coatings Market by Resin (Polyurethane, Epoxy, Acrylic, Polyester, Alkyd), Technology, End-Use Industry (Industrial, Industrial, Protective, Automotive, Aerospace, Marine, Wood, Packaging), And Region – Global Forecast To 2025”
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Recent Developments
– In October 2018, Nippon Paint Industrial Coatings Co., Ltd, a wholly owned subsidiary of Nippon Paint Holdings Co., Ltd. engaged in the industrial coatings business invested in the powder coating plant located in Chiba, Japan. Through the investment, the company focusses on its powder coatings activities as an important and growing area and continues to further reinforce the powder coatings business both in technological development and expansion of its product lineup.
– In August 2018, Axalta expanded its liquid industrial coatings production capacity in Jacksonville, the US, located in North America by approximately one million gallons annually. The expansion is scheduled to be completed in the first quarter of 2019 and will allow the company to continue to deliver high-volume and world-class solutions to cater to the evolving needs of its customers.
APAC is expected to account for the largest share of the industrial coatings market during the forecast period.
APAC has emerged as the leading consumer and producer of industrial coatings. The easy availability of low-cost labor and raw materials are driving foreign investments, which is increasing the production of industrial coatings in the region. APAC is also the fastest-growing industrial coatings market.
Major players in the industrial coatings market include Jotun A/S (Norway), Axalta Coating Systems, LLC (US), AkzoNobel N.V. (Netherlands), The Sherwin-Williams Company (US), Teknos Group (Finland), PPG Industries, Inc. (US), RPM International Inc. (US), Tikkurila Oyj (Finland), Hempel A/S (Denmark), Kansai Paint Co., Ltd. (Japan), Nippon Paint Holdings Co., Ltd. (Japan), The Chemours Company (US), and NOROO Paint & Coatings Co Ltd (South Korea).
