Industrial Coatings Market

Industrial Coatings Market by Resin (Polyurethane, Epoxy, Acrylic, Polyester, Alkyd), Technology (Solvent, Water, Powder, High Solids), End-Use Industry (Industrial, Industrial, Protective, Automotive, Aerospace, Marine, Wood, Packaging), and Region - Global Forecast to 2024

Report Code: CH 1208 Oct, 2019, by marketsandmarkets.com

[249 Pages Report] The industrial coatings market was valued at USD 85.2 million in 2018 and is projected to reach USD 113.5 million by 2024, at a CAGR of 5.0% during the forecast period. The base year considered for this study is 2018 and the forecast period is from 2019 to 2024.

Industrial Coatings Market

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Client’s Problem Statement

Our client, a top European paints and coatings manufacturer, was keen to increase its market penetration in their target markets (focussed in the European region). The senior management needed to take a host of crucial decisions – which market and product to focus on, which countries in their targeted countries to prioritise, which coating technologies to focus on, which application to focus on & what offering/ value proposition to build for target customers.

MnM Approach

For each application/end-use type, MNM assisted the client with an outside-in perspective on the market potential in various end-use segments such as architectural and industrial which also included General Industrial, Passenger Cards, Commercial Vehicles, Heavy Duty Equipment, Rail, Aerospace, Marine, Wood, and Others by country. Further, we helped them identify the highest potential technology, resin type, substrate type for respective end-use segments in each country. MNM also helped them better understand the competitive landscape, their business models & strategies of different players to win in these markets. This helped them devise a differentiated product offering & forge suitable alliance to help them win in this market.

Revenue Impact (RI)

Our findings helped the client to penetrate $0.5 Bn market, with a projected revenue of $0.6 Bn in 5 years. The client was able to grow their coating business more than the country’s average coatings market growth especially in Russia, Poland, Sweden, Finland, and in Baltics region.

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Acrylic is projected to be the fastest growing resin chemistry during the forecast period.

Acrylic resin-based industrial coatings have high demand, especially in the automotive industry, owing to stringent environmental regulations and the high corrosion resistance of these coatings. Apart from automotive, consumer appliances is the major end-use industry of these coatings. The coatings based on acrylic resins are also being used in wood, transportation, marine, and general industrial applications.

Powder-based industrial coatings are expected to be the fastest-growing technology during the forecast period

Powder-based industrial coatings are highly efficient with over 98% powder overspray recoverability, more resistant to chipping, scratching, fading, and wearing than other finishes. This process releases negligible VOC into the environment and takes less cure time beyond the cool-down period. Powder-based industrial coatings emit low levels of VOCs, providing superior performance and cost efficiency for applications that require maximum abrasion resistance, and hardness.

Increasing consumption of industrial coatings in general industrial and protective industries is expected to fuel the demand for industrial coatings

The general industrial and protective segments are the largest end-user industries of industrial coatings. Population growth, improved standard of living, infrastructure growth, global GDP growth, and recovery are driving the growth of the general industries. Protective coatings are used to protect the surface of materials from oil, chemicals, light, water, high-temperature fluctuations, and so on. Protective coatings offer benefits, such as resistance to corrosion, fire & chemicals abrasion, and waterproofing and thermal insulation. Protective coatings can be used for applications, such as consumer products and heavy machinery; in oil & gas, petrochemical, infrastructure, power generation, and water & sewage industries.

Market Dynamics

Increasing demand for environmentally-friendly coatings

The environmentally-friendly nature of industrial coatings has been one of their most important characteristics. Stringent EU regulations regarding the reduction of VOC emissions in coating resins and low polluting coating technologies are driving the demand for environmentally-friendly coatings. Government regulations in the US and Western European countries, especially regarding air pollution, will continue to be a driving force for the adoption of new and low-pollution coating technologies.

These regulations have led to the shift in demand from solvent-based coatings to environmentally-friendly products, such as water based, powder coatings, high solids, and UV-curable coatings. These environment-friendly products contain fewer solvents that evaporate during the curing phase. Hence, new rules and regulations set by the European Commission and Federal government agencies are leading toward achieving a greener environment with minimum or zero VOC emissions.

Powder coating has gained substantial popularity as it is a VOC-free coating technology. This market is achieving rapid growth due to the development of new products and formulations and advancement in the application processes. Powder coating is solvent–free, resulting in negligible emissions of VOC, which makes it environmentally-friendly, thereby fueling its demand.

Need for efficient process and durable coatings with better aesthetics

Nowadays, industrial coating products are sold with a multi-year guarantee against corrosion, mostly as a result of improvements in the performance of coatings. In addition to improved performance, manufacturers are continuously introducing new products in the market that have environmentally-friendly characteristics. The technologies that are currently used to manufacture coatings differ from solvent-based technology used previously. The introduction of new technologies has increased the performance of coatings rapidly.

Industrial coatings offer several benefits, such as crack-bridging ability, high flexibility, waterproofing & weatherproofing, resistance to dirt, mildew, and chemicals. Owing to these properties, industrial coatings are used to protect walls, floors, and roofs against heavy rainfall, strong wind, and snowfall.

In the exterior wall applications, industrial coatings can be used to replace conventional latex-based paints due to their aesthetic appeal to the substrates. In the flooring applications, these coatings offer high traffic-bearing capacity; ability to withstand the vibration of equipment; and excellent impact, chemical, and abrasion resistance.

There is a high demand for coatings with such properties in automotive, general industrial, industrial wood, and aerospace industries. This is increasing the demand for industrial coatings.

Growing demand from APAC

Industrial coatings have a wide range of applications in end-use industries, such as automotive, aerospace, marine, wood, and general industrial. There is growth in the powder coating industry owing to their emerging applications, such as wood and plastics in APAC.

The rising number of accidents, adoption of newer technologies, and increasing disposable income in the developing economies in the APAC region are the major factors that are expected to boost the automotive refinish market in the next few years. APAC is a key marine coatings market due to a high level of new shipbuilding activity as well as dry-dockings in the region. The growth in offshore drilling is expected to propel the marine coatings industry in the APAC region.

Industrial Coatings Market

The growth of the petroleum sector is the key driving force of the coil coatings industry. China and India are the key production hubs of refrigerators due to huge domestic demand and low production costs. This is driving the demand for coil coatings.

Investment from steel companies drives the development of construction, automobile, and electronics industries in the developing countries of APAC and the Middle East. This is leading to the high growth of the industrial coatings market.

The growth in end-use industries, such as architecture, automotive, aerospace, marine, wood, and protective, is driving the industrial coatings market in the APAC region.

Market Scope

Report Metric

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD Million) and Volume (Kiloton)

Segments covered

Resin Type (Polyurethane, Epoxy, Acrylic, Polyester, Alkyd, Fluoropolymer), Technology (Solvent based, Water based, Powder Coatings), End-use Industry (General Industrial, Protective, Automotive OEM, Industrial Wood, Automotive Refinish, Coil, Packaging, Marine, Aerospace, Rail)

Geographies covered

North America, Europe, APAC, MEA, and South America

Companies covered

PPG Industries, Inc. (US), Akzo Nobel N.V. (Netherlands), Axalta Coating Systems (US), The Sherwin-Williams Company (US), Nippon Paint Holdings Co., Ltd. (Japan), Jotun A/S (Norway), RPM International Inc. (US), Kansai Paint Co., Ltd. (Japan), Hempel A/S (Denmark), Tikkurila Oyj (Finland), Teknos Group (Finland), WEILBURGER Coatings GmbH (Germany), NOROO Paint & Coatings Co Ltd (South Korea), and The Chemours Company (US)

Market Segmentation

Based on resin type, the industrial coatings market has been segmented as follows:

  • Polyurethane
  • Epoxy
  • Acrylic
  • Polyester
  • Alkyd
  • Fluoropolymer
  • Others (silicone, amino, polyurea, polyolefin, nitrocellulose, plastisol, polyamide, and vinyl-based coatings)

Based on technology, the industrial coatings market has been segmented as follows:

  • Solvent based
  • Water based
  • Powder Coatings
  • Others (UV- and EB-cured technology)

Based on end-user industry, the industrial coatings market has been segmented as follows:

  • General Industrial (Appliance and Heavy Duty industrial)
  • Protective
  • Automotive OEM
  • Industrial Wood
  • Automotive Refinish
  • Coil & Extrusion (Appliance)
  • Packaging
  • Marine
  • Aerospace
  • Rail

Based on the region, the industrial coatings market has been segmented as follows:

  • APAC
  • Europe
  • North America
  • Middle East & Africa
  • South America

Key Market Players

The industrial coatings market has a diversified and established ecosystem of upstream players such as raw material suppliers and downstream stakeholders such as manufacturers and vendors of industrial coatings, end users, and government organizations. The key players in the industrial coatings market include Akzo Nobel N.V. (Netherlands), PPG Industries, Inc. (US), The Sherwin-Williams Company (US), Axalta Coating Systems (US), Jotun A/S (Norway), Nippon Paint Holdings Co., Ltd. (Japan), Kansai Paint Co., Ltd. (Japan), RPM International Inc. (US), Tikkurila OYJ (Finland), Hempel A/S (Denmark), Teknos Group (Finland), NOROO Paint & Coatings Co Ltd (South Korea), WEILBURGER Coatings GmbH (Germany), and The Chemours Company (US).

Major strategies identified in the global market include the following:

  • Expansions
  • New product launches
  • Acquisitions

Key Questions Addressed by the Report

  • Who are the major market players in the industrial coatings market?
  • What are the regional growth trends and the largest revenue-generating regions for the industrial coatings market?
  • Which are the significant regions for different industries that are projected to witness remarkable growth for the industrial coatings market?
  • What are the major resin types of industrial coatings that are projected to gain maximum market revenue and share during the forecast period?
  • Which is the major technology and application where industrial coatings are used that will be accounting for the majority of the revenue over the forecast period?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 19)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Market Segmentation
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Unit Considered
    1.6 Stakeholders

2 Research Methodology (Page No. - 22)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Assumptions
    2.5 Limitations

3 Executive Summary (Page No. - 30)

4 Premium Insights (Page No. - 35)
    4.1 Attractive Opportunities in the Industrial Coatings Market
    4.2 Industrial Coatings Market, By Resin Type
    4.3 Industrial Coatings Market, By Technology
    4.4 Industrial Coatings Market, By End-Use Industry and Key Countries
    4.5 Industrial Coatings Market, Developed vs Developing Countries
    4.6 APAC Industrial Coatings Market
    4.7 Industrial Coatings Market, By Major Countries

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Demand for Environmentally-Friendly Coatings
                    5.2.1.2 Need for Efficient Process and Durable Coatings With Better Aesthetics
                    5.2.1.3 Growing Demand From APAC
           5.2.2 Restraints
                    5.2.2.1 Difficulty in Obtaining Thin Films in Powder Coatings
                    5.2.2.2 Requirement of More Drying Time for Water-Based Coatings
           5.2.3 Opportunities
                    5.2.3.1 Attractive Prospects for Powder Coatings in Shipbuilding and Pipeline Sectors
                    5.2.3.2 Increasing Use of Nano-Coatings
                    5.2.3.3 Continuous Demand for Extended Product Lifetime and Reduced Maintenance
           5.2.4 Challenges
                    5.2.4.1 Stringent Regulatory Policies
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of Substitutes
           5.3.2 Bargaining Power of Buyers
           5.3.3 Threat of New Entrants
           5.3.4 Bargaining Power of Suppliers
           5.3.5 Intensity of Competitive Rivalry

6 Industrial Coatings Market, By Resin Type (Page No. - 47)
    6.1 Introduction
    6.2 Polyurethane
           6.2.1 Demand for Polyurethane Resins in High-Performance Application is Boosting Their Demand
    6.3 Epoxy
           6.3.1 Good Dimensional Stability Along With Excellent Electrical Conductivity is Boosting the Demand for Epoxy Resins
    6.4 Acrylic
           6.4.1 Outstanding Physical Properties are Expected to Drive the Demand for Acrylic Resins
    6.5 Polyester
           6.5.1 Ease of Handling and Low Cost of Polyester Resins are Driving Their Demand
    6.6 Alkyd
           6.6.1 High Durability and Good Drying Characteristics are the Reasons for the Growth of Alkyd Resins
    6.7 Fluoropolymer
           6.7.1 Excellent Non-Stick, Reduced Friction, and Corrosion Resistance Properties are Fueling the Demand for Fluoropolymer Resins
    6.8 Others

7 Industrial Coatings Market, By Technology (Page No. - 58)
    7.1 Introduction
    7.2 Solvent Based
           7.2.1 Outstanding Physical Properties are Expected to Drive the Demand for Solvent-Based Technology
    7.3 Water Based
           7.3.1 Low Toxicity and Flammability Due to Low Voc Levels are Increasing the Demand for Water-Based Industrial Coatings
    7.4 Powder
           7.4.1 Superior Performance and Excellent Properties of Powder Technology are Driving Its Demand
    7.5 Others

8 Industrial Coatings Market, By End-Use Industry (Page No. - 66)
    8.1 Introduction
    8.2 General Industrial
           8.2.1 Everyday Uses of Powder-Coated Products to Fuel the Demand for General Industrial Equipment
    8.3 Protective
           8.3.1 APAC is Emerging as A Strategic Location for Protective Coating Manufacturers
    8.4 Automotive OEM
           8.4.1 Growing Demand for Electric Vehicles to Drive the Industrial Coatings Market
    8.5 Industrial Wood
           8.5.1 Increasing Construction and Infrastructure Activities to Drive the Industrial Wood Coatings Demand
    8.6 Automotive Refinish
           8.6.1 Increase in Vehicle Usage Along With Increasing Number of Accidents has Propelled the Demand for Automotive Refinish Coatings
    8.7 Coil & Extrusion
           8.7.1 Durability and Cost-Benefit Properties are Expected to Drive the Demand for Coil Coatings
    8.8 Packaging
           8.8.1 Improved Lifestyles and Changing Food Habits are Fueling the Demand for Packaging Coatings
    8.9 Marine
           8.9.1 Slow Growth of Shipbuilding Sector is Hampering the Demand for Marine Coatings
    8.10 Aerospace
           8.10.1 Development of Chrome-Free Coating Technology is Augmenting the Market Growth
    8.11 Rail
           8.11.1 Advances in High-Speed Train Industry are Boosting the Rail Coatings Market

9 Industrial Coatings Market, By Region (Page No. - 84)
    9.1 Introduction
    9.2 APAC
           9.2.1 China
                    9.2.1.1 High Demand From the Furniture, Appliances, and Automotive Industries to Drive the Industrial Coatings Market in APAC
           9.2.2 Japan
                    9.2.2.1 High Production of Vehicles is Expected to Spur the Demand for Industrial Coatings in the Country
           9.2.3 India
                    9.2.3.1 The Rapidly Growing Furniture Industry is Expected to Fuel the Industrial Coatings Market Growth
           9.2.4 South Korea
                    9.2.4.1 Expansion of the Automotive Industry is Likely to Boost the Demand for Industrial Coatings
           9.2.5 Thailand
                    9.2.5.1 Automotive Being the Key Industry in the Country Contributes Significantly to the Growth of the Industrial Coatings Market
           9.2.6 Indonesia
                    9.2.6.1 Increasing Penetration of Japanese Carmakers to Benefit the Industrial Coatings Market in the Country
           9.2.7 Vietnam
                    9.2.7.1 Improvement in Residential Construction is Expected to Propel the Demand for Industrial Coatings in the Architectural Industry
           9.2.8 Rest of APAC
    9.3 Europe
           9.3.1 Germany
                    9.3.1.1 Increasing Focus on the Appliances Industry is Driving the Industrial Coatings Market in the Country
           9.3.2 Russia
                    9.3.2.1 The Positive Economic Outlook is Boosting the Industrial Coatings Market
           9.3.3 Italy
                    9.3.3.1 Increasing Foreign Demand for Furniture is Expected to Fuel the Growth of the Industrial Coatings Market
           9.3.4 Turkey
                    9.3.4.1 Rapid Urbanization and Diversification of Consumer Goods are Positively Impacting the Market Growth
           9.3.5 France
                    9.3.5.1 Adoption of Innovative Technologies is Expected to Drive the Demand for Industrial Coatings
           9.3.6 UK
                    9.3.6.1 Sustainable and Quality Products are Expected to Increase the Demand for Industrial Coatings in the UK
           9.3.7 Spain
                    9.3.7.1 Increased Innovation and Versatility are Expected to Drive the Industrial Coatings Market
           9.3.8 Rest of Europe
    9.4 North America
           9.4.1 US
                    9.4.1.1 Presence of Major Manufacturers is Fueling the Growth of the Industrial Coatings Market
           9.4.2 Mexico
                    9.4.2.1 High Export of Electronics Products is Expected to Boost the Industrial Coatings Market
           9.4.3 Canada
                    9.4.3.1 High Export of Furniture is Boosting the Demand for Industrial Coatings
    9.5 Middle East & Africa
           9.5.1 Saudi Arabia
                    9.5.1.1 Increasing Population and Urbanization are Fueling the Growth of the Industrial Coatings Market
           9.5.2 Iran
                    9.5.2.1 High Demand From the Automotive Industry is Expected to Drive the Industrial Coatings Market
           9.5.3 South Africa
                    9.5.3.1 The Surge in Demand for Industrial Coated Products is Expected to Drive the Market
           9.5.4 Rest of the Middle East & Africa
    9.6 South America
           9.6.1 Brazil
                    9.6.1.1 Easy Availability of Raw Materials is Expected to Fuel the Growth of the Industrial Coatings Market
           9.6.2 Argentina
                    9.6.2.1 The Favorable Automotive Industry Outlook is Facilitating the Growth of the Industrial Coatings Market
           9.6.3 Rest of South America

10 Competitive Landscape (Page No. - 146)
     10.1 Introduction
     10.2 Competitive Leadership Mapping, 2018
             10.2.1 Visionary Leaders
             10.2.2 Innovators
             10.2.3 Emerging Companies
             10.2.4 Dynamic Differentiators
     10.3 Competitive Scenario
             10.3.1 Expansion
             10.3.2 Acquisition
             10.3.3 New Product Launch
             10.3.4 Joint Venture

11 Company Profiles (Page No. - 154)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     11.1 Akzo Nobel N.V.
     11.2 Axalta Coating Systems, LLC
     11.3 Jotun A/S
     11.4 PPG Industries Inc.
     11.5 The Sherwin-Williams Company
     11.6 Asian Paints Ltd.
     11.7 BASF SE
     11.8 Beckers Group
     11.9 Berger Paints India Limited
     11.10 Nippon Paint Holdings Co., Ltd.
     11.11 Kansai Paint Co., Ltd.
     11.12 RPM International Inc.
     11.13 Tikkurila OYJ
     11.14 Hempel A/S
     11.15 Teknos Group
     11.16 Noroo Paint & Coatings Co., Ltd.
     11.17 Chemetall
     11.18 Chugoku Marine Paints Ltd.
     11.19 Croda International PLC
     11.20 Diamond Paints US
     11.21 Dowdupont
     11.22 Evonik Industries AG
     11.23 Guangdong Carpoly Chemical Group Co., Ltd.
     11.24 Henkel & Co. KGaA AG
     11.25 Sika AG
     11.26 Wacker Chemie AG
     11.27 Weilburger Coatings
     11.28 The Chemours Company
     11.29 Yip’s Chemical Holdings Limited
     11.30 Yung Chi Paint and Varnishing Mfg. Co., Ltd.

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 243)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets Subscription Portal
     12.3 Available Customizations
     12.4 Related Reports
     12.5 Author Details


List of Tables (151 Tables)

Table 1 Industrial Coatings Market Snapshot, 2019 vs 2024
Table 2 Industrial Coatings Market Size, By Resin Type, 2017–2024 (USD Million)
Table 3 Industrial Coatings Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 4 Polyurethane Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 5 Polyurethane Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 6 Epoxy Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 7 Epoxy Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 8 Acrylic Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 9 Acrylic Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 10 Polyester Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 11 Polyester Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 12 Alkyd Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 13 Alkyd Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 14 Fluoropolymer Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 15 Fluoropolymer Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 16 Other Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 17 Other Resin-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 18 Industrial Coatings Market Size, By Technology, 2017–2024 (USD Million)
Table 19 Industrial Coatings Market Size, By Technology, 2017–2024 (Kiloton)
Table 20 Solvent-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 21 Solvent-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 22 Water-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 23 Water-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 24 Powder-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 25 Powder-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 26 High Solids Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 27 High Solids Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 28 Other Technology-Based Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 29 Other Technology-Based Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 30 Industrial Coatings: End-Use Industry and Application
Table 31 Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 32 Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 33 Industrial Coatings Market Size in General Industrial, By Region, 2017–2024 (USD Million)
Table 34 Industrial Coatings Market Size in General Industrial, By Region, 2017–2024 (Kiloton)
Table 35 Industrial Coatings Market Size in Protective, By Region, 2017–2024 (USD Million)
Table 36 Industrial Coatings Market Size in Protective, By Region, 2017–2024 (Kiloton)
Table 37 Industrial Coatings Market Size in Automotive OEM, By Region, 2017–2024 (USD Million)
Table 38 Industrial Coatings Market Size in Automotive OEM, By Region, 2017–2024 (Kiloton)
Table 39 Industrial Coatings Market Size in Industrial Wood, By Region, 2017–2024 (USD Million)
Table 40 Industrial Coatings Market Size in Industrial Wood, By Region, 2017–2024 (Kiloton)
Table 41 Ranking of Key Players in the Automotive Refinish Coatings Market
Table 42 Industrial Coatings Market Size in Automotive Refinish, By Region, 2017–2024 (USD Million)
Table 43 Industrial Coatings Market Size in Automotive Refinish, By Region, 2017–2024 (Kiloton)
Table 44 Industrial Coatings Market Size in Coil, By Region, 2017–2024 (USD Million)
Table 45 Industrial Coatings Market Size in Coil, By Region, 2017–2024 (Kiloton)
Table 46 Industrial Coatings Market Size in Packaging, By Region, 2017–2024 (USD Million)
Table 47 Industrial Coatings Market Size in Packaging, By Region, 2017–2024 (Kiloton)
Table 48 Industrial Coatings Market Size in Marine, By Region, 2017–2024 (USD Million)
Table 49 Industrial Coatings Market Size in Marine, By Region, 2017–2024 (Kiloton)
Table 50 Industrial Coatings Market Size in Aerospace, By Region, 2017–2024 (USD Million)
Table 51 Industrial Coatings Market Size in Aerospace, By Region, 2017–2024 (Kiloton)
Table 52 Industrial Coatings Market Size in Rail, By Region, 2017–2024 (USD Million)
Table 53 Industrial Coatings Market Size in Rail, By Region, 2017–2024 (Kiloton)
Table 54 Industrial Coatings Market Size, By Region, 2017–2024 (USD Million)
Table 55 Industrial Coatings Market Size, By Region, 2017–2024 (Kiloton)
Table 56 APAC: Industrial Coatings Market Size, By Country, 2017–2024 (USD Million)
Table 57 APAC: Industrial Coatings Market Size, By Country, 2017–2024 (Kiloton)
Table 58 APAC: Industrial Coatings Market Size, By Resin Type, 2017–2024 (USD Million)
Table 59 APAC: Industrial Coatings Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 60 APAC: Industrial Coatings Market Size, By Technology, 2017–2024 (USD Million)
Table 61 APAC: Industrial Coatings Market Size, By Technology, 2017–2024 (Kiloton)
Table 62 APAC: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 63 APAC: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 64 China: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 65 China: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 66 Japan: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 67 Japan: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 68 India: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 69 India: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 70 South Korea: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 71 South Korea: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 72 Thailand: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 73 Thailand: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 74 Indonesia: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 75 Indonesia: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 76 Vietnam: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 77 Vietnam: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 78 Rest of APAC: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 79 Rest of APAC: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 80 Europe: Industrial Coatings Market Size, By Country, 2017–2024 (USD Million)
Table 81 Europe: Industrial Coatings Market Size, By Country, 2017–2024 (Kiloton)
Table 82 Europe: Industrial Coatings Market Size, By Resin Type, 2017–2024 (USD Million)
Table 83 Europe: Industrial Coatings Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 84 Europe: Industrial Coatings Market Size, By Technology, 2017–2024 (USD Million)
Table 85 Europe: Industrial Coatings Market Size, By Technology, 2017–2024 (Kiloton)
Table 86 Europe: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 87 Europe: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 88 Germany: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 89 Germany: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 90 Russia: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 91 Russia: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 92 Italy: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 93 Italy: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 94 Turkey: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 95 Turkey: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 96 France: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 97 France: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 98 UK: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 99 UK: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 100 Spain: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 101 Spain: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 102 Rest of Europe: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 103 Rest of Europe: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 104 North America: Industrial Coatings Market Size, By Country, 2017–2024 (USD Million)
Table 105 North America: Industrial Coatings Market Size, By Country, 2017–2024 (Kiloton)
Table 106 North America: Industrial Coatings Market Size, By Resin Type, 2017–2024 (USD Million)
Table 107 North America: Industrial Coatings Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 108 North America: Industrial Coatings Market Size, By Technology, 2017–2024 (USD Million)
Table 109 North America: Industrial Coatings Market Size, By Technology, 2017–2024 (Kiloton)
Table 110 North America: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 111 North America: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 112 US: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 113 US: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 114 Mexico: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 115 Mexico: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 116 Canada: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 117 Canada: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 118 Middle East & Africa: Industrial Coatings Market Size, By Country, 2017–2024 (USD Million)
Table 119 Middle East & Africa: Industrial Coatings Market Size, By Country, 2017–2024 (Kiloton)
Table 120 Middle East & Africa: Industrial Coatings Market Size, By Resin Type, 2017–2024 (USD Million)
Table 121 Middle East & Africa: Industrial Coatings Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 122 Middle East & Africa: Industrial Coatings Market Size, By Technology, 2017–2024 (USD Million)
Table 123 Middle East & Africa: Industrial Coatings Market Size, By Technology, 2017–2024 (Kiloton)
Table 124 Middle East & Africa: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 125 Middle East & Africa: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 126 Saudi Arabia: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 127 Saudi Arabia: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 128 Iran: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 129 Iran: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 130 South Africa: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 131 South Africa: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 132 Rest of the Middle East & Africa: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 133 Rest of the Middle East & Africa: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 134 South America: Industrial Coatings Market Size, By Country, 2017–2024 (USD Million)
Table 135 South America: Industrial Coatings Market Size, By Country, 2017–2024 (Kiloton)
Table 136 South America: Industrial Coatings Market Size, By Resin Type, 2017–2024 (USD Million)
Table 137 South America: Industrial Coatings Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 138 South America: Industrial Coatings Market Size, By Technology, 2017–2024 (USD Million)
Table 139 South America: Industrial Coatings Market Size, By Technology, 2017–2024 (Kiloton)
Table 140 South America: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 141 South America: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 142 Brazil: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 143 Brazil: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 144 Argentina: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 145 Argentina: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 146 Rest of South America: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 147 Rest of South America: Industrial Coatings Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 148 Expansion, 2016–2019
Table 149 Acquisition, 2016–2019
Table 150 New Product Launch, 2016–2019
Table 151 Joint Venture, 2016–2019


List of Figures (49 Figures)

Figure 1 Industrial Coatings Market: Research Design
Figure 2 Industrial Coatings Market: Bottom-Up Approach
Figure 3 Industrial Coatings Market: Top-Down Approach
Figure 4 Polyurethane Resin to Register the Highest CAGR in the Industrial Coatings Market
Figure 5 Solvent Based to Be the Largest Technology During the Forecast Period
Figure 6 Automotive OEM to Be the Fastest-Growing End-Use Industry of Industrial Coatings
Figure 7 APAC to Lead the Industrial Coatings Market
Figure 8 Emerging Economies to Offer Lucrative Growth Opportunities for Market Players
Figure 9 Acrylic Resin to Be the Largest Segment
Figure 10 Solvent-Based Technology Accounted for the Largest Share in 2018
Figure 11 General Industrial Segment to Account for the Largest Market Share
Figure 12 Industrial Coatings Market to Grow at A Faster Rate in Developing Countries
Figure 13 China to Dominate the Industrial Coatings Market
Figure 14 India to Register the Highest CAGR in the Market
Figure 15 Drivers, Restraints, Opportunities, and Challenges in the Industrial Coatings Market
Figure 16 Low Threat of Backward Integration From the Buyers in the Industrial Coatings Market
Figure 17 Polyurethane to Be the Largest Resin Type in 2019
Figure 18 Solvent-Based to Be the Largest Technology in 2019
Figure 19 High Growth in Major End-Use Industries to Drive the Industrial Coatings Market
Figure 20 General Industrial to Be the Largest End-Use Industry of Industrial Coatings
Figure 21 The Oil & Gas Industry Had High Demand for High-Performance Protective Coatings in 2018
Figure 22 Automotive Production Share for Top-5 Countries, 2018
Figure 23 India Emerging as the New Automotive Hub of the World
Figure 24 Marine Coatings Market Share, 2018
Figure 25 World Fleet By Principal Vessel Type, Share of Tonnage (Dead-Weight Tons), 2018
Figure 26 India to Be the Fastest-Growing Industrial Coatings Market
Figure 27 APAC: Industrial Coatings Market Snapshot
Figure 28 Rise in the Demand in the Protective Segment to Drive the Industrial Coatings Market in Europe
Figure 29 North America: Industrial Coatings Market Snapshot
Figure 30 Saudi Arabia to Be the Largest Industrial Coatings Market
Figure 31 Increasing Demand From the General Industrial Segment to Drive the Industrial Coatings Market
Figure 32 Companies Adopted Expansion as the Key Growth Strategy Between 2016 and 2019
Figure 33 Industrial Coatings Market: Competitive Leadership Mapping, 2018
Figure 34 Akzo Nobel N.V.: Company Snapshot
Figure 35 Akzo Nobel N.V.: SWOT Analysis
Figure 36 Axalta Coating Systems, LLC: Company Snapshot
Figure 37 Axalta Coating Systems, LLC: SWOT Analysis
Figure 38 Jotun A/S: Company Snapshot
Figure 39 Jotun A/S: SWOT Analysis
Figure 40 PPG Industries Inc.: Company Snapshot
Figure 41 PPG Industries, Inc.: SWOT Analysis
Figure 42 The Sherwin-Williams Company: Company Snapshot
Figure 43 The Sherwin-Williams Company: SWOT Analysis
Figure 44 Nippon Paint Holdings Co., Ltd.: Company Snapshot
Figure 45 Kansai Paint Co., Ltd.: Company Snapshot
Figure 46 RPM International Inc.: Company Snapshot
Figure 47 Tikkurila Oyj: Company Snapshot
Figure 48 Hempel A/S: Company Snapshot
Figure 49 The Chemours Company: Company Snapshot

The study involved four major activities in estimating the current market size for industrial coatings. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of the segments and the subsegments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors; gold standard & silver standard websites; regulatory bodies; trade directories; and databases.

Primary Research

The industrial coatings market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations. The demand side for this market is characterized by the development of automotive OEM, automotive refinish, general industrial, marine, protective, industrial wood, coil, packaging, aerospace, and rail industries as well as the growth in population. Advancements in diverse end-use industries characterize the supply side. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:

Industrial Coatings Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the overall size of the industrial coatings market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the total market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides of the end-user industries such as automotive OEM, automotive refinish, general industrial, marine, protective, industrial wood, coil, packaging, aerospace, and rail.

Report Objectives

  • To define, describe, and forecast the global market size of industrial coatings
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To analyze the micro-markets with respect to individual growth trends, future opportunities, and their contribution to the overall market
  • To understand the structure of the industrial coatings market by identifying its various subsegments
  • To project the size of the market and its submarkets, in terms of value, with respect to the five regions (along with their respective key countries)
  • To profile key players and comprehensively analyze their core competencies
  • To understand the competitive landscape and identify major growth strategies adopted by players across the key regions
  • To analyze the competitive developments such as expansion, acquisition, new product launch, and joint venture in the industrial coatings market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis:

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis:

  • Further breakdown of a specific country based on end-use industry

Company Information:

  • Detailed analysis and profiling of additional market players (up to five)
Report Code
CH 1208
Published ON
Oct, 2019
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