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
Published ON : Jun, 2019

[189 Pages Report] The market for industrial coatings is estimated to grow from USD 89.5 billion in 2019 to USD 115.4 billion by 2024, at a CAGR of 5.2% during the forecast period. Need for efficient process and durable coatings with better aesthetics, increasing demand for environmentally-friendly coatings and growing demand from the APAC region are the major factors driving the industrial coatings market. Industrial coatings are thin films applied to steel, concrete, and other materials to augment specific properties such as corrosion resistance, wear resistance, conductivity, and so on. Industrial coatings are manufactured with conventional polymers such as epoxy, polyurethane, acrylic, alkyd, polyesters, and fluoropolymer. The industrial coatings market depends heavily on the performance of the end-user industries such as protective, automotive, aerospace, marine, wood, packaging, coil, rail and general industrial equipment.

Industrial Coatings Market

The polyurethane segment is expected to account for the larger share of the industrial coatings market.

The polyurethane resin-based coatings are used where high performance is expected, such as oil-rig towers, warehouses, industrial plants, heat-resistant coatings, and bridges. These resins have properties, such as high durability, toughness, ease of cleaning, and high gloss. These properties make them preferable in a wide range of applications. They are also used in the wood, aircraft, and construction industries. Apart from these, the coatings are preferred for heavy-duty exterior and interior structural applications, paper mills, power plants, offshore structures, oil field machinery, exterior surfaces of steel tanks, handrails, conveyors, and chemical processing equipment.

The powder-based technology segment is expected to grow with the highest CAGR in the industrial coatings market during the forecast period.

Powder coating is a dry finishing process in which the finely ground particles of pigment and resin are electrostatically charged and sprayed onto electrically grounded parts. The powder-based industrial coatings offer low VOC emission, providing superior performance, and cost efficiency for applications that require maximum abrasion resistance and hardness. The powder-based industrial coating technology is a highly efficient process with over 98% powder overspray recoverability, higher resistance to chipping, scratching, fading, and wearing than other finishes. This process releases negligible VOCs into the environment and takes less cure time beyond the cool-down period.

The automotive OEM segment to grow at the fastest rate during the forecast period.

Automotive OEM is an integral part of automotive manufacturing. Coatings offer excellent quality and durability to automotive equipment. Automotive OEM coatings possess excellent mechanical properties that protect automobiles from scratches, environment, and chemical exposure. Coating done on the interior parts of an automotive, improve the surface area of the automotive body. Increasing automobile production majorly in the APAC region is expected to drive the demand for industrial coatings during the forecast period.

Industrial Coatings Market

APAC is expected to account for the largest market share during the forecast period.

APAC has emerged as the leading consumer and producer of industrial coatings. The region is a huge manufacturing hub which has resulted in attracting foreign investment and the booming industrial sectors primarily due to the low-cost labor and easily accessible raw materials. There is an increase in the demand for industrial coatings owing to the growing industrial, aerospace, transportation, marine, and automotive industries in the region.

Key Market Players

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

Recent Developments

  • In October 2018, Nippon Paint Holdings Co., Ltd. invested in the Chiba Plant, a powder coating plant located in Chiba, Japan managed by Nippon Paint Industrial Coatings Co., Ltd, a wholly owned subsidiary of Nippon Paint Holdings Co., Ltd. engaged in the industrial coatings business. Through the investment, the company focusses on its powder coatings activities as an important and growing area and continue to further reinforce the powder coatings business both in technological development and expansion of its product line.
  • In August 2018, Axalta expanded its liquid industrial coatings production capacity 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.

Key Questions Addressed by the Report

  • What are the mid- to long-term impacts of the developments undertaken by the key players of the market?
  • Which resin chemistries will be largely used to manufacture industrial coatings in the next five years?
  • What technology will be more preferred in the industrial coatings market?
  • Which end-use industries will emerge as major consumers of industrial coatings in the next five years?
  • What are the upcoming end-user industries of industrial coatings?
  • What will be the future of the industrial coatings market?
  • How will the manufacturers expand and extend their industrial coatings product portfolio to cater to the end-use industries?

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 High Solids
           7.5.1 Demand for High Solids Technology is Increasing Because of Its Low Emission of Voc
    7.6 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
           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
    8.1 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 Competitive Landscape
             10.2.2 Introduction
             10.2.3 Competitive Leadership Mapping, 2018
             10.2.4 Visionary Leaders
     10.3 Competitive Scenario
             10.3.1 Emerging Companies
             10.3.2 Dynamic Differentiators
             10.3.3 Competitive Scenario
             10.3.4 Expansion

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 Nippon Paint Holdings Co., Ltd.
     11.7 Kansai Paint Co., Ltd.
     11.8 RPM International Inc.
     11.9 Tikkurila OYJ
     11.10 Hempel A/S
     11.11 Teknos Group
     11.12 Noroo Paint & Coatings Co., Ltd.
     11.13 Weilburger Coatings
     11.14 The Chemours Company
*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. - 183)
     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 Market Size, By Resin Type, 2017–2024 (USD Million)
Table 3 Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 4 Market Size of Polyurethane Resin-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 5 Market Size of Polyurethane Resin-Based Industrial Coatings, By Region, 2017–2024 (Kiloton)
Table 6 Market Size of Epoxy Resin-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 7 Market Size of Epoxy Resin-Based Industrial Coatings, By Region, 2017–2024 (Kiloton)
Table 8 Market Size of Acrylic Resin-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 9 Market Size of Acrylic Resin-Based Industrial Coatings, By Region, 2017–2024 (Kiloton)
Table 10 Market Size of Polyester Resin-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 11 Market Size of Polyester Resin-Based Industrial Coatings, By Region, 2017–2024 (Kiloton)
Table 12 Market Size of Alkyd Resin-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 13 Market Size of Alkyd Resin-Based Industrial Coatings, By Region, 2017–2024 (Kiloton)
Table 14 Market Size of Fluoropolymer Resin-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 15 Market Size of Fluoropolymer Resin-Based Industrial Coatings, By Region, 2017–2024 (Kiloton)
Table 16 Market Size of Other Resin-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 17 Market Size of Other Resin-Based Industrial Coatings, 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 Market Size of Solvent-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 21 Market Size of Solvent-Based Industrial Coatings, By Region, 2017–2024 (Kiloton)
Table 22 Market Size of Water-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 23 Market Size of Water-Based Industrial Coatings, By Region, 2017–2024 (Kiloton)
Table 24 Market Size of Powder-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 25 Market Size of Powder-Based Industrial Coatings, By Region, 2017–2024 (Kiloton)
Table 26 Market Size of High Solids Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 27 Market Size of High Solids Industrial Coatings, By Region, 2017–2024 (Kiloton)
Table 28 Market Size of Other Technology-Based Industrial Coatings, By Region, 2017–2024 (USD Million)
Table 29 Market Size of Other Technology-Based Industrial Coatings, 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 Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 33 Market Size in General Industrial, By Region, 2017–2024 (USD Million)
Table 34 Market Size in General Industrial, By Region, 2017–2024 (Kiloton)
Table 35 Market Size in Protective, By Region, 2017–2024 (USD Million)
Table 36 Market Size in Protective, By Region, 2017–2024 (Kiloton)
Table 37 Market Size in Automotive Oem, By Region, 2017–2024 (USD Million)
Table 38 Market Size in Automotive Oem, By Region, 2017–2024 (Kiloton)
Table 39 Market Size in Industrial Wood, By Region, 2017–2024 (USD Million)
Table 40 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 Market Size in Automotive Refinish, By Region, 2017–2024 (Kiloton)
Table 44 Market Size in Coil, By Region, 2017–2024 (USD Million)
Table 45 Market Size in Coil, By Region, 2017–2024 (Kiloton)
Table 46 Market Size in Packaging, By Region, 2017–2024 (USD Million)
Table 47 Market Size in Packaging, By Region, 2017–2024 (Kiloton)
Table 48 Market Size in Marine, By Region, 2017–2024 (USD Million)
Table 49 Market Size in Marine, By Region, 2017–2024 (Kiloton)
Table 50 Market Size in Aerospace, By Region, 2017–2024 (USD Million)
Table 51 Market Size in Aerospace, By Region, 2017–2024 (Kiloton)
Table 52 Market Size in Rail, By Region, 2017–2024 (USD Million)
Table 53 Market Size in Rail, By Region, 2017–2024 (Kiloton)
Table 54 Market Size, By Region, 2017–2024 (USD Million)
Table 55 Market Size, By Region, 2017–2024 (Kiloton)
Table 56 APAC: Industrial Coatings Market Size, By Country, 2017–2024 (USD Million)
Table 57 APAC: Market Size, By Country, 2017–2024 (Kiloton)
Table 58 APAC: Market Size, By Resin Type, 2017–2024 (USD Million)
Table 59 APAC: Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 60 APAC: Market Size, By Technology, 2017–2024 (USD Million)
Table 61 APAC: Market Size, By Technology, 2017–2024 (Kiloton)
Table 62 APAC: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 63 APAC: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 64 China: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 65 China: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 66 Japan: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 67 Japan: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 68 India: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 69 India: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 70 South Korea: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 71 South Korea: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 72 Thailand: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 73 Thailand: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 74 Indonesia: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 75 Indonesia: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 76 Vietnam: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 77 Vietnam: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 78 Rest of APAC: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 79 Rest of APAC: 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: Market Size, By Country, 2017–2024 (Kiloton)
Table 82 Europe: Market Size, By Resin Type, 2017–2024 (USD Million)
Table 83 Europe: Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 84 Europe: Market Size, By Technology, 2017–2024 (USD Million)
Table 85 Europe: Market Size, By Technology, 2017–2024 (Kiloton)
Table 86 Europe: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 87 Europe: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 88 Germany: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 89 Germany: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 90 Russia: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 91 Russia: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 92 Italy: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 93 Italy: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 94 Turkey: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 95 Turkey: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 96 France: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 97 France: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 98 UK: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 99 UK: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 100 Spain: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 101 Spain: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 102 Rest of Europe: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 103 Rest of Europe: 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: Market Size, By Country, 2017–2024 (Kiloton)
Table 106 North America: Market Size, By Resin Type, 2017–2024 (USD Million)
Table 107 North America: Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 108 North America: Market Size, By Technology, 2017–2024 (USD Million)
Table 109 North America: Market Size, By Technology, 2017–2024 (Kiloton)
Table 110 North America: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 111 North America: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 112 US: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 113 US: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 114 Mexico: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 115 Mexico: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 116 Canada: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 117 Canada: 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: Market Size, By Country, 2017–2024 (Kiloton)
Table 120 Middle East & Africa: Market Size, By Resin Type, 2017–2024 (USD Million)
Table 121 Middle East & Africa: Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 122 Middle East & Africa: Market Size, By Technology, 2017–2024 (USD Million)
Table 123 Middle East & Africa: Market Size, By Technology, 2017–2024 (Kiloton)
Table 124 Middle East & Africa: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 125 Middle East & Africa: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 126 Saudi Arabia: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 127 Saudi Arabia: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 128 Iran: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 129 Iran: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 130 South Africa: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 131 South Africa: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 132 Rest of the Middle East & Africa: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 133 Rest of the Middle East & Africa: 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: Market Size, By Country, 2017–2024 (Kiloton)
Table 136 South America: Market Size, By Resin Type, 2017–2024 (USD Million)
Table 137 South America: Market Size, By Resin Type, 2017–2024 (Kiloton)
Table 138 South America: Market Size, By Technology, 2017–2024 (USD Million)
Table 139 South America: Market Size, By Technology, 2017–2024 (Kiloton)
Table 140 South America: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 141 South America: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 142 Brazil: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 143 Brazil: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 144 Argentina: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 145 Argentina: Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 146 Rest of South America: Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 147 Rest of South America: 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 ToDrive 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

Scope of the Report

Report Metric

Details

Years considered for the study

2017–2024

Base year considered

2018

Forecast period

2019–2024

Units considered

Value (USD) and Volume (Kiloton)

Segments covered

Resin Type, Technology, End-use Industry, and Region

Geographies covered

APAC, Europe, North America, Middle East & Africa, and South America

Companies profiled

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)

This research report categorizes the industrial coatings market based on resin type, technology, end-use industry, and region.

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
  • High Solids
  • Others (UV- and EB-cured technology)

Based on End-user Industry, the industrial coatings market has been segmented as follows:

  • General Industrial
  • Protective
  • Automotive OEM
  • Automotive Refinish
  • Industrial Wood
  • Coil
  • 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

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)
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