Akzo Nobel N.V. (Netherlands), Axalta Coatings Systems LLC. (US) are Leading Players in the Industrial Coatings Market
The global industrial coatings market size was USD 108.1 billion in 2022 and is projected to reach USD 129.2 billion by 2028, at a CAGR of 3.3% between 2023 and 2028. The global industrial coatings market is growing at a high rate due to the increased demand from various sectors. The Asia Pacific accounted for the major share of the overall market in 2022. Huge demand from the Asia Pacific region is drives the industrial coatings market.
The key players following the strategies between 2018 to 2022, Akzo Nobel N.V. (Netherlands), Axalta Coatings Systems LLC. (US), Jotun A/S (Norway), PPG Industries Inc. (US), The Sherwin-Williams Company (US). The companies are majorly following product launch, merger & acquisition, and investment & expansion as the strategy to grow and expand the market.
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Akzo Nobel N.V. is a diversified chemical company, which operates through two business segments: decorative paints and performance coatings. Industrial coatings are offered under the performance coatings segment. The performance coatings segment has a portfolio that includes industrial coatings for ships, cars, aircraft, yachts, and architectural components (structural steel, building products, flooring); consumer goods (mobile devices, appliances, beverage cans, furniture); and oil & gas facilities. Coral, Dulux, Flexa, Hammerite, Sadolin, Sikkens, Awlgrip, International, Interpon, Dissolvine, Eka, Expancel, Jozo, Levasil, and Kromasil are among the various brands of the company. Industrial coatings are offered under its Interpon and Resicoat brands. The company has a wide global presence. It has a strong customer base and operates in countries of Europe, the Middle East & Africa, Latin America, and Asia.
Axalta Coating Systems LLC is a diversified coatings company. It mainly operates through two segments, Performance Coatings and Mobility Coatings. The Performance Coatings segment is further segmented into refinish and industrial, and Transportation Coatings is segmented into light vehicles and commercial vehicles. The company manufactures liquid and powder coatings for various applications such as automotive OEMs, automotive refinish, transportation, general industrial, and architectural & decorative coatings. Axalta Coating Systems LLC has a strong customer base and operates in various countries in Europe, North America, Asia Pacific, and the Middle East & Africa. It competes with PPG Industries, Akzo Nobel, and Sherwin-Williams, among others.
Related Reports:
Industrial Coatings Market by Type (Acrylic, Alkyd, Polyester, Polyurethane, Epoxy, Fluoropolymer), Technology (Solventborne Coatings, Waterborne Coatings, Powder Coatings), End-Use Industry (General Industrial), & Region - Global Forecast to 2028
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