Industrial Coatings Market to be Worth US$41,682.8 mn by 2022: Transparency Market Research

 Industrial Coatings Market to be Worth US$41,682.8 mn by 2022: Transparency
                               Market Research

Global Industrial Coatings Market: Construction & Automotive Industries in
APEJ Garnering Strong Demand

  PR Newswire

  ALBANY, New York, September 13, 2017

ALBANY, New York, September 13, 2017 /PRNewswire/ --

As per the estimations of the report, the demand in the global industrial
coatings market will increment at a considerable CAGR of 5.8% during the
forecast period of 2017 to 2022, reaching a valuation of 41,682.8 mn by 2022,
which is significantly up from its evaluated worth of US$31,478.5 mn in 2017.
As far as the competitive landscape is concerned, most of the industrial
coatings market leaders are expected to pay sustained focus on enhancing their
product portfolio, indulge in mergers and acquisitions, and emphasize on
efficient application of advanced coatings technologies.

As per the findings of a latest intelligence study by Transparency Market
Research (TMR), the global industrial coatings market is intensely competitive
and distributed among a large number of players. However, a few global players
do hold stronger position than the rest of the lot, owing to their widespread
geographical presence.

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Multi-Billion Dollar Business Prospering Steadily  

Based on resin, the global industrial coatings market gains maximum demand for
epoxy, which represented 32.4% of the overall demand in 2017. The market for
epoxy segment was worth US$10,979.9 mn in 2017. By 2022, expanding at an
above-average CAGR of 5.9% during the forecast period of 2017 to 2022, the
global epoxy industrial coatings market is estimated to be worth US$14,641.7
mn, representing an absolute dollar growth of US$732.4 mn annually.
Geographically, North America currently is the most lucrative region in the
global industrial coatings market and is projected to be worth US$8,180.9 mn
by 2022. However, Asia Pacific expect Japan (APEJ) is anticipated to increase
the demand for industrial coatings at the most robust CAGR of 6.7% and emerge
as highly profitable region by the end of the forecast period.

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Rapid Infrastructural Development in Emerging Economies Augmenting Demand  

The prosperity of the global industrial coatings market can be attributed to a
number of factors, but none bigger than rapid urbanization and infrastructure
development in a number of emerging economies. These coatings find extensive
application in the building construction sector, serving as protective- and
corrosion-resistive agent for plastic and metal structures. Industrial
coatings are also used to make steel and concrete less-susceptible to fire and
other hazards. Apart from the constructing industry, the automotive industry
is another highly potential end user of the global industrial coatings market.
Once again, developing countries such as China and India are exhibiting a
healthy automotive industry, wherein these coatings are used to add robustness
of various kinds to a number of automotive parts. Several players of the
global industrial coatings market are focusing on the research and development
of advanced coatings that minimize cycle time in body shops and thereby leads
to reduced operational costs.

Fluctuations in Raw Material Prices Obstructing Market from Expanding  

On the other hand, strict regulatory policies against solvent-based coatings,
difficulty in obtaining thin films in powder coating, fluctuations in the cost
of raw materials, and long-awaited outbreak of the powder coatings market in
Western Europe are some of the factors that are challenging the true
prosperity of the global industrial coatings market. Going forward, the demand
for premium paints among DIY consumers is expected to increase, while the
introduction of fluoropolymer topcoats, UV-curable coatings, and nanocoatings
will open new opportunities for the vendors operating in the global industrial
coatings market.

Increasing demand for eco-friendly coatings and prospects for powder coatings
in the shipping and pipeline industries are also expected reflect positively
on the growth rate of the global industrial coatings market.

The key companies of industrial coatings market are staying ahead of the curve
by keeping their production facilities nearby to the demand. The TMR report
identifies PPG Industries, Inc., AkzoNobel N.V., RPM International Inc.,
Nippon Paint Holdings Co., The Sherwin-Williams Company, The Valspar
Corporation, Kansai Paint Co., Ltd, Axalta Coating Systems, LLC, BASF, NOROO
Paint & Coatings Co., Ltd., Jotun A/S, Roto Polymers And Chemicals, Weilburger
Coatings GmbH, The Chemours Company, Milliken & Company, and Whitford
Corporation as some of the key companies currently operating in the global
industrial coatings market.

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Global Industrial Coatings Market Report available @ $5795

About TMR  

Transparency Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company's exclusive
blend of quantitative forecasting and trend analysis provides forward-looking
insight for thousands of decision makers. TMR's experienced team of analysts,
researchers, and consultants use proprietary data sources and various tools
and techniques to gather and analyze information.

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