![]() Industrial Coatings Market Share, Industry Growth, Trends, Business Opportunities, Challenges, GrowtA Story by Bhagyashri Bhole![]() Industrial Coatings Market![]() The global industrial coatings market is set to impetus from the increasing focus of manufacturers towards developing greener processes. These processes would help in creating fewer emissions and wastes, as well as use lesser energy. This information is given by Fortune Business Insights™ in a new report, titled, “Industrial Coatings Market Size, Share & COVID-19 Impact Analysis, By Resin (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others), By Technology (Solvent-borne, Water-borne, Powder, and Others), By End-use (General Industrial, Powder, Automotive OEM, Automotive Refinish, Protective, Wood, Marine, Coil, Packaging, and Others), and Regional Forecast, 2020-2027.” The report further states that this market size was USD 86.81 billion in 2019 and is projected to reach USD 119.54 billion by 2027, exhibiting a CAGR of 4.4% during the forecast period.
List of the Leading Companies Profiled in the Global Industrial Coatings Market are:
Drivers & Restraints Rising Environmental Concerns to Bolster Growth The manufacturing process of industrial coatings releases volatile organic compounds (VOCs) that must be eliminated effectively. These organic chemicals turn to gases once they are kept at room temperature. VOC is the main cause of ground-level air pollution. Hence, nowadays several manufacturers are rapidly inclining towards powder-based or water-borne coatings to maintain sustainability. This factor is set to propel the industrial coatings market growth in the coming years. However, these coatings are prone to drying quickly, which, in turn, may hamper growth.
Segment Acrylic Segment to Hold Major Share Backed by High Demand from Biomedicine Industry Based on resin, the acrylic segment held the major industrial coatings market share in 2019. This growth is attributable to the increasing demand for ceramic from the biomedicine industry. Binders or resins are capable of holding every component of coatings together. The alky segment would showcase considerable growth in the near future because of its cost-effective and versatile nature. Browse Report Summary: https://www.fortunebusinessinsights.com/industry-reports/industrial-coatings-market-101741 Announcement of PPG ENVIROCRON® by PPG to Spur Growth Opportunities The launch of a new production line by PPG is predicted to bolster the healthy growth of the market during the forecast period. For instance, in March 2019, PPG announced a new production line of PPG ENVIROCRON® Extreme Protection Edge coatings specially formulated to cover the sharp edges of parts created during metal fabrication and provide superior High Demand for Eco-Friendly Coating to Aid Expansion in North America Geographically, the market is divided into North America, South America, Asia Pacific, Europe, Middle East & Africa. North America and Europe are expected to grow rapidly during the forecast period owing to the increasing demand for eco-friendly coating. Asia Pacific is predicted to witness significant growth in the forthcoming years due to the rising demand from the automotive end-use industry. The increasing manufacturing and easy availability of raw materials is predicted to support the growth of the industrial coatings market in Asia Pacific. Additionally, China is the major consumer of industrial coatings due to the high demand from the automotive end-use industry as a result of industrialization and growing population rate. © 2021 Bhagyashri Bhole |
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Added on June 12, 2021 Last Updated on June 12, 2021 AuthorBhagyashri BholePune, Maharashtra, IndiaAboutI'm a chemical industry researcher, want to share latest news with my network more..Writing
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