Industry Experts - Market Research

Demand for Industrial Coatings being Driven by Wider Acceptance Across Various Sectors

Thursday Feb 06, 2025

Industry Experts, Inc., has released its latest report on Industrial Coatings Market, which projects the demand for the same to be estimated at US$119.8 billion in 2024 and projected to reach US$152.7 billion by 2030 at a CAGR of 4.1% between the two years.

Some of the factors driving demand for Industrial Coatings include growth in major end-use sectors, increase in the application of protective & functional coatings and a rise in the need for sustainable and high-performance coating solutions. Emerging economies are witnessing widespread expansion in the construction, automotive and manufacturing sectors, which is contributing to robust demand for coatings employed to protect infrastructure, vehicles, machinery and equipment from damage caused by environmental and mechanical factors. For example, the use of Industrial Coatings in the construction sector helps safeguard steel structures, pipelines and concrete surfaces from corrosion, weathering and wear. As urbanization and population growth is rampant in these regions, the requirement of coatings for enhancing durability and appearance of buildings and facilities is maintaining steady growth.

Accounting for an estimated share of over 42% in 2024, Asia-Pacific leads the global demand for Industrial Coatings and is also likely to emerge as the fastest growing. The region has now become the global hub of the auto manufacturing industry, with production and sales of vehicles outpacing the established markets of North America and Europe. Since the use of Industrial Coatings in this sector accounts for a significant share, demand for the same will maintain a steady and good growth over the analysis period. Further contributions to market increase include factors, such as urbanization, infrastructure development and rise in commercial, industrial & residential construction activities, especially in China and India. In fact, India's market for Industrial Coatings is anticipated to register the fastest CAGR over the 2024-2030 analysis period, owing to rapid industrial development, expanding manufacturing sector and policy initiatives, such as 'Make in India.' Despite some challenges, the country's auto sector has been performing quite well, with both production and sales of vehicles increasing by over 7% between 2022 and 2023. All these factors are, in turn, driving the market for Industrial Coatings in the region, a trend that is likely to continue over the medium term.

The report studies the Industrial Coatings market across all major regions including North America (The United States, Canada and Mexico), Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), South America (Argentina, Brazil and Rest of South America) and Middle East & Africa.

The market for major resin types of Industrial Coatings analyzed in this report include Acrylic, Alkyd, Epoxy, Fluoropolymer, Polyester, Polyurethane and Other Resin Types (Incl. Thermoplastic, Thermoset & Vinyl). The study also examines the market for Industrial Coatings by technology, comprising Powder-Based, Solvent-Borne and Water-Borne. With regard to functions, the Industrial Coatings market is analyzed for Abrasion Protection, Chemical Protection, Corrosion Protection and Thermal Protection. By end-use sector, the analysis of Industrial Coatings covers Aerospace, Automotive & Transportation, Construction, Electronics, General Industrial & Manufacturing, Industrial Wood, Marine, Oil & Gas and Other End-Use Sectors (Incl. Agricultural, Construction & Earthmoving Equipment, Metals, Mining, Packaging & Power Generation).

About Industry Experts, Inc
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/