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Redding, California - October 24, 2024

Industrial Coatings Market to be Worth $129.8 Billion by 2031

Industrial Coatings Market Size, Share, Forecast, & Trends Analysis by Type (Waterborne, Solvent-borne, Powder), Resin Type (Polyurethane, Epoxy, Alkyd, Acrylic), End-use Industry (Automotive, Aerospace, Oil & Gas, Marine) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Industrial Coatings Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication, the industrial coatings market is projected to reach $129.8 billion by 2031, at a CAGR of 3.4% from 2024–2031.

The industrial coatings market is experiencing growth driven by the rapid expansion of the automotive industry, large-scale infrastructure projects in developing countries, stringent environmental regulations aimed at reducing VOC emissions, and increased demand in the industrial sector for extending product lifespan and minimizing maintenance. However, this growth is hindered by the longer drying times associated with waterborne coatings and rising raw material costs.

In addition, the advancement in polymers and nanotechnology and the increasing demand for powder coating in marine applications are potential growth opportunities for market players. The market faces substantial challenges, including supply chain disruptions. Moreover, prominent technology trends in the industrial coatings market include smart coatings, sustainable materials, and additive manufacturing.

Key Players:

The industrial coatings market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the industrial coatings market are BASF SE (Germany), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (U.S.), Axalta Coating Systems, LLC (U.S.), Kansai Paint Co., Ltd. (Japan), PPG Industries, Inc. (U.S.), Nippon Paint Holdings Co., Ltd. (Japan), Hempel A/S (Denmark), Teknos Group Oy (Finland), Beckers Group (Germany), Chugoku Marine Paints, Ltd. (Japan), Jotun A/S (Norway), RPM International Inc. (U.S.), Barpimo S.A. (Spain), and DAW SE (Germany).

The industrial coatings market is segmented based on type, resin type, and end-use industry. The report also evaluates industry competitors and analyzes the industrial coatings market at the regional and country levels.

Among the types studied in this report, the solvent-borne coating segment is anticipated to dominate the industrial coatings market in 2024. The growing adoption of solvent-based coatings in diverse applications, including automotive, architectural, and industrial finishes, along with established supply chains for raw materials, additives, and equipment, highlights the segment’s leading position in the industrial coatings market. Furthermore, the cost-effectiveness of solvent-based coatings compared to water-based alternatives reinforces its market dominance.

Among the resin types studied in this report, the epoxy segment is anticipated to dominate the industrial coatings market in 2024. Epoxy coatings are designed to be non-toxic and low-VOC, enhancing safety for both workers and the environment. The rising demand for corrosion protection in harsh environments, along with their growing application in industries such as automotive, marine, and aerospace, are key factors driving the segment's dominant position in the industrial coatings market.

Among the end-use industries studied in this report, the automotive segment is anticipated to dominate the industrial coatings market in 2024. The increased production volume in the automotive industry, the expansion of the automotive sector in China and India, and the growing use of industrial coatings to protect vehicle surfaces from corrosion, scratches, chips, and other damage are key factors contributing to the segment’s dominant position in the industrial coatings market.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, Netherlands, and Rest of Europe), Asia-Pacific (Japan, China, India, South Korea, Australia & New Zealand, Indonesia, Thailand, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa (UAE, South Africa, Israel, and Rest of Middle East & Africa).

Among the geographies studied in this report, Asia-Pacific is anticipated to dominate the industrial coatings market in 2024. Rapid industrialization in Asian countries, the expanding automotive sector in the region, increased government investment, incentives to promote industrial development, and large-scale infrastructure projects are significant factors driving the market's dominant position in the industrial coatings sector.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=6052

Key Questions Answered in the Report:

What is the value of revenue generated by the sale of type, resin type, and end-use industry?
At what rate is the global demand for industrial coatings projected to grow for the next five to seven years?
What is the historical market size and growth rate for the industrial coatings market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which offering segments create major traction in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the industrial coatings market?
Who are the major players in the industrial coatings market? What are their specific product offerings in this market?
What recent developments have taken place in the industrial coatings market? What impact have these strategic developments created on the market?

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Redding, California - October 24, 2024

Industrial Coatings Market to be Worth $129.8 Billion by 2031

Industrial Coatings Market Size, Share, Forecast, & Trends Analysis by Type (Waterborne, Solvent-borne, Powder), Resin Type (Polyurethane, Epoxy, Alkyd, Acrylic), End-use Industry (Automotive, Aerospace, Oil & Gas, Marine) - Global Forecast to 2031

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