Industrial Coatings Market Analysis:
Industrial coatings are materialsthat protect surface deterioration of metals/alloys due to humidity, salt spray, oxidation, and exposure to chemicals. Industrial coatings acts as barriers between metals and corrosive materials. UVcoatings and non-coatings are gaining traction in the global market. UV-treated coatings offer several benefits, including faster drying time, increased operating speed, and superior adhesion.
COVID 19 impact:
The global market for industrial coatings is severely impacted by the outbreak of the COVID-19 pandemic.
The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
Thus, insufficiency in raw material supply is expected to hamper the production rate of industrial coatings, which negatively impact the market growth.
However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities..
Market scenario: top impacting factors, drivers, restraints, opportunities.
Industrial coatings offer a number of benefits, such as block capability, high flexibility, waterproofing and climate protection, resistance to pollution, carbon and chemicals. As a result of these structures, industrial coatingsare used to protect walls, floors, and roofs against excessive rain, strong wind, and snowfall.
Industrial coatingsalso help to improve impact resistance and abrasion and work with low quality volatile organic compounds (VOCs), providing high performance and cost-effective applications that require high abrasion resistance as well as hardness. Population growth, improved livelihoods, infrastructure growth, and global GDP growth are driving the demand for coating
The construction sector has witnessed notable growth in India supported by government investment in infrastructure development.New projects such as metros, bridges, and buildings are being built across the country. Improved living standards and infrastructure growth in the country are driving demand for industrial coating.
China and India are important regions for industrial coatings market due to high domestic demand and low production costs. This is driving the need for industrial coatings. The growing demand for environmentally friendly coatings due to growing environmental concerns and strong VOC processes are further expected to boost the market growth.
Key benefits of the report:
This study presents the analytical depiction of the global industrial coatings industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global industrial coatings market share.
The current market is quantitatively analyzed to highlight the global industrial coatingsmarket growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global industrial coatings market analysis dependingon competitive intensity and how the competition will take shape in coming years.
Questions answered in the industrial coatings market research report:
Whichare the leading players active in the industrial coatingsmarket?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities of the market?
What are the projections for the future that would help in taking further strategic steps?
Industrial Coatings Market Report Highlights
By Industry Vertical
Key Market Players
BASF SE, Axalta coating systems, LLC, PPG Industries Inc., Jotun, RPM International Inc., Chemours Company, Nippon paint Holdings co. Ltd, Sherwin-Williams, Weilburger Coatings GmbH, AkzoNobel N.V.