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Liquid Coating Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

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Dec 2020 | 36 Views
 
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Liquid Coating Market Analysis 2020-2027:

 

A coating is a covering that is applied to an object’s surface. The purpose of applying the coating may be aesthetic, functional, or both. The growth of the global market for industrial liquid coatings is expected be driven by development of the manufacturing sector.  Liquid coatings, commonly known as wet coatings, are used majorly where powder coatings may not adhere to provide finishing to equipment as well as assembled parts and components. In addition, liquid coatings offer noise reduction owing to sound absorption properties, rust & chemical resistance, wear & non-stick resistance, and abrasion resistance. The material efficiency of liquid coatings is around 35%. They provide an aesthetic look and protect the surface against corrosion and damages. Generally, liquid coatings are applied with a spray device to create a consistent thickness of the paint layer.

Market scope and structure analysis

Report Metric

Details

Market size available for years

2019–2027

Base year considered

2019

Forecast period

2020–2027

Forecast unit

Value (USD)

Segments covered

Coating Layer, Resin Type, Coating Technology, Application

Regions covered

North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA( Brazil, Saudi Arabia, south Africa, and Rest of LAMEA)

Companies covered

Akzo Nobel ltd., Hempel Inc., Asian Paints ltd., Nippon Paint Inc, Rust- Oleum Corporation, PPG Industries Inc., Kansai Paint Co. Ltd., Advance Paints Pvt. Ltd., Titan Paints & Chemicals Ltd., and Durolac Paints, Inc.

Key drivers of global liquid coating market

Rapid industrial development in developing countries and extensive use of liquid industrial coating in various industries, including food & beverage, oil & gas, electricity, electronics, manufacturing, boost the market growth for liquid industrial coating. . In the projected time frame, strong growth in the oil & gas industry is likely to fuel the growth of the industrial liquid coatings market. Liquid coatings are used in oil & gas delivery pipelines along with different machinery used in drilling operations and in oil processing. The boom in production operations, developments in the midstream industry, and the current administration's regulatory support are ultimately anticipated to boost the market for liquid industrial coatings during the forecast period.

Market scenario: opportunities and challenges

Significant industrial development in Asian countries is expected to boost the growth of the global market, as liquid coatings are commonly used to prevent issues related to corrosion in machinery and their equivalents in different industries such as electronics, food & beverages, construction, and textiles. In addition, expansion in the automotive industry is expected to fuel the demand for liquid coatings in upcoming years. This is attributed to surge in use of liquid coating for coating the vehicle components such as bolts, screws, brake pads, axle, and internal & external body, as it provides corrosion, chemical, and mechanical resistance. However, the adverse effect on human health caused by the release of fumes from volatile organic compounds is one of the crucial factors, which is expected to hinder the growth of the industrial liquid coatings industry. In addition, liquid coating is less durable as compared to its alternatives. Moreover, it can be hazardous to the spray user, thus inferior and several coats have to be applied to attain the appropriate firm thickness. Such factors are expected to serve as constraints during the forecast period for the growth of the liquid coating industry.

Key segments covered

Segment

Subsegment

Coating Layer

  • Primer
  • Base coat
  • Top coat
  • Clear Coat

Resin Type

  • Polyurethane
  • Acrylic
  • Alkyd
  • Polyester

Coating Technology

  • Solvent-borne
  • Waterborne
  • UV Cure

Application

  • Machinery & Parts
  • Automotive
  • Electronics
  • Construction
  • Medical
  • Military
  • Optical

COVID-19 scenario analysis

Owing to the outbreak of the COVID-19 pandemic, the global liquid coating market is expected to witness a slowdown during the next couple of years. The liquid coating industry has endured a negative impact with the spread of coronavirus and consequent fears of falling global demand. Companies are dealing with missing sales and disrupted supply chains as manufacturing shutdowns and quarantine measures expand across the globe, restricting movement and trade, resulting in adverse impacts on the global liquid coating industry.

Key benefits of the report

  • This study presents the analytical depiction of the global liquid coating 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 liquid coating market share
  • The current market is quantitatively analyzed from 2019 to 2027 to highlight the global liquid coating market growth scenario
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market
  • The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years

Questions answered in the global liquid coating market research report:

  • Which are the leading market players active in the global liquid coating market?
  • 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?
 
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