The Global Industrial coatings market was $28.4 billion in 2017 and is estimated grow with CAGR of 5.4% till 2020 to reach 28.8 billion. Due to the rise in industrial activities, the manufacturing plants are increasing, which leads in demand for efficient machinery to run the manufacturing activities and thus generates impetuous in industrial coatings. Various industrial coatings are used for different applications depending up on the usage. Another important trend that drives growth for the industrial coatings is globalization of the industry and resource constrains
What is Industrial Coatings?
Industrial coating prevents the material from various factors such as corrosion and more. Corrosion is the surface deterioration of metals/alloys within specific environment due to moisture, salt spray, oxidation or exposure to industrial chemicals. Industrial coatings prevent the corrosion of metals/alloys by acting as a barrier between the metals/alloys and the corrosive materials in contact
Industrial coatings curtail the parent material and restricts direct exposure to harsh environment that initiates degradation. These chemicals are widely used across various industries such as general industrial, marine, aerospace, automotive, wood and many others.
What are the major applications of Industrial Coatings?
The various end users assessed include General Industrial, Automotive, Coil & Extrusion, Heavy Duty Equipment and Others and others
Market Research and Market Trends of Industrial Coatings
- Growing new coatings to prevent pipeline clogging
- Recently, a new surface coating was created which prevents the formation of ices on the inner surface of the pipes which could to clog in the oil wells or pipelines. Globally researchers are coming up with new coating solutions that prevent oil rig leakages and blockages inside oil & gas pipelines which can lead to shutdowns to clear a pipe which is an expensive factor. Therefore, this trend is expected to solve the challenges that been faced in oil & gas pipelines
- Increasing trends towards bio based coatings in railway sector
- Usage of renewable materials for coating applications has been a trending factor since many years. Recent research on green coatings for railways vehicles has proved successful where more than 70 percent of carbon in polyurethane raw materials is from biomass. This gives the manufactures an opportunity to effectively use bio based raw materials.
- Trend towards nano-coating is expected to reduce fuel consumption of aircraft engines
- Due to growing trend towards nano particles, researchers are now using nanoparticles in the heat-insulating coating that protects aircraft engines from heat. Moreover, this increased the service life of the coating by 300%. This trend is expected to drive the market during the forecast period.
Who are the Major Players in Industrial Coatings Market?
The companies referred in the market research report include PPG Industries, Inc., Akzonobel, Sherwin William, Nippon Paints and others
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2024.
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Key Takeaways from this Report
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