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Report
Industrial Coatings Market by Product (Acrylic, Alkyd, Polyurethane, Epoxy, Polyester, and Others), Technology (Solvent Borne, Water Borne, Powder Based, and Others), End User (General Industrial, Marine, Automotive and Vehicle Refinish, Electronics, Aerospace, Oil and Gas, Mining, Power Generation, and Others), and Region 2023-2028
Market Report I 2023-07-05 I 135 Pages I IMARC Group
Market Overview:
The global industrial coatings market size reached US$ 110.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 131.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.0% during 2023-2028. The rapid industrialization especially in emerging economies, the implementation of stringent government regulations to promote eco-friendly products, and the rising product adoption in the automotive industry represent some of the key factors driving the market.
Industrial coatings refer to specialized coatings or paint formulations that are specifically designed for application in industrial settings. These coatings are used to protect various surfaces and substrates in industries such as manufacturing, automotive, aerospace, construction, marine, and oil and gas. The primary purpose of industrial coatings is to provide a protective layer on surfaces to enhance their durability, functionality, and aesthetic appeal. They are often used to protect metal surfaces from corrosion caused by exposure to moisture, chemicals, and environmental factors. They can also provide resistance against abrasion, wear, and impact, which is particularly important for surfaces that undergo mechanical stress or friction, such as machinery parts, pipelines, and flooring. In addition, they improve the appearance of surfaces by providing a smooth, glossy, or textured finish. Industrial coatings are typically applied using specialized techniques such as spraying, dipping, or brushing and can be formulated as solvent-based coatings, water-based coatings, powder coatings, or other specialized formulations, depending on the specific application requirements.
Industrial Coatings Market Trends:
The ongoing industrialization across various regions, particularly in emerging economies, is driving the demand for industrial coatings. Industries such as aerospace, manufacturing, construction, and marine rely heavily on coatings to protect and enhance the durability, aesthetics, and functionality of their products and infrastructure. In addition, the surging need for protective coatings to safeguard industrial equipment, machinery, and structures against corrosion, abrasion, chemicals, and weathering to prevent damage, improve longevity, and maintain operational efficiency represents another major growth-inducing factor. Besides this, stringent environmental regulations imposed by governments and regulatory bodies have accelerated the shift toward eco-friendly and sustainable and low volatile organic compounds coatings and other environmentally friendly formulations. This, coupled with the advent of nanotechnology, powder coatings, high-performance polymers, and smart coatings that offer improved functionality, enhanced performance, and cost-effectiveness, catering to evolving customer needs and requirements, is positively influencing the market growth. Moreover, the market is also propelled by the increasing infrastructure development projects, including the construction of roads, bridges, buildings, and public utilities. Furthermore, the automotive industry is a significant consumer of industrial coatings, including coatings for automotive parts, body panels, and vehicles which is also augmenting the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global industrial coatings market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on product, technology, and end user.
Product Insights:
Acrylic
Alkyd
Polyurethane
Epoxy
Polyester
Others
The report has provided a detailed breakup and analysis of the industrial coatings market based on the product. This includes acrylic, alkyd, polyurethane, epoxy, polyester, and others. According to the report, acrylic represented the largest segment.
Technology Insights:
Solvent Borne
Water Borne
Powder Based
Others
A detailed breakup and analysis of the industrial coatings market based on technology has also been provided in the report. This includes solvent borne, water borne, powder based, and others. According to the report, solvent borne accounted for the largest market share.
End User Insights:
General Industrial
Marine
Automotive and Vehicle Refinish
Electronics
Aerospace
Oil and Gas
Mining
Power Generation
Others
A detailed breakup and analysis of the industrial coatings market based on the end user has also been provided in the report. This includes general industrial, marine, automotive and vehicle refinish, electronics, aerospace, oil and gas, mining, power generation, and others. According to the report, general industrial accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for industrial coatings. Some of the factors driving the Asia Pacific industrial coatings market included the escalating demand for powder coating, the rising product adoption in the automotive industry, and the increasing construction activities.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global industrial coatings market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Akzo Nobel N.V., Axalta Coating Systems Ltd., BASF SE, Chugoku Marine Paints Ltd., Hempel A/S, Jotun, Kansai Paint Co. Ltd., Nippon Paint Holdings Co., Ltd., PPG Industries Inc., The Sherwin-Williams Company, Wacker Chemie AG, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
How has the global industrial coatings market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global industrial coatings market?
What is the impact of each driver, restraint, and opportunity on the global industrial coatings market?
What are the key regional markets?
Which countries represent the most attractive industrial coatings market?
What is the breakup of the market based on the product?
Which is the most attractive product in the industrial coatings market?
What is the breakup of the market based on technology?
Which is the most attractive technology in the industrial coatings market?
What is the breakup of the market based on end user?
Which is the most attractive end user in the industrial coatings market?
What is the competitive structure of the global industrial coatings market?
Who are the key players/companies in the global industrial coatings market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Industrial Coatings Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Acrylic
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Alkyd
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Polyurethane
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Epoxy
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Polyester
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Technology
7.1 Solvent Borne
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Water Borne
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Powder Based
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by End User
8.1 General Industrial
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Marine
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Automotive and Vehicle Refinish
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Electronics
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Aerospace
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Oil and Gas
8.6.1 Market Trends
8.6.2 Market Forecast
8.7 Mining
8.7.1 Market Trends
8.7.2 Market Forecast
8.8 Power Generation
8.8.1 Market Trends
8.8.2 Market Forecast
8.9 Others
8.9.1 Market Trends
8.9.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
10.1 Overview
10.2 Drivers
10.3 Restraints
10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Akzo Nobel N.V.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Axalta Coating Systems Ltd.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 BASF SE
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 Chugoku Marine Paints Ltd.
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Hempel A/S
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 SWOT Analysis
14.3.6 Jotun
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 SWOT Analysis
14.3.7 Kansai Paint Co. Ltd.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Nippon Paint Holdings Co., Ltd
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 PPG Industries Inc.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 The Sherwin-Williams Company
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 Wacker Chemie AG
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
Figure 1: Global: Industrial Coatings Market: Major Drivers and Challenges
Figure 2: Global: Industrial Coatings Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Industrial Coatings Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Industrial Coatings Market: Breakup by Product (in %), 2022
Figure 5: Global: Industrial Coatings Market: Breakup by Technology (in %), 2022
Figure 6: Global: Industrial Coatings Market: Breakup by End User (in %), 2022
Figure 7: Global: Industrial Coatings Market: Breakup by Region (in %), 2022
Figure 8: Global: Industrial Coatings (Acrylic) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Industrial Coatings (Acrylic) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Industrial Coatings (Alkyd) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Industrial Coatings (Alkyd) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Industrial Coatings (Polyurethane) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Industrial Coatings (Polyurethane) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Industrial Coatings (Epoxy) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Industrial Coatings (Epoxy) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Industrial Coatings (Polyester) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Industrial Coatings (Polyester) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Industrial Coatings (Other Products) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Industrial Coatings (Other Products) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Industrial Coatings (Solvent Borne) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Industrial Coatings (Solvent Borne) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Industrial Coatings (Water Borne) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Industrial Coatings (Water Borne) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Industrial Coatings (Powder Based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Industrial Coatings (Powder Based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Industrial Coatings (Other Technologies) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Industrial Coatings (Other Technologies) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Industrial Coatings (General Industrial) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Industrial Coatings (General Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: Industrial Coatings (Marine) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: Industrial Coatings (Marine) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: Industrial Coatings (Automotive and Vehicle Refinish) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: Industrial Coatings (Automotive and Vehicle Refinish) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: Industrial Coatings (Electronics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: Industrial Coatings (Electronics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Global: Industrial Coatings (Aerospace) Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Global: Industrial Coatings (Aerospace) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Global: Industrial Coatings (Oil and Gas) Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Global: Industrial Coatings (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Global: Industrial Coatings (Mining) Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Global: Industrial Coatings (Mining) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: Global: Industrial Coatings (Power Generation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: Global: Industrial Coatings (Power Generation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Global: Industrial Coatings (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Global: Industrial Coatings (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: North America: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: North America: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: United States: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: United States: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Canada: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Canada: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Asia-Pacific: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Asia-Pacific: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: China: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: China: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: Japan: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: Japan: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: India: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: India: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: South Korea: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: South Korea: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Australia: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Australia: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Indonesia: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Indonesia: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Europe: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Europe: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Germany: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Germany: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: France: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: France: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: United Kingdom: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: United Kingdom: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Italy: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Italy: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Spain: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 79: Spain: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 80: Russia: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 81: Russia: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Others: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 83: Others: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 84: Latin America: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 85: Latin America: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 86: Brazil: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 87: Brazil: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 88: Mexico: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 89: Mexico: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 90: Others: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 91: Others: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 92: Middle East and Africa: Industrial Coatings Market: Sales Value (in Million US$), 2017 & 2022
Figure 93: Middle East and Africa: Industrial Coatings Market: Breakup by Country (in %), 2022
Figure 94: Middle East and Africa: Industrial Coatings Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 95: Global: Industrial Coatings Industry: Drivers, Restraints, and Opportunities
Figure 96: Global: Industrial Coatings Industry: Value Chain Analysis
Figure 97: Global: Industrial Coatings Industry: Porter's Five Forces Analysis
Table 1: Global: Industrial Coatings Market: Key Industry Highlights, 2022 & 2028
Table 2: Global: Industrial Coatings Market Forecast: Breakup by Product (in Million US$), 2023-2028
Table 3: Global: Industrial Coatings Market Forecast: Breakup by Technology (in Million US$), 2023-2028
Table 4: Global: Industrial Coatings Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 5: Global: Industrial Coatings Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Industrial Coatings Market: Competitive Structure
Table 7: Global: Industrial Coatings Market: Key Players
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We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
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- Credit Card Security
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We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
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- Website security