Published on : Nov 28, 2016
ALBANY, NY, Nov 28, 2016: The report projects the market, which is considered to be a developed one, to expand at a CAGR of 5.8% from 2016 and 2020. According to the report, titled “Global Industrial Coatings Market 2016-2020,” rapid urbanization worldwide has been a boon for the industry. This is because industrial coatings used on the surfaces of aluminum, steel, plastic, and wood to protect them from moisture, fire, and corrosion find application in various construction purposes. They are also used for adding an aesthetic appeal. Besides construction, industrial coatings find use in automotive and electronics industries. They come in four different forms, namely liquid, pretreatment, powder, and electrocoating.
Countering the growth of the market, the report finds, are price fluctuations of raw materials, which impact product costs and operations. Another market constraint has been strict regulations against the usage of solvent-based coatings. A trend in the industry has been the rise in the use fluoro-polymer topcoats, which performs the best when it comes to weathering, among other topcoats. The robust chemical bonds between fluorine and carbon atoms in fluoropolymers’ structure provide good resistance against heat, chemicals, ultraviolet light, and weather.
The market has also witnessed a soaring popularity of UV-curable coatings, in which high-intensity ultraviolet light is used to instantly dry coatings. Nano coating too is fast gaining traction, especially in the automotive sector, on account of the long lasting shine and durable protection they provide. Currently, players in the global industrial coatings market are offering technical services and support to further improve their market share by retaining clients.
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The report segments the market based on technology into liquid coatings, powder coatings, pretreatment, and electro-coatings. It also divides the market based on application into general finishes, automotive OEMs, automotive refinish, wood coatings, oil coatings, and others. It delves into each segment’s revenue, market share, and growth prospects. The report arrives at the overall market size by factoring in revenue created from the sale of industrial coatings for applications such as automotive refinish, general finishes, automotive original equipment manufacturers (OEMs), wood coatings, coil coatings, etc.
Geography-wise, the report classifies the market into three major parts: Asia Pacific, the Americas, and Europe, the Middle East, and Africa. It focusses not just on the overall market in each region but also the key countries in them that have a substantial impact on the market’s current landscape and future growth. The report leverages Porter’s Five Forces analysis to scope out the market for new and existing players and their product offerings.
Major participants operating in the global industrial coatings market are AkzoNobel, BASF, Axalta Coating Systems, Sherwin-Williams, and PPG Industries.
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