Global Industrial Coatings Market Size Study, by Type, by Technology, by End-Use Industry, and Regional Forecasts 2022-2032

Description

The Global Industrial Coatings Market is currently valued at approximately USD 109.7 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 3.3% during the forecast period from 2024 to 2032. Industrial coatings serve as an essential element in numerous manufacturing processes, providing protection, enhancing durability, and delivering aesthetic appeal to various substrates. Leveraging advanced material science, industrial coatings now offer specialized solutions such as corrosion resistance, heat resistance, and improved adhesion, aligning with evolving industry requirements.

This market's growth trajectory is underpinned by the surging demand across diverse industries, including automotive, construction, and aerospace. Environmental sustainability has emerged as a driving force, spurring innovations in eco-friendly formulations like waterborne and powder coatings. These technologies not only minimize volatile organic compound (VOC) emissions but also cater to stringent environmental regulations. However, fluctuating raw material costs and the complexity of regulatory compliance present significant challenges to market participants. Nonetheless, the advent of smart coatings, with functionalities like self-healing and anti-fouling, offers a plethora of growth opportunities.

Regionally, North America commands a substantial share of the market, driven by its robust manufacturing sector and significant investments in infrastructure. Europe follows closely, propelled by the adoption of sustainable coating technologies and rigorous environmental norms. Meanwhile, the Asia-Pacific region is anticipated to witness the fastest growth, supported by rapid industrialization, urbanization, and expanding construction activities in emerging economies like China and India.

Major market players included in this report are:

Akzo Nobel N.V.
PPG Industries, Inc.
Sherwin-Williams Company
Axalta Coating Systems Ltd.
Nippon Paint Holdings Co., Ltd.
BASF SE
Jotun A/S
Kansai Paint Co., Ltd.
RPM International Inc.
Valspar Corporation
Tikkurila Oyj
Beckers Group
Asian Paints Ltd.
Hempel A/S
Berger Paints India Limited

The detailed segments and sub-segments of the market are explained below:

By Type:

Acrylic
Alkyd
Polyester
Polyurethane
Epoxy
Fluoropolymer

By Technology:

Solventborne Coatings
Waterborne Coatings
Powder Coatings

By End-Use Industry:

General
Industrial

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia Pacific

Latin America:

Brazil
Mexico

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional-level analysis for each market segment.
Detailed analysis of geographical landscapes with country-level insights for major regions.
Competitive landscape with detailed information on major players in the market.
Analysis of key business strategies and recommendations for future market approaches.
Examination of competitive market structures.
Demand-side and supply-side analysis of the market.

Chapter 1. Global Industrial Coatings Market Executive Summary

1.1. Global Industrial Coatings Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Type
- 1.3.2. By Technology
- 1.3.3. By End-Use Industry
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Industrial Coatings Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Industrial Coatings Market Dynamics

3.1. Market Drivers
- 3.1.1. Surging Demand Across Diverse Industries
- 3.1.2. Innovations in Eco-friendly Formulations
- 3.1.3. Advancements in Material Science
3.2. Market Challenges
- 3.2.1. Fluctuating Raw Material Costs
- 3.2.2. Complexity of Regulatory Compliance
3.3. Market Opportunities
- 3.3.1. Adoption of Smart Coatings
- 3.3.2. Expansion in Emerging Economies
- 3.3.3. Technological Innovations in Coating Applications

Chapter 4. Global Industrial Coatings Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Industrial Coatings Market Size & Forecasts by Type 2022-2032

5.1. Segment Dashboard
5.2. Global Industrial Coatings Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. Acrylic
- 5.2.2. Alkyd
- 5.2.3. Polyester
- 5.2.4. Polyurethane
- 5.2.5. Epoxy
- 5.2.6. Fluoropolymer

Chapter 6. Global Industrial Coatings Market Size & Forecasts by Technology 2022-2032

6.1. Segment Dashboard
6.2. Global Industrial Coatings Market: Technology Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Solventborne Coatings
- 6.2.2. Waterborne Coatings
- 6.2.3. Powder Coatings

Chapter 7. Global Industrial Coatings Market Size & Forecasts by End-Use Industry 2022-2032

7.1. Segment Dashboard
7.2. Global Industrial Coatings Market: End-Use Industry Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 7.2.1. General
- 7.2.2. Industrial

Chapter 8. Global Industrial Coatings Market Size & Forecasts by Region 2022-2032

8.1. North America Industrial Coatings Market
- 8.1.1. U.S. Industrial Coatings Market
  - 8.1.1.1. Type Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.2. Technology Breakdown Size & Forecasts, 2022-2032
  - 8.1.1.3. End-Use Industry Breakdown Size & Forecasts, 2022-2032
- 8.1.2. Canada Industrial Coatings Market
  - 8.1.2.1. Type Breakdown Size & Forecasts, 2022-2032
  - 8.1.2.2. Technology Breakdown Size & Forecasts, 2022-2032
  - 8.1.2.3. End-Use Industry Breakdown Size & Forecasts, 2022-2032
8.2. Europe Industrial Coatings Market
- 8.2.1. UK Industrial Coatings Market
- 8.2.2. Germany Industrial Coatings Market
- 8.2.3. France Industrial Coatings Market
- 8.2.4. Spain Industrial Coatings Market
- 8.2.5. Italy Industrial Coatings Market
- 8.2.6. Rest of Europe Industrial Coatings Market
8.3. Asia-Pacific Industrial Coatings Market
- 8.3.1. China Industrial Coatings Market
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. India Industrial Coatings Market
- 8.3.3. Japan Industrial Coatings Market
- 8.3.4. Australia Industrial Coatings Market
- 8.3.5. South Korea Industrial Coatings Market
- 8.3.6. Rest of Asia Pacific Industrial Coatings Market
8.4. Latin America Industrial Coatings Market
- 8.4.1. Brazil Industrial Coatings Market
- 8.4.2. Mexico Industrial Coatings Market
- 8.4.3. Rest of Latin America Industrial Coatings Market
8.5. Middle East & Africa Industrial Coatings Market
- 8.5.1. Saudi Arabia Industrial Coatings Market
- 8.5.2. South Africa Industrial Coatings Market
- 8.5.3. Rest of Middle East & Africa Industrial Coatings Market

Chapter 9. Competitive Intelligence

9.1. Key Company SWOT Analysis
- 9.1.1. Akzo Nobel N.V.
- 9.1.2. PPG Industries, Inc.
- 9.1.3. Sherwin-Williams Company
9.2. Top Market Strategies
9.3. Company Profiles
- 9.3.1. Akzo Nobel N.V.
  - 9.3.1.1. Key Information
  - 9.3.1.2. Overview
  - 9.3.1.3. Financial (Subject to Data Availability)
  - 9.3.1.4. Product Summary
  - 9.3.1.5. Market Strategies
- 9.3.2. PPG Industries, Inc.
- 9.3.3. Sherwin-Williams Company
- 9.3.4. Axalta Coating Systems Ltd.
- 9.3.5. Nippon Paint Holdings Co., Ltd.
- 9.3.6. BASF SE
- 9.3.7. Jotun A/S
- 9.3.8. Kansai Paint Co., Ltd.
- 9.3.9. RPM International Inc.
- 9.3.10. Valspar Corporation
- 9.3.11. Tikkurila Oyj
- 9.3.12. Beckers Group
- 9.3.13. Asian Paints Ltd.
- 9.3.14. Hempel A/S
- 9.3.15. Berger Paints India Limited

Chapter 10. Research Process

10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
10.2. Research Attributes