Industrial Coatings Market Key Players:
The major participants of this market are: AkzoNobel N.V, BASF SE, PPG Industries Inc., Valspar (U.S.), Sherwin-Williams Co. Ltd, DuPont Co, NOROO Paints & Coatings, Asian Paints, Burke Industrial Coatings, Industrial Nanotech, Inc. and others.
Industrial Coatings Market Overview:
Global Industrial Coatings Market was valued to be USD 24.2 billion in 2016 and is expected to reach USD 31.4 billion by the end of 2022, growing at the CAGR of 3.9 % from 2016 to 2022.
Global Industrial Coatings is used in various industries like automotive, building & construction, marine, oil & gas, medical & healthcare and others due to its corrosion resistance property. Industries are looking for innovation in coatings such as increased service life, improve corrosion resistance and bio based coatings that will fuel the industrial coatings market. Strict government regulations regarding disposal of petrochemical products in environment can restrain the market in the coming years.
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Industrial Coatings Market Segmentation:
Industrial Coatings Market is majorly segmented on the basis of types and application. Based on types of industrial coatings the market is segmented into water-based coatings, powder coatings, solvent based coatings. Similarly, on the basis of application the market is classified into automotive OEMs, marine coatings, protective & maintenance coatings, coil coatings, packaging coatings, wood coatings and others.
Industrial Coatings Market Regional Analysis:
Industrial Coating Market owing to rapid industrialization, growing infrastructure activities to meet population demand and easy availability resources. Favourable government regulations such as FDI flow in building and construction industry in countries such as China, India, Japan and Indonesia are anticipated to augment industrial coating in this region. Furthermore, economic development of countries like South Africa, Brazil and France and increasing industrial activities are estimated to further facilitate industrial coating demand. Upcoming events like FIFA world cup in 2018 in Russia would provide new opportunities to industrial coating manufacturer.
Asia Pacific accounts for largest share of global industrial coatings market. China being a largest producer of paints & coatings demand for industrial coatings on a large scale. Rapid industrializations, favorable government regulations and increase in consumer spending will significantly grow the industrial coatings market in emerging economies such as China, India and Japan. This market in North America is witnessing a constant growth due to stable marine activities, currency fluctuations as a result of uncertainties and lowering price of oil crude. Government of counties like Indonesia, Thailand and Malaysia are increase trade which is supporting industries through tax subsidies, regulations and incentives.
Industrial Coatings Market Competitive Analysis:
Industrial Coatings Market is fragmented with major manufacturer from North America and some few from Asia Pacific region. Major players in market are adopting strategies such as acquisitions, partnerships, expansion and new technology development. Key market participants are acquiring small players in the market in order to tap large market share. Additionally, manufacturer is collaborating with distributors to increase their presence and meet the global demand. Manufacturers are focusing more on high performance coatings by lowering of greenhouse gases along with development of bio-based coatings. Utilizing their international and regional presence, these manufacturers assure their customers with the consistency in product & service quality.
Industrial Coatings Market Table of Content to be Continue…….,
Complete table of content is available at @ https://www.marketresearchfuture.com/reports/industrial-coatings-market-2136
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