Global Industrial Coating
Market size- Industry Trends & Outlook Report 2026
Global Industrial Coating
Market size is estimated at USD 85.61 billion in 2019 and is expected to reach
USD 104.22 Billion by 2026 at a CAGR of 3.12%, over the projection period
2020-2026. Industrial Coatings
Market is primarily driven by the massive rising refinish industry in the
emerging economies on the backdrop of rapid industrialization and increased
spending on infrastructure. Industrial coatings enhance chemical resistance,
water resistance, durability, impact resistance, abrasion resistance, and UV
light resistance in the various structures of concrete, steel, board, wall,
roofs, and other industrial materials. Therefore, they are extensively used in
the automotive and oil and gas industries besides other sectors, further
driving the growth of the market.
Global Industrial Coating
Industrial Coating is an
excellent method of corrosion protection. Coatings can be applied to a
substrate by using distinct methods such as spray, roller or brush, plating,
sealing, etc. It is a thin film applied to various materials including,
concrete, steel, and other surfaces where its layers work as the barrier
between the electrolyte (water or moisture) and the substrate and also helps
prevent corrosion of the substrate surface. Application of these films of
polymers includes polyurethane, epoxy, acrylic, alkyds and polyester.
Industrial coatings are
specially engineered products for corrosion safety, wear-resistance and
improved aesthetics. They protect the parent material and limit direct exposure
to harsh, degrading weather. The coating technology is used to incorporate an
organic film with a substrate material that has the desired protective,
mechanical, optical, ageing, and adhesion properties. Most technologies
process, transform resins, pigments, and additives into industrial coatings
that are used in industries such as the Automotive OEM, Refinish, General
Industrial, Marine, Aerospace, Wood and others. Environmental laws and
water-based technologies are favorable critical factors contributing to the
industrial coatings market growth.
The changing trend
towards equipment protection has stimulated the market for industrial coatings
in the manufacturing, shipping, chemical, and food processing industries.
Increasing adoption of large, high-performance machinery & equipment and
automotive & aviation companies has increased the need for efficient
coatings which strongly support long-term usage demand. Advances in production
units to safeguard the quality of the interior structure and its certification
would accelerate market growth for industrial coatings. Its growing awareness
among manufacturers is expected to drive market growth further.
Rising Demand for Powder
industrial coating technology is a highly efficient process with the over 98%
recoverability of powder over spray and, higher chipping, scratching, fading,
and wearing resistance than other finishes contribute to its increased demand
in the end-user industry.
The demand for powder
coatings has been rising with the increasing need for robust and eco-friendly
coatings. Powder coatings offer long-lasting lustre and high durability due to
their high abrasion & corrosion resistance and UV-resistance. They are
often environmentally friendly, as they emit minimal toxic compounds and
contain fewer solvents, thereby leading to further expansion during the
Increasing Demand for
Polyester Coating From Construction Industry
The construction industry is the major
consumer of polyester coating, contributing to the growing demand for polyester
coatings. The demand from the building and finishing industry is expected to
rise in the coming years with the increasing income and global population,
particularly the middle class. Inevitably it would gain momentum due to rising
investment in infrastructure development & outlay and rapid urbanization in
the coming years.
and Refinish (E&C) industry Current Market Trend
Despite witnessing zero
per cent growth in 2019, the US engineering and refinish (E&C) industry
started the year 2020 on a positive note. The Refinish Confidence Index for
Allied Builders and Contractors March 2020 was below the mark of 50, which is
the point signifying the divide between expansion and contraction. Jobs in
Refinish dropped to its lowest level since January 2016 at 975,000 in April 2020.
In addition to labor-related problems, the E&C industry is likely to face
many other short-term pandemic obstacles, such as delays or projects being
placed on hold, difficulties in securing project approvals, increased project
cancellations, increased lawsuits and litigation, and difficulties in the
sourcing of materials and equipment from Asia, such as structural steel and
The high cost of the raw
material combined with the complexity of producing thin films in powder
Powder coatings offer
decent flow properties, reduced edge build-ups and precise raw material
distribution in the powder mixtures. These may be used in decorative,
mechanical, and protective coatings. Powder coatings, however, produce a dense
finish on metal parts. It is challenging to manufacture thin finishes using
traditional powder coatings, as polymer thickening can lead to an irregular
texture being formed. Nonetheless, the high cost of raw materials due to the
volatile prices of crude oil and the strict regulations on the use and disposal
of commodities are expected to impede global demand growth during the forecast
Impact of COVID-19 in
The global economy and
humanity have been pushed into a crisis due to the COVID-19 pandemic. Due to
the high infection rate and adverse impact on public health systems, various
governments have enforced nationwide lockdowns significantly impacting
manufacturing supply chains, trade and related services. Players are currently
considering digital solutions which will enable them to serve the community and
provide new opportunities to do business. Due to the lockdown impact on various
industries, it is expected that the demand for industrial coating will also get
hit for the time being. Production and operation, as well as infrastructural
activities, have slowed down globally to limit the spread of coronavirus, which
is further anticipated to impact the demand for industrial coatings.
anticipated to get profoundly affected by the spread of the COVID-19 as China
is the epicentre of this lethal disease with robust chemical industry.
Currently, Italy, Spain, France, the United Kingdom, the United States have a
vast number of corona virus-positive cases.
Global Industrial Coating
Based on material, the
Global Industrial Coating Market is segmented into Polyurethane, Acrylic,
Alkyd, Epoxy, Fluoropolymers and Others. In 2019, the acrylic sector dominated
the global market for industrial coating, with substantial market share and, is
anticipated to maintain its share due to its heavy usage in construction
machinery, structural steel, manufacturing site, tubing, heavy casting, metal
processing, automobile, consumer appliances and other applications during the
projection period. Accompanied by acrylic, alkyd material is expected to
contribute a substantial market share. Also, properties such as abrasion
resistance, fire resistance, vapor permeability, UV light resistance, high
weather resistance and gloss retention fuel their demand.
Coating Market Share (%), By Material, By Value, 2016-2026
Based on Type, the Global
Industrial Coating Market is segmented into the Solvent, High Solids, Powder,
Water and Other segments. Increasing demand for high-performance coatings with
enhanced useful life and corrosion resistance are expected to drive growth in
the industry. Solvent-type industrial coating dominates the global industrial
coating market, and the segment is expected to grow at a substantial rate
during the forthcoming period, followed by Powder segment. For various
applications in electrical & electronics, industrial assembly, and
furniture, the powdered industrial coating offers low VOC material, high
durability, superior performance and cost-efficiency among others. Besides,
extensive use of the drug on industrial machines and their components to avoid
chemicals, heat, oil, and mechanical stress also drives the market growth.
By End-User Industry
In terms of End-User Industry,
the Industrial Coatings market is divided into Automotive OEM, Refinish,
General Industrial, Marine, Aerospace, Wood and Others. General Industrial
sector secured the significant market share in 2019 and is projected to cater
to the large market share during the forecast period of 2020-2026 due to its
usage in coatings of drums, barrels, containers, consumer goods, decorative
items, ventilation besides wide application in cooling coatings, auto ancillary
industry coatings, metal furniture, coatings for devices and links, general
metal industry coatings and many more. For general industry, industrial
coatings are used to protect the surface from corrosion, UV radiation, wear and
tear and to enhance its performance. Industrial coatings also help improve
resistance to impact and abrasion.
Global Industrial Coating
Market: Regional insights
The Global Industrial
Coatings Market is segregated into five key regions, namely, North America,
Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The leading players for
Industrial Coating Market are The Sherwin-Williams Company, PPG Industries,
Inc., Akzo Nobel N.V., Nippon Paint Holdings Co Ltd, RPM International Inc.,
Axalta Coating Systems, BASF SE, The Dow Chemical Company, Others Include:
Jotun Group, Kansai Paint Co., Ltd, NOROO Paint & Coatings Co., Ltd.,
TIKKURILA OYJ etc. The market is fragmented in nature with the involvement of
numerous major players and some global and regional small- and medium-sized
players worldwide. Business players compete based on the given product quality
and the equipment used for the manufacture of industrial coatings. Major
players are engaged in mergers and acquisitions, expansion of their
manufacturing facilities, infrastructural growth, investment in R&D
facilities and the quest for opportunities to expand vertically through the
Industrial coating companies
have been effective in catering to a variety of customers through its broad
range of products, expansion and innovation, thereby retaining their grip on
the industrial coatings industry. For instance, PPG Industries Inc. has been
effective in reaching industrial and manufacturing needs due to its dominance
in the automotive sector.
May 2020: Global manufacturer of
coatings Hempel begins refinishing a new factory with over 1 lac ton production
capacity in Yantai Chemical Industrial Park, China. The new factory will be
operational from 2021 and meet the region's rising demand for more sustainable,
innovative coating solutions.
March 2020: Nippon Paint, Asia's leading manufacturer of paint in terms of
sales, has announced plans to launch its paint for the automotive aftermarket
in Nepal. By being available across 600 body and paint shops, Nippon Paint aims
to account for at least 20 per cent of market share by year-end.
Scope of the Report
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil,
Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia.
By material, type and end user
Key players for Industrial Coating Market includes: The
Sherwin-Williams Company, PPG Industries, Inc., Akzo Nobel N.V., Nippon Paint
Holdings Co Ltd, RPM International Inc., Axalta Coating Systems, BASF SE, The
Dow Chemical Company, and others such as Jotun Group, Kansai Paint Co., Ltd,
NOROO Paint & Coatings Co., Ltd., TIKKURILA OYJ etc.
Ø High Solids
By End User Industry
Ø Automotive OEM
Ø General Industrial
Ø Asia Pacific
Ø North America
Ø Middle East & Africa
Ø Latin America
The objective of the Study:
Ø To analyze and forecast the global Industrial Coating market
size of the market, in terms of Value.
Ø To examine the market segmentation carefully and project the
market size, in terms value, based on the region by segmenting the Global
Industrial Coating market into five regions, namely, North America, Europe,
Asia Pacific, Latin America, Middle east & Africa and their leading
Ø To outline, categorize and estimate the global Industrial
Coating market based on the material, Type and End User Industry.
Ø To examine competitive developments like technological
advancement, services, and regulatory framework within the Global Industrial
Ø To highlight the impact analysis of the factors, affecting the
market dynamics such as drivers, restraints, opportunities, and challenges.
Ø To strategically profile the key players and comprehensively
analyze their market shares along with detailed competitive landscape for
Business Questions Answered by the Report:
Ø How will the market drivers, restraints, and opportunities
affect the market dynamics?
Ø What will be the market size in terms of value and volume and
market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will
be the fastest-growing, and why?
Ø Who are the key players in the market, and what is their share?
Ø What is the strategy adopted by key players, and how does it
affect the existing and new players?
Customization Scope for the Client:
Client satisfaction is our first and last priority, and that is
why BlueWeave Consulting offers customization as per client’s specific needs.
The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of five additional companies
Ø Additional country analysis
Ø Detailed segment analysis