Global Industrial Coating Market Bwc20139

Global Industrial Coating Market Bwc20139

Global Industrial Coating Market, By Material (Polyurethane, Acrylic, Alkyd, Epoxy, Fluor polymers and Others), By Type (Solvent, High Solids, Powder, Water and Others), By End-User Industry (Automotive OEM, Refinish, General Industrial, Marine, Aerospace, Wood and Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Market Competition Scenario & Outlook, 2016-2026

  • Published Date: August 2020
  • Report ID: BWC20139
  • Available Format: PDF
  • Page: 171

Report Overview

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.

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 Market Overview


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. 


Growth Drivers 


Rising Demand for Powder Coating


The powder-based 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 projection period.


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. 


Noteworthy: Engineering 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 glass.



The high cost of the raw material combined with the complexity of producing thin films in powder coatings


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 period.


Impact of COVID-19 in industry


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. 


Asia-Pacific is 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 Market Segmentation


By Material


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. 



Global Industrial Coating Market Share (%), By Material, By Value, 2016-2026 

By Type


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. 


Competitive landscape


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 value chain. 


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.


Recent Development 


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




Years Considered

Historical data – 2016-2019

Base Year – 2019

Forecast – 2020 – 2026

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia.

Product/Service Segmentation

By material, type and end user industry

Key Players

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.



By Material

Ø  Polyurethane

Ø  Acrylic

Ø  Alkyd

Ø  Epoxy

Ø  Fluoropolymers

Ø  Others

By Type

Ø  Solvent

Ø  High Solids

Ø  Powder

Ø  Water

Ø  Others

By End User Industry

Ø  Automotive OEM

Ø  Refinish

Ø  General Industrial

Ø  Marine

Ø  Aerospace

Ø  Wood

Ø  Others 

By Region:

Ø  Asia Pacific

Ø  North America

Ø  Europe

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 countries.

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 Coating Market.

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 market leaders.


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






1.    Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2.    Research Methodology

2.1. Qualitative Research

2.1.1.   Primary & Secondary Sources

2.2. Quantitative Research

2.2.1.   Primary & Secondary Sources

2.3. Market Breakdown & Data Triangulation

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4. Breakdown of Primary Research Respondents, By Region

2.5. Assumption & Limitation

3.    Executive Summary

4.    Global Industrial Coating Industry Insights

4.1. DROC Analysis

4.1.1.   Growth Drivers

4.1.2.   Restraints

4.1.3.   Opportunities

4.1.4.   Challenges

4.2. Recent Development

4.3. Regulatory Insights

4.4. Global Industrial Coating Leading Company Analysis, By Value, 2019

4.5. Porter’s Five Forces Analysis

4.5.1.   Bargaining Power of Suppliers

4.5.2.   Bargaining Power of Buyers

4.5.3.   Threat of New Entrants

4.5.4.   Threat of Substitutes

4.5.5.   Intensity of Rivalry

4.6.Global Industrial Coating Industry Trends Under COVID-19 Outbreak Analysis

5.    Global Industrial Coating Market Overview

5.1. Market Size & Forecast by Value, 2016-2026

5.1.1.   By Value (USD Billion)

5.2. Market Share & Forecast

5.2.1.   By Material     Polyurethane     Acrylic     Alkyd     Epoxy     Fluoropolymers    Others

5.2.2.   By Type       Solvent       High Solids       Powder       Water       Others

5.2.3.   By End User Industry     Automotive OEM     Refinish     General Industrial     Marine     Aerospace     Wood    Others

5.2.4.   By Region   North America   Europe   Asia Pacific   Latin America   Middle East & Africa

6.    North America Industrial Coating Market

6.1. Market Size & Forecast by Value, 2016-2026

6.1.1.   By Value (USD Billion)

6.2. Market Share & Forecast

6.2.1.   By Material

6.2.2.   By Type

6.2.3.   By End User Industry

6.2.4.   By Country     United States     Canada

7.    Europe Industrial Coating Market

7.1. Market Size & Forecast by Value, 2016-2026

7.1.1.   By Value (USD Billion)

7.2. Market Share & Forecast

7.2.1.   By Material

7.2.2.   By Type

7.2.3.   By End User Industry

7.2.4.   By Country     Germany     United Kingdom     France     Italy     Spain     Rest of Europe

8.    Asia Pacific Industrial Coating Market

8.1. Market Size & Forecast by Value, 2016-2026

8.1.1.   By Value (USD Billion)

8.2. Market Share & Forecast

8.2.1.   By Material

8.2.2.   By Type

8.2.3.   By End User Industry

8.2.4.   By Country     China     India     Japan     South Korea     Rest of Asia Pacific

9.    Latin America Industrial Coating Market

9.1. Market Size & Forecast by Value, 2016-2026

9.1.1.   By Value (USD Billion)

9.2. Market Share & Forecast

9.2.1.   By Material

9.2.2.   By Type

9.2.3.   By End User Industry

9.2.4.   By Country     Brazil     Mexico     Rest of Latin America

10.Middle East & Africa Industrial Coating Market

10.1. Market Size & Forecast by Value, 2016-2026

10.1.1.                By Value (USD Billion)

10.2. Market Share & Forecast

10.2.1.                By Material

10.2.2.                By Type

10.2.3.                By End User Industry

10.2.4.           By Country      Saudi Arabia      UAE      South Africa      Rest of Middle East & Africa

11.Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

11.1.           The sherwin-williams company

11.2.           PPG industries inc.

11.3.           Akzo nobel n.v.

11.4.           Nippon paint holdings co., ltd

11.5.           RPM International Inc. Business Overview

11.6.           Axalta coating systems, llc

11.7.           BASF SE

11.8.           Jotun as

11.9.           Kansai paint co., ltd.

11.10.        Noroo paint & coatings

11.11.        Tikkurila

11.12.        Dow Chemical Company


**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

Market Segmentation

By Material

Ø Polyurethane

Ø Acrylic

Ø Alkyd

Ø Epoxy

Ø Fluoropolymers

Ø Others

By Type

Ø Solvent

Ø High Solids

Ø Powder

Ø Water

Ø Others

By End User Industry

Ø Automotive OEM

Ø Refinish

Ø General Industrial

Ø Marine

Ø Aerospace

Ø Wood

Ø Others

By Region:

Ø Asia Pacific

Ø North America

Ø Europe

Ø Middle East & Africa

Ø Latin America

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