Industrial Coatings Market Size to Surpass US$ 111.93 Bn by 2030

Ottawa, April 08, 2022 (GLOBE NEWSWIRE) -- Precedence Research, Recently Announced Report on “Industrial Coatings Market – Global Industry Analysis, Market Size, Share, Growth Analysis, Trends, Regional Outlook and Forecast 2022 – 2030”.

The acrylic, alkyd, epoxy, polyesters, fluoropolymers, and other common polymers are used to make industrial coatings. The water resistance, abrasion resistance, chemical resistance, and ultraviolet radiation resistance are all attributes of the industrial coatings. Industrial coatings are in high demand for a variety of applications, including steel, concrete, wall, roofs, and other industrial materials.

Get the Sample Pages of Report@ https://www.precedenceresearch.com/sample/1048

The industrial coatings market expansion is being aided by rising demand for protective coatings and increased use of corrosion resistant coatings. On the other hand, the liquid coatings’ negative environmental impact is projected to stifle the industrial coatings market expansion. In the coming future, rising demand for long-lasting products is expected to provide an opportunity for the industrial coatings market.

Regional Snapshot

North America is the largest segment for industrial coatings market in terms of region. The usage of industrial coatings in several end use industries, such as automotive and general industries and mining, is predicted to grow significantly in the North America region.

Asia-Pacific region is the fastest growing region in the industrial coatings market. The low labor costs in Asia-Pacific’s growing economies have enticed many foreign investors to locate industrial operations in the Asia-Pacific region. As a result, the expanding number of manufacturing facilities in the region is boosting building and construction activity, which is expected to drive demand for industrial coatings over the forecast period.

Report Highlights

• Based on the product, the acrylic segment dominated the global industrial coatings market in 2020 with highest market share. Acrylic industrial coatings are widely utilized in automotive, aerospace, and automobile industries due to qualities including corrosion resistance, suppressing ability, better adhesion, quick drying, and corrosion resistance.
  
  
• Based on the technology, the solvent borne segment dominated the global industrial coatings market in 2020 with highest market share. Solvent borne industrial coatings are widely utilized in a variety of industries such as marine, oil, gas, and automotive. Lower drying times and enhanced performance in open and humid environments are predicted to propel the growth of the segment.
  
  
• Based on the end use, the general industry segment dominated the global industrial coatings market in 2020 with highest market share. The utilization of industrial coatings in construction, packaging, and agriculture is included in the general industry segment.
  
  

Ask here for more customization study@ https://www.precedenceresearch.com/customization/1048

Market Dynamics

Drivers

Surge in demand for durable products

The industrial coatings market growth is increasing as a result of various factors such as a significant increase in demand for highly durable products, followed by increased application of powder coatings, which is expected to boost the industrial coatings market’s expansion during the forecast period. Additionally, there has been a growth in demand for increasing trends in the production of durable products, which are expected to emerge as significant market potential prospects throughout the forecast period.

Restraints

Adverse effect of humidity on drying time

In humid climates, the drying time of acrylic coatings, as well as oil-based coatings, is greatly delayed. The oxidation technique is used to treat oil-based coatings to address this problem. Water borne coatings require less time to dry than solvent borne coatings because they dry through the natural drying process. Since wood appears to absorb moisture from the air, the process becomes more complicated when utilized on wooden surfaces. This has an impact on the adhesive qualities of the substrate as well. Many market players spend a significant amount of money on humidity test chambers. Thus, the adverse effects of humidity on drying time are restricting the growth of the industrial coatings market.

Opportunities

Rising utilization of environmentally friendly coatings

The rising adoption of environmentally friendly coatings in the market is due to the growing preference for water borne coatings. When water borne paints are unacceptable, powder-based coatings are becoming more popular since they do not emit volatile organic compounds while also optimizing important qualities for demanding end uses. The industrial coatings market is projected to be driven by the growing demand for lower volatile organic compounds and strict substance regulations, particularly due to increased environmental consciousness. Thus, rising utilization of environmentally friendly coatings is creating growth opportunities for the market.

Challenges

Climatic changes and industrial coatings’ harmfulimpact

The climate change is forcing companies and global major market players to differentiate between market products and alter their production methods to match the target audience’s increased demand during the projected period. The negative environmental impact of solvent borne coatings as a market segment is anticipated to stymie the industrial coatings market’s estimated and predicted growth during the forecast period. As a result, climatic and weather changes and industrial coatings’ harmful effects on the environment are major challenges for the growth of the industrial coatings market during the forecast period.

Browse more related reports of chemical and material industry@ https://www.precedenceresearch.com/industry/chemical-and-material

Market Segmentation

By Technology

• Powder Based
• Solvent Borne
• Water-Borne
• Others

By Product

• Epoxy
• Acrylic
• Alkyd
• Polyurethane
• Polyester
• Others

By End-user

• Electronics
• Aerospace
• General Industrial
• Marine
• Mining
• Power Generation
• Automotive & Vehicle Refinish
• Oil & Gas
• Others
  
  

By Regional Outlook

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
  
  

Click Here to View Full Report Table of Contents

Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1048

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333

About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

For Latest Update Follow Us:

https://www.linkedin.com/company/precedence-research/

https://www.facebook.com/precedenceresearch/

https://twitter.com/Precedence_R