Published Date : 24, 2022
The global industrial coatings market is expected to garner growth at a CAGR of 3% during the forecast period and to reach over USD 111.93 billion by 2030.
Industrial coatings are made from acrylic, alkyd, epoxy, polyesters, fluoropolymers, and other polymers. Industrial coatings have characteristics such as water resistance, abrasion resistance, chemical resistance, and UV radiation resistance. Steel, concrete, walls, roofs, and other industrial materials all benefit from industrial coatings, which are in high demand. Rising demand for protective coatings and greater use of corrosion resistant coatings are helping to propel the industrial coatings industry forward. The negative environmental impact of liquid coatings, on the other hand, is expected to limit market growth in the industrial coatings sector. The industrial coatings industry is projected to benefit from increased demand for long-lasting products in the near future.
The industrial coatings market is likely to expand during the forecast period as a consequence of numerous factors such as a considerable increase in demand for highly durable products, followed by greater application of powder coatings. In addition, there has been an increase in demand for durable product production trends, which are projected to emerge as important market potential prospects during the forecast period. In the upcoming years, rising demand for industrial coatings for applications such as caps, cans, and closures is expected to boost industrial coatings market growth. Product resistance, flexibility, adhesion, and good CO2 retention qualities for freshness preservation are all factors driving up demand for industrial coatings in packaging sector during the forecast period.
|Market Size in 2022||USD 88.14 Billion|
|Largest Revenue Holder||Asia Pacific|
|Fastest Growing Region||North America|
|Growth Rate||CAGR of 3% from 2022 to 2030|
Future of Industrial Coating Market
The increased preference for water borne coatings has resulted in a rise in the use of environmentally friendly coatings in the industry. When water borne paints are not an option, powder-based coatings are becoming increasingly popular since they don’t release volatile organic compounds while yet delivering crucial end use features. The desire for reduced volatile organic compounds to drive the industrial coating market, especially as people become more environmentally concerned. As a result, the industrial coating market is growing due to the increased use of ecologically friendly coatings.
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