Industrial Coatings Market Size to Hit USD 118.4 billion by 2031Posted by Kaustubh Ravan on July 3rd, 2024 The global industrial coatings market is projected to flourish at a CAGR of 5.4% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 118.4 billion is anticipated for the market in 2031. As of 2023, the market for industrial coatings is expected to close at US$ 82.5 billion. The growing industrialization and infrastructural developments particularly in emerging economies to drive the demand for industrial coatings to protect equipment, machinery, and structures from corrosion, wear, and environmental damage. The increasing application of industrial coatings in various end-use industries such as automotive, metal, mining, aerospace & marine drives the market growth during the forecast period. Request Sample Report on Industrial Coatings Market Analysis 2031. TMR - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=19742 Competitive Landscape The industrial coatings are highly consolidated with presence of few market players. The leading players in the market are investing in new product development, mergers, acquisitions to gain competitive edge. Transparency Market Research has profiled the following players in its global industrial coatings market report: The Sherwin-Williams Company, The Lubrizol Corporation, BASF SE, Kao Corporation, PPG Industries, Inc., Hempel A/S, Jotun A/S, Akzo Nobel N.V., Nippon Paint Holdings Co., Ltd., KANSAI HELIOS Group, Carboline, and SilcoTek. Key Developments in the Industrial Coatings Landscape:
The expansion of infrastructure projects, including construction of buildings, bridges, and roads, increases the demand for industrial coatings to provide protection, aesthetics, and longevity to these structures. The increasing application of industrial coating in aerospace industry to protect aircraft and aerospace components from extreme conditions, fueling the demand for high-performance coatings. The growing emphasis on sustainability, and environmental regulation the demand for eco-friendly coatings is expected to rise. The increasing focus on energy-efficient solutions has led to the use of reflective coatings in roofing and buildings to reduce heat absorption, contributing to energy savings. The increasing technological advancements in coating technologies, such as water-based coatings, high-performance polymers, and nano coatings contribute to the market expansion. Key Takeaways from the Market Study
Industrial Coatings: Key Trends and Opportunistic Frontiers
Industrial Coatings Market – Regional Analysis
Industrial Coatings Market - Key Segments Chemistry
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