Industrial Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2026
United States, 10 March 2017 -- Industrial coatings are extensively used in various applications in end-user industries such as construction, steel, decorative, automotive, marine, furniture, and oil & gas.
Industrial coatings are special type of paint that prevents damage and corrosion from weakening metal or plastic in an equipment. Apart from their protective and functional properties, industrial coatings also provide esthetic features. These coatings primarily aim to protect an item by avoiding various types of corrosion. Industrial coatings are majorly used to prevent corrosion of steel and concrete. These coatings also help in making the material less prone to fire and other hazards. Industrial coatings enhance the overall lifetime of the material. This, in turn, leads to a decrease in replacement costs. Industrial coatings can be applied in different ways such as air sprays, rollers, dip coatings, paint brush, and airless sprayers, Complex methods of application of industrial coatings include electro-coating, spinning, and autophoretic application.
Polymers that are used as coatings are polyurethane, fluoropolymer, moisture cure urethane, and epoxy. Industrial coatings are broadly classified into four different types: solvent base, waterborne, anti-fouling, and powder coating. Solvent base industrial coatings are made up of liquefying agents, which evaporate through the chemical reaction with oxygen. These coatings are also called oil based or alkyd coatings. Organic solvent content is significantly higher than that in other water based solvents. These coatings are used in automotive equipment, vehicles, construction activities, and agricultural machinery. Epoxy primer, e-coat, and urethane topcoat are the polymers used in these coatings. These help protect the material from acids, humidity, oils, salts, and abrasions.
Waterborne products either do not have any solvents or have considerably less solvents. They are mostly employed in household paints. Environmental compliance is one of the major reasons for choosing these coatings. Waterborne coatings are nonhazardous, nonflammable, and nontoxic which are mostly employed in fuel storage tanks and rail road tanks.
Anti-fouling are the underwater bottom paints that are applied to the outer layer of ship or boat. These coatings are tin free with long lasting, bright colors, and cost-effective properties. Anti-fouling coatings help protect against fresh and salt water conditions. These are used in wood, steel, and fiber glass. Powder coatings are applied as free flowing or dry powder. These coatings do not require any solvent.
Powder coatings not only offer protection but also enhance esthetics. These are mainly used in household appliances, automobiles, etc. Industrial coatings are extensively used in various applications in end-user industries such as construction, steel, decorative, automotive, marine, furniture, and oil & gas. This is a key factor driving the industrial coating market.
In terms of region, the global industrial coatings market is expected to be dominated by Asia Pacific, especially China and India. Growth in the marine industry is one of the prominent factors boosting the demand for industrial coatings in China. The Government of India has also started various investment programs for supporting infrastructure and construction industries. This is anticipated to propel the industrial coatings market in the country.
The industrial coatings market in North America and Europe is expanding constantly. The restraining factor for this market particularly was due to sector perspective, as oil and gas sector and agricultural sector were facing a tough challenge in their respective segment, which has affected the industrial coating market globally. Expansion in automobile, marine, and infrastructure industries is augmenting the industrial coatings market.
Key players operating in the industrial coating market include PPG Industries, Inc., Akzo Nobel NV, Sherwin-Williams Co, RPM International Inc., Axalta Systems, The Valspar Corp., BASF Coatings, Kansai Paint Co.Ltd., Nippon Paint Holdings Co., and Asian Paints Limited.
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