Global Industrial Coatings Market Information-by Types (water based coatings, powder coatings, solvent based coatings), by Application (automotive OEMs, marine coatings, protective & maintenance coatings, coil coatings, packaging coatings, wood coatings and others) and by Region - Forecast to 2022
Pune, India -- (SBWIRE) -- 10/02/2018 -- Regional Analysis:
The Asia Pacific is the fastest and largest growing market for Industrial Coating. The rise in the number of industries and the increase in economic growth in emerging economies such as China and India is the prime determinant of the market.
North America market is expected to be led by the U.S. owing to technological advancements, substantial purchasing power, and demand for high-value advanced coatings such as Terrazzo. The Europe market is dominated by Germany, France and the U.K. The Middle East and Africa market is estimated to be governed by the oil and chemicals sector of Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
The major vendors operating in the Global Industrial Coating Market are BASF SE (Germany), Asian Paints PPG Pvt Ltd. (Mumbai), PPG Industries Inc. (U.S.), 3M Company (U.S.), A&I Coatings Pty Ltd (Australia), Nora Systems, Inc. (Germany),The Dow Chemical Company (U.S.) and CPC Floor Coatings (U.S.) and others.
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To gain a 360-degree assessment of the Global Industrial Coating Market, the report is segmented by Types, Applications and Regions.
Based on the Types, the market is segmented by water-based coatings, powder coatings, and solvent based coatings.
Based on the Applications, the market is divided by automotive OEMs, marine coatings, protective & maintenance coatings, coil coatings, packaging coatings, wood coatings and others.
Based on Regions, the market is bifurcated into North America, Europe, Asia Pacific, Middle East and Africa.
Growing Industrialization and Economic Growth Are the Prime Determinants of the Market
Increasing industrialization led by the developing world especially China and India is the prime driver of the market. The growth is driven by India and China with more than 7 % and 6 % respectively. The increase in industrialization has shifted to Africa region led by Ivory Coast, Kenya, Rwanda, Senegal, and Tanzania. These states are all expected to grow at impressive rates between 6 to 7 % or more. The growing population and per capita income are driving a tremendous demand for industrialized goods, which is feeding the market demand.
Product Development and Work Place Regulations Are Driving a Significant Demand
Product development such as chemical resistant, heat resistant, and electrostatic resistant floor coatings are creating a demand for the market. The need for electrostatic layers in electronics industry owing to their safety hazards is driving further growth. Growing employees, safety regulations are other drivers of growth. Demand for environment-friendly products and ease of maintenance, waterproofing, slip resistance, and puncture resistance coatings are driving the market growth. The demand is expected to be led by the pharmaceutical industries for microbial resistant coatings designed to reduce contamination.
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