Wilmington, Delaware, United States, July 21, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – 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.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 78.9 Bn | |
| Estimated Value | US$ 118.4 Bn | |
| Growth Rate – CAGR | 5.4% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 437 Pages | |
| Market Segmentation | Chemistry, Layer, Technology, End-use | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
| Companies Covered | 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 | |
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…
