Industrial Coatings Market Forecast to Hit $150.19 Billion by 2032 Amid Steady Growth - Exclusive Report by SNS Insider

Industrial Coatings Market Expands as Demand Rises for Durable, Eco-Friendly Solutions Across Key Sectors.

AUSTIN, TX, UNITED STATES, February 6, 2025 /EINPresswire.com/ -- The global Industrial Coatings Market, valued at USD 110.2 billion in 2023, is expected to reach USD 150.19 billion by 2032, growing at a CAGR of 3.5% during the forecast period from 2024 to 2032. The market's expansion is primarily driven by the growing demand for innovations in coating technologies aimed at improving durability and performance.

Technological Advancements and Regulatory Support Fuel Market Growth

Governments and regulatory bodies across the globe are supporting the development and commercialization of advanced industrial coatings to ensure product durability and environmental sustainability. For instance, in 2023, the European Union introduced new regulations to reduce volatile organic compound (VOC) emissions, encouraging the adoption of eco-friendly, low-VOC coatings in industrial applications. This move is expected to drive the demand for water-based coatings and other environmentally friendly alternatives, providing growth opportunities for manufacturers.

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Key Players: 

- The Sherwin-Williams Company
- PPG Industries, Inc.
- Axalta Coating Systems
- Akzo Nobel N.V.
- Others

Market Segmentation and Sub-Segmentation Included are:

By Technology
- Waterborne
- Solventborne
- Powder Coatings
- Others

Solvent-borne segment led largest revenue share around 35% in 2023.

It is known for high quality, smooth finish, solvent-borne coatings are also effective for long-term, durable protection against corrosion, wear and chemical exposure. These wipes are especially popular among automotive, industrial equipment, marine, and other industries where harsh elements require the highest level of protection. In addition to that, the solvent-borne coatings have better flow and leveling which makes the coatings suitable for industrial usage.

By Resin
- Acrylic
- Alkyd
- Epoxy
- Polyester
- Polyurethane
- Vinyl
- Fluoropolymer
- Others

Acrylic held the largest revenue share in the Industrial Coatings Market around 37% in 2023.

It is owing to its versatile properties and several applications across various industries. Well-known for their weather resistant durability and the ease of application, acrylic coatings are a popular product. Such coatings have remarkable resistance to UV degradation, making them suitable for several applications, particularly in the automotive, construction, and architectural sectors, which are mostly outdoor. Moreover, acrylic coatings are quick-drying and have rich and dynamic colors making the colored surfaces also visually more pleasing.

By End-Use Industry
- General Industrial
- Protective
- Automotive Refinish
- Automotive OEM
- Industrial Wood
- Marine
- Coil
- Packaging
- Aerospace
- Rail

General industrial coatings held the largest market share.

General industrial coatings are used to grace and protect the durability of machinery, equipment, and infrastructure in manufacturing, oil & gas and heavy machinery sector. On account of spread of extreme environmental conditions, corrosion resistance, and enhanced lifecycle of industrial assets this is the major driver for the market of these coatings. As the industries across the globe have been focusing on increasing the lifespan of their equipment while simultaneously reducing the cost of maintenance, the demand for high-performance industrial coatings has increased.

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Asia Pacific held the largest market share of around 43% in 2023.

Rapid industrialization, increasing manufacturing base in emerging economies, and rise in demand for coatings from end-use sectors such as automotive, construction, and general industrial applications are factors that contribute to the largest market share of Asia-Pacific in Industrial Coatings Market. Shoeboxes and Stabbies represent why nations that are compromised like China, India, Japan are the third-largest dumpster fire the region is burning, building infrastructure projects, automotive industries, and vast manufacturing operations.

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