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Industrial Coatings Market Size

Report ID: GMI6390
Published Date: Aug 2023
Report Format: PDF

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Industrial Coatings Market Size

Industrial Coatings Market size was valued at around USD 105.2 billion in 2023 and is expected record 2.5% CAGR through 2032. As industrial activities and infrastructure projects increase globally, the demand for protective coatings for machinery, equipment, and structures rises. Industrial coatings help protect surfaces from corrosion, weathering, and wear, extending the life of assets and reducing maintenance costs.

Industrial Coatings Market

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The automotive industry is a significant consumer of industrial coatings, using them for vehicle bodies, components, and other parts. As vehicle production increases, so does the demand for automotive coatings.

Industrial Coatings Market Report Attributes
Report Attribute	Details
Base Year:	2023
Industrial Coatings Market Size in 2023:	USD 105.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	2.5%
2032 Value Projection:	USD 130.8 Billion
Historical Data for:	2018 - 2023
No. of Pages:	240
Tables, Charts & Figures:	301
Segments covered:	Resin Type, Product Type, Technology, Functionality, End-use, Region
Growth Drivers:	Increasing industrial activities Expansion of the automotive industry Growing aerospace industry
Pitfalls & Challenges:	Increasing industrial activities Expansion of the automotive industry Growing aerospace industry

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The prices of raw materials used in industrial coatings, such as resins, pigments, and solvents, can be volatile, impacting profit margins and overall cost structures for manufacturers. Developing high-performance coatings that meet industry-specific requirements can be technically challenging and may require significant research and development investments. The industry must comply with increasingly stringent environmental regulations regarding volatile organic compounds. Thus, the high-end pricing and risks associated with Industrial coatings may drive down the acceptance rate, further hampering the business growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Industrial coatings industry recorded USD 105.2 billion in 2023 and is estimated to reach USD 130.8 billion by 2032, due to increasing number of infrastructure projects and rising demand for protective coatings in machinery, equipment, and structures worldwide.

Demand for epoxy industrial coatings reached USD 35 billion in 2022 and will gain significant revenue share through 2032, owing to widespread popularity in heavy industries, such as aerospace, marine, and oil and gas.

The primers application segment recorded 40% of the industrial coatings market share in 2022 and is expected to witness significant growth by 2032 driven by the increasing demand for anti-corrosion properties in marine, automotive, and infrastructure sectors.

U.S. industrial coatings industry size was USD 20 billion in 2022 and will see significant growth through 2032, owing to the rising need to enhance aesthetics, provide corrosion resistance, and meet automotive OEM specifications in the region.