Industrial Liquid Coatings Market Size

Industrial Liquid Coatings Market Size

Industrial Liquid Coatings Market size was estimated over USD 45 billion in 2017 and the industry will grow by a CAGR of more than 6% up to 2025.

High growth in the U.S. oil & gas sector will propel the industrial liquid coatings market growth in the forecast time frame. Industrial coatings are preferably used in the oil & gas transmission pipelines along with the different equipment used in the drilling and oil production processes. The boom in upstream activities, increasing investments in the midstream sector, and the legislative support given by the new administration will subsequently escalate the liquid industrial coatings demand over the forecast timeframe. Thus, the increase in the production capacity of crude oil in the U.S. will contribute to the product market growth in the country in coming years.
 

Rapid industrial growth in the Asian countries will propel the liquid industrial coating market growth in coming years, driven by the extensive usage of the product in various industries including food & beverage, oil & gas, energy, electronics, manufacturing, etc. Asia Pacific has been witnessing a robust industrial development in the last two decades with the region accounting for almost 40% of the world output. Automotive, electronics, general manufacturing, and mining activities have witnessed a sharp growth over the last decade. Lower labor prices, easy raw material availability, and rising commodities’ demand have transformed it into a manufacturing hub of the entire world.
 

An adverse impact on the environment and human health caused due to the release of the volatile organic compounds from industrial liquid coatings is the major restraining factor affecting the product market growth negatively in the recent years. Prolonged or high exposure to coating fumes can cause headaches, trigger allergies and asthmatic reactions, irritate skin, eyes, and airways, and put increased stress on vital organs such as the heart.