The Industrial Coatings Market
Industrial coatings manufacturers express optimism for the coming year.
by Kerry Pianoforte, Associate Editor
The industrial coatings market is beginning to recover from the recent economic downturn. The strengthening global economy has led to an increase in newbuilding and maintenance in both the private sector and public works projects.
“In the protective and marine segments that we serve, we have
seen positive growth over the past year due to the continued
global economic recovery and increased activity in the industrial
sectors,” said Narsi Bodapati, vice president marketing, Sherwin-Williams Protective and Marine Coatings.
Overall the industrial coatings market experienced growth,
with some segments performing better than others. “There were
quite a few delays in some projects in specific segments, however
other areas were less influenced by the financial crisis,” said Dim-itris Likouressis, group protective marketing manager, Hempel.
“Energy demand and supply regardless if it is based on fossil
fuels, on renewables, such as wind or even nuclear, will continue
being the key question during the coming decades,” Likouressis
said. “The growth of the economies in the long-term and despite
the current situation will result in a higher need for metals and for
better infrastructure in terms of transport-related facilities, water
and wastewater networks. All the above represent interesting business opportunities for us and we are definitely looking into them.”
The industrial coatings market is comprised of smaller sub-categories, such as onshore oil and gas, commercial architecture
and industrial maintenance.
“In terms of relative size, the marine, oil and gas and general
commercial industrial segments are the largest global sectors we
serve,” said Badapati. “However, great opportunity is present in
every market in which we operate. Our market segmentation
strategy allows us to understand the customers’ needs, identify
trends—often before they are articulated—and provide solutions.
That is how we are pursuing our goal to be the market leader in
each industry we serve.”
The commercial architecture and industrial maintenance seg-
ments stand to benefit from high-growth markets. “The emerging
markets around the world represent a tremendous opportunity for
protective coatings suppliers,” said Badapati. “New infrastructure
projects, such as bridges and water treatment facilities, and the
growth of commercial/industrial businesses, are driving the need
for coatings used for asset protection.”
“The geographic areas that present growth opportunities are
different depending on each segment. It is clear though that China,
India, Brazil and CIS (Commonwealth of Independent States from
the former Soviet Republic) countries will be among those regions
of high growth, “ said Likouressis. “This is also why we are
strengthening our global supply chain with new production facili-
ties in Poland, China, Russia, India and South America.”
Protecting assets, and the environment
Industrial coatings must protect substrates in some of the harsh-est conditions. Environmental legislation has added to the challenge, by forcing coatings manufacturers to develop durable
coatings that both meet environmental regulations and deliver
outstanding performance.
“There has been a significant shift away from coatings that
emit higher volatile organic compounds (VOCs) toward more
environmentally friendly alternatives of either waterborne coat-
