While some areas in the diverse market for industrial coatings have slowed, there are
some bright spots and the market grew by an estimated three percent in 2014.
The Industrial
Coatings Market
Kerry Pianoforte, Editor
The market for industrial coatings is a highly segmented market that includes such diverse segments as offshore oil and gas, commercial architecture, general industrial
and industrial maintenance. Industrial coatings manufacturers
interviewed by Coatings World reported that while growth rates
have slowed in some segments, others segments, such as oil and
gas, are driving growth.
“We track the external market trends in a number of our
global end use markets such as industrial production, commercial
construction new builds, transportation builds, electrical motor
production and pipeline miles constructed,” said Michael Cash,
senior vice president and president, industrial coatings, Axalta
Coating Systems. “Our best estimate based on aggregated third
party data is that the global industrial coatings end markets grew
by three to four percent in 2014. By working closely with our
customers, and by welcoming many new customers to the Axalta
family in 2014, we were able to grow faster than the overall size
of a number of our end use markets last year.”
“The industrial coatings market covers a large and diverse
range of segments and applications,” said Shelley J. Bausch, vice
president, Global Industrial Coatings, PPG. While growth rates
have slowed in some of these segments due to end market reduc-
tions (such as heavy duty equipment), others continue to deliver
strong growth performance. With PPG’s global capabilities, we
have been able to leverage these areas of growth to continue to
outpace the market.
“Additionally, as customers continue to look for ways to
improve performance and provide new functionality to their
end products, new areas of growth are evolving for coatings,”
Bausch added. “High performing coatings can be used to meet
multiple needs, reducing the need for speci;c substrates or re-
placing mechanical solutions.”
Sherwin-Williams has seen growth in several areas, including
wood ;nishing, general ;nishing, heavy equipment and build-
ing products. “One market that we’re particularly excited about
is OEM pre;nished residential and commercial wood ;ooring
Photo credit: Sherwin-Williams
