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Grand View Research
Reports on Global Industrial
Coatings Market Size and
Forecast up to 2020
According to a report from Grand View
Research, the global industrial coatings
market is expected to witness growth
owing to the increased importance of
corrosion resistance, high temperature
performance and enhanced service life
in automotive, marine, construction and
oil & gas industries. Technological development in solventborne and powder
coatings is expected to play a crucial
role in promoting industrial coatings
market growth over the forecast period.
Regulatory support aimed for reducing
VOC emission is likely to fuel eco-friend-ly coatings demand, and is expected to
have a positive impact on industrial coatings market in the near future.
Governments of India, China and
Middle East countries have increased
their expenditure on infrastructure,
which is expected to augment global industrial coatings market. Positive outlook
towards the oil & gas sector in BRICS is
expected to have a positive impact on industrial coatings market over the next six
years. Development of unconventional
resources such as shale gas and tight oil
in the U.S. and Canada is expected to
promote the use of industrial coatings as
solutions for providing corrosion resistance and wear protection in drilling and
exploration applications.
Major market participants include
PPG Industries, AkzoNobel, Axalta,
DuPont, Sherwin-Williams BASF, Nippon
Paints, Valspar and NOROO Paints
& Coatings. Application growth of in-
dustrial coatings in the automotive and
India. In May 2013, Axalta announced
an investment of $50 million for their
waterborne coatings manufacturing fa-
cility situated at Shanghai, China. The
plant is expected to supply 25,000 tons
of waterborne coatings for automobile
manufacturers located in South and
Central China.
