Research Nester’s recent market research analysis on “Industrial Coatings Market: Global Demand Analysis & Opportunity Outlook 2033” delivers a detailed competitors analysis and a detailed overview of the global industrial coatings market in terms of market segmentation by resin, technology, application, and by region.
Growing Need of Fuel-Efficient Vehicles to Drive Growth of Global Industrial Coatings Market
Increasing awareness about vehicle paints protection by healing damages and scratches on vehicle surfaces is expected to boost the market growth. Moreover, expanding consumer base and rising disposable income are another factors that are anticipated to increase the product demand in the automotive and other end-use industries during the forecast period. Further, increasing demand for industrial coatings from packaging applications, such as caps & closures, and cans, is projected to positively influence the market growth in the coming years.
The market research report also includes other growth factors and challenges that are associated with the growth of the global industrial coatings market. Some of the major growth indicators are:
Growth Drivers:
- Surge in Vehicle Production
- Increased Research & Development Expenditure
Challenges:
The growing costs of raw materials along with the stringent government rules on the usage of Volatile Organic Compounds (VOC) and rising concerns of adverse effect on environment are some of the major factors anticipated to hamper the growth of the global industrial coatings market. Despite of the numerous restraint factors associated with the growth of the market, Research Nester’s analysis indicates a robust growth for the market during the forecast period
The market research report on global industrial coatings encompasses an in-depth analysis of the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends. These analyses help organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future. Additionally, the growth opportunities exposed by the market is poised to gain significant momentum in the next few years.
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By application, the global industrial coatings market is segmented into general industrial, automotive & transportation, industrial wood, marine protective, packaging, and others. Out of these, the automotive & transportation segment is attributed to garner the highest market share by 2033, owing to high demand of vehicles. International Organization of Motor Vehicle Manufacturers (OICA), released the global sales of vehicles statistics which revealed that it rose from 56,398,471 units in 2021 to 53,917,153 units in 2020.
By region, the Asia Pacific industrail coatings market is to generate the highest revenue by the end of 2033. This growth is rising construction sector and automotive industry in the region. Also, the rise in disposable income, GDP level and construction industry are some of the other factors that is anticipated to increase the adoption rate of wood coating.
The research is global in nature and covers detailed analysis on the protective coatings market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising of global industrial coatings market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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This report also provides the existing competitive scenario of some of the key players of the global industrial coatings market which includes company profiling of PPG Industries, Inc., Akzo Nobel N.V., Jotun A/S, Sherwin-Williams, BASF, Axalta Coating Systems, Nippon Paint Holdings Group, Henkel AG & Co. KGaA, Hempel A/S, Beckers Group, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial coatings market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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