The market is segmented by Resin (Epoxy, Polyurethane, Acrylic, Polyester and Others), by Technology (Water-borne Coatings, Solvent-borne Coatings, Powder Coatings, Radiation Cured Coatings and Others), by End-user Industry (Aerospace, Automotive, Consumer Durables, General Industrial, Marine, Wood, Other Transportation, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa).
The market for Industrial Coatings is anticipated to register a CAGR of over 4% during the forecast period. Factors such as growing demand for high durable products and increasing application of powder coatings are expected to offer numerous opportunities for growth in the industrial coatings market.
Increasing demand for eco-friendly coatings and growing usage of corrosion coatings are augmenting the growth of the market.
Harmful environmental impact of solvent-borne coatings is likely to hinder the market’s growth.
Increasing applications of powder coatings and rising demand for high durable products are projected to act as an opportunity for the market in future.
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