Industrial Liquid Coatings Market Size to Surpass USD 99.7 Billion Through 2027, Says MarketsandMarkets™ Research
The Industrial Liquid Coatings Market size is projected to grow to USD 99.7 Billion in 2027 from USD 81.9 Billion in 2022, at a CAGR of 4.0%, according to a new report by MarketsandMarkets™. Growing demand for Industrial Liquid Coatings due to the increasing demand of environment-friendly coatings.
Increasing demand for environmentally friendly coatings, need for efficient process and durable coatings with better aesthetics, and growing demand from the Asia Pacific region are driving the global industrial liquid coatings market. However, the difficulty in obtaining thin films, requirement of more drying time for water-based coatings are obstructing the overall growth of the market. Attractive prospects for coatings in shipbuilding and pipeline industries and increasing use of nano-coatings are expected to provide opportunities in the industrial liquid coatings market; conversely, stringent regulatory policies are expected to pose a challenge to its growth.
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The Asia Pacific is the largest Industrial Liquid Coatings Market during the forecast period.
Asia Pacific encompasses a diverse range of economies with different levels of economic development and multiple industries. The development of the market is mainly attributed to the high economic growth rate followed by heavy investment across industries, such as automotive, consumer goods & appliances, and others. Key players are expanding their Industrial Liquid Coatings production in Asia Pacific, especially in China and India. The advantages of shifting production to the region are the low cost of production and the ability to better cater to the emerging local markets.
The key players profiled in the Industrial Liquid Coatings Market report are:
- Akzo Nobel N.V. (Netherlands),
- PPG Industries (US),
- Sherwin-Williams (US),
- Axalta coating systems, LLC (US), and
- Nippon Paint (Japan).
- others
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Akzo Nobel N.V. is a diversified chemical company. It is active in the fields of decorative paints, performance coatings, and specialty chemicals. Akzo Nobel N.V. has a strong customer base and operates in many countries of Europe, North America, Asia Pacific, South America, and the Middle East & Africa. The company has business activities in more than 80 countries around the world. It has a wide product portfolio which includes brands such as Dulux, Sikkens, Butanox, Elotex, International, and Interpon. The company has 548 offices and manufacturing sites across the globe in countries including China, India, the US, Germany, Brazil, and the UAE among various others.
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