Global Industrial Coatings Market 2019-2023| Surging Demand for Water-borne Coatings to Boost Demand| Technavio
LONDON--(BUSINESS WIRE)--Nov 20, 2018--Technavio’s analysts forecast the global industrial coatings market to grow at a CAGR of nearly 6% during the forecast period, according to their latest market research report.
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Technavio has released a new market research report on the global industrial coatings market for the period 2019-2023 (Graphic: Business Wire)
The emergence of self-cleaning and self-healing coatings is one of the major trends being witnessed in the . Self-cleaning and self-healing coatings can have a significant impact on the producers of industrial coatings. These producers are heavily investing in R&D activities to develop paints and coatings that would restrict the need for multiple application of coatings on vehicles.
According to Technavio’s analysts, one of the key factors contributing to the growth of the global industrial coatings market is the surging demand for water-borne coatings:
Global industrial coatings market: Surging demand for water-borne coatings
Water-borne coatings provide several advantages and are widely used in automobiles, buildings and construction, marine, oil and gas, metallurgy and metal forming, aerospace, mining, and healthcare. The ability of these coatings to offer excellent resistance to heat and abrasion and provide superior adhesion allows them to be used as primers. Low VOC levels and hazardous air pollutants emissions make waterborne coatings less toxic and flammable.
According to a senior analyst at Technavio for research on paints, coatings, and pigments, “Water-borne coatings release fewer organic compounds as compared to solvent-borne coatings that have a severe environmental impact. In terms of cost-effectiveness, water-borne coatings are preferred as they do not require additives, thinners, or hardeners. When compared to other variants, low quantities of water-borne coatings are required to cover a surface area. This resulted in high demand for water-borne coatings, globally.”
Global industrial coatings market: Segmentation analysis
The global industrial coatings market research report provides market segmentation by technology (water-borne, solvent-borne, powdered coatings, and UV-cured), by application (general industries and automotive OEMs) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The water-borne segment held the largest market share in 2018, accounting for nearly 40% of the market. This technology segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of nearly 48%. This region is expected to dominate the market through 2023, with an increase in its market share by over 1%.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE: Technavio Research
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PUB: 11/20/2018 09:10 AM/DISC: 11/20/2018 09:10 AM