Industrial Maintenance Coatings Market Development Strategies, Top Manufacturers Insights And Forecast to 2030
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Rise in adoption of sustainable coatings with efficient and better aesthetics is driving the market for industrial maintenance coatings
VANCOUVER, BC, CANADA, November 15, 2022 /EINPresswire.com/ -- The global Industrial maintenance coatings market is estimated to reach value of USD 5.23 Billion by 2027, according to a current analysis by Emergen Research. Increase in the demand for eco-friendly coatings is driving the market. Rising demand for durable and efficient coatings, with better mechanical properties, along with the need for reduction in regular maintenance, is projected to drive the market during the forecast period.
However, difficulty in achieving thin films of powder coatings is limiting the market for industrial maintenance coatings. Additionally, in water-based coatings, the need for more drying time of the coatings is expected to hamper the demand for the market during the forecast period. Changing environmental regulations for achieving longer sustainability and performance at a low cost are driving the market. The ease in application of the coatings, implementation of stringent environmental regulations, and increased durability of the coatings, is projected to drive the demand for the market during the forecast period. Enhanced efficiency results in cost savings.
Constant changes in VOC regulations are also propelling the demand for industrial maintenance coatings. Environment and health-related concerns of workers are also impacting the market for industrial maintenance coatings positively.
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Some Key Highlights from the Report
Solvent-based coatings are favored over water-based coatings in humid areas. Solvent-based coatings are used to achieve a higher level of gloss than water-based coatings. They are employed by various end-users such as marine, automotive, oil & gas, aerospace, metal processing, chemical & petrochemical, and power & steam generation industries.
Acrylic resin is available in aqueous and solvent-based systems. These resins are also known for their good oxidative property and UV stability. It offers ideal resistance to extreme environmental conditions and enables rapid setting.
The energy & power segment is likely to continue to expand rapidly during the forecast period, as there exists high demand for industrial maintenance coatings in applications such as flares, chimneys, and storage tanks
The Asia Pacific region held the largest market share in 2019, as it emerged as the largest consumer as well as producer of the industrial maintenance coatings. Presence of several large and small producers of industrial maintenance coatings in the region is contributing to the market in the region.
Top Companies Covered In This Report:
Jotun A/S, Akzo Nobel N.V., The Sherwin-Williams Company, PPG Industries Inc., Kansai Paint Co., Ltd., Nippon Paint Holdings Co., Ltd., Tikkurila OYJ, RPM International Inc., Hempel A/S, and Axalta Coating Systems, LLC
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For the purpose of this report, Emergen Research has segmented the global industrial maintenance coatings market based on technology, resin type, end-use industry, and region as follows:
Technology Outlook (Revenue, USD Billion; 2017–2027)
Water-based
Solvent-based
Powder
100% Solids
Others (UV- and EB-cured Technology)
Resin Type Outlook (Revenue, USD Billion; 2017–2027)
Polyurethane
Epoxy
Acrylic
Alkyd
Others
End-use Industry Outlook (Revenue, USD Billion; 2017–2027)
Energy & Power
Transportation
Metal Processing
Construction
Chemical
Others
Finally, the report majorly enlightens the key growth and limiting factors that majorly target the center of the market affecting the growth and its development to either positive or negative extent. The report also specifies the impact of regulations and policies implemented by the administration on the current growth and upcoming opportunities that may lead to market development escalation. The Battery Management System Market report offers a superior vision of the global market, which will help clients to manage the business precisely with better growth and expansion compared to its contenders in the market.
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