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    Home > Coatings News > Paints and Coatings Market > In 2021, the market share of industrial coatings in Asia Pacific will be about 45%

    In 2021, the market share of industrial coatings in Asia Pacific will be about 45%

    • Last Update: 2022-05-10
    • Source: Internet
    • Author: User
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    Recently, PrecedenceResearch, a global market research and consulting agency, released a forecast report on the global industrial coatings market size
    .
    According to the report, the global industrial coatings market size will be approximately $85.
    6 billion in 2021, approximately $88.
    1 billion in 2022, and approximately $112 billion by 2030, with a compound annual growth rate of approximately 3 %

    .

    Recently, PrecedenceResearch, a global market research and consulting agency, released a forecast report on the global industrial coatings market size
    .
    According to the report, the global industrial coatings market size will be approximately $85.
    6 billion in 2021, approximately $88.
    1 billion in 2022, and approximately $112 billion by 2030, with a compound annual growth rate of approximately 3 %

    .
    The report states that the expansion of the industrial coatings market is driven by increasing demand for protective coatings and increasing use of corrosion-resistant coatings .
    On the other hand, the negative impact of liquid coatings on the environment is expected to influence the expansion of the industrial coatings market .
    In the future, the growing demand for long-lasting products is expected to provide opportunities for the industrial coatings market .
    In terms of region, North America is the largest segment of the industrial coatings market .
    The use of industrial coatings in North America is expected to grow significantly in several end-use industries such as automotive and general industries, as well as mining .
    Asia Pacific is the fastest growing region for the industrial coatings market .
    The low labor costs of developing economies in the Asia-Pacific region have attracted many foreign investors to carry out industrial activities in the Asia-Pacific region .
    Hence, increasing number of manufacturing facilities in the region is driving construction activities, which is expected to drive the demand for industrial coatings over the forecast period .
    It is reported that in 2021, the market share of industrial coatings in the Asia-Pacific region will be about 45.
    5%
    .



















    The report states that the expansion of the industrial coatings market is driven by increasing demand for protective coatings and increasing use of corrosion-resistant coatings
    .
    On the other hand, the negative impact of liquid coatings on the environment is expected to influence the expansion of the industrial coatings market

    .
    In the future, the growing demand for long-lasting products is expected to provide opportunities for the industrial coatings market

    .


    In terms of region, North America is the largest segment of the industrial coatings market
    .
    The use of industrial coatings in North America is expected to grow significantly in several end-use industries such as automotive and general industries, as well as mining

    .


    Asia Pacific is the fastest growing region for the industrial coatings market
    .
    The low labor costs of developing economies in the Asia-Pacific region have attracted many foreign investors to carry out industrial activities in the Asia-Pacific region

    .
    Hence, increasing number of manufacturing facilities in the region is driving construction activities, which is expected to drive the demand for industrial coatings over the forecast period

    .
    It is reported that in 2021, the market share of industrial coatings in the Asia-Pacific region will be about 45.
    5%

    .

    Based on this product, the acrylic segment dominated the global industrial coatings market with the highest market share in 2020
    .
    Acrylic industrial coatings are widely used in the automotive, aerospace and automotive industries for their properties such as corrosion resistance, inhibiting ability, better adhesion, quick drying and corrosion resistance

    .


    Based on this technology, solvent-based coatings dominated the global industrial coatings market with the highest market share in 2020
    .
    Solvent-based industrial coatings are used in a wide variety of industries such as marine, oil, gas, and automotive

    .
    Shorter drying times and enhanced performance in open and humid environments are expected to drive the growth of this segment

    .


    In terms of end use, the general industrial segment dominated the global industrial coatings market with the highest market share in 2020
    .
    Applications of industrial coatings in construction, packaging and agriculture are included in the general industrial sector

    .


    Drive: Surging demand

    for durable goods The growth of the industrial coatings market is increasing owing to various factors such as a significant increase in demand for high-durability products and increasing powder coating applications, which is expected to drive the expansion of the industrial coatings market over the forecast period
    .
    In addition, the demand for the growing trend in the production of durable products is also growing, which is expected to be a significant market potential prospect throughout the forecast period

    .


    Limitations: Detrimental effect of humidity on drying time

    In humid climates, the drying time of acrylic paints, as well as oil-based paints, is greatly delayed
    .
    Oxidation technology is used to treat oil-based paints to solve this problem

    .
    Water-based paints require less drying time than solvent-based paints because they dry through a natural drying process

    .
    Using the process on wooden surfaces is made more complicated by the fact that wood appears to absorb moisture from the air

    .
    This also affects the bonding quality of the substrates

    .
    Many market players spend a lot of money on humidity testing chambers

    .
    Thus, the adverse effect of humidity on drying time restrains the growth of the industrial coatings market

    .


    Opportunity: Rising usage of eco-friendly coatings The

    growing adoption of eco-friendly coatings in the market is due to the growing preference for water-based coatings
    .
    Powder coatings are becoming more popular when waterborne coatings are unacceptable because they do not emit volatile organic compounds while also optimizing quality for demanding end users

    .
    The industrial coatings market is expected to be driven by growing demand for low volatile organic compounds and stringent environmental regulations, especially due to rising environmental awareness

    .
    Hence, the increasing popularity of eco-friendly coatings is creating growth opportunities for the market

    .


    Challenge: Climate Change and Harmful Effects of Industrial Coatings

    Climate change is forcing coatings companies and major global market players to differentiate market products and change their production methods to accommodate the growing demands of target audiences over the projected period
    .
    As a segment, the negative environmental impact of solvent-based coatings is expected to hinder the estimated and forecast growth of the industrial coatings market over the forecast period

    .
    Therefore, climate and weather changes and the detrimental impact of industrial coatings on the environment are the major challenges for the growth of the industrial coatings market over the forecast period

    .

    Based on this product, the acrylic segment dominated the global industrial coatings market with the highest market share in 2020
    .
    Acrylic industrial coatings are widely used in the automotive, aerospace and automotive industries for their properties such as corrosion resistance, inhibiting ability, better adhesion, quick drying and corrosion resistance

    .


    Based on this technology, solvent-based coatings dominated the global industrial coatings market with the highest market share in 2020
    .
    Solvent-based industrial coatings are used in a wide variety of industries such as marine, oil, gas, and automotive

    .
    Shorter drying times and enhanced performance in open and humid environments are expected to drive the growth of this segment

    .


    In terms of end use, the general industrial segment dominated the global industrial coatings market with the highest market share in 2020
    .
    Applications of industrial coatings in construction, packaging and agriculture are included in the general industrial sector

    .


    Drive: Surging demand

    for durable goods The growth of the industrial coatings market is increasing owing to various factors such as a significant increase in demand for high-durability products and increasing powder coating applications, which is expected to drive the expansion of the industrial coatings market over the forecast period
    .
    In addition, the demand for the growing trend in the production of durable products is also growing, which is expected to be a significant market potential prospect throughout the forecast period

    .


    Limitations: Detrimental effect of humidity on drying time

    In humid climates, the drying time of acrylic paints, as well as oil-based paints, is greatly delayed
    .
    Oxidation technology is used to treat oil-based paints to solve this problem

    .
    Water-based paints require less drying time than solvent-based paints because they dry through a natural drying process

    .
    Using the process on wooden surfaces is made more complicated by the fact that wood appears to absorb moisture from the air

    .
    This also affects the bonding quality of the substrates

    .
    Many market players spend a lot of money on humidity testing chambers

    .
    Thus, the adverse effect of humidity on drying time restrains the growth of the industrial coatings market

    .


    Opportunity: Rising usage of eco-friendly coatings The

    growing adoption of eco-friendly coatings in the market is due to the growing preference for water-based coatings
    .
    Powder coatings are becoming more popular when waterborne coatings are unacceptable because they do not emit volatile organic compounds while also optimizing quality for demanding end users

    .
    The industrial coatings market is expected to be driven by growing demand for low volatile organic compounds and stringent environmental regulations, especially due to rising environmental awareness

    .
    Hence, the increasing popularity of eco-friendly coatings is creating growth opportunities for the market

    .


    Challenges: Climate Change and Harmful Effects of Industrial Coatings

    Climate change is forcing coatings companies and major global market players to differentiate market products and change their production methods to accommodate the growing demands of target audiences over the projected period
    .
    As a segment, the negative environmental impact of solvent-based coatings is expected to hinder the estimated and forecast growth of the industrial coatings market over the forecast period

    .
    Therefore, climate and weather changes and the detrimental impact of industrial coatings on the environment are the major challenges for the growth of the industrial coatings market over the forecast period

    .
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