Global Industrial Coatings Market 2019-2023| Surging Demand for Water-Borne Coatings to Boost Demand| Technavio

Technavio
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 analysts forecast the global industrial coatings market to grow at a CAGR of nearly 6% by 2023. (Graphic: Business Wire)

The emergence of self-cleaning and self-healing coatings is one of the
major trends being witnessed in the global
industrial coatings market 2019-2023. 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.

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According to Technavio 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

The 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) 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%.

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Market Landscape

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• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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View source version on businesswire.com: https://www.businesswire.com/news/home/20190106005079/en/