Industrial Coatings Market Segmentation:
Application Segment Analysis
The global industrial coatings market is segmented by application into general industrial, automotive & transportation, industrial wood, marine protective, packaging, and others. Out of these, the automotive & transportation segment is attributed to garner the highest market share by 2035, owing to the high demand for vehicles by the burgeoning population. The International Organization of Motor Vehicle Manufacturers (OICA), released global sales of vehicle statistics which revealed that it rose from 56,398,471 units in 2021 to 53,917,153 units in 2020. Whereas, the global production of vehicles was calculated to be 57,054,295 units in 2021, an increase from 55,908,989 units in 2020. The need for industrial coatings in the manufacturing processes of automotive owing to their high degrees of corrosion resistance, chemical resistance, and protection from UV and weather is an essential part of making the vehicles durable.
Technology Segment Analysis
The global industrial coatings market is also segmented and analyzed for demand and supply by technology into water-based, solvent-based, powder, and others. Out of these, the water-based segment is attributed to holding the most significant share of the market during the assessment period. The advantages of water-based industrial coatings such as low VOC emissions during the application, easy cleansing process, reduced risks of fire, and others are expected to increase its adoption rate for various kinds of applications in numerous industries. Furthermore, the cost-effective benefit of water-based industrial coatings is also anticipated to make it a preferable option for coating applications in the automotive and construction industry.
Our in-depth analysis of the industrial coatings market includes the following segments:
|
By Resin |
|
|
By Technology |
|
|
By Application |
|
