Market Size of Industrial Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial Coatings Market Analysis
During the time frame of the forecast, the industrial coatings market is expected to grow at a CAGR of more than 4%.
COVID-19 had a moderate impact on the global industrial coatings industry's growth by 2020. However, there is an upsurge in demand for industrial coatings in various industrial sectors, including oil and gas, chemical, and mining industries,
- The industrial coatings market is expected to grow in many ways, thanks to factors like the growing demand for products that last a long time and the increased use of powder coatings.
- The harmful environmental impact of solvent-borne coatings is likely to hinder the market's growth.
- In the future, the market is likely to have a chance to benefit from the rising demand for products that last a long time.
Asia-Pacific led the world market for industrial coatings because their use in developing countries like India and China is growing quickly.
