News from Huicong Coating Network: According to the latest research report of Global Market Insights, the Global Market size of industrial liquid coatings exceeded us $45 billion in 2017, and the compound annual growth rate during 2017-2025 was more than 6%. By 2025, the market for industrial liquid coatings will grow from more than $45 billion today to more than $70 billion.
Growth in the global oil and gas sector, coupled with support from emerging economies for government policies to drive manufacturing growth, has been a major factor in the recent growth of the industrial liquid coatings market. The coating is used to resist corrosion from ultraviolet light, acids, oils and other types of contaminants that degrade metals and interfere with equipment performance. The products are mainly used in various industrial metal equipment, components and pipes.
The market for industrial liquid coatings will exceed $70 billion
Strict environmental regulations related to VOC emissions of liquid coatings will have a negative impact on the growth of the global industrial liquid coatings market. Solvents used in coating formulations are dangerous because many are carcinogenic, flammable or explosive. Environmental issues related to traditional ingredients, coating applications and paint wastes are driving the development of alternatives to pollution prevention.
The market for industrial liquid coatings is divided into resins, products, applications and regions. Resin section includes epoxy resin, acrylic resin, polyester, polyurethane, etc. In terms of volume, the acrylic based coatings segment will account for more than 15% of the overall market in 2025. Excellent chemical resistance, color and gloss retention, excellent early moisture resistance, flash/early rust resistance and other properties make it more likely to be suitable for steel, aluminum and zinc-rich primers.
The product segment is further subdivided into liquid topcoats, liquid primers, metal regulators, electronic coatings and others. In terms of revenue, electronic coatings will account for more than 10% of the overall market segment by 2025. Electronic or electrophoretic coatings are high performance products formulated to provide reliable mechanical strength and excellent corrosion protection. The products are mainly used in agriculture, construction and earthmoving equipment as well as hot rolled steel, galvanized steel, aluminum, magnesium, etc.
By 2025, the general industrial sector is likely to account for more than 60% of the top share, and it covers a wide range of industries. It includes home appliance manufacturing, food and beverage, textile, steel, pharmaceutical, container and packaging industries.
Based on sales volume, the growth rate of the Asia Pacific industrial liquid coatings market will reach around 7%. The surge in manufacturing in Asian countries such as China, South Korea and India will expand demand across the sector in the future.
The market for industrial liquid coatings is very fragmented because there are many types of companies in all walks of life. Some of the major industry giants are Nippon Coatings, Haihong old man, Astor, Kansai Coatings, Akzo Nobel, Baril Coatings and Lipamax.