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Advanced Coating Market Share

Report ID: GMI12520
Published Date: Dec 2024
Report Format: PDF

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Advanced Coating Market Share

Global Advanced Coating Company Market Share Analysis, 2023

In 2023, key companies including AkzoNobel N.V., BASF SE, Hempel A/S, Sherwin-Williams Company, and Axalta Coating Systems, held a combined market share of 25-30%. These companies are actively pursuing growth strategies such as mergers, acquisitions, partnerships, and facility expansions to strengthen their market presence, diversify product offerings, and reach new customer segments. As the demand for high-performance, sustainable coatings grows, market leaders are investing in technological advancements and innovative coating solutions to meet evolving consumer and industry needs.

These companies are channeling substantial investments into research and development to create innovative coating technologies that address the growing emphasis on eco-friendly and efficient solutions. Competitive strategies in the market are heavily focused on product differentiation, with manufacturers enhancing their offerings with advanced features such as nano-coatings, smart coatings, and energy-efficient solutions. Additionally, key players are expanding their geographical presence, entering emerging markets where infrastructure development and industrial growth are fueling the demand for advanced coating products. In this dynamic market landscape, innovation and adaptability to changing trends and consumer preferences will be crucial for maintaining a competitive advantage.

Advanced Coating Market Companies

Major players operating in the advanced coating industry are:

AkzoNobel N.V.
Asian Paints
Axalta Coating Systems
BASF SE
Beckers Group
Dulux Powder & Industrial Coating
Evonik Industries
Hempel A/S
Jotun Powder Coatings
Kansai Paint Co., Ltd.
Nippon Paint Holdings Co., Ltd.
PPG Industries
RPM International Inc.
Sherwin-Williams Company
The Valspar Corporation

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for advanced coating was reached USD 79.7 billion in 2023 and is estimated to grow at a 6.1% CAGR from 2024 to 2032, driven by increasing demand for durable, high-performance coatings.

The metal coatings segment accounted for revenue of around USD 24.5 billion in 2023 and is set to grow at a CAGR of around 6.6% from 2024 to 2032, led by the increasing demand for corrosion-resistant coatings in various industries.

The industrial & construction segment held around 31% of the market share in 2023 and is anticipated to grow at a CAGR of 6.8% from 2024 to 2032, propelled by the need for coatings that enhance the durability and longevity of infrastructure and industrial equipment.

The U.S. advanced coating market was valued at USD 18.5 billion in 2023 and is estimated to grow at a CAGR of over 6.6% from 2024 to 2032, owing to rapid technological advancements in coating technologies.

Major players in the advanced coating industry include AkzoNobel N.V., Asian Paints, Axalta Coating Systems, BASF SE, Beckers Group, Dulux Powder & Industrial Coating, Evonik Industries, Hempel A/S, Jotun Powder Coatings, Kansai Paint Co., Ltd., Nippon Paint Holdings Co., Ltd., PPG Industries, RPM International Inc., Sherwin-Williams Company, and The Valspar Corporation.