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Advanced Coating Market Trends

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

Advanced Coating Market Trends

The advanced coating industry is experiencing a shift toward more customized and specialized coating solutions, driven by the growing demand for coatings tailored to specific applications. Industries like electronics, healthcare, and energy are seeking coatings with unique properties, such as anti-microbial, anti-corrosive, or conductive capabilities, to meet evolving market requirements. Additionally, innovations in coating application techniques, like the rise of digital coating and automation, are enhancing the precision, efficiency, and sustainability of coating processes. These technological advancements enable manufacturers to create high-quality coatings that meet both performance and environmental standards while also reducing production costs.
 

Another key trend in the market is the increasing emphasis on the lifecycle management of coatings. Companies are now focusing on coatings that not only perform well initially but also maintain their properties over extended periods, thereby reducing maintenance costs. The push toward more sustainable solutions have led to the development of coatings with longer-lasting protective properties, reducing the need for frequent re-coating. These trends align with growing consumer and regulatory demands for sustainability, driving the market toward solutions that offer superior durability and lower environmental impact.

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.

Advanced Coating Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 100
  • Countries covered: 19
  • Pages: 180
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