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Industrial Coatings Market Trends

Report ID: GMI6390
Published Date: Nov 2024
Report Format: PDF

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Industrial Coatings Market Trends

The industrial coatings industry is experiencing significant growth, driven by several key trends. According to the U.S. Environmental Protection Agency (EPA), volatile organic compound (VOC) emissions from industrial coating operations decreased by approximately 60% between 1990 and 2014, indicating a strong shift towards eco-friendly and low-VOC formulations. The U.S. Department of Energy reports that advanced coating technologies could potentially reduce energy consumption in industrial processes by up to 20%.

The U.S. Bureau of Labor Statistics projects a 5% growth in employment for coating, painting, and spraying machine setters, operators, and tenders from 2020 to 2030, reflecting the expanding market. Additionally, the U.S. Census Bureau's Annual Survey of Manufactures indicates that the value of shipments for paint, coating, and adhesive manufacturing reached USD 54.7 billion in 2021, demonstrating the sector's economic significance. These trends, coupled with technological advancements in application techniques and increasing demand for anti-corrosion coatings, are shaping the market amidst rapid global industrialization and infrastructure development.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The global market size for industrial coatings was valued at USD 215.5 billion in 2024 and is projected to reach USD 345.8 billion by 2034, driven by a CAGR of over 4.9% from 2025 to 2034.

The epoxy segment held a market value of over USD 80.4 billion in 2024 and is expected to grow at a CAGR of over 5.4% during the forecast period, driven by its superior adhesion, chemical resistance, and durability.

U.S. market was valued at USD 71 billion in 2024 and is expected to grow at a 5.4% CAGR from 2025 to 2034, driven by the significant demand from the automotive industry for coatings that enhance aesthetics and provide corrosion resistance.

Major players in the industry include AkzoNobel, Asian Paints Limited, Axalta Coating Systems, BASF SE, Beckers Group, Hempel A/S, Jotun, Kansai Paint Co., Ltd., MASCO Corporation, and Nippon Paint Holdings.