The global industrial coatings market to grow at a CAGR of 5.8% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global industrial coatings market for 2016-2020. To calculate the market size, the report considers the revenue generated through sales of industrial coatings for applications such as general finishes, automotive original equipment manufacturers (OEMs), automotive refinish, wood coatings, coil coatings, and others. The report also includes a discussion of the key vendors operating in this market.
One of latest trends in the market is increase in demand for premium paints among DIY consumers. An increase in consumer spending on home improvement and remodeling projects is the key factors providing growth impetus for the consumption of paints and coatings by the residential end-user segment. The demand from do-it-yourself (DIY) consumers is particularly high in western economies, with organized big box retailers catering to this demand. However, in a few non-western and developing economies, DIY projects are yet to gain prominence. Lack of consumer confidence in the fragmented retail industry in emerging economies is a major factor affecting the DIY industry in these economies.
According to the report, one of the primary drivers in the market is increase in demand for coatings with functional benefits. There is an increasing demand for coatings that can protect from the harshness of weather, dampness, corrosion, fungi, and other destructive or unhealthy influences on the building. Continuous exposure of buildings to heat and rain may substantially damage the buildings. Even though the build-quality of a structure is good, it needs a protective coating to prevent water seepage, the formation of fungi and algae, and other related problems.
Further, the report states that one major challenge in the market is fluctuations in raw material costs affecting product costs and operations. The fluctuating cost of raw materials used for the manufacture of paints and coatings is a major challenge for the global industrial coatings market. The price of raw materials such as polymers, cellulosics, adhesion promoters, titanium dioxide, epoxy resins, and related solvents has been fluctuating since 2005.
- Axalta Coating Systems
- PPG Industries
Other prominent vendors
- Kansai Paint
- Nippon Paint
- RPM International
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by technology
Part 07: Market segmentation by application
Part 08: Market segmentation by geography
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
Part 14: Vendor landscape
Part 15: Key vendor analysis
Part 16: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/5mm2wh/global_industrial
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SOURCE Research and Markets