Technavio
Announces the Publication of its Research Report Global Industrial Coatings
Market 2016-2020
Technavio recognizes the following companies as the key players in the global industrial coatings market: kzoNobel, Axalta Coating Systems, BASF, PPG Industries, and Sherwin-Williams.
Other prominent vendors in the market are: Jotun, Kansai Paint, Nippon Paint, RPM International, and Sika.
Commenting on the report, an analyst from Technavios team said: “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.
Technavio recognizes the following companies as the key players in the global industrial coatings market: kzoNobel, Axalta Coating Systems, BASF, PPG Industries, and Sherwin-Williams.
Other prominent vendors in the market are: Jotun, Kansai Paint, Nippon Paint, RPM International, and Sika.
Commenting on the report, an analyst from Technavios team said: “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.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Get discount: https://marketreportscenter.com/request-discount/456018
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Get discount: https://marketreportscenter.com/request-discount/456018
About Industrial Coatings
Industrial coatings are used on the surfaces of steel, aluminum, wood, and plastic for protection from external factors such as fire, moisture, and corrosion. They are also used for aesthetic purposes. These coatings are used in a wide range of industries, including automotive, construction, and electronics, and are available in four different forms: liquid, powder, pretreatment, and electrocoating.
Technavio’s analysts forecast the global industrial coatings market to grow at a CAGR of 5.8% during the period 2016-2020.
Covered in this report
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 market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Technavio's report, Global Industrial Coatings Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• AkzoNobel
• Axalta Coating Systems
• BASF
• PPG Industries
• Sherwin-Williams
Other prominent vendors
• Jotun
• Kansai Paint
• Nippon Paint
• RPM International
• Sika
Market driver
• Increase in urbanization and infrastructure investment.
• For a full, detailed list, view our report
Market challenge
• Fluctuations in raw material costs affecting product costs and operations.
• For a full, detailed list, view our report
Market trend
• Introduction of fluoropolymer topcoats.
• For a full, detailed list, view our report
Key questions answered in this report
• What will the market size be in 2020 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?
Table
of content: https://marketreportscenter.com/reports/456018/global-industrial-coatings-market-2016-2020#toc
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