According to a recently published report by Research Nester on “Industrial Coatings and Lining Service Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global industrial coatings and lining service market in terms of market segmentation by resin, by technology, by end use and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global industrial coatings and lining service market is segmented by resin, technology, end use and region. Based on resin, the market is segmented into polyurethane, acrylic, polyester and epoxy. On the basis of technology, the market is segmented into water based, solvent based, powder and pre- treatment. On the basis of end use, the market is segmented into general finishes, wood, heavy duty equipment, automotive parts, coil and extrusion, appliance, consumer electronics and transportation. The global industrial coatings and lining service market is anticipated to record a CAGR of around 4.5% over the forecast period i.e. 2019-2027. The market is segmented by resin, technology and end use. By resin, the epoxy resin segment is anticipated to have leading shares on account of its increasing uses such as inner and outer surface coatings in industrial concrete and water tanks, adhesives to substrate surfaces such as metal, fiber, glass, in manufacturing industries and others.
North America and Europe are expected to grow significantly on the back of growing automotive OEM, machinery and construction industries. Asia Pacific is expected to grow at a high pace attributing to the growing construction and oil & gas industry.
Increasing demand for corrosion protective coating systems
Corrosion protective coating systems bond by way of a chemical reaction with the substrate and slight surface oxidation assists the process. They help in increasing the usable lifespan of carbon steel tanks in the oil & gas industry. The most commonly used systems are fusion bonded epoxy, three component PP, polyurethane, and coal tar. The increasing demand for corrosion protective coatings systems is expected to boost the growth of the global industrial coatings and lining service market.
Ever rising oil & gas industry
High investments are being done in upstream and downstream sector. The oil and gas industry is in massive need for surface protection services such as rubber linings, acid proof lining and corrosion protective coatings for different equipment such as process vessels, pipelines, tanks, and rigs which is expected to boost the growth of the global industrial coatings and lining service market.
However, fluctuating costs of raw materials and implementation of stringent policies by governments on the use of solvent based coatings are expected to operate as key restraints towards the growth of global industrial coatings and lining service market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global industrial coatings and lining service market which includes company profiling of Akzo Nobel N.V., PPG Industries Inc., Axalta Coatings Systems, BASF Coatings GmbH, Sherwin- Williams Company, Kansai Paints Co. Ltd., Jotun A/s, RPM International, Hempel A/S and Nippon Paints Holdings Co. Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial coatings and lining service market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.