INDUSTRIAL COATINGS MARKET SIZE TO CROSS USD 110 BILLION IN 2026, GROWING AT A CAGR OF 4% DURING THE PERIOD 2021–2026

Industrial Coatings Market Size, Share, Trends Analysis Report by Resin Type (Epoxy, Polyurethane, Alkyd, Polyester, Acrylic, and Others); Technology (Water Borne, Solvent Borne, Powder Based, and Others); End-users (General Industry, Automotive, Construction, Electronics, Oil & Gas, Marine, Aerospace, and Others); and Geography (APAC, North America, Europe, Latin America, and Middle East & Africa); Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2026

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Most Exhaustive Report

337 Pages

191 Tables

131 Charts

5 Regions

17 Countries

40 Companies

4 Market Segment

GLOBAL INDUSTRIAL COATINGS MARKET REPORT SCOPE

Report Attribute Details
MARKET SIZE (REVENUE) USD 110 BILLION (2026)
MARKET SIZE (VOLUME) OVER 27 (billion liter)
CAGR 4% (2021–2026)
Base Year 2020
Forecast Year 2021–2026
Market Segments Resin Type (Epoxy, Polyurethane, Alkyd, Polyester, Acrylic, and Others); Technology (Water Borne, Solvent Borne, Powder Based, and Others); End-users (General Industry, Automotive, Construction, Electronics, Oil & Gas, Marine, Aerospace, and Others)
Geographic Analysis North America, Europe, APAC, Latin America, and Middle East & Africa
Countries Covered US, Canada, UK, Germany, France, Russia, Spain, China, India, Japan, South Korea, Indonesia, Brazil, Mexico, South Africa, UAE, and Saudi Arabia

INDUSTRY INSIGHTS

The global industrial coatings market size to be valued at USD 110 billion in 2026, growing at a CAGR of 4% during 2021–2026. The entrance of automobile production units and investments in developing economies is estimated to affect industrial coatings market growth positively. The increase in the number of construction projects worldwide can be ascribed to the fast pace of urbanization. In China, there is an increase in government spending on reasonable housing facilities, which leads to the demand for houses. Also, the growing public-private partnership projects in China lead to the growth in the construction sector, which, in turn, increases the demand for industrial coatings in the APAC region. In India, the growth in construction activities and supportive government measures for building infrastructure is expected to strengthen the demand for construction activities, which will likely boost the demand for architectural coatings. Furthermore, another key factor providing opportunities for industrial coatings is the growth of the automotive industry. Industrial coatings protect metals and plastics from external conditions. They also help to protect steel and concrete from fire hazards and other factors that can damage.

SNIPPETS

  • Acrylic is expected to grow at a CAGR of approx. 4% during the period 2020­–2026 due to weatherability, resistance to yellowing, fast-drying, gloss retention, and better resistance to these resins' alkaline conditions.
  • The consumption of water-borne coatings is likely to reach approx. 16 billion liters by 2026 because of the increased environmental awareness among manufacturers.
  • APAC is the fastest-growing industrial coatings market with a few fast-increasing economies such as China, India, and South Korea, which are witnessing increased construction activities.
  • The COVID-19 pandemic is projected to have a moderate effect on the market as industries using industrial coatings continue to be adversely affected.

GLOBAL INDUSTRIAL COATINGS MARKET SEGMENTATION

This research report includes a detailed segmentation by

  • Resin Type
  • Technology
  • End-user
  • Geography

INSIGHTS BY RESIN TYPE

One of the leading polymer technologies in industrial coatings, acrylics offer several advantages, including water-resistant, gloss retention, fast-drying, resistance to alkaline conditions, and high adhesion. Due to fast-drying, strong colors, and better coverage, the acrylic application continues to grow, especially in canvas and paper-based applications. In the Asia Pacific region, automotive OEMs are the major end-users of acrylic coatings.

Epoxy primers and finishes are applied in a wide range of industrial products. However, they observe high adoption in marine and immersion services, which require high-quality protection from corrosion and rusting. The protective coatings demand is increasing from the oil and gas industry. Epoxy coatings also have their applications in the automotive industry, and the demand is high in the APAC region, implying high growth potential. As epoxy resins provide a strong adhesive coating to the floor, ceiling, and wall surface, they experience high adoption in the furniture and architectural industry. The need to protect furniture from pests and humid conditions is also boosting the epoxy coatings demand.

INSIGHTS BY TECHNOLOGY

Water-borne industrial coatings provide high protection against corrosion, fire, and moisture, hence extensive applications in construction, automotive, marine, aerospace, oil and gas, and electronics end-users. They are environment-friendly and easily applicable. They offer outstanding surface properties, which increase their usage in a wide range of industries. Water-based solutions are brilliant primers because of their heat resistance and abrasion resistance.

The quick-drying nature of solvent-borne coatings is a major factor influencing the market growth. These coatings are particularly finding applications in humid environments. They help in color development, grinding efficiency, solvent resistance, hardness, transparency, and gloss. These substances are the best choice for wood, automotive, refinish, and industrial coatings. They help in UV curing formulations, ambient curing, and baking curing systems. Solvent-borne solutions are used by aerospace and automotive OEMs. They offer high corrosion resistance, conductive and tank coating, abrasion and weathering resistance, and excellent adhesion properties, along with high scratch and chemical resistance.

The consumption of powder coating is expected to reach over 3 billion liters by 2026. Powder-based solutions emit negligible volatile organic compounds (VOC) and less hazardous waste, making them a viable choice for vendors complying with environmental regulations. They provide several advantages such as excellent resistance to corrosion and chip, improve durability, emit low volatile organic compound, and offer cost-efficiency.

INSIGHTS BY END-USER TYPE

Industrial coatings are used in general industrial to protect from UV radiation, corrosion, wear, and tear and improve their efficiency. The application of general industrial coatings is increasingly demanding as they require higher durability, better adhesion, chemical resistance, and better appearance. The increasing demand for environment-friendly solutions is increasing the demand for industrial coatings. The increasing construction sector in the APAC region, especially in India, due to increased infrastructure projects, including buildings and metros, is offering new revenue opportunities for vendors. Hence, the growing demand from the construction industry is a key factor that leads to industrial coatings' growth. Increasing air traffic, majorly in the Middle East and APAC regions and ASEAN countries, and growing international trade are the key drivers for aerospace industries' growth. Therefore, the demand from aerospace leads to the growth of the industrial coatings market.

INSIGHTS BY GEOGRAPHY

The APAC industrial coatings market size is expected to reach over 14 billion liters by 2026. APAC is one of the most robust markets. China is the largest market, accounting for around 60% of the market by volume and revenue. The country is one of the significant coating producers and consumers. Due to environmental regulations, the demand for eco-friendly products is expected to grow in the APAC region. China, Japan, and South Korea lead the marine coatings market, constituting 80% of the share in volume and revenue. Water-borne solutions are rapidly growing in the market. They are environment-friendly due to their low volatile organic compounds (VOCs) and other features, such as durability, low odor, and block resistance, the increasing preference among consumers.  India and South Asia are the fastest growing coatings market in Asia. Japan and South Korea are substantial markets in the region with a large production base in automotive, appliance, chemicals, and electronic products. Anti-viral and anti-microbial coatings offer significant growth opportunities in the region. Antimicrobial solutions are widely used in domestic appliances, healthcare, food equipment, escalators, elevators, and commercial buildings. They are extensively used in food processing units, food packaging, dairy, utensils, and containers.

INSIGHTS BY VENDORS

The global market is highly fragmented, with no major vendor constituting a significant share in the market; Sherwin-Williams Company/Valspar, PPG, AkzoNobel, Nippon, Axalta, BASF, Kansai Paints, Masco (Behr), RPM, and Jotun holds are the leading ten vendors that account for around 50% of the industrial coating market share. The rest of the industrial coating market share is occupied by small- and medium-scale manufacturers. The competition is based on the product quality provided and the technology used by the manufacture. Major players are engaged in expanding their production facilities, mergers, and acquisitions, spending in research and development facilities, infrastructural development, increasing geographic presence, and looking for opportunities to integrate across the value chain.

Prominent Vendors:

  • AkzoNobel
  • Axalta Coating Systems
  • BASF
  • Nippon Paint Holdings
  • PPG Industries
  • Sherwin-Williams

The global market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:

Resin Type

  • Epoxy
  • Polyurethane
  • Alkyd
  • Polyester
  • Acrylic
  • Others

Technology

  • Water-Borne
  • Solvent Borne
  • Powder Based
  • Others

End-user

  • General Industry
  • Automotive
  • Construction
  • Electronics
  • Oil & Gas
  • Marine
  • Aerospace
  • Others

By Geography

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Spain
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Indonesia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE

Frequently Asked Questions

The global industrial coatings market size to be valued at USD 110 billion in 2026
The global industrial coating market is expected to grow at a CAGR of approx. 4% during the period 2021–2026.
By technology, the water-borne industrial segment is expected to generate a revenue share of over $63 billion by 2026.
The global market is likely to observe promising growth on account of digitalization and high demand for protective coatings.
The COVID-19 pandemic has moderately affected the market. While production activities have continued remarkably in numerous coatings production units, the spread of the infection has generated uncertainty among major industrial coatings producers.
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