SAN FRANCISCO - Grand View Research Inc. has added a new report covering the industrial coatings market to its offering.
The global industrial coatings market is expected to witness growth owing to increased importance of corrosion resistance, high-temperature performance and enhanced service life in the automotive, marine, construction, and oil and gas industries. Technological development in solvent-borne and powder coatings is expected to play a crucial role in promoting industrial coatings market growth over the forecast period. Regulatory support aimed at reducing VOC emissions is likely to fuel eco-friendly coatings demand and is expected to have a positive impact on the industrial coatings market in the near future.
The governments of India, China and Middle Eastern countries have increased their expenditure on infrastructure, which is expected to augment the global industrial coatings market. A positive outlook for the oil and gas sector in BRICS is expected to have a positive impact on the market over the next six years as well. Development of unconventional resources such as shale gas and tight oil in the United States and Canada is expected to promote the use of industrial coatings as solutions for providing corrosion resistance and wear protection in drilling and exploration applications.
Major market participants in the industry include PPG Industries, AkzoNobel, Axalta, DuPont, Sherwin-Williams, BASF, Nippon Paints, Valspar and NOROO Paints & Coatings. Application growth of industrial coatings in the automotive and construction industries in Asia Pacific has forced market players to increase their production capacities in China and India.
For additional information about the report, titled Industrial Coatings Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2014 to 2020, visit http://www.grandviewresearch.com/industry-analysis/industrial-coatings-market.