Report Predicts Market for Industrial Liquid Coatings to Reach $70 Billion by 2025
SHELBYVILLE, DE — According to a report released by Global Market Insights Inc., the market for industrial liquid coatings will surpass $70 billion by 2025.
Demand for oil pipeline coatings will contribute to growth in the industrial liquid coatings market. The largest network of pipelines in the world is in North America, with the United States alone accounting for more than 115,000 kilometers of crude oil pipeline. It is expected that North America will witness the addition of approximately 60,000 kilometers of pipeline by 2021. This trend is expected to continue with the Trump administration’s vision of reducing energy dependence on other nations.
Growth in the global oil and gas sector and supportive government policies in emerging economies to boost manufacturing are the prime factors for growth in the industrial liquid coatings market in the future. Coatings are used to provide resistance to corrosion, UV rays, acids, oils and other types of contaminations that can deteriorate metal and hinder the performance of equipment. The product is applied to metal equipment, components and pipelines.
Stringent environmental regulations related to VOC emissions from liquid coatings will negatively impact the growth of the industrial liquid coatings market. Solvents used in coating formulations can be hazardous. Environmental concerns associated with conventional ingredients, coating application technologies, and coating waste are the driving forces for developing pollution-prevention alternatives.
The report segments the industrial liquid coatings market into resin, product, application and region. The resin segment includes epoxy, acrylic, polyester, polyurethane and others. In terms of volume, acrylic-based coatings will account for over 15% of the entire market share in 2025. Properties such as chemical resistance, color and gloss retention, outstanding early moisture resistance, and flash rust/early rust resistance make these coatings suitable for use on steel, aluminum, and zinc-rich primers. These coatings have wide end-use application on equipment, machinery, power plants, pipes and steel structures.
The market segments for industrial liquid coatings include liquid topcoats, liquid primers, metal conditioners and electrocoats (e-coats). In terms of revenue, the report predicts that e-coats will account for more than 10% of the overall segment share by 2025. E-coats are high-performance products that are formulated to provide reliable mechanical strength and superior corrosion protection. They are used on hot rolled steel, galvanized steel, aluminum, and magnesium in the agriculture, construction and earthmoving equipment, automotive, and appliance industries.
The report predicts that the general industrial segment is likely to have the highest share of over 60% by 2025. A wide range of industries are covered under this segment, including home appliance manufacturing, food and beverage, textiles, steel, pharmaceutical, and containers and packaging. Growing demand for various household products due to a rise in spending capacity in the global population will result in growth of the general industrial sector.
Based on volume, the market for industrial liquid coatings in the Asia-Pacific region will witness a growth rate of around 7%. A significant rise in manufacturing in Asian countries, such as China, South Korea and India, will increase industry demand in the future.
For additional information about the report, Industrial Liquid Coatings Market Size By Resin (Polyester, Epoxy, Polyurethane, Acrylic), By Product (Liquid Top Coats, Liquid Primers, Metal Conditioners, E-Coats), By Application (Agriculture & Heavy Equipment, Oil & Gas Pipelines, Metal Structures, Water & Waste Water Pipelines, General Industry) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018–2025, visit https://www.gminsights.com/industry-analysis/industrial-liquid-coatings-market.