The global decorative coatings market was USD 65 billion in 2018 and is projected to reach USD 82 billion by 2023, at a CAGR of 5%, between 2018 and 2023.

The transportation industry is among the world’s most competitive industries. This is driven by ever evolving technologies, regulatory policies and consumer expectations.

The global coatings additives market is witnessing increasing demand from various industries. Coatings additives are a specialized group of chemically engineered materials that find application in a number of industries. They impart excellent chemical properties to the formulation, including improved wettability, dispersion, rheology, UV protection, chemical resistance and high-temperature stability.

Globally, most of the marine coating companies have witnessed tough market conditions in the marine industry, where the combination of decelerating demand and increasing competition contributed to negative organic growth in the last few years. Despite these challenges, marine coating manufacturers are optimistic about witnessing underlying organic growth across most segments of the market and geographies.

Anti-corrosion coatings have become a necessity for industries to safeguard the huge investments they make in terms of money, property and safety of workers. These coatings are used extensively in industries such as marine, oil and gas, petrochemical, infrastructure, and power generation, among others. The global high-performance anti-corrosion coating market size was estimated to be USD 10.5 billion in 2018.

Today, end users of smart coatings prefer those products that provide smart functionality, better weather resistance, high performance, improved productivity and increased service life of the component; reduce maintenance costs; along with ease of application and easy cleaning.