Industrial Coatings Market Size, Share, Growth Analysis, By Technology(Waterborne Coatings, Solventborne Coatings, Powder Coatings, and Others), By Resin Type(Acrylic Resin, Alkyd Resin, Epoxy Resin, Polyester Resin), By End-use Industry(General Industrial, Protective, Industrial Wood, Automotive Refinish), By Region - Industry Forecast 2024-2031

Global Industrial Coatings Market size was valued at USD 95.50 billion in 2022 and is poised to grow from USD 99.13 billion in 2023 to USD 133.59 billion by 2031, growing at a CAGR of 3.8% during the forecast period (2024-2031). 

The rising adoption of industrial coatings in several industries which include automotive, aerospace, construction, marine and others is driving the market growth. These coatings are used in different forms like liquid, powder, and pretreatment coatings. There are different methods for the applications of the industrial coatings which include spray, dip, and roll coating. Furthermore, there is a rising demand for customized paints in the vehicles which contributes to the market growth. The US holds a significant position in the manufacturing space and its parts and one of the major aerospace markets around the globe. The rising investment in the aerospace industry due to the availability of skilled labours, well trained engineers and others is driving the market in this region. Additionally, the presence of major players in the region is also driving the market. The rising awareness about the protection of the vehicle by applying paint or by healing damages or scratches on the surfaces further propels the growth. The rising disposable income particularly in the Asia-Pacific region contributes to the expansion of the market. The rising demand from the packaging industry like caps and closures, cans, and others are also propelling the market growth. The advancements in the technology are also contributing to the market growth what walloping ecofriendly and sustainable coating solutions. There is a rising demand for high performance coatings which include durability, weather resistant, UV protection and others which is contributing towards the expansion and therefore, driving the growth of the global industrial coatings market.

US Industrial Coatings Market is poised to grow at a sustainable CAGR for the next forecast year.