The Industrial Coatings Market is estimated to be valued at US$ 38.42 Bn in 2022 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends in the industrial coatings market is the growing adoption of water-based coatings. Water-based coatings offer various advantages over solvent-based coatings such as lower volatile organic compound (VOC) emissions, faster drying times, and compatibility with automated equipment. They are increasingly being used in applications such as general industrial, wood, automotive refinish, coil, packaging, and protective coatings. The growing environmental regulations regarding VOC emissions are a major factor driving the demand for water-based coatings. Their increasing demand is expected to positively impact the growth of the industrial coatings market during the forecast period.

Segment Analysis

The Industrial Coatings Market Size is segmented into resins, technology, end-use industry, and region. Based on resins, the epoxy resins segment accounted for the largest market share in 2022 and is expected to remain dominant over the forecast period. Epoxy resins offer superior corrosion protection, adhesion to substrates, and chemical and heat resistance. These properties make epoxy resins ideal for usage in machinery, infrastructure, and other applications where longevity and durability are critical.

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