The global industrialcoatings market size is set to impetus from the increasing focus of manufacturerstowards developing greener processes. These processes would help in creating
fewer emissions and wastes, as well as use lesser energy. This information is
given by Fortune Business Insights™in a new report, titled, “IndustrialCoatings Market Size, Share & Industry Analysis, By Resin (Acrylic, Alkyd,
Polyurethane, Epoxy, Polyester, and Others), By Technology (Solvent-borne,
Water-borne, Powder, and Others), By End-use (General Industrial, Powder,
Automotive OEM, Automotive Refinish, Protective, Wood, Marine, Coil, Packaging,
and Others), and Geography Forecast, 2020-2027.” The report further statesthat the industrial coatings market size was USD 86.81 billion in 2019 and is projected to reach USD 119.54 billion by 2027, exhibitinga CAGR of 4.4% during the forecast period.
Source:
COVID-19: Shortage of Workforce & Supply ChainDisruptions to Obstruct Growth
Theoutbreak of the COVID-19 pandemic has declined the demand for industrial
coatings worldwide. Also, disruptions of supply chains in this industry, as
well as the shortage of workforce have created immense financial losses for a
large number of manufacturers. We are therefore delivering highly authentic
research reports to help you generate more sales and regain business
confidence.
This Report Answers the Following Questions:
· How will the organizations surgesales of industrial coatings amid COVID-19?
· Which region and segment would leadthe market in the near future?
· What are the market drivers, hindrances,challenges, and opportunities?
· What are the historical, estimated,and current sizes of the global market?
Drivers & Restraints-
Rising Environmental Concerns to Bolster Growth
Themanufacturing process of industrial coatings releases volatile organic
compounds (VOCs) that must be eliminated effectively. These organic chemicals
turn to gases once they are kept at room temperature. VOC is the main cause of ground-level
air pollution. Hence, nowadays several manufacturers are rapidly inclining
towards powder-based or water-borne coatings to maintain sustainability. This
factor is set to propel the industrial coatings market growth in the coming
years. However, these coatings are prone to drying quickly, which, in turn, may
hamper growth.
