In this blog post, we will delve into the fascinating world of industrial coatings industry statistics. Industrial coatings play a crucial role in protecting and enhancing various surfaces, from machinery and equipment to buildings and infrastructure. By exploring the latest statistics and trends in this sector, we can gain valuable insights into the key drivers shaping the industry and its future outlook. Let’s uncover the numbers behind this dynamic and essential industry.
The Latest Industrial Coatings Industry Statistics Explained
The global industrial coatings market size was valued at USD 80.87 billion in 2019.
This statistic indicates that the total value of the global industrial coatings market reached USD 80.87 billion in the year 2019. Industrial coatings are specialized paints and surface finishes used to protect and enhance the durability of various products and surfaces in industries such as automotive, aerospace, marine, and construction. The market size reflects the total revenue generated from the sale of industrial coatings worldwide during that year. This figure provides valuable insights into the size and significance of the industrial coatings industry on a global scale, highlighting its economic impact and potential for growth and innovation within various sectors.
It is projected to expand at a CAGR of 3.2% from 2020 to 2027.
The statistic stating that it is projected to expand at a compound annual growth rate (CAGR) of 3.2% from 2020 to 2027 signifies the average annual growth rate over this specific time period. The CAGR is a useful measure for analyzing investment growth or economic indicators as it takes into account the compounding effect of growth year over year. In this context, it suggests that the subject being analyzed is expected to increase steadily by 3.2% each year from 2020 to 2027, providing insight into the potential growth trajectory over the specified timeframe.
In 2020, the industrial coatings market size in North America was around 27 billion USD.
The statistic stating that the industrial coatings market size in North America was around 27 billion USD in 2020 indicates the total value of sales within the industrial coatings sector in that region during the specified time period. This information is valuable for stakeholders in the industrial coatings industry, including manufacturers, suppliers, and investors, as it provides insight into the scale and economic significance of the market. The size of the market reflects the demand for industrial coatings used in applications such as manufacturing, automotive, aerospace, and construction, highlighting the importance of this sector within the broader economy of North America.
Waterborne industrial coatings held the largest share in the market accounting for 41.5% of the total revenue in 2019.
In 2019, waterborne industrial coatings dominated the market by accounting for 41.5% of the total revenue, indicating a substantial preference for this type of coating among consumers. This statistic suggests that customers in various industries such as manufacturing, automotive, and construction are increasingly opting for waterborne industrial coatings over other types due to factors such as environmental regulations, performance benefits, and cost-effectiveness. The significant market share held by waterborne coatings highlights their importance and popularity within the industry, emphasizing the strong position they occupy in meeting the needs and demands of customers seeking durable and sustainable coating solutions.
Powder-based industrial coatings are expected to witness the fastest CAGR of 3.7% from 2020 to 2027.
This statistic indicates that powder-based industrial coatings are projected to experience the fastest compound annual growth rate (CAGR) of 3.7% between the years 2020 and 2027. This suggests that the demand for powder-based industrial coatings is anticipated to rise steadily over the specified timeframe, outpacing other types of coatings in terms of growth rate. Factors such as increasing industrial activities, advancements in coating technologies, and environmental regulations promoting eco-friendly coatings may contribute to the strong growth forecast for powder-based industrial coatings. This statistic highlights a potentially lucrative market opportunity for companies operating in this sector and underscores the trend towards the adoption of powder-based coatings in various industrial applications.
Asia Pacific is predicted to be the fastest-growing regional market for industrial coatings with a CAGR of 4.6% from 2020 to 2027.
This statistic indicates that the Asia Pacific region is expected to experience significant growth in demand for industrial coatings, with a Compound Annual Growth Rate (CAGR) of 4.6% projected from 2020 to 2027. This means that the market for industrial coatings in the Asia Pacific region is forecasted to expand at an average annual rate of 4.6% during this period. The region is likely to witness increased industrial activities, infrastructure development, and growing investments in sectors such as manufacturing, automotive, and construction, driving the demand for industrial coatings. This growth rate suggests that Asia Pacific presents promising opportunities for companies operating in the industrial coatings sector to capitalize on the expanding market potential in the region.
The general industrial coatings segment accounted for 56.8% of the global industrial coatings market share in 2019.
The statistic indicates that the general industrial coatings segment held a dominant position in the global industrial coatings market in 2019, accounting for 56.8% of the total market share. This suggests that a significant majority of the industrial coatings used worldwide belonged to this particular segment. The high market share implies that general industrial coatings are widely utilized across various industries for applications such as corrosion protection, chemical resistance, and aesthetic enhancements. Companies operating in this segment may have a competitive advantage due to their strong market presence, potentially influencing pricing, innovation, and overall market dynamics within the industrial coatings industry.
In 2020, China was the largest market for industrial coatings in Asia-Pacific, with a value of around 18.73 billion USD.
The statistic indicates that in 2020, China held the largest market share for industrial coatings within the Asia-Pacific region, with a total market value of approximately 18.73 billion USD. This figure highlights the significant dominance of China in the industrial coatings sector, both in terms of production and consumption. The size of the market suggests a strong demand for industrial coatings products within China, driven by various industries such as manufacturing, construction, automotive, and others. Additionally, the statistic underscores China’s pivotal role in the regional industrial coatings market and its importance as a key player in the global coatings industry.
Industrial protective coatings made up about 14% of the global production volume of the surface coatings in 2015.
The statistic indicates that industrial protective coatings accounted for approximately 14% of the total global production volume of surface coatings in the year 2015. This suggests that a significant portion of the surface coatings produced worldwide in that year were designated for industrial purposes, such as protection against corrosion, wear and tear, and environmental factors in various industries. The high demand for industrial protective coatings reflects the importance of protecting infrastructure, equipment, and machinery to ensure longevity and efficiency, highlighting the essential role these coatings play in maintaining the integrity of industrial assets. This statistic provides insights into the market share and significance of industrial protective coatings within the broader surface coatings industry in 2015.
In Europe, Germany was the largest market for industrial coatings in 2020, with a value of around 2 billion USD.
The statistic “In Europe, Germany was the largest market for industrial coatings in 2020, with a value of around 2 billion USD” implies that Germany accounted for the highest amount of industrial coatings sales compared to other European countries during that year. This indicates that the industrial coatings industry in Germany was substantial and played a critical role in the European market. The value of around 2 billion USD underlines the significant economic importance of industrial coatings in Germany, reflecting high demand for protective and decorative coatings used in industrial applications such as automotive, aerospace, and machinery sectors. Germany’s position as the largest market suggests a strong manufacturing base and a key player in the industrial coatings market landscape within Europe.
In 2018, the global industrial coatings market was worth approximately 53.3 million metric tons.
The statistic ‘In 2018, the global industrial coatings market was worth approximately 53.3 million metric tons’ refers to the total volume of industrial coatings consumed worldwide in that year. Industrial coatings are specially formulated products used to protect surfaces from corrosion, chemicals, and wear and tear in various industries such as automotive, aerospace, construction, and marine. The metric tons represent the unit of measurement for the total volume of industrial coatings produced and used globally in 2018. This statistic indicates the significant demand for industrial coatings across different sectors and highlights the importance of these products in maintaining and preserving the lifespan of various materials and structures in industrial applications.
By 2027, the industrial coatings market is expected to reach 107 billion USD globally.
This statistic indicates that the industrial coatings market is projected to grow significantly by the year 2027, with an estimated global value of 107 billion USD. This growth suggests increased industrial activity and demand for coatings across various sectors such as automotive, aerospace, construction, and marine industries. Factors driving this growth may include advancements in technology, increasing infrastructure development projects globally, and a growing focus on sustainability and environmental regulations. Such a substantial market size by 2027 implies opportunities for manufacturers, suppliers, and other stakeholders in the industrial coatings industry to capitalize on this growth potential and expand their market share in the coming years.
In 2015, the United States accounted for 17.8% of the global industrial coatings market.
The statistic indicates that in 2015, the United States held a significant share of the global industrial coatings market, accounting for 17.8% of the total market size. Industrial coatings are used for the protection and decoration of various surfaces in industrial settings, such as manufacturing plants, warehouses, and equipment. The high percentage signifies the importance and influence of the United States in the global industrial coatings industry, suggesting a strong presence of domestic manufacturers, demand for industrial coatings products, and potentially innovative technologies being developed in the country. This statistic is valuable for understanding the competitive landscape of the industrial coatings market and the role of the United States within it.
Silicon-based industrial coatings are expected to grow at a CAGR of 4.81% during the forecast period 2020 – 2025.
This statistic indicates that the demand for silicon-based industrial coatings is projected to increase steadily at a Compound Annual Growth Rate (CAGR) of 4.81% over the forecast period from 2020 to 2025. This growth rate signifies a consistent annual expansion in the market for silicon-based industrial coatings, reflecting factors such as technological advancements, increasing industrial activities, and growing applications across various sectors. The CAGR provides a useful measure to understand the long-term growth trajectory of this market segment and can be valuable for businesses and investors seeking insights into future opportunities and trends in the industrial coatings industry.
The architectural coating segment held the second-largest share, which was nearly 31% in 2018, of the global industrial coatings market.
The statistic indicates that in 2018, the architectural coating segment accounted for the second-largest portion of the global industrial coatings market, making up almost 31% of the total market share. This suggests that architectural coatings, which are designed for use on buildings and structures, played a significant role in the overall industrial coatings industry. The high market share indicates that there is a strong demand for architectural coatings, potentially driven by factors such as construction activity, infrastructure development, and renovation projects globally. Additionally, the statistic highlights the importance of architectural coatings as a key product category within the industrial coatings market and underscores its significant contribution to the industry’s overall revenue and growth.
The oil & gas industry is likely to have a significant demand for industrial coatings during the forecast period due to increasing exploration activities.
This statistic suggests that there will be a notable need for industrial coatings in the oil and gas industry in the foreseeable future, primarily driven by the rising exploration activities within the sector. Industrial coatings play a critical role in protecting infrastructure and equipment in the oil and gas industry from corrosion, abrasion, and other forms of degradation. With the escalating exploration initiatives leading to an increase in the construction and maintenance of pipelines, storage tanks, drilling rigs, and other essential components, the demand for industrial coatings is expected to grow significantly to ensure the longevity and efficiency of these assets. Consequently, companies operating in the industrial coatings sector are poised to benefit from this anticipated surge in demand from the oil and gas industry.
The wood coatings segment in industrial coatings is projected to grow at the highest CAGR in both value and volume from 2015 to 2020.
The statistic stating that the wood coatings segment in industrial coatings is projected to grow at the highest compound annual growth rate (CAGR) in both value and volume from 2015 to 2020 indicates a significant upward trend in the demand for wood coatings within the industrial coatings market. This growth is likely driven by various factors such as increasing construction activities, rising disposable incomes leading to higher demand for premium wooden products, and overall growth in the furniture and woodworking industry. The projection suggests that wood coatings are likely to be a lucrative sector within the industrial coatings market, attracting both manufacturers and investors seeking opportunities for expansion and profitability in the coming years.
The US is the largest consumer of industrial coatings globally due to its well-established end-use industries.
This statistic highlights that the United States stands out as the primary consumer of industrial coatings on a global scale as a result of its robust end-use industries. The term “industrial coatings” refers to specialized paints and coatings used for protection and aesthetics in various industrial applications such as manufacturing, automotive, aerospace, and construction. The US’s leading position in industrial coatings consumption can be attributed to its diverse and well-established industrial sectors that necessitate the use of such coatings for protection against corrosion, wear, and other environmental factors. Additionally, the country’s high level of industrial production and innovation further drives the demand for industrial coatings. Overall, this statistic underscores the significant role the US plays in the global industrial coatings market due to its strong industrial base and extensive end-use applications.
In 2019, epoxy accounted for a considerable share in the global industrial coatings market.
The statistic ‘In 2019, epoxy accounted for a considerable share in the global industrial coatings market’ indicates that epoxy-based coatings were a significant component of the overall industrial coatings market worldwide during that year. This suggests that epoxy coatings were popular and widely used in various industrial applications such as manufacturing, automotive, construction, and aerospace industries. The dominance of epoxy in the market could be attributed to factors such as its durability, resistance to corrosion, and versatility in providing protective and decorative finishes. This statistic highlights the importance and popularity of epoxy coatings within the industrial coatings sector in 2019.
Conclusion
Based on the data and trends presented, it is evident that the industrial coatings industry is experiencing steady growth and evolving in response to technological advancements and environmental regulations. By closely monitoring key statistical indicators, stakeholders in this industry can make informed decisions to stay competitive and drive innovation.
References
0. – https://www.www.statista.com
1. – https://www.www.marketsandmarkets.com
2. – https://www.www.fortunebusinessinsights.com
3. – https://www.www.mordorintelligence.com
4. – https://www.www.grandviewresearch.com
5. – https://www.www.polarismarketresearch.com
