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1. May 2020 | Raw materials

Industrial coatings market to reach about EUR 38,5 billion 2022

The market intelligence provider Transparency Market Research has published a new report on industrial coatings.

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The global industrial coatings market is projected to be worth about EUR 38,5 bn by the end of 2022 Image source: denphumi – stock.adobe.com (symbol image).

According to Transparency Market Research, the competitive landscape present in the global industrial coatings market is quite fragmented. Presence of large number of players operating in the overall market has intensified the competition in the past few years. Vendors are making continuous effort to expand their geographical reach of their businesses through investments and mergers and acquisitions.

Product innovation and research and development for incorporating better technology in production of industrial coatings are anticipated to be leading strategies of key companies in the market. The research report picks out PPG Industries, The Valspar Corporation, Nippon Paint Holdings Co., The Sherwin-Williams Company, AkzoNobel N.V., Jotun A/S, and BASF as the leading players in the global industrial coatings market.

Demand for epoxy resins is projected to dominate the global market

According to the research report, the global industrial coatings market is projected to be worth about EUR 38,5 bn by the end of 2022 from circa EUR 29 bn 2017. During the forecast years of 2017 and 2022, the market for industrial coatings is anticipated to register a CAGR of 5.8%. Out of the various types of resins, the demand for epoxy resins is projected to dominate the global market as it aims to reach a valuation of EUR 13.5 bn by the end of 2022. Geographically, the global industrial coatings market will be led by North America between 2017 and 2022.

More information can be found on the Transparancy Market Research website.

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