Industrial Coatings Market Insights: Key Players And Competitive Landscape
The global industrial coatings market is a significant sector, valued at USD 90.79 billion in 2024. It is projected to experience steady growth, expanding at a CAGR of 3.7% from 2025 to 2030. A key driver of this growth is the increasing demand for refinish coatings in the automotive industry. These coatings are used for maintenance, repair, and aftermarket painting to enhance the vehicle's appearance, protect its surface, and prevent corrosion.
Industrial coatings find extensive application across various industries, including automotive and vehicle refinishing, electronics, aerospace, oil and gas, mining, marine, and power generation. Among these, automotive and refinish coatings constitute a major segment. The rising popularity of refinish coatings in automotive maintenance and repair, coupled with the desire for improved aesthetics and durability, is further fueling the demand for industrial coatings.
Beyond the automotive sector, industrial coatings are crucial in commercial and industrial settings. They are utilized in warehouses, hospitals, manufacturing plants, showrooms, retail stores, garages, and airplane hangars. These coatings serve multiple purposes, including protecting floors from moisture, stains, and cracks. They also provide a durable, high-performance surface that can withstand heavy loads and last for several years.
Gather more insights about the market drivers, restrains and growth of the Industrial Coatings Market
Technology Segmentation Insights
Solvent-Borne Coatings Dominate the Market
In 2024, solvent-borne industrial coatings held the largest market share of 35.60%. Their widespread use across various industries, including general industry, oil and gas, marine, automotive, and others, is primarily due to their superior properties. These coatings offer faster drying times and enhanced performance in open-air and humid conditions. These advantages are projected to drive significant growth in this segment over the forecast period.
Water-Based Coatings Gain Traction
Water-based industrial coatings are gaining popularity due to their rapid drying times. As water evaporates quickly, these coatings dry faster without forming a surface film. This makes them ideal for applications where solvent-based coatings might react with the substrate. Water-based coatings excel as primers, providing exceptional thermal and corrosion resistance. Additionally, their low VOC content and minimal hazardous air pollutant emissions make them environmentally friendly and flame-resistant.
Stricter regulations on solvent usage in coatings, particularly in the U.S. and mature European countries, are expected to further boost the adoption of water-based coatings. This shift towards eco-friendly solutions will contribute to the growth of this segment in the coming years.
Order a free sample PDF of the Industrial Coatings Market Intelligence Study, published by Grand View Research.