Industrial Coatings Market Size, Share & Trends Analysis Report By Technology (Water-borne, Solvent-borne), By Product (Acrylic, Polyurethane), By End-use (Marine, General Industrial), By Region, And Segment Forecasts, 2025 - 2030

Industrial Coatings Market Summary

Industrial coatings are widely used in various end use sectors such as automotive and vehicle refinishing, electronics, aerospace, oil & gas, mining, marine, and power generation. Automotive and refinish coatings are among the major industrial Coatings. The growing usage of refinish coatings for automotive maintenance, repair, and aftermarket painting, due to visual appearance, surface protection, and corrosion resistance, is expected to propel the demand for industrial coatings.

Industrial coatings are widely used in commercial and industrial applications such as warehouses, hospitals, manufacturing and industrial plants, showrooms, commercial and retail stores, garages, and airplane hangars. They protect floors from moisture, stains, and cracks and provide a high-performance, smooth, and durable surface that lasts several years and withstands heavy loads.

The growth in the construction industry globally has been a significant factor contributing to the demand for floor coatings. Countries such as the U.S., China, India, Indonesia, the UK, Saudi Arabia, and the UAE are majorly contributing to the growth of the global construction industry. The growing population and rising industrialization have encouraged governments to increase construction spending to expand infrastructural development.

Market Concentration & Characteristics

Some of the major companies actively operating in the market include Nippon Paint Holdings Co., Ltd., BASF SE, AKZO NOBEL N.V., and PPG Industries Inc.The market is highly competitive due to the presence of well-established global players and regional players. Some of the companies are integrated across the value chain and have multiple channels for manufacturing and distributing their finished products globally. For instance, in July 2023, AkzoNobel N.V. launched its new product for powder coating, an Interpon D Stone Effect. The product helps in transforming aluminum surfaces in order to offer texture like natural stone. It helps in achieving a stone look in a sustainable and more cost-effective way.

Manufacturers of industrial coatings distribute finished products through direct and indirect channels. Companies distribute their products through third-party vendors, distributors, and wholesalers. Product manufacturers form alliances and strategic business partnerships with distributors and suppliers to ensure the marketing and distribution of their products. Echmei, IndiaMart, PCE International, Industrial Coatings Ltd., and Syensgo are some of the distributors operating in the global market. The final product is used in the aerospace, oil & gas, marine, general industry, power generation, automotive & refinish, and mining end use sectors.

Product Insights

The acrylic segment led the market with the largest revenue share of 36.04% in 2024, due to its properties such as corrosion resistance, good adhesion, barrier and inhibiting ability, and fast drying. The acrylic segment was valued at USD 32,592.45 million in 2023 and is expected to reach USD 43,023.60 million by 2030, growing at a CAGR of 4.1% over the forecast period.

Polyurethane industrial coating is widely used in various end use industries, due to its excellent performance under extreme temperatures and varied environmental conditions. It is flexible and soft and exhibits low permeability, along with good impact and skid resistance. It coats structural steel, marine applications, truck bed liners, and automobiles.

Epoxy industrial coatings are widely used in construction, shipbuilding, and wastewater treatment plants due to their excellent properties, such as resistance to stains, cracking, extreme temperatures, and blistering. The product is also used in home appliances, such as refrigerators and washing machines, to protect them from food acids, corrosive gases, and humidity, as well as to extend the service life and improve the aesthetics of the appliances.

Technology Insights

Based on technology, the solvent borne segment led the market with the largest revenue share of 35.60% in 2024. Solvent-borne industrial coatings are widely used in the general industry, oil & gas, marine, automotive, and other sectors. Properties such as lower drying times and better functionality in open and humid conditions are expected to fuel the segment's growth over the forecast period.

The water-based industrial coatings dry more quickly than solvent-based coatings, as water evaporates rapidly from the coating layer. This results in faster drying without the formation of a surface skin. Water-based industrial coatings are mainly used in cases where solvent-based coatings might react with the substrate. They are excellent primers, as they offer great thermal and corrosion resistance. In addition, they are flame-resistant and have low toxicity, due to their low VOC content and low hazardous air pollutant emissions. Water-based coatings usage is expected to increase, due to strict regulations regarding solvents in coatings in the U.S. and other mature European countries.

End-use Insights

Based on end use, the general industrial segment led the market with the largest revenue share of 45.32% in 2024. General industry end use segment includes the consumption of industrial coatings in coil, packaging, construction, agriculture, and wood applications. Increasing demand for industrial coatings from metal roofing, wall panels, HVAC equipment, automotive, appliances, and other applications owing to excellent corrosion protection, long-lasting color, and scratch resistance is anticipated to positively influence the overall market growth over the forecast period.

Industrial coating is widely used in the automotive applications to protect and enhance various components such as body panels, wheels, chrome plating etc. They provide automotive parts (made of plastics and composites) with aesthetically pleasing visual color effects such as matte, high-gloss, pearl, and metallic. Automotive refinish Coatings are specifically designed for repairing and refurnishing vehicles. They are formulated to cure at ambient temperatures or low-temperature baking, allowing for quicker turnaround times in repair facilities.

Industrial coating is used in various electronic applications such as tablets, PCs, smartphones, touch displays, white goods, and wearable devices. It provides durability, design, color, and advanced functionality such as anti-fingerprint, anti-smudge, anti-glare, and low reflection for touch & display screens.

Regional Insights 

The North America industrial coatings market is expected to grow at a significant CAGR during the forecast period. Growing demand for the product from various end use industries, such as general, aerospace, marine, oil & gas, and automotive, is anticipated to create lucrative opportunities for the market growth of the North America in the forecast period.

U.S. Industrial Coatings Market Trends

The industrial coatings market in U.S. is estimated to grow at a significant CAGR from 2024 to 2030. The country is a leader in the manufacturing of aerospace and related components. The availability of well-trained machinists, aerospace engineers, and other skilled laborers and increasing air commutes are driving huge investments in the U.S. aerospace industry. In addition, the presence of prominent aircraft manufacturers such as Gulfstream Aerospace, the Boeing Company, and Textron Aviation, Inc. is expected to significantly drive the growth of the aerospace industry in the country. Thus, the growing aerospace industry in the U.S. is anticipated to create ample opportunities for the market growth over the forecast period.

Asia Pacific Industrial Coatings Market Trends

The Asia Pacific dominated the industrial coating market with the largest revenue share of 41.9% in 2024, due to rising construction activities and growing demand for industrial Coatings from the automotive sector in emerging countries, such as India, Japan, and South Korea. The segment was valued at USD 12,518.79 million in 2024 and is expected to reach USD 15,969.66 million by 2030, growing at a CAGR of 3.6% over the forecast period.

The industrial coatings market in China held the largest share in Asia Pacific in 2024.The relaxation of COVID-19 measures in December 2022 positively influenced investor confidence, accelerating ongoing projects in China. Presently, there are 20 active railway projects, with an additional 30 construction projects initiated since January 2023. These developments have led to a spurt in market growth in the country.

Europe Industrial Coatings Market Trends

The industrial coatings market in Europe is expected to grow at the fastest CAGR over the forecast period. This growth can be attributed to the increasing product demand from various end use industries such as the general industry, power generation, aerospace, and automotive and vehicle refinishing. The regional market is also expected to grow due to the increasing automobile production, construction activity, and the growing aerospace sector.

The Germany industrial coatings market is expected to grow at a significant CAGR over the forecast period. This growth can be attributed to favorable properties of industrial coatings such as corrosion resistance, long-lasting color, and scratch resistance, which have increased their end uses in a wide range of industries, including wood, packaging, construction, automotive & vehicle refinish, electronics, and others. The presence of numerous manufacturers and the availability of skilled labor have increased the consumption of industrial coatings in the country.

The industrial coatings market in UK is expected to grow at a significant CAGR from 2024 to 2030. The aerospace sector in the UK is also expected to grow over the forecast period. This growth can be attributed to rising government initiatives and investments from aerospace manufacturers, which, in turn, is expected to result in the rising demand for industrial coatings in the region.

Central & South America Industrial Coatings Market Trends

The industrial coatings market in Central & South America is expected to witness at a steady CAGR over the forecast period. The rising product demand from the general, automotive, aerospace, and marine industries is anticipated to positively influence market growth in the region. Furthermore, the presence of automotive production plants and oil & gas-producing countries in the region, including Brazil, Colombia, and Venezuela, is projected to fuel the demand for industrial coatings over the forecast period.

The Brazil industrial coatings market is expected to grow at the fastest CAGR over the forecast period. Brazil is one of the prominent countries, in terms of oil & gas and automobile production, in the CSA region. The country is characterized by several foreign manufacturers, such as BMW, Ford, General Motors, Honda, Hyundai, Mahindra, Mercedes-Benz, Mitsubishi, Nissan, Renault, Suzuki, Toyota, Volvo, and Volkswagen, as well as local manufacturers including Agrale, and Tecnologia Automotiva Catarinense (TAC).

Middle East & Africa Industrial Coatings Market Trends

The industrial coatings market in Middle East & Africa is anticipated to witness at a steady CAGR over the forecast period, due to increasing oil production in the region. The region is the global leader in terms of oil production. The presence of major oil-producing countries such as Saudi Arabia, Kuwait, Oman, Bahrain, Libya, Iraq, Angola, and Iran in the Middle East & Africa is expected to create high demand for industrial Coatings in the region.

The South Africa industrial coatings market is expected to grow at the fastest CAGR during the forecast period, due to a rise in automotive production in the country. In March 2023, Stellantis and the South African authorities signed a framework agreement to manufacture vehicles in the country. This collaboration aims to establish a new manufacturing facility in South Africa to support both, local job creation and economic growth.

Key Industrial Coatings Company Insights

The competitive landscape of the global market is characterized by intense competition among a few key players, technological advancements, and strategic initiatives aimed at maintaining industry leadership and driving innovation. Key companies have a strong presence in the overall global coatings industry, leveraging their brand reputation to maintain market share and drive growth.

Some of the key players operating in the market include

• BASF SE operates through six business segments, namely industrial solutions, materials, surface technologies, chemicals, nutrition & care, and agricultural solutions. Products offered by the company are used in agriculture, construction, pharmaceuticals, energy & power, home care & nutrition, automotive & transportation, rubber & plastics, leather & textiles, and personal care & hygiene industries

• Akzo Nobel N.V. is involved in manufacturing and marketing paints & performance Coatings. It operates through three business segments-specialty chemicals, performance Coatings, and decorative paints. Major products offered by the company are industrial chemicals, functional chemicals, pulp & performance chemicals, powder Coatings, and automotive & aerospace Coatings

Recent Developments

• In July 2022, IGL Coatings announced the launch of Eco Coat Armor, a tough and durable coating designed for maintenance and extending the life of various surfaces. This coating offers impact, high flexibility, chemical resistance & corrosion, and protection against chemicals and harsh environments

• In February 2022, PPG Industries, Inc. announced the acquisition of Arsonsisi, an industrial Coatings company in Italy, and its powder Coatings business. The acquisition aims to provide PPG Industries, Inc. with the opportunity to gain ownership of a modern, highly automated powder manufacturing plant in Italy capable of producing small and large batches

Industrial Coatings Market Report Scope

Global Industrial Coatings Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global industrial coatings market report based on product, technology, end-use, and region:

• Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Acrylic

  • Alkyd

  • Polyurethane

  • Epoxy

  • Polyesters

  • Others

• Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Solvent Borne

  • Water Borne

  • Powder Based

  • Others

• End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • General Industrial

  • Marine

  • Automotive & Vehicle Refinish

  •  Electronics

  • Aerospace

  • Oil & Gas

  • Mining

  • Power Generation

  • Others

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030) 

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East and Africa

    • Saudi Arabia

    • South Africa