Industrial Coatings Market Size and Share Outlook - Forecast Trends and Growth Analysis Report 2025-2034

The global industrial coatings market was valued at USD 101.50 Billion in 2024. The industry is expected to grow at a CAGR of 3.00% during the forecast period of 2025-2034 to attain a valuation of USD 136.41 Billion by 2034.

Key Trends in the Market

An industrial coating refers to the layer of substance applied on a surface to provide it with prevention against corrosion, protection from chemicals, resistance from abrasion, and non-stickiness, in industrial applications. Industrial coatings are applied on the equipment either with the help of a brush and spray or by dipping the components directly into the coating.

• The automotive industry has a high demand for industrial coatings which is anticipated to contribute towards the growth of the industrial coatings market. Repair and maintenance of vehicles as well as provision of protection against future damages can be done with the aid of industrial coatings, thus increasing their utilisation.
• Another crucial trend propelling the growth of the market for industrial coatings includes their ability to provide protection and resilient barriers in marine applications. Use of industrial coatings application helps in maintaining the condition of marine vessels, increasing their safety and reliability, thus boosting the industrial coatings market growth.
• The growing oil and gas sector is surging the demand for industrial coatings that offer heat-resistance as well as robust abrasion resistance. These features aid in extending the life of various oil and gas components, particularly those used in offshore oil and gas operations, further bolstering the demand for industrial coatings.

Global Industrial Coatings Industry Segmentation

The report titled “Global Industrial Coatings Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Breakup by Resin

• Polyurethane
• Epoxy
• Acrylic
• Polyester
• Others

Breakup by Technology

• Water-Borne Coatings
• Solvent-Borne Coatings
• Powder Based
• Others

Breakup by End Use

• Oil and Gas
• Mining
• Power
• Infrastructure
• Marine
• Automotive
• Others

Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

The comprehensive report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global industrial coatings market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Akzo Nobel NV
• Jotun A/S
• PPG Industries, Inc.
• he Sherwin-Williams Company
• Axalta Coating Systems
• Others

Industrial Coatings Market Share by Technology

Solvent-borne coatings account for a significant share of the industrial coatings market owing to their better functionality in humid and open conditions and are expected to generate similar results over the forecast period. Moreover, solvent-borne coatings are premium quality paints providing strength and durability that aid in protecting machines from oil, moisture, salt, and abrasion. They are widely employed in industrial applications and in domains such as marine, oil and gas, and automotive. Advantages such as enhanced functionality and lowered drying time in open and humid conditions are further expected to fuel the popularity of solvent-based coatings in the upcoming years.

Industrial Coatings Market Share by Region

Asia Pacific holds a sizable share of the industrial coatings market due to rapid increase in industrialisation which has led to great opportunities for the key players to develop more products for various sectors. With increase in industrialisation, the demand for the industrial coatings has increased, especially from the automotive industry. In the automotive industry, industrial coatings are used as they provide ecological and economic benefits, furthermore, they provide reduced friction and high-quality hardening to automotive components.

Competitive Landscape

Akzo Nobel NV

Akzo Nobel NV is a Dutch chemical manufacturing company that was established in 1994 and is headquartered in Amsterdam in the Netherlands. The company manufactures specialty chemicals along with paints, performance coatings, and polymers, among other chemical products, both for individual customers and industries.

Jotun A/S

Jotun A/S, founded in 1926 and headquartered in Sandefjord, Norway, is a chemical manufacturing company which manufactures paint and coating products including coatings for protection and marine. The company is involved in the marketing of performance coatings and decorative paints, working to create the best quality with constant creativity and innovation.

PPG Industries, Inc.

PPG Industries, Inc. was established in 1883 and has its headquarters in Pennsylvania in the United States. A chemical manufacturing company, PPG manufactures and supplies paints, specialty materials, and coatings across the globe. Other products manufactured and supplied by them include protective and marine coatings, industrial coatings, automotive OEM coatings, and packaging coatings.

Other market players include The Sherwin-Williams Company, and Axalta Coating Systems, among others.