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Industrial Maintenance Coatings Market worth $4.9 billion by 2025

 



(EnergyIndustry.Net, February 09, 2021 ) The report "Industrial Maintenance Coatings Market by Technology (Solvent-based, Water-based, Powder & Others), Resin Type (Epoxy, PU, Acrylic, Alkyd & Others), End-use Industry And Region (North America, Europe, Asia Pacific, South America & Middle East & Africa) – Global Forecast to 2025", The industrial maintenance coatings market is expected to grow from USD 4.0 billion in 2020 to USD 4.9 billion by 2025, at a CAGR of 4.0% during the forecast period. The major factors driving the industrial maintenance coatings market include the increasing demand for environmentally-friendly coatings, the need for efficient process and durable coatings with better mechanical properties, and growing demand from the Asia Pacific region.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=157939360

By resin type, the acrylic segment is projected to register the highest CAGR in the industrial maintenance coatings market during the forecast period.

Acrylic resins are a group of thermoplastic or thermosetting plastic substances derived from acrylic acid, methacrylic acid, and other related compounds. These resins offer excellent resistance to extreme environmental conditions and enable fast-setting times in comparison to other resin systems. They find use in automotive, industrial assembly, construction, metal processing, and other end-use industries.

By technology, solvent-based industrial maintenance coatings are estimated to be the largest technology in 2020

Solvent-based industrial maintenance coatings are preferred over water-based coatings in humid environments. Solvent-based coatings cure due to a chemical reaction between oxygen in the atmosphere and their constituents, and not by the evaporation of water. Solvent-based industrial coatings achieve a higher gloss level than water-based coatings. It is applied to the surface of the material to prevent corrosion and is more flexible than water-based coatings during the curing of the coating. Solvent-based industrial maintenance coatings are used widely in numerous end-user industries such as automotive, marine, aerospace, oil & gas, chemical & petrochemical, power and steam generation, metal processing and among others.

By end-use industry, oil & gas sub-segment of the energy & power segment is projected to dominate the industrial maintenance coatings market during the forecast period

Power & chemical plants and oil & gas industry, and metal processing industries will continue to represent the bulk of the end-use demand for high-temperature coatings because of the relatively large replacement (repair and maintenance) market of high-temperature coatings attached with these applications. Wide application of high-temperature high pressure industrial maintenance coatings in applications such as corrosion under insulation, flare/smokestacks, chimneys, exhausts, piping, storage tanks, process boiler vessels, etc. in the oil & gas industry has led to the dominance of industrial maintenance coatings in oil & gas industry.


Don't miss out on business opportunities in Industrial Maintenance Coatings Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=157939360

Browse in-depth TOC on "Industrial Maintenance Coatings Market”
115 - Market Data Tables
48 - Figures
197 - Pages

Asia Pacific is expected to account for the largest share of the industrial maintenance coatings market during the forecast period.

Asia Pacific has emerged as the leading consumer and producer of industrial maintenance coatings. The easy availability of low-cost labor and raw materials are driving foreign investments, which is increasing the production of industrial maintenance coatings in the region. Asia Pacific is also the fastest-growing industrial maintenance coatings market.

Major players in the industrial maintenance coatings market include Akzo Nobel N.V. (the Netherlands), Jotun A/S (Norway), PPG Industries, Inc. (US), The Sherwin-Williams Company (US), Nippon Paint Holdings Co., Ltd (US), Kansai Paint Co., Ltd. (Japan), RPM International Inc. (US), Tikkurila OYJ (Finland), Hempel A/S (Denmark), Axalta Coating Systems, LLC (US), Aremco Products Inc. (US), Monarch Industrial Products (I) Pvt. Ltd.(India), Goa Paints (India), and Continental Coatings Inc. (US).

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

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