Industrial Liquid Coatings Market

A succinct insight into industrial liquid coatings market with respect to the resin landscape: epoxy coatings to gain momentum over 2018-2025

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The robust growth of the global automotive sector is certain to emerge as one of the driving forces of industrial liquid coatings market in the years to come. Industrial liquid coatings, equipped with resistance to corrosion, acids, UV rays, oils and other type of impurities that can deteriorate metals and hinder the performance of equipment, are deployed in automobiles, transportation equipment, electronics appliances, wood and non-wood furniture, metal building products, and metal containers. Indeed, OEMs have emerged one of the most remunerative application arenas for these coatings.

China Industrial Liquid Coatings Market Size, By Application, 2014 – 2025 (USD Billion)
China Industrial Liquid Coatings Market Size, By Application, 2014 – 2025 (USD Billion)

An insight into the two basic types of resins used in the manufacturing of coatings:

Polyester

Polyester is one of the most widely used resins for industrial coatings. Polyester encompasses a superior chemical bond and is ideally temperature resistance to most materials. That said, the resin is also endowed with some other properties – polyester is known to abrasion resistant and provides prolonged corrosion protection. Both the aforementioned characteristics make polyester-based coatings ideal to be used in the marine sector and various other industrial applications, thereby augmenting the commercial landscape of polyester-based industrial liquid coatings market.

Polyester-based industrial liquid coatings industry size was valued at $8 billion in 2017 and is projected to grow at an appreciable pace over 2018-2025. Apart from its excellent properties, a pivotal reason for this industry to depict growth is that polyester coatings have the benefit of being cost efficient compared to other available coatings.

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Epoxy

Epoxy is another type of resin that is very widely used in coating production. The principal factors responsible for the deployment of epoxy are its excellent properties – the material is tough, enables quick drying, has a protective nature, and is endowed with other mechanical properties as well. Driven by its highly favorable characteristics and its subsequent benefits in coatings, epoxy manufacturing is generally undertaken on a large scale. As per the AMEC Environment and Infrastructure UK (AMEC) reports, a total of 259,000 tons of epoxy resin was manufactured in 2013, in plants located in Germany, Spain, Netherlands, Poland, and Switzerland.

In 2017, epoxy resin accounted for a commendable 30% of the industrial liquid coatings market share and is anticipated to depict a positive growth graph in the ensuing years. Reportedly, epoxy-based industrial liquid coatings are applied on the inside of cans as a protective coating that prevents corrosion and prolongs the shelf-life of the can and stored food. Additionally, it also serves well in terms of lending an aesthetic look to the can. Similar coatings are also used in the construction of wind turbine blades and metal structures. Owing to the fact that epoxy based coatings are relatively easier to apply as opposed to conventional heat cured powder coatings, they are used across a plethora of applications, thereby impelling epoxy-based industrial liquid coatings market share.

Speaking of epoxy, it is prudent to mention that the resin is widely popular in Europe. According to the AMEC Environment and Infrastructure UK (AMEC), Germany is one of the largest markets for epoxy resins in Europe, and had accounted for sales of sold approximately 88,000 tons of epoxy resin in 2013. This represents an appreciable 35% of all European sales. The UK accounted for the second largest volume of some 11% the same year, while Italy and France both witnessed for around 10% of total epoxy sales. It is thus rather overt that Europe industrial liquid coatings market, that held around $10 billion in 2017, will register a commendable growth rate owing to the surging epoxy production in the region.

One of the vital factors that may possibly restrain the growth of industrial liquid coatings market is the  adverse impact on human health caused due to the release of fumes from volatile organic compounds (VOC). As per the United States Environmental Protection Agency’s Total Exposure Assessment Methodology (TEAM) study, people exposed to VOCs experience conjunctival irritation, throat and nose discomfort, allergic skin reaction, headache, nausea, fatigue and dizziness. However, regulatory bodies, in this regard, have enforced certain norms that mandate companies to use less VOC-emitting products. In accordance, bio-based industrial coatings have emerged as the latest trends, adding a new growth dimension to the overall industrial liquid coatings market.

Author NameMateen Dalal

APAC Industrial floor coatings market to witness promising growth prospects over 2018-2024, food processing sector to drive the application landscape

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In the industrial sector, the floor coatings are considered as a crucial facet, subject to which the global industrial floor coatings market has been witnessing a phenomenal demand over the recent years. The utilization of coatings is touted as an impressive solution for optimal protection and aesthetics of the industrial and commercial infrastructures. The noticeable shift in the consumer preference for high chemical resistance, mechanical strength, and improved finishing ability of the flooring has significantly influenced the product demand. As per a report by Global Market Insights, Inc., industrial floor coatings market was pegged at USD 4.1 billion in 2017.

North America Industrial Floor Coatings Market, By Application, 2017 & 2024 (USD Million)
North America Industrial Floor Coatings Market, By Application, 2017 & 2024 (USD Million)

Impact of food processing sector on industrial floor coatings market size

Industrial floor coatings market is expected to witness strong application potential in the food and beverage processing industry. While working in the food processing industry, it is quite important to keep all the areas clean – especially the floor. Certain food constituents such as blood, sugar, acids, oils, fats, etc. often fall onto the floors, which are highly susceptible to infections and contaminations. In response to this fact, it is highly important to maintain the sanitary standards of the floors, which has provided a major thrust to the demand of industrial floor coatings market from this application. As per estimates, in 2017, industrial floor coatings market size from food processing was valued at USD 1.5 billion and is further expected to grow at an appreciable pace over 2018-2024.

Many of the food processing industries rely on the epoxy type of coatings, which are highly durable and withstand strong chemical resistance & thermal shocks. Contributing to over 50% of the overall industrial floor coatings market, epoxy is estimated to be register a y-o-y growth of 6% over 2018-2024.

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Industrial floor coatings market demand from warehouse applications

Many industries and manufacturing plants witness repeated spills or a high likelihood of oils, grease, or liquids on the floor. In addition to this, floors of warehouses and manufacturing units also need to withstand wear and tear, created by heavy machinery, high impacts, and excessive heat. Subject to this fact, industrial floor coatings market is gaining huge demand from this application, on account of thriving profoundly on the cusp of rapid industrialization and urbanization. The prominent economies of Asia Pacific including China, Malaysia, India, Vietnam, and Japan promise great potential for the growth of industrial floor coatings industry, owing to rapid infrastructural development. As per estimates, APAC industrial floor coatings market is expected to record a CAGR of 8% over 2018-2024.

The concrete flooring material is witnessing noticeable demand from the manufacturing and warehouses applications. Owing to its superior properties of wear & tear, prevention from abrasion, scratch resistance, and ease of maintenance with excellent aesthetics, industrial floor coatings marker share from concrete materials stood at USD 3 billion in 2017 and is likely to grow at CAGR of 7.5% over 2018-2024.

Demand for bio-based industrial floor coatings to drive the future market trends

The global industrial floor coatings market is witnessing a paradigm shift toward environment-friendly floor coatings. Rising concerns over the fluctuating crude oil prices and the growing dependency on fossil fuel have stimulated the paints & coating industry to strive for sustainability. Growing consumer awareness regarding the impact of synthetic resins on the environment has created huge scope for the industry players to focus on the development of bio-based coatings. Bio based floor coatings are derived from natural sources such as soybean oil, succinic acid, sunflower oil, rapeseed oil, and castor oil.

The key industrial floor coatings market players are joining forces with biotechnology firms to synergize their domains and address the demand for bio-based products. For instance, in 2016, Arkema a leading company in specialty chemicals, has partnered with several industrial coatings companies to develop bio-based materials to meet the latest industry demand and shifting consumer trends. Following this collaboration, in 2017, Bostik, a subsidiary of Arkema acquired CMP specialty products, a flooring and floor preparation unit of U.S. based specialist CGM. The acquisition gave Bostik a fair chance to further exploit the U.S. construction market and provide better and innovative flooring solutions to its customers.

In light of this dynamic scenario, industrial floor coatings market size is certainly liable to surge over the coming years with a projected CAGR of 7.2% over 2018-2024. Some of the other renowned names in industrial floor coatings industry include Dow Chemical, Sherwin-Williams, Akzo Nobel, BASF, Asian Paints, PPG Industries, Tambour, 3M, Kansai Paint Co., Ltd, and Milliken & Company.

Author Name : Ojaswita Kutepatil