Industrial Coatings Market in APAC 2015-2019
About Industrial Coatings
Industrial coatings protect steel, aluminium, wood, and plastic from fire, moisture, and corrosion. They also enhance the aesthetics of the coated material. These coatings are used in a wide variety of industries including automotive, construction, and electronics, and are available in four different forms: liquid, powder, pre-treatment, and electrocoat.
Technavio's analysts forecast the industrial coatings market in APAC to grow at a CAGR of 5.49% over the period 2014-2019.
Covered in this Report
The industrial coatings market in APAC can be segmented into three: construction, transportation, and electronics.
Technavio's report, Industrial Coatings Market in APAC 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the industrial coatings market in APAC and its growth prospects in the coming years. The report also includes a discussion about the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Industrial Coatings Market in APAC 2015-2019
Technavio recognizes the following companies as the key players in the Industrial Coatings Market in APAC: AkzoNobel NV, Axalta Coating Systems LLC, BASF SE, Beckers, PPG Industries Inc., Sherwin-Williams Co. and Valspar Corp.
Other Prominent Vendors in the market are: Aegis Industries, Alumax Industrial, Asian Paints, Berger Paints India Ltd., Carpoly Chemical Group, Chugoku Marine Paints, Hempel, Henkel, JK Surface Coatings, Jotun, Kansai Paint, KATS Coatings, Nippon Paints, Premium Coatings and Chemicals, RPM International, Superior Industrial Coating, Weilburger Coatings and Yip's Chemical Holdings
Commenting on the report, an analyst from Technavio’s team said: “Demand for industrial coatings from emerging economies such as India, China, Brazil, and the Commonwealth of Independent States is on the rise. Rapid economic development in these countries, especially those in APAC, is expected to contribute to market growth.”
According to the report, the growing number of infrastructure projects in developing countries has led to high demand for industrial coatings in these regions. Economic development in India and China has also resulted in the growth of the countries' electronics and transportation industries, which are major end-users of industrial coatings.
Further, the report states that governments worldwide have formulated laws and regulations to limit the negative impact of VOCs, toxic chemicals such as tributyltin, and heavy metals such as lead and chromium that are likely to be present in coatings.