The Germany industrial coatings market size was valued at USD 1 Billion in 2022 and is likely to reach USD 1.33 Billion by 2031, expanding at a CAGR of 3.22% during 2023 – 2031. The growth of the market is attributed to the increasing private investment contribution in the country.
Industrial coatings are intended to satisfy the most elevated modern guidelines in compound and corrosion obstruction. It is produced using polymer substances, which provide high-quality coatings. They offer corrosion security in latches and steel pipes, which hold gases, oil, water, wastewater, petrochemicals, and food handling equipment that require non-stick coating. It is additionally utilized in agricultural, car, and construction equipment.
Industrial coatings are films useful to steel, concrete, and different materials to expand explicit properties such as wear resistance, corrosion resistance, and conductivity. Industrial coatings are fabricated with regular polymers such as polyurethane, alkyd, fluoropolymer, epoxy, acrylic, and polyesters.
The outbreak of COVID19 pandemic has impacted both general industrial sector and automotive sector by creating many challenges for the industrial coatings market. Significant economies of every region are impacted due to pandemic and halted activities across the industries that utilize industrial coatings.
Germany Industrial Coatings Market Trends, Drivers, Restraints, and Opportunities
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Increasing requirement for effective process and long-lasting coatings with better aesthetics is anticipated to drive the market growth.
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Remarkable advancements in the shipbuilding industry is expected to spur the growth of the market.
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Rising demand for protective coatings and growing usage of corrosion coatings are likely to propel the growth of market in the projected timeline.
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Difficulty in obtaining thin films in powder coatings can hinder the market growth.
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Stringent government regulatory guidelines have persuaded manufacturers to improve their processes to comply with new policies, which can create challenges for the market expansion.
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Increasing use of nano-coatings is expected to create lucrative opportunities for the market during the forecast period.
Scope of Germany Industrial Coatings Market Report
The report on Germany industrial coatings market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Germany Industrial Coatings Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Resin Types (Polyester, Polyurethane, Epoxy, Vinyl Ester, and Others), Technology (Solvent-borne, Water-borne, Powder Coatings, and Radiation-cured Coatings), and Types (General Industrial and Protective [Oil & Gas, Power, Mining, Infrastructure, and Others])
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Country
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Germany
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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PPG Industries, Inc.; The Sherwin-Williams Company; AkzoNobel N.V.; Jotun; and Axalta Coating Systems
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Germany Industrial Coatings Market Segment Insights
Polyurethane segment is anticipated to constitute a key market share
On the basis of resin types, the market is categorized as polyester, polyurethane, epoxy, vinyl ester, and others. The polyurethane segment is expected to constitute a key share of the market during the projected period due to increasing infrastructural activities in the country. Polyurethane coatings are generally applied over preliminaries and halfway covers to provide a glistening polished finish, while keeping up with resistivity against climate conditions in regions that are inclined to high wear and resistivity toward a wide scope of solvents.
Powder coatings segment to hold a major market share
Based on technology, the Germany industrial coatings market is divided into solvent-borne, water-borne, powder coatings, and radiation-cured coatings. The powder coatings segment is expected to constitute a key share of the market during the projected period due to its extremely effective method with over 98% powder overspray recoverability, developed resistance to chipping, grazing, waning, and wearing. Powder coating is a dry completing method wherein the finely ground particles of color and resin are electrostatically charged and splashed onto electrically grounded parts. The powder-based modern coatings offer low VOC outflow, providing prevalent execution and cost proficiency for applications that require the most extreme scraped area opposition and hardness.
Oil & gas segment is anticipated to exhibit a high CAGR
In terms of types, the market is bifurcated into general industrial and protective. The protective segment is further classified as oil & gas, power, mining, infrastructure, and others. The oil & gas segment is projected to expand at a considerable CAGR during the forecast period due to involvement of operations, such as wellhead, drilling, and sub-sea equipment, which require coatings specifically for abrasion & heat resistance, and long-lasting life.
Segments
The Germany industrial coatings market is segmented on the basis of:
Resin Types
- Polyester
- Polyurethane
- Epoxy
- Vinyl Ester
- Others
Technology
- Solvent-borne
- Water-borne
- Powder Coatings
- Radiation-cured Coatings
Types
- General Industrial
- Protective
- Oil & Gas
- Power
- Mining
- Infrastructure
- Others
Country
Key Players
- PPG Industries, Inc.
- The Sherwin-Williams Company
- AkzoNobel N.V.
- Jotun
- Axalta Coating Systems.
Competitive Landscape
The key players competing in the Germany industrial coatings market are PPG Industries, Inc.; The Sherwin-Williams Company; AkzoNobel N.V.; Jotun; and Axalta Coating Systems.
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