Technavio has published a new report on the global industrial coatings market, which is expected to grow at a CAGR of more than 5% from 2015-2019. Technavio’s report analyzes the solutions and products offered by market vendors and presents a comprehensive breakdown of the market by end-user, including general finishes, automotive original equipment manufacturers (OEMs), automotive refinish, wood coatings, and coil coatings.

Additionally, analysts have segmented the market by key region, including Asia-Pacific (APAC), Europe, Middle East, and Africa (EMEA), and the Americas.

“The growing demand for industrial coatings from emerging economies such as India, China, Brazil, and the Commonwealth of Independent States is on the rise. Rapid economic growth in these countries, especially those in Asia-Pacific, is expected to contribute to market growth,” said Faisal Ghaus, Vice President of Technavio.

The report covers the present scenario and growth prospects of the global industrial coatings market for the period 2015-2019. To calculate the market size, we use the revenue generated from the sales of industrial coatings.

Highlights of the report include:

•      Key vendors:

        AkzoNobel NV
        Axalta Coating Systems LLC
        BASF SE
        Beckers
        PPG Industries Inc.
        Sherwin-Williams
        Valspar

•     Market growth drivers:

        Rapid development of infrastructure
        Introduction of new products

•     Market challenges:

        Stringent laws and regulations
        Rising cost of raw materials

•     Market trends:

        Increasing demand from emerging economies
        Growing preference for eco-friendly coatings