Research and Markets has announced the addition of the "Global Industrial Coatings Market 2014-2018" report to their offering.
The analysts forecast the Global Industrial Coatings market will grow at a CAGR of 4.46 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increased collaboration within the supply chain. The Global Industrial Coatings market has also been witnessing increasing demand for water-based industrial coatings.
However, the rising cost of raw materials could pose a challenge to the growth of this market.
The key vendors dominating this space are AkzoNobel N.V., BASF SE, DuPont, and PPG Industries Inc.
The other vendors mentioned in the report are Aegis Industries Inc., Asian Paints Ltd., Beckers Group, Brillux GmbH & Co. KG, Burke Industrial Coatings, Carpoly Chemical Group Co. Ltd., Castagra Products Inc., Chugoku Marine Paints Ltd., Diamond Vogel, Premium Coatings and Chemicals Pvt. Ltd., Hempel A/S, Henkel AG & Co. KGaA, Jamestown Coating Technologies, Jotun A/S, Kansai Paint Co. Ltd., KATS Coatings, Masco Corp., Nippon Paints, RPM International Inc., Sika AG, Superior Industrial Coating Inc., The Sherwin-Williams Co., The Valspar Corp., Tikkurila Oyj, Weilburger Coatings GmbH, Yip's Chemical Holdings Ltd., and Zuelch Industrial Coatings GmbH.
Commenting on the report, an analyst from the team said: The Global Industrial Coatings market is witnessing increasing demand from emerging economies such as India, China, Brazil, and the Commonwealth of Independent States. Rapid economic development in these countries, especially those in the APAC region, is expected to contribute to market growth. The resulting need for better infrastructure such as transport-related facilities, water, and wastewater networks are expected to be major drivers for the market. Also, the growth of commercial and industrial businesses in these countries has led to an increase in demand for industrial coatings for asset protection.
According to the report, many drivers are contributing to the growth of the Global Industrial Coatings market, the most important of which is the rapid development of infrastructure. Such developments are particularly high in developing countries, which consume a large share of industrial coatings for new infrastructure projects, when compared to developed countries, which consume a greater share of industrial coatings for maintenance and repair purposes.