The industrial coatings market has been experiencing continual growth and is expected to grow at a compound annual growth rate (CAGR) of 3.5% from 2022 to 2030, from the valued market size of $83 billion in 2021, according to Grand View Research. Increasing demand in the general industrial and use market segment is driving demand. Industrial coatings are commonly used in many other end-use segments, such as vehicle finish and automotive, aerospace, marine, electronics, mining, power generation, and oil and gas.
The major industrial coatings include automotive and refinish coatings, with a growing usage of refinish coatings required for automotive repair and maintenance and painting required aftermarket for surface protection, corrosion resistance, and visual appearance. The increasing demand for industrial coatings has been steady, with China leading the growth and Western Europe and North America also presenting opportunities for growth.
Industrial coatings are also used in many industries and applications for a variety of end-use markets, such as general industrial, protective coatings, industrial wood, rail, appliances, consumer goods, and coil coatings.
Meeting Customer Demands For Industrial Coatings
Increasing Product Lifecycle
Companies using industrial coatings for their products are mostly concerned about manufacturers of coatings increasing their own product lifecycle to extend their assets’ service life. Quality industrial coatings positively impact products and service life with properties including durability against UV exposure and corrosion resistance.
Process Improvements
Companies using industrial coatings are also interested in process improvements with efficient operations, energy conservation, and waste reduction. Reducing waste also reduces a company’s environmental footprint contributing to corporate responsibility and sustainability goals.
Environmental Compliance
Additional concerns include reducing environmental impact and reducing worker exposure to hazardous chemicals. Continually evolving and stricter environmental regulations are driving sustainability efforts in the industrial coatings market. A notable trend for reduced volatile organic compounds (VOC) and solvent-based coatings, as well as an increase for water-based coatings, continues across all industrial coating sectors.
Forward-thinking industrial coating suppliers are ever more focused on sustainable coating solutions to contribute to customers’ sustainability goals. More environmentally friendly coatings are becoming increasingly popular in China and Europe. Improving environmental compliance includes higher solids solvent-borne products as well as waterborne coatings.
Partner for Growth with Strong Technical Service
Businesses utilizing industrial coatings are looking for more than just a paint supplier; they want to partner with a coatings supplier that can provide strong technical service to help them increase market share and support significant growth. Companies are continually faced with quicker turnaround times and challenges meeting increased production rates along with more customization and appearance in the color of coatings.
Industrial coatings can make or break these companies that need to continually perform to meet increasing and constantly changing customer demands. Industrial coatings can support growth or limit it. Companies that are succeeding have migrated away from paint suppliers to custom chemical and coding manufacturers that can help position their businesses to gain market share.
Industrial Coating Supplier with Strong Technical Expertise
Universal Chemicals & Coatings, Inc., UNICHEM, is a leading supplier of high-tech, high-quality industrial coatings used across many market segments. UNICHEM partners with our customers to be your full-service supplier to meet and exceed all of your requirements for industrial coatings, adhesives, and paints. We offer a dedicated research and development team committed to providing unique, customized solutions to improve your finished products and increase operational efficiencies.
UNICHEM offers exceptional research, development, and product testing, certified quality assurance testing, and rapid and innovative manufacturing to bring innovative solutions to a diverse range of industries.
UNICHEM is a leading industrial coating and adhesive supplier with more than 50 years of experience. We offer custom chemistries to meet product functionality and environmental demands, as well as all environmental compliance regulations. Contact us to learn more about improving your products and processes with an industrial coating technical supplier on your team.