Industrial Liquid Coating Market was valued US$ 45 Bn in 2017 and is estimated to reach US$ 71 Bn by 2026 at a CAGR of about 6% during a forecast. Industrial Liquid coating also known as wet painting. Due to certain limitation of powder coating, liquid coating has gain market. Liquid coatings offers more shades of colour, thinner coats, easier masking, smoother surface, dries much smoother for a shinier, less textured appearance, noise control, corrosion & chemical resistance, wear resistance & non-stick, abrasion resistance. Liquid coating enhances material efficiency. Liquid coating includes both solvent based coating and water borne coating. Industrialization, urbanization, expansion of automobile industry and remodelling & expansion in infrastructure sector is driving the Industrial liquid coating market. Government regulation regarding emission of VOCs in solvent based coating restrain the industrial liquid coating market.
Epoxy resin occupied one third share of the industrial liquid coatings market in 2017. Epoxy resin will continue gaining share owing to properties offered like quick drying, easy application method, protective nature, toughness and other mechanical properties. Polyester based coatings holds second largest market share. Polyester coatings offers superior performance, fast drying, corrosion resistance, cost-effectiveness and other chemical resistance characteristics. Solvent based coating is dominating the industrial liquid coating market. Solvent-based coatings refers to evaporate via a chemical reaction with oxygen.
Solvent based coatings is less susceptible to environmental conditions such as temperature and humidity during the curing process. Humidity can prevent the water in a water-based coating from evaporating, making them impractical in some climates. Environmental concern regarding VOCs emission is about to restrain the solvent based coating market. Water based coating will gain a significant share in the market due to adoption of eco-friendly coatings. General industrial segment holds maximum share of market followed by automotive.
General industrial segment includes industries such as home appliance manufacturing, food & beverage, textiles, steel, pharmaceutical, containers and packaging, etc. Growing demand for various household application due to rise in disposable income and improved lifestyle will raise the market. Expanding automotive sector is predicted to augment the market growth. Asia Pacific accounted for the largest share of the market. Industrialization, urbanization and remodelling of infrastructure led by emerging countries like China & India is driving the market in Asia Pacific region. Europe followed Asia Pacific. North America registers a significant growth.