Industrial Coatings Market Size To Reach $116.68 Billion By 2030

Industrial Coatings Market Growth & Trends

The global industrial coatings market size is estimated to reach USD 116.68 billion by 2030, registering a CAGR of 3.8% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing product demand from the general industry, automotive & refinish, oil & gas, marine, mining, power generation, electronics, aerospace, and other application industries is expected to propel market growth. Industrial coatings are widely used in general industrial applications, such as in heat exchangers, steel structures, containers, concrete, furniture, appliances, and material handling equipment, to protect them from heat and humidity. It also helps protect equipment against corrosion, abrasion, and chemical attack, thereby improving product efficiency.

Emerging economies, such as Brazil, China, and India, are expected to provide new growth opportunities for the market on account of rapid industrialization. The presence of a large number of manufacturers is also projected to fuel the demand for industrial coatings for general industrial applications. However, the outbreak of COVID-19 in China and other countries, including India, Australia, Thailand, and Japan, resulted in the lockdown of major cities and caused a sharp slowdown in the manufacturing industries, which hindered market growth. Based on the product segment, alkyd is anticipated to grow at a substantial growth rate over the forecast period. Alkyd coatings are used in an industrial environment majorly for metal coatings. These coatings have good gloss & color retention and corrosion resistance properties.

They increase the durability of metal, which finds application in the coating of various structures, such as bridges, towers, oil & gas plants, automotive parts, and marine vessels. Rising product demand is also attributed to its expanding application scope in the construction, automotive, and oil & gas industries. The presence of low VOC contents is expected to drive the segment growth in matured Europe market and the U.S. and Canada. The powder-based coatings segment is projected to witness a considerable growth rate during the forecast period. It is more durable and eco-friendlier compared to its counterparts. Powder coatings have negligible VOC content due to the absence of solvents and thus, they comply more efficiently and economically with the Environmental Protection regulations.

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Industrial Coatings Market Report Highlights

• Asia Pacific dominated the global industry in 2024 and will expand further at the fastest CAGR during the forecast period

• The acrylic segment led the industry in 2024 owing to its rising demand in various end-use industries

• Powder-based coatings are widely used in agricultural equipment, automotive, machine components, mechanical parts & building facades, and electrical fixtures to prevent corrosion and provide a thicker coating

• Increasing demand for farming equipment, such as tractors, in Brazil, India, and China is expected to boost the demand for powder-based industrial coatings

• Various strategic initiatives were recorded over the past few years to boost the industry growth.

Industrial Coatings Market Segmentation

Grand View Research has segmented the global industrial coatings market based on product, technology, end-use, and region:

Industrial Coatings Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Acrylic

• Alkyd

• Polyurethane

• Epoxy

• Polyesters

• Others

Industrial Coatings Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Solvent Borne

• Water Borne

• Powder Based

• Others

Industrial Coatings End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• General Industrial

• Marine

• Automotive & Vehicle Refinish

•  Electronics

• Aerospace

• Oil & Gas

• Mining

• Power Generation

• Others

Industrial Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030) 

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

List of Key Players in the Industrial Coatings Market

• BASF SE

• Akzo Nobel N.V.

• Axalta Coating Systems

• Jotun

• PPG Industries, Inc

• The Sherwin-Williams Company

• Nippon Paint Holdings Co., Ltd.

• Hempel A/S

• RPM International Inc.

• Diamond Paints

• Kansai Paints