Industrial Coatings Market Growing demand from the manufacturing sector
Industrial coatings are applied on machinery, tools, engines, buildings and structures to protect them from physical and chemical wear and tear. They provide properties like corrosion resistance, chemical and heat resistance. With rapid industrialization and growth in manufacturing sector, demand for capital goods have increased tremendously. The growing manufacturing output have led to increased demand for industrial machinery, equipment and infrastructure which requires protective and decorative coatings for enhanced durability and aesthetics. The global Industrial Coatings Market is estimated to be valued at US$ 47.23 billion in 2024 and is expected to exhibit a CAGR of 8.3% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The key trend driving growth in the Global Industrial Coatings Market Size is growing manufacturing sector output in emerging economies like China, India Brazil etc. Rapid indu...