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Global Industrial Liquid Coatings Market Research Report: Information By Resin, Technology, End Use and Region - Forecast till 2025

Author : Ravi Chawat | Published Date : 2021-09-20 

Industrial Liquid Coatings Market will surpass USD 70 billion by 2025; according to a new research report.

Growth in oil & gas industry around the world is a major factor prompting the growth of industrial liquid coatings market positively in coming years. The product is extensively used on oil & gas pipelines and equipment involved in exploration and drilling activities. It provides them resistance from corrosion, harmful oils, gases, acids, extreme weather conditions, etc. Rising crude oil prices along with advent of cost effective drilling & exploration techniques has given boost to the upstream and midstream sectors across the globe. New administrations of developed economies such as the U.S. are focusing on expanding their oil & gas industry to become energy self-sufficient. It is also expected that the North America region will add highest pipeline length of around 60 thousand kilometers by 2021. This will subsequently propel product market demand over the forecast timespan.

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Growth in general industrial sector across Asia Pacific will augment the demand for industrial liquid coatings in near future. The product is used in coating different equipment and components in end-user industries including food & beverage, electronics, petrochemical & refineries, pharmaceutical and general manufacturing. Legislative amendments done by emerging economies to boost manufacturing sector along with easy availability of skilled labor at low cost are the prime reasons that Asia Pacific is now a manufacturing hub and contributes about 40% of world's output. Rising demand for commodities and ease of raw material availability made the region a preferred choice of various global players driving the product market demand in positive manner over the forecast time spell.

Based on resin acrylics will witness an annual growth rate of about 4.5% from 2018 to 2025. Product properties such as resistance to moisture, UV rays, chemicals and rust makes it ideal to be used over aluminium and steel. Acrylic coatings have end use applications on piping, steel structures, machineries, power plant equipment., etc.

Get Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/industrial-liquid-coatings-market

On the basis of application oil & gas pipelines will observe an annual growth rate of 6% over the forecast timespan. The product provides exceptional corrosion protection to external and internal pipes for gas risers, hydrants and oil & gas pipelines. The product also provides mechanical, chemical resistance along with gloss and color retention to the machines used in agricultural & heavy equipment segment.

North America market will experience a CAGR of over 6.5% from 2018 to 2025 due to the presence of extensive general industrial sector in the region. Also, the region has the largest network of oil & gas transmission pipelines combining both U.S. and Canada. Upliftment of ban on U.S. for crude oil export results in expansion of pipeline network in region, driving the growth of product market positively in coming years.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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