London, 24 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the industrial coatings market in the APAC 2015-2019, which is expected to grow at a CAGR of 5.49% during the forecast period of 2014-2019.
The rapid expansion in infrastructure with many new construction projects being initiated worldwide is a prime factor driving the growth of the market. Innovations in the market products and increased collaboration within the supply chain also contribute to market growth.
“Vendors in the market are introducing a number of eco-friendly products in response to the implementation of stringent environment-related regulations in developed countries and increasing restrictions in developing countries,” says Faisal Ghaus, Vice President of Technavio.
“There has also been a gradual shift toward the use of powder coatings, high-solid coatings, UV-curable coatings, and water-borne or solvent-free industrial coatings that have low VOC content.”
Key Market Drivers
- Rapid Development of Infrastructure
- Introduction of New Products
- Increased Collaboration within Supply Chain
Key Market Trends
- Increasing Demand from Emerging Economies
- Growing Preference for Eco-friendly Coatings
- Increasing Demand for Water-based Industrial Coatings
Key Market Vendors
- AkzoNobel NV
- Axalta Coating Systems LLC
- BASF SE
- Beckers
- PPG Industries Inc.
- Sherwin-Williams Co.
- Valspar Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
