Growing Demand from Auto OEM to Lead Global Industrial Coatings Market Growth with 5.7% CAGR, to Reach 25 Billion Ltr by 2022
Industry Experts unveiled a new market research report ‘ Industrial Coatings– A Global Market Overview ’. The new report reveals that, globally, volume consumption of General Industrial Coatings is the largest product segment, expected to maintain a CAGR of 5.7% between 2016 and 2022 and reach a projected 5.4 billion liters by 2022 from a forecast 3.9 billion liters in 2016. In terms of growth, however, the global volume market for Auto OEM Coatings is poised to post the fastest similar period compounded annual rate of 6.6% and reach a projected 3.3 billion liters by 2022, compared to a forecast 2.2 billion liters in 2016. The diversity of industrial coatings can be attributed to the extensive range of its application areas. This sector encompasses protective coatings for architectural steel, automobiles and other transportation media, oil and offshore structures and wood furniture and fixtures, just to name a few. Being primarily utilized for protecting substrates against attacks b...