Market Size of Australia Industrial Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Australia Industrial Coatings Market Analysis
The industrial coatings market in Australia is expected to register a CAGR of over 3% during the forecast period.
The COVID-19 pandemic negatively impacted the industrial coatings market in Australia since the major end-user industries were forced to close due to manpower shortages. Currently, it is anticipated that the market has returned to pre-pandemic levels.
- Increasing demand for protective coatings and growing usage of corrosion coatings are expected to drive the industrial coatings market's growth in Australia.
- The harmful environmental impact of solvent-borne coatings is the major factor hindering the growth of the target market.
- Increasing demand for highly durable products is anticipated to create new opportunities in the near future.
Australia Industrial Coatings Industry Segmentation
Industrial coatings are polymer compounds primarily utilized to fulfill industrial design criteria such as non-stick performance, corrosion resistance, and chemical protection on the coated surface. Australia's industrial coatings market is segmented by resin type, technology, and end-user industry. By resin type, the market is segmented into epoxy, polyurethane, acrylic, polyester, and other resin types. By technology, the market is segmented into water-borne coatings, solvent-borne coatings, powder, and other technologies. By end-user industry, the market is segmented into general industrial and protective coatings. For each segment, the market sizing and forecasts have been done on the basis of value (USD Million).
| Resin Type | |
| Epoxy | |
| Polyurethane | |
| Acrylic | |
| Polyester | |
| Other Resin Types |
| Technology | |
| Water-borne Coatings | |
| Solvent-borne Coatings | |
| Powder | |
| Other Technologies |
| End-user Industry | ||||||
| General Industrial | ||||||
|
Australia Industrial Coatings Market Size Summary
The industrial coatings market in Australia is poised for growth, driven by an increasing demand for protective and corrosion-resistant coatings. The market is recovering from the setbacks caused by the COVID-19 pandemic, which had temporarily disrupted operations in key end-user industries. The oil and gas sector, in particular, is a significant consumer of industrial coatings, utilizing them to protect pipelines and equipment from harsh environmental conditions. The demand for highly durable and environmentally friendly water-borne coatings is on the rise, especially in the automotive and construction sectors, where they are gradually replacing solvent-borne alternatives due to their non-reactive nature.
The market landscape is characterized by the presence of major players such as PPG Industries, AkzoNobel N.V., Arc Industrial Coatings, The Sherwin-Williams Company, and Hempel A/S. These companies are actively innovating and expanding their product offerings to meet the evolving needs of the industry. For instance, PPG Industries has introduced a novel retroreflective powder coating, while Hempel's acquisition of Wattyl aims to enhance its digital platform capabilities in the Australian market. The ongoing demand for industrial coatings, particularly in the oil and gas and automotive sectors, is expected to sustain the market's growth trajectory over the forecast period.
Australia Industrial Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand for Protective Coatings
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1.1.2 Increasing Usage of Corrosion Coatings
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1.2 Restraints
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1.2.1 Harmful Environmental Impact of Solvent-borne Coatings
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Resin Type
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2.1.1 Epoxy
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2.1.2 Polyurethane
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2.1.3 Acrylic
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2.1.4 Polyester
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2.1.5 Other Resin Types
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2.2 Technology
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2.2.1 Water-borne Coatings
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2.2.2 Solvent-borne Coatings
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2.2.3 Powder
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2.2.4 Other Technologies
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2.3 End-user Industry
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2.3.1 General Industrial
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2.3.2 Protective Coatings
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2.3.2.1 Oil and Gas
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2.3.2.2 Power
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2.3.2.3 Infrastructure
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2.3.2.4 Other End-user Industries
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Australia Industrial Coatings Market Size FAQs
What is the current Australia Industrial Coatings Market size?
The Australia Industrial Coatings Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Australia Industrial Coatings Market?
PPG Industries , AkzoNobel N.V., Arc Industrial Coatings , The Sherwin-Williams Company and Hempel A/S are the major companies operating in the Australia Industrial Coatings Market.
