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Industrial Coatings Market to be Worth $112.22 Billion by 2030: Grand View Research, Inc.

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The global industrial coatings market size is expected to reach USD 112.22 billion by 2030, registering a CAGR of 3.5% during the forecast period, according to a new study by Grand View Research, Inc. Increasing product demand from the aerospace, electronics, power generation, mining, marine, oil & gas, automotive & refinish industries is expected to propel the market growth. Industrial coatings are widely used in general industrial applications, such as in heat exchangers, steel structures, containers, concrete, furniture, appliances, material handling equipment, and others to protect them from heat and humidity. These coatings also help protect equipment against chemical attack, abrasion, and corrosion, thereby improving product efficiency.

Key Industry Insights & Findings from the report:

  • Growing R&D investments by major industry players to develop sustainable and VOC-free coatings are expected to propel the product demand.
  • Asia Pacific dominated the global market in 2021 and is projected to witness the fastest CAGR from 2022 to 2030.
  • The acrylic product segment is potentially fueling the market growth owing to its rising demand in various end-use industries.
  • The solvent-borne technology segment accounted for the largest revenue share in 2021 and will expand further at a steady CAGR from 2022 to 2030.
  • The general industrial end-use segment accounted for the largest revenue share in 2021 and is expected to grow at a significant CAGR during the forecast period.

Read 143-page market research report, “Industrial Coatings Market Size, Share & Trends Analysis Report By Product (Polyester, Acrylic, Alkyd, Epoxy), By Technology (Water-borne, Powder-based), By End-use (Mining, General Industrial), By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.

Industrial Coatings Market Growth & Trends

Rapid industrialization in economies, such as IndiaChina, and Brazil, is also expected to provide new opportunities for the market. The presence of a large number of manufacturers is also projected to fuel the product demand from general industrial applications. The acrylic product segment is estimated to register the fastest CAGR from 2022 to 2030. On account of good adhesion, corrosion resistance, fast-drying properties, and barrier & inhibiting ability, acrylic industrial coatings are widely used in the automotive & auto refinish, general industries, aerospace, and other end-use sectors. Machinery equipment, new construction & refurbishment, automobiles, and intermodal containers are some of the applications of acrylic industrial coatings.

Alkyd is also anticipated to grow at a substantial growth rate during the forecast period. Alkyd coatings are used in an industrial environment majorly for metal coatings. These coatings have good gloss & color retention and corrosion resistance properties. They increase the durability of metal and thus find application in the coating of various structures, such as marine vessels, automotive parts, oil & gas plants, towers, and bridges. The water-based technology segment is expected to have the fastest CAGR from 2022 to 2030 as these coatings dry quicker than solvent-based coatings due to the faster evaporation of water from the coating layer. This results in fast-drying without the formation of surface skin. Water-based industrial coatings are mainly used in applications where solvent-based coatings react with the substrate.

They are ideal to use as primers as they possess excellent corrosion and thermal resistance. They have low toxicity due to the low VOC content and less hazardous air pollutant emissions and are flame-resistant. Due to strict legislation regarding the solvents present in coatings in the U.S. and several European countries, the use of water-based coatings is projected to increase. The powder-based technology segment is projected to witness considerable growth during the forecast period. It is more durable and eco-friendlier compared to its counterparts. Powder coatings have negligible VOC content due to the absence of solvents and thus, they comply more efficiently and economically with the environmental protection regulations.

Powder-based coatings are widely used in agricultural equipment, automotive, machine components, mechanical parts & building facades, and electrical fixtures to prevent corrosion and provide a thicker coating. Increasing demand for farming equipment, such as tractors, in BrazilIndia, and China is expected to boost the demand for powder-based industrial coatings. Various strategic initiatives were recorded over the past few years to boost the growth of the market. For instance, in July 2019, Axalta Coating Systems, LLC showcased its new technology, Amarium Pre-Catalyzed Lacquers, for use in wood coatings. The new technology protects the surface from ultra-violet radiation and is used for various applications including wooden furniture, cabinets, and other interior wood surfaces.

Industrial Coatings Market Segmentation

Grand View Research has segmented the global industrial coatings market based on product, technology, end-use, and region

Industrial Coatings Market – Product Outlook (Volume, Kilotons, Revenue, USD Million, 2019 – 2030)

  • Acrylic
  • Alkyd
  • Polyurethane
  • Epoxy
  • Polyester
  • Others

Industrial Coatings Market – Technology Outlook (Volume, Kilotons, Revenue, USD Million, 2019 – 2030)

  • Solvent-borne
  • Water-borne
  • Powder-based
  • Others

Industrial Coatings Market – End-use Outlook (Volume, Kilotons, Revenue, USD Million, 2019 – 2030)

  • General Industrial
  • Marine
  • Automotive & Vehicle Refinish
  • Electronics
  • Aerospace
  • Oil & Gas
  • Mining
  • Power Generation
  • Others

Industrial Coatings Market – Regional Outlook (Volume, Kilotons, Revenue, USD Million, 2019 – 2030)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
  • Central & South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE

List of Key Players of the Industrial Coatings Market

  • PPG Industries, Inc.
  • Akzo Nobel N.V.
  • The Sherwin-Williams Company
  • Axalta Coating Systems, LLC
  • Jotun
  • BASF SE
  • Henkel AG & Company, KGaA
  • Nippon Paint Holdings Co., Ltd.
  • Hempel A/S
  • Beckers Group

Check out more related studies published by Grand View Research:

  • Intumescent Coatings Market – The global intumescent coatings market is expected to reach USD 1,753.03 million by 2030, registering a CAGR of 5.5% during the forecast period from 2022 to 2030, according to a new study by Grand View Research, Inc. Extensive usage of passive fire protection for steel structures, used in offshore & onshore extraction and purification & refining in the oil & gas industry is the key factor boosting the market growth.
  • Ceramic Coating Market – The global ceramic coating market is expected to reach USD 19.19 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.8%, according to a new report by Grand View Research, Inc. This is due to the increasing utilization of automobile engine components and the aerospace & defense industry, which is projected to propel the market growth during the forecast period. Furthermore, ceramic coatings are being extensively used in the automobile and transportation industry, owing to their anti-corrosion properties and offering resistance to abrasion and heat. Ceramic coatings are also used for providing a finished polish look on the exterior body of cars slowly replacing wax.
  • Flat Glass Coatings Market – The global flat glass coatings market size is expected to reach USD 10.3 billion by 2030, registering a CAGR of 20.4% during the forecast period, according to a new study by Grand View Research, Inc. Rising demand for mirror and glass facades from the commercial and residential sectors coupled with growing product adoption in the automotive & transportation sector is likely to drive the market during the forecast period

Artificial Intelligence

CleverTap launches Clever.AI, the AI-Driven Edge for Customer Engagement & Retention

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Clever.AI will help brands achieve 66% higher conversion rates and 35% boost in operational efficiency
SAN FRANCISCO and MUMBAI, India, May 3, 2024 /PRNewswire/ — CleverTap, one of the leading all-in-one customer engagement and retention platforms, today announced the launch of Clever.AI, its AI engine. With Clever.AI, CleverTap seeks to enable brands with the next generation of AI capabilities required to build human-like understanding of customers and deliver personalized experiences efficiently that resonate with them, ultimately maximizing customer lifetime value.

Clever.AI is built on the foundation of three core AI pillars – Predictive, Generative, and Prescriptive. Clever.AI propels these three pillars to transform the way brands engage with customers and make customer interactions more intelligent, and efficient.
Clever.AI enables brands to become:
Insightful: With Predictive AI capabilities, it forecasts precise business outcomes, helping brands to anticipate customer needs. Clever.AI’s insights are powered by CleverTap’s proprietary TesseractDB™ which ensures data granularity with an extended lookback period, making predictions more accurate, and enabling brands to make informed decisions, resulting in improved marketing ROIEmpathetic: Taking GenAI forward, Clever.AI merges creativity with emotional intelligence, crafting content that resonates on a human level. This empathetic approach helps brands drive higher conversions and engages customers with hyper-personalized experiencesActionable: Leveraging Prescriptive AI capabilities, it provides actionable recommendations to maximize conversions throughout the customer journey by helping brands identify the optimal engagement strategies in real-timePeter Takacs, Digital Product Manager, Burger King said, “I would rate it 10 for its ease of use and numerous possible use cases. We uplifted our marketing campaigns by easily experimenting with multiple possibilities and quickly converging on the optimum one. It opens up a new era of continuous experimentation for us.”
Anand Jain, Co-founder and Chief Product Officer, CleverTap said, “We’re thrilled to unveil Clever.AI, a testament of our pursuit over the last several years in leading the way in adopting the latest tech to transform customer engagement. We will continue to innovate CleverTap’s All-in-One engagement platform with Clever.AI enhancing its precision in predictions, its ability to prescribe intelligent customer experiences strengthened by advanced product analytics and deeper persona profiling to ensure brands can build highly personalized experiences, and campaigns more effectively, ensuring every customer interaction is personalized and outcome driven.”
With Clever.AI, brands have already experienced a boost in conversion with significantly higher operational efficiency. They witnessed a 66 percent increase in conversion rates, 35% boost in operational efficiency and a 3x improvement in click-through rates (CTRs), with an increase across metrics such as purchases, and average order values (AOVs). Moreover, Clever.AI enhanced operational efficiency by simplifying campaign roll-outs, content creation, and experimentation at scale. Clever.AI has helped leading brands like TouchnGo, Swiggy, Burger King add efficiency to their campaigns.
CleverTap will unveil its new AI capabilities through its Spring Release ’24 event slated from 6th May to 9th May, through a series of thought-provoking sessions on how AI can make campaigns more intelligent, efficient, and engaging for brands.
About CleverTap
CleverTap is the all-in-one engagement platform that helps brands unlock limitless customer lifetime value by helping them create personalized experiences to retain their most valuable customers. The platform empowers businesses to orchestrate experiences for individuals across their lifecycles and design personalized journeys that span a lifetime. It offers analytics that encompasses every aspect of the lifecycle, enabling businesses to measure and optimize each experience in real-time. Its unique AI capability is insightful, empathetic, and prescriptive, facilitating smarter and faster decisions. The all-in-one platform unifies experiences from every touchpoint, paving the way for a new era of customer engagement.
The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering both speed and economies of scale.
CleverTap is trusted by 2000 customers, including Electronic Arts, TiltingPoint, Gamebasics, Big Fish, MobilityWare, TED, English Premier League, TD Bank, Carousell, AirAsia, Papa John’s, and Tesco.
Backed by leading investors such as Peak XV Partners, Tiger Global, Accel, CDPQ, and 360 One, the company is headquartered in San Francisco, California, with presence in New York, São Paulo, Bogota, London, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Delhi, Singapore, Jakarta, and Ho Chi Minh.
For more information, visit clevertap.com or follow us on: LinkedIn: https://www.linkedin.com/company/clevertap/X: https://twitter.com/CleverTap
Forward-Looking Statements
Some of the statements in this press release may represent CleverTap’s belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.
Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.
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Artificial Intelligence

Appian Named a Leader in the 2024 Gartner® Magic Quadrant™ for Process Mining Platforms Report

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LONDON, May 3, 2024 /PRNewswire/ — Appian (Nasdaq: APPN) today announced it has been named a Leader by Gartner in its 2024 Magic Quadrant for Process Mining Platforms report. The report evaluated 18 vendors and their product offerings. For more information, download a complimentary copy of the Gartner Process Mining 2024 report. 

Gartner defines Process Mining platforms as tools that deliver visibility and insights to technology innovation leaders that enable smart decision making and strong performance on an organisation’s critical priorities. Features that make Appian a leader in Process Mining, include:
Faster data prep that eliminates complex transformation with always-ready data from multiple sources.Automated process analysis and intelligent recommendations for where and how to take action.A low-code experience for measuring, monitoring, and optimising process performance—all within one platform.”We believe that Appian’s recognition in the Gartner Process Mining Platforms Magic Quadrant underscores our dedication to process excellence. Through Process HQ, we integrate data fabric, process mining, machine learning, and generative AI to streamline manual data prep, enabling businesses to gain insights swiftly and implement improvements easily,” said Michael Beckley, CTO and Founder of Appian. “Our unified approach merges Process Mining with AI-driven process automation, setting a new standard for efficiency and intelligence.”
Business users need greater visibility into the full breadth of their enterprise data and processes in order to maximise operational efficiency and strategic decision-making. By combining the latest technologies in data fabric, process mining, machine learning, and generative AI, Process HQ helps monitor and improve every business process built on Appian. Process HQ makes it easy to reduce costs, risks, and delays, improve compliance, and drive better business outcomes, without the need for costly and time-consuming data collection efforts.
Appian is now an industry leader across its value proposition to Design, Automate, and Optimise the most complex business processes. In addition to today’s announcement, Appian was named a Leader in the 2023 Gartner® Magic Quadrant™ for Enterprise Low-Code Application Platforms report, and was ranked #1 for the Business Workflow Automation with Integration Use Case in the 2023 Gartner® Critical Capabilities for Enterprise Low-Code Application Platforms (LCAP) report.
To access the report and to learn more about Appian’s positioning, visit https://ap.pn/3y2ClZy. Register for our upcoming webinar Process Intelligence Made Easy: The Key to Better Business Decisions on June 20, 2024 at 12pm EST to discover how Process HQ can improve business processes.
Gartner disclaimerGartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organisation and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER is a registered trademark and service mark of Gartner and Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
About Appian
Appian is a software company that automates business processes. The Appian AI Process Platform includes everything you need to design, automate, and optimise even the most complex processes, from start to finish. The world’s most innovative organisations trust Appian to improve their workflows, unify data, and optimise operations—resulting in better growth and superior customer experiences. For more information, visit appian.com. [Nasdaq: APPN]
Follow Appian: LinkedIn, X, and X (UK).
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Artificial Intelligence

Innodisk Introduces iCAP Air: Advancing Air Quality Management through Autonomous Decision-Making

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TAIPEI, May 3, 2024 /PRNewswire/ — Innodisk, a global leader in AI solutions, has taken a pivotal step forward in environmental sustainability with the launch of its latest innovation, the “iCAP Air” air quality management solution. This solution empowers businesses worldwide to enhance air quality, sustainability, and human health. Additionally, business can benefit from monthly AI-generated air quality data report, providing valuable insights for informed decision-making.

Leveraging its expertise in edge computing and software and hardware integration, along with the expertise of its subsidiary Sysinno in air quality detection, Innodisk has achieved the development of the “iCAP Air” air quality management solution. This solution integrates advanced technology, including the innovative “iAeris7” air quality detector from Sysinno, to deliver accuracy in detecting temperature, humidity, fine suspended particles (PM2.5), suspended particles (PM10), carbon dioxide (CO2), formaldehyde and total volatile organic compounds (TVOC). It can also be customized to detect NO2, SO2, CO, NH3, and other air factors. At the same time, the iAeris7 device is known for its reliability, patented technology, and various international certifications, including those from SGS and FCC/CE/RoHS/NCC/BSMI.
The solution also includes the “iCAP Air Server,” designed to manage large-scale deployment and data from up to 100 air quality detectors, ensuring seamless integration and efficient operation, even in complex environments. Additionally, iCAP Air provides a user-friendly air quality management platform, enabling organizations to monitor air quality in real-time via a mobile app or internet browser, receive automatic alerts, and optimize air purification or exhaust ventilation system.
iCAP Air is a comprehensive solution that simplifies air quality management for users. It is tailored for medium to large-sized sites or densely populated, enclosed spaces such as medical institutions, smart manufacturing facilities, public transportation hubs, indoor parking facilities, and department stores. Innodisk’s “iCAP Air” air quality management solution represents a milestone for all businesses committed to leveraging technology for the greater good of air quality and society.
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