The Industrial Coatings Market

The market for industrial coatings was a mixed bag this past year. While economic uncertainly continued to impact the market, there were certain bright spots.

“The overall industrial coatings market grew by mid-single digits in 2012, but varied widely by sub-segment,” said Roeland Polet, senior vice president, global industrial for Valspar. “The end of 2012 was not as strong. It was marked by economic uncertainty and bumpy demand as macro decisions either on economic stimulus packages or austerity impacted infrastructure and equipment markets that are heavy consumers of industrial coatings. Nevertheless, many segments show strong drivers for growth in the coming quarters.”

“With the exception of the wind power generation industry that still faces a few challenges in U.S., China and Europe, the other segments performed well overall,” said Dimitris Likouressis, protective business director, group marketing, Hempel. “The oil and gas (O&G) segment maintains good growth especially in connection to the massive gas projects that take place currently in South East Asia, the unconventional O&G production in USA,