The Industrial Coatings Market

The industrial coatings market is comprised of a number of diverse segments, such as offshore oil and gas, commercial architecture, general industrial and industrial maintenance. According to Chemark Consulting, industrial coatings comprised 35.41 percent of total coatings consumption globally for 2013.

Industrial coatings manufacturers are reporting that oil and gas and general maintenance segments are key areas with the most growth potential.

Looking across all protective segments, Klaus Møller, group VP, group protective marketing  for Hempel said the market for industrial coatings grew by two to three percent in 2013. “There is a surge in upstream O&G possibilities with high offshore construction activity and growing needs in the unconventional arena,” he added. “Civil structures grow in all developing markets and so does power generation needs, resulting in good growth rates globally in these segments.”

Anders Voldsgaard Clausen, group segment marketing manager at Hempel said there was stable growth rates of five to eight percent per year in the power generation segment. He said the most opportu