Growing industrialisation has given an impetus to the coatings industry to reinvent itself with innovation. With the market demanding more from a coat of paint, coating specialists have begun redefining the entire coating process for the industry.
By Debarati Das
The global coatings industry is witnessing a robust growth despite the various uncertainties that revolve around the industry. According to Research and Markets report, the global demand for industrial coatings is projected to touch $105.5 billion by 2022, growing at a rate compounded annually at 6.1 percent between 2016 and 2022.
While the industry is growing at a healthy pace in most parts of the world, Asia-Pacific will remain to be one of the strongest contenders in this segment by being the largest and the fastest growing market in terms of both volumes and value.
The industrial coatings industry is majorly dominated by the automotive industry which technological advancements and market demand have taken innovation in this segment to the hilt. Automotive coatings are poised to grow at the compounded annual rate of 6.6 percent and reach a projected 3.3 billion litres by 2022, compared to a forecast 2.2 billion litres in 2016.
Apart from this, the growth of industrial coatings can be further attributed to the extensive range of application areas like architectural steel, automobiles and other transportation media, oil and offshore structures, wood furniture and fixtures etc.
Some of the technological trends revolve around better grade coatings for protection from the attacks by chemicals, water, corrosion and the environment so that industrial coatings can withstand the most severe conditions.
Changing governmental regulations and various environmental legislations across the globe has further compelled coatings manufacturers to develop durable coatings which are environment friendly. Manufacturers are constantly rethinking of better ways to bring up better grade coatings to suit the needs and demands of the industry.
Trend Tracker
Diversifying technology: the Industrial coating is not just about automotive. The industry is going beyond and looking for opportunities in areas which can show potential growth. One such area is a marine coating which has seen increased demand due to rising commercial shipping activities. In this segment, new technologies that maximise performance features are in high demand - for eg: the need for high-performance epoxy resins and polymers tailored for the formulation of coatings with the ability to resist corrosion under extreme temperatures and pressures and when exposed to chemicals and impacts. Such coatings are beneficial in tanker ships, marine cables, etc. These technologies are also used in other industrial settings. Speciality coatings with antimicrobial and soundproofing properties have also witnessed greater demand in these segments.
Off late, electronic materials market has also begun exploring the coatings technology. New types of coatings, like, urethane coat, are increasingly being used to give stain-resistance, soft and luxurious feel for plastic and mixed-material finishes.
Eco-friendly Innovation: Rising concern about the environment has given rise to stringent regulations which have changed the dynamics of the coatings industry. Manufacturers are focusing on incorporating environmental safety in the entire value chain. Additional stress is being put on low-emissions and low-VOC content in industrial coatings. This has led to a shift in coating technologies from low-solids, solvent-based coatings to high solids solvent bore and waterborne technologies.
Many countries have also begun emphasising on chemical mixtures in coating formulations by forming new allergen label to keep a check on health hazards like skin sensitisation. This has had an impact on the use of biocides in coatings.
Multifunctional Coatings: Latest innovations and technologies focus on coatings with increased functionality. Hence, industrial coatings are not just a layer of colour for beautification and protection but can now also reduce heat transfer in industrial process applications, provide chemical resistance, UV weathering, etc. Manufacturers are also focusing on making coating process easier and quicker with minimum labour and maintenance. The automotive industry is also making the most of the self-healing technology in coatings that make for more corrosion and impact resistance in cars.
The use of coatings in industrial applications is vast and the industry is constantly innovating itself to broaden its hemisphere with new technological advancements making a single coat of high-quality coating a worthwhile investment.
© Coatings Special by Chemical Today magazine
Read More: Tracking trends of industrial coatings industry
No comments:
Post a Comment