Enhanced Lifespan of Industrial Equipment Encourages Utilization of Specialty Coatings

The utilization of specialty coatings is touted as the formidable solution for optimal protection and aesthetics of industrial and commercial commodities. The use of specialty paint systems such as corrosion-resistant primers and coatings aids in extending the life of steel structures that have been developed to abide with industrial environmental mandates and to offer improved performance durability.

What Are Specialty Coatings?

Specialty coatings are meant for distinctive end use, such as in the ornamental iron industry, the electrostatic industry, and the propane industry, to name a few. The capabilities of these coatings lie in meeting the basic function of a topcoat, primer, or self-priming coat, and to deliver additional performance as required in specific applications. Additional benefits offered by specialty coatings include fire resistance, antireflection properties, sealing, enhanced corrosion protection, substrate compatibility, temporary screening and marking, and adhesively joining products, among others. 

The assortment of specialty coatings, which includes a wide selection of shades and industrial OEM finishes, are suitable for both onsite and shop floor painting needs. By the base material used in specialty coatings, epoxy, polyamide, alkyd, and acrylic urethane, among others, are the segments into which the specialty coating market is divided. The large variety of specialty coatings is utilized across industries such as OEM paint, refineries, petrochemical, power, railway, fireproofing, marine, oil and gas, aerospace and defense, pipeline, pulp and paper, water and wastewater, and architecture.
 

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Specialty Coating Market –an Overview

In a recent study carried out by Transparency Market Research (TMR), analysts have charted the factors that will influence the growth of the specialty coating market in the coming years:

• The consistent growth of the paint and coating industry, which is expected to rise at a CAGR of above 5.0% from 2015 to 2020, will be beneficial for the specialty coating market. The use of paints and coatings for industrial applications such as machinery, protective coating, automotive, and marine is boosting demand for specialty coatings. 

• Specialty coatings are suitable for end uses such for water and wastewater treatment and piping systems, which are becoming increasingly important thanks to the ongoing rise in the global population. This will further open opportunities for growth of the specialty coating market. 

• Increasing demand for coating solutions with improved durability and rheological properties, and longer shelf life will boost demand for specialty coatings.

• In emerging economies, the burgeoning construction sector for both commercial and residential buildings will lead to the considerable growth of the specialty coating market.

• Asia Pacific will dominate the specialty coating market in the foreseeable future. The region, being a manufacturing hub for top-notch electronics and automotive companies, will exhibit high demand for specialty paint and coating solutions. The growth of these industries in the region is related to economic development resulting in increasing per capita income, leading to increased affordability of superior feature commodities.

• North America and Europe will exhibit moderate consumption of specialty coatings due to strict mandates to reduce carbon and VOC emissions that cause deterioration of the environment.