May 27 2014
Research and Markets has announced the addition of the "Global Industrial Coatings Market 2014-2018" report to their offering.
Many drivers are contributing to the growth of the Global Industrial Coatings market, the most important of which is the rapid development of infrastructure. Such developments are particularly high in developing countries, which consume a large share of industrial coatings for new infrastructure projects, when compared to developed countries, which consume a greater share of industrial coatings for maintenance and repair purposes.
The Global Industrial Coatings market is witnessing increasing demand from emerging economies such as India, China, Brazil, and the Commonwealth of Independent States. Rapid economic development in these countries, especially those in the APAC region, is expected to contribute to market growth. The resulting need for better infrastructure such as transport-related facilities, water, and wastewater networks are expected to be major drivers for the market. Also, the growth of commercial and industrial businesses in these countries has led to an increase in demand for industrial coatings for asset protection. In response to such an increasing demand, several vendors in the market have strengthened their supply chain network and set up new production facilities in Poland, Russia, India, China, and Brazil.
Further, the report states that one of the major challenges in the market is stringent laws and regulations governing the market, which require companies to comply with certain guidelines to ensure low environmental pollution. Such regulations are particularly high in developed regions, such as North America and Europe.