Australia Industrial Coatings Market Size, Share, and COVID-19 Impact Analysis, By Type (Epoxy Coatings, Polyurethane Coatings, Acrylic Coatings, and Alkyd Coatings), By Application (Protective Coatings, Decorative Coatings, and Functional Coatings), and Australia Industrial Coatings Market Insights, Industry Trend, Forecasts to 2033

Australia Industrial Coatings Market Insights Forecasts to 2033

• The Australia Industrial Coatings Market Size was valued at USD 1.53 Billion in 2023.
• The Australia Industrial Coatings Market Size is Growing at a CAGR of 4.56% from 2023 to 2033
• The Australia Industrial Coatings Market Size is Expected to Reach USD 2.39 Billion by 2033

The Australia Industrial Coatings Market Size is Anticipated to exceed USD 2.39 Billion by 2033, Growing at a CAGR of 4.56% from 2023 to 2033. The growing necessity for enterprises to adhere to safety and environmental regulations is driving a movement in the Australia industrial coatings market toward regulatory compliance, which is affecting coating formulation and application and changing market trends.

Market Overview

The industry centered on protective coatings utilized in a variety of industries, including manufacturing, automotive, aerospace, and construction, is known as the Australia industrial coatings market. Surface durability, corrosion resistance, chemical protection, and aesthetic appeal are all improved with these coatings. Infrastructure growth, technology breakthroughs, and rising demand for high-performance coatings are the main factors driving the Australia industrial coatings market. Industrial coatings that meet a variety of industry applications include epoxy, polyurethane, acrylic, and alkyd compositions. The expansion of the industrial coatings market in Australia is anticipated to be driven by rising corrosion coating use and protective coating demand. The adoption of coatings with low environmental impact is encouraged by initiatives such as the Industrial Chemicals Environmental Management Standard (IChEMS), which establishes guidelines for managing industrial chemicals. One of the major factors driving the industrial coatings market is the move towards sustainability. The Australia industrial coatings market is expanding as a result of manufacturers' search for coatings with improved resilience to a range of industrial environments.      

Report Coverage

This research report categorizes the market for the Australia industrial coatings market based on various segments and regions forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Australia industrial coatings market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Australia industrial coatings market.

Driving Factors

Industrial coatings that provide improved performance and protection are becoming more and more in demand as a result of the manufacturing industry in Australia undergoing significant technological breakthroughs and greater production capacity. Eco-friendly industrial coatings and other sustainable practices are being utilized by companies as a result of the Australian government's dedication to environmental preservation. The factors driving the growth of the Australian industrial coatings market include increasing construction and infrastructure development, improvements in manufacturing and industrial activities, environmental regulations and sustainable practices, and fluctuations in raw material prices.  

Restraining Factors

Strict environmental laws, rising operating and compliance expenses, and other factors are posing challenges for the Australian industrial coatings market.  Higher production costs and changes in the price of crude oil affect the profitability of producers and could affect prices for consumers in the Australian industrial coatings industry.   

Market Segmentation

The Australia industrial coatings market share is classified into type and application.  

• The epoxy coatings segment accounted for the largest share of the Australia industrial coatings market in 2023 and is anticipated to grow at a significant CAGR during the forecast period          

On the basis of type, the Australia industrial coatings market is divided into epoxy coatings, polyurethane coatings, acrylic coatings, and alkyd coatings. Among these, the epoxy coatings segment accounted for the largest share of the Australia industrial coatings market in 2023 and is anticipated to significant CAGR during the forecast period. Epoxy coatings are widely used in the mining, maritime, and infrastructure industries due to their exceptional chemical resistance, longevity, and versatility. 

• The protective coatings segment accounted for the largest share of the Australia industrial coatings market in 2023 and is anticipated to grow at a rapid pace during the projected period.    

On the basis of application, the Australia industrial coatings market is divided into protective coatings, decorative coatings, and functional coatings. Among these, the protective coatings segment accounted for the largest share of the Australia industrial coatings market in 2023 and is anticipated to grow at a rapid pace during the projected period. The powerful mining, oil and gas, and maritime industries, which demand superior corrosion protection and specific coating qualities, are the main factors contributing to driving the market.   

Competitive Analysis:  

The report offers the appropriate analysis of the key organizations/companies involved within the Australia industrial coatings market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Jotun Australia
• PPG Industries Australia
• Hempel Australia
• DuluxGroup
• Sherwin-Williams Australia.
• AkzoNobel Australia
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In January 2024, A new line of low-VOC, environmentally friendly industrial coatings was launched by Jotun Australia in response to the rising need for ecologically responsible and sustainable solutions in the manufacturing and construction industries. Australia is pushing for sustainability in industrial applications, and this product range is made to comply with the country's more stringent environmental laws.

Market Segment

This study forecasts revenue at Australia, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Australia industrial coatings market based on the below-mentioned segments:

Australia Industrial Coatings Market, By Type

• Epoxy Coatings
• Polyurethane Coatings
• Acrylic Coatings
• Alkyd Coatings

Australia Industrial Coatings Market, By Application

• Protective Coatings
• Decorative Coatings
• Functional Coatings