And its time again to paint the pipes!

11:44 AM, 8th October 2021

In the last couple of years the industrial coatings market took a back seat with the slowdown in economic activities. As the transportation and industrial infrastructure & maintenance plans got restricted, the industrial coatings segment too felt the ripple effect of it. Now with the global markets opening up, it is suggested that the segment will again see positive momentum. The automotive sector is set to provide the necessary opportunity for the growth of the industrial coatings. And for the industrial coatings segment, not only the color preferences, features such as long lasting paints, aesthetic appeal and non-toxic & environment-friendly coatings are being most sought after.

Coatings are most important for manufacturing as it protects the surface from corrosion, general wear & tear, chemical reactions, development of algal blooms, water resistance, durability, abrasion resistance among others.

Further, considering the global automotive ecosystem chemical companies have long played a critical role in the sector. Herein, the growing shift towards eMobility and electric vehicles (EVs) could threaten this strong position unless chemical companies move quickly to adapt their business models, partnerships and product range to cater to the EVs. 

As countries will focus heavily on sustainable and cleaner energy & transportation systems, there will be more demand for EVs. This will definitely boost demand for newer chemicals and materials that will be required specifically to suit the needs of the Evs. Already, suited for the electric vehicles, the demand for lightweight materials and vehicle interior design enhancements have led to the increased use of improved plastic compounds. These new materials have replaced usage of metals in many areas of the vehicle parts manufacturing. All in all the scope of EVs is expanding at a fast pace.

Considering the opportunity for the chemical industry, India is working towards becoming a $5 trillion economy. This long-term optimistic scenario bodes well for the industry. Further, while the global trends suggest uncertainty for the world, this could open up near-term opportunities in India. In addition to this the rising domestic demand will support growth of the chemical companies, as per industry reports.

Several global oil & gas majors are turning their sights on downstream chemical opportunities. This may increase the focus on petrochemicals in India and boost self-sufficiency.

Moreover, industry-wide, there seems to be a move toward prioritization of core businesses and consolidation on a greater scale, often through big-ticket mergers and acquisitions. For players in India, scale will matter even more, as it could help to fortify their competitive advantage.

For suggestions or feedback write to editorial@worldofchemicals.com

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


New Digital Pressure Gauge with intrinsic safety and Reliable consistency

Companies use pressure relief or safety valves to protect equipment from pressure spikes. Because of their importance, checking or calibrating these v ...

Read more
AkzoNobel launches hull management system for marine industry

AMSTERDAM, NETHERLANDS: Ship owners can now make unrivalled fuel and emission savings after AkzoNobel's International brand launched the marine indust ...

Read more
AkzoNobel launches hull management system for marine industry

AMSTERDAM, NETHERLANDS: Ship owners can now make unrivalled fuel and emission savings after AkzoNobel's International brand launched the marine indust ...

Read more
Kemira opens new R&D center in Shanghai, China

HELSINKI, FINLAND: Kemira Oyj, a sustainable chemical solutions company for water intensive industries, opens its new APAC R&D center in Pujiang T ...

Read more
Yara, JERA, Idemitsu Kosan form clean-ammonia collaboration in Japan

OSLO, NORWAY: Yara International ASA, the global ammonia player, said it has signed a memorandum of understanding (MoU) with JERA Co Inc, Japan’ ...

Read more
Verdant to acquire Baze Chemical to expand surfactants portfolio in US

HOUSTON, US: Verdant Specialty Solutions, a global specialty chemical company, announced its acquisition of Baze Chemical to expand its manufacturing ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X