Market Research Report
Global Digital Transformation in Paints and Coatings, 2019
|Published by||Frost & Sullivan||Product code||918934|
|Published||Content info||60 Pages
Delivery time: 1-2 business days
|Global Digital Transformation in Paints and Coatings, 2019|
|Published: November 27, 2019||Content info: 60 Pages||
Digital Technology is Driving Enormous Change
Investment in digital technologies is currently booming across all industries, and the chemicals sector is no exception. In Frost & Sullivan's March 2018 report, Impact of Digitisation on the Chemical Industry, coating formulators were identified as the most likely to have a digital strategy. However, they put it to use in only a limited number of digital domains. Since then, the use of digital technology by coatings companies has accelerated. Leading coating formulators now have digital initiatives across all domains. The role of digital leadership, especially chief digital officers, is poised to explode through 2019 and 2020.
This report tracks the industry's transformation and seeks to identify future opportunities that might exist for further use of digital tech. Data monetisation in particular, will transform the coatings industry in the next 10 years. Successful companies will sell not just tins of paint, but also the attributes of the paint (protection, colour, etc.) as a service. In making this transformation, coatings companies will also identify entirely new potential customers, who could benefit from the data being generated.
The global coatings industry consists of a small number of large global participants and a very large number of smaller companies. The top 10 companies collectively represent 53% of the global coatings market. 8 of these 10 companies are pure coatings companies. The way in which digital technology will affect these companies will therefore be strongly influenced by the specific requirements of the coatings industry.
The findings in this report will be presented using the same 7 domains identified in the previous study. These domains are as follows:
In summary, this study will explore: