Global Digital Transformation in Paints and Coatings, 2019

Global Digital Transformation in Paints and Coatings, 2019

Digital Technology is Driving Enormous Change

RELEASE DATE
27-Nov-2019
REGION
Global
Research Code: MF21-01-00-00-00
SKU: CM01732-GL-MR_23831

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Description

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:
• Digital Innovation investigates the use of digital technology in research and development and new product innovation.
• Digital Sourcing tracks the use of digital technology in the process of finding and procuring raw materials.
• Digital Business Models covers strategies designed to make a company’s general business processes more digitalised.
• Digital Plant looks at how coating plants themselves can benefit from digital technology.
• Digital Product investigates the potential for physical coatings (as a product) to be complemented by a digital offering.
• Digital Customers looks at how digital transformation within the key coating end-markets (customers) is transforming their demand for coatings.
• Digital Marketing tracks the use of digital technology in marketing products to potential customers.

In summary, this study will explore:
• The enabling technologies behind digital transformation
• Current activity amongst coating formulators and raw materials suppliers in the 7 digital domains
• Future scenarios for coatings in an increasingly digital world

Author: Brian Balmer

Table of Contents

Key Findings

Domains of Digitalisation

Case Study

Introduction

7 Domains of Digitalisation

The Coatings Industry

Drawing Parallels with Other Major Trends in Coatings

Drawing Parallels with Other Major Trends in Coatings (continued)

Top Enabling Technologies

Top Enabling Technologies (continued)

Digital Innovation

Digital Innovation—Formulation Technology

Digital Innovation—Case Study

Digital Sourcing

Digital Sourcing—Case Study

Digital Plant

Digital Plant—Case Studies

Digital Business Models

Digital Business Models (continued)

Digital Products

Digital Products (continued)

Digital Customers

Digital Customers (continued)

Digital Marketing

Digital Marketing (continued)

Digital Marketing (continued)

Digital Marketing (continued)

Digital Domains as a Model

Domains of Digital Activity

Digital Transformation—Top Coatings Companies

Interconnectedness of Digital Domains

Link between Digital Transformation and Other Industry Trends

Predictions for the Future

Conclusions

Growth Opportunity 1—Data Monetisation

Growth Opportunity 2—Connected Operations

Strategic Imperatives for Success and Growth

The Last Word—3 Big Predictions

Legal Disclaimer

Frost & Sullivan can Support Clients in All Aspects of Digital Transformation

List of Exhibits

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
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 53Percentage 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: • Digital Innovation investigates the use of digital technology in research and development and new product innovation. • Digital Sourcing tracks the use of digital technology in the process of finding and procuring raw materials. • Digital Business Models covers strategies designed to make a company’s general business processes more digitalised. • Digital Plant looks at how coating plants themselves can benefit from digital technology. • Digital Product investigates the potential for physical coatings (as a product) to be complemented by a digital offering. • Digital Customers looks at how digital transformation within the key coating end-markets (customers) is transforming their demand for coatings. • Digital Marketing tracks the use of digital technology in marketing products to potential customers. In summary, this study will explore: • The enabling technologies behind digital transformation • Current activity amongst coating formulators and raw materials suppliers in the 7 digital domains • Future scenarios for coatings in an increasingly digital world Author: Brian Balmer
More Information
No Index No
Podcast No
Author Brian Balmer
Industries Chemicals and Materials
WIP Number MF21-01-00-00-00
Is Prebook No
GPS Codes 9100-A2,9869-A2,9938-A2,9595,9870,9B07-C1