Pune, India, March 02, 2022 (GLOBE NEWSWIRE) -- The Global Coating Equipment Market was estimated to value USD 20,425.98 Million in 2021 and is projected to grow at a CAGR of 6.92% during the forecast period, as per a recent comprehensive market study by Quince Market Insights. Coating is a type of covering which is used on a surface to increase its aesthetic properties or efficient. Paints is a vital type of coating. There is a wide range of applications in which paints are utilized, for example in industrial, automotive, building and construction, utility, marine, medical, electrical and electronics, and oil & gas sectors.
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Electric vehicles are one of the vital users of coating equipment. Coatings plays a crucial role with in the shielding of the substrates of electrical vehicles and its various parts from rust and other harms. It also plays a remarkable role in imparting aesthetic characteristics to electric vehicles. The increasing use of coatings and coated electronic devices used in electric vehicles is another major factor which is driving the demand of coating equipment.
Technological advancement in coating equipment are helpful in order to achieve long-lasting and faster coating processes. The powder coating equipment market is driven by the expansion and development of tribo guns. One coating manufacturer has developed a new coating that can eliminate debris build-up and minimize air drag. The expansion and development of such new technology offers opportunities for market players to expand their market in new applications.
The use of advanced coating equipment in all applications is not possible to be in budget. The choice of coating materials and the process for application is an important factor while considering the cost of equipment. For applications involving less stiff description and low volumes, the use of high-end coating equipment may not be a reasonable option. Conventional equipment such as rollers and brushes are of low-cost and are favoured in some application over other equipment. Therefore, the availability of low-cost alternative is a hinder in the coating equipment market in some applications.
Major Developments in the Global Coating Equipment Market:
- In October 2019, Alltimes Coatings Ltd announced the launch of Advantage Graphene liquid coatings roofing system which will enhance the performance while provides cost effective solution due to their excellent corrosion resistant performance.
- In February 2020, Dow Inc. The company had announced the expansion of Canada based ethylene production facility by 130 kilotons.
COVID-19 Impact on Global Coating Equipment Market:
Owing to COVID-19 pandemic, disruption of supply chain, suspension of manufacturing operation, and declining demand for industrial goods had remarkable impact on the market. However, because of COVID-19 pandemic, the demand for pharmaceutical industry goods has uplifted which in turn have supported for the growth of coating equipment market. At the same time, owing to anxiety, people stock the hygiene products worldwide that drives the market. However, the end-use industries like foam and footwear were affected by the pandemic.
Segmentation:
By Type:
On the basis of type, the Global Coating Equipment Market is categorized into Powder Coating Equipment, Liquid Coating Equipment, Specialty Coating Equipment. Specialty Coating hold the largest market share during the projected period. The demand for reliable and long life protective coatings is on the rise owing to the use of coatings in different applications including hazardous industrial equipment and high risk. Which in turn drive the market for coating equipment.
By End Use Industry
On the basis of End Use Industry, the Global Coating Equipment Market is bifurcated into Automotive & Transportation, Aerospace, Industrial, Building & Infrastructure. Automotive Industry is the leading market and hold the largest market share during the projected period. The rise in sales of automobiles is driving the market growth. The extensive use of coatings in automobiles to protect the parts from corrosion as well as to enhance their look is the major growth-promoting factor. Furthermore, the increasing disposable income of people is also increasing global vehicle sales.
By Material
On the basis of material, the Global Coating Equipment Market is bifurcated into polyester, polyurethane, acrylic, PVC, epoxy, silicon. Among these acrylic hold the largest market share during the projected period. Acrylics are used in a broad range of applications in paints & coatings industry, right from architectural coatings to the industrial coatings. Acrylic shows photochemical resistance, good chemical, good colors and gloss retention properties which are cost efficient, easy to handle, and exhibit superior performance in a wide range of applications like wall coating, roof coating, interior and exterior paints, and others.
By Application
On the basis of application, the Global Coating Equipment Market is bifurcated into brushed, dipped or sprayed, diffusion, laser processing, plating, thermal spray, vapor diffusion. Brushed, dipped or sprayed holds the largest market share in terms of revenue during the projected period owing to protect them from degradation & corrosion and extend their effective lives with reduced maintenance and parts replacement costs. Equipment coating can also help in the restoration of refurbished equipment to the quality that is almost equal to their original condition.
By Distribution Channel
On the basis of distribution channel, the Global Coating Equipment Market is categorized into wholesale and distribution business, retail distribution channel. The retail channel is holding the largest market share owing to population's usability and easiness to purchase.
Wholesale delivery has also moved to electronic channels which have linked retailers from around the world and meet customer’s need.
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By Region
On the basis of region, the Global Coating Equipment Market is bifurcated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia pacific is projected to be the fastest-growing coating equipment market during the projected period. industrial development, high population growth, increase in demand for automobiles, and growing demand for coatings with better efficiency in the region is driving the Coating Equipment Market.
Some Major Findings of the Outdoor Power Equipment Market Include:
- Major global market trend and forecasts analysis along with a country-specific market analysis for up to 25 countries
- An in-depth global vision care market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global vision care market, which include Coopervision, Essilor Group, Johnson & Johnson, Luxottica, Novartis, Valeant Pharmaceuticals, Bausch and Lomb, Menicon, Paragon Vision Sciences, and Carl Zeiss
- Competitive benchmarking, product offering details, growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions that include analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global market
- Impact of COVID-19 on the global vision care market
Browse key industry insights spread across 160 pages with 85 market data tables and 41 figures & charts from the report, “Global Coating Equipment”, By Type (Powder coating equipment, Liquid coating equipment, Specialty coating equipment), By End-user (Automotive & Transportation, Aerospace, Industrial, Building & Infrastructure), By Material (Polyester, Polyurethane, Acrylic, PVC, Epoxy, Silicon), By Applications (Brushed, dipped or sprayed, Diffusion, Laser Processing, Plating, Thermal Spray, Vapor Diposition), By Distribution Channel (Wholesale and Distributor Business, Retail Distribution Channel), and By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting To 2030, in-depth analysis along with the table of contents (ToC).
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