Global Coating Equipment Market Research Report: Information, by Type (Liquid Coating Equipment, Powder Coating Equipment, and Specialty Coating Equipment), Industry Vertical (Automotive, Aerospace, Industrial, Construction, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2025
Coating equipments are heavy machineries that are deployed by different industries to coat different items such as appliances, automobiles, and bicycles to protect them from abrasion, corrosion, wear & tear and rust. Coatings increase the lifespan of tools and have different purpose, decorative, functional or both. The global coating equipment market is projected to expand at a CAGR of approximately 5% and attain USD 20 Bn over the next couple of years, reveals a research report by Market Research Future (MRFR). The surge in demand for coating equipment can be attributed to rising demand for customized coating equipment in end-users industries, application in various industry verticals including construction, aerospace, automotive, and industrial. Also, rapid industrialization in building and manufacturing in developing nations aids in market growth. Growing use of layering in household appliances, automobiles, and other products coupled with increasing use of heavy machineries in the manufacturing sector will also augment the market for coating equipment. Developments in the agriculture sector in terms of machineries also provides growth opportunities for the market since machineries typically require coatings.
The shift in many industries towards the use of standardized coating equipment due to the availability of capital led by economic development in emerging countries has augmented the market for coating equipment. Coatings contain volatile organic compounds and rising environmental concerns relating to coatings have resulted in reduced use of solvent-based coatings in several countries which is impeding the market for coating equipment. This has, in turn, escalated the demand for powder coating equipment and is expected to drive the market for coating equipment. Moreover, R&D activities to develop advanced equipment also spur the growth of the market. Technological advancement such as sputtering and ion deposition in the equipment which provides high quality and precision is expected to drive the market. However, these advancements have resulted in high costs of installation and maintenance and are expected to restrict the growth of the market. The high cost of manufacturing coupled with the rise in the price of crude oil which is used as raw material in the coating process and other raw materials such as plastics, metal parts, electric components and electronic circuits are restraints to the market.
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The global coating equipment market has been segmented based on type, and end-user. By type, the market has been segmented into liquid coating equipment, powder coating equipment, and specialty coating equipment. By end-users, the market has been segmented into automotive, aerospace, industrial, and construction.
The principal markets of the global coating equipment market are North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). Asia-Pacific is foreseen to be the largest market for coating equipment owing to ongoing industrialization in the region and escalated demand for consumer appliances. Moreover, the region is attracting international market players for the setup of manufacturing units due to overall low operating costs and availability of comparatively cheap labor. China is the principal contributor in the region. North America market is also consolidated due to the presence of heavy industries in the region. Europe is a significant market due to the concentration of many prominent market players.
The global coating equipment market is highly competitive with the presence of few significant players. The key vendors operating in the market include Nordson Corporation (U.S.), Graco Inc. (U.S.), IHI Ionbond AG (Switzerland), SATA GmbH & Co. KG. (Germany), Anest Iwata (Japan), and O.C. Oerlikon (Switzerland).
Scope of Report
The report for the global coating equipment market of Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historic and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
- Coating equipment manufacturers
- Coating equipment distributors and suppliers
- State and national regulatory authorities
- Raw material suppliers
- Government and industry associations
- State or government-owned corporations
- Research organizations