Global Coating Equipment Market was valued at US$ 20.05 Bn in 2017 and is expected to reach US$ 32.88 Bn by 2026, at a CAGR of 6.38 % during a forecast period. The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Coating Equipment market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focus on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies and regional presence. The report also provide PEST analysis, PORTER’s analysis, SWOT analysis to address question of shareholders to prioritizing the efforts and investment in near future to emerging segment in Coating Equipment market. Coating is a substrate which is applied on a surface of any object to improve its functional or aesthetic properties. Paints are used in a variety of applications in automotive, medical, electrical & electronics, utility, industrial, building & construction, marine, and oil & gas sectors. Coatings are used in all kinds of substrates including polymers, glasses, metals, and ceramics. The use of coatings is increasing globally, as key players are adopting a prevention-based approach in order to drop the costs incurred by rusting of equipment. A various techniques to apply coatings on a substrate, which use different equipment, are available in the market. Rising consumption of coatings across the world is likely to, in turn, increase the demand for coating equipment in the forecast period. Increasing demand from growing end-use industries, and need for replacement of existing coating systems are the major driving factor for the growth of the market. While availability of low-cost alternatives for some applications acts as a restraining factor for the growth of the market. Development of cheaper equipment for coatings will be the challenges to grow the market in the forecast period. Based on type, powder coating accounted for the largest share of Coating Equipment market and also expected to be dominant through the forecast period. Moreover, increasing investment in the construction sector and aerospace sector are predicted to drive the growth of the market. Furthermore, increasing demand for powder coating from end-use industries such as automotive, general industrial, appliances, architectural, furniture, and other applications are expected to fuel the growth of the market.
Based on End User, Aerospace represent the bulk of the demand for Coating Equipment in the market during the forecast period. Strong demand in automotive, home appliances, and architectural End Users will boost the powder coating segment demand over the forecast period. Rising automotive production in developing regions accompanied by the ease in product availability will boost the market. Rising demand for coatings in the aerospace industry are used for enhancing the performance and protect the substrates of aircraft components.The aerospace sector includes commercial, military, and general aviation segments. Geographically, Asia Pacific is a develop market, followed by North America. The demand in the area is high due to the presence and development of end-use industries for the product. The shifting of manufacturing plants from North America and Europe to APAC drives the growth of Coating Equipment market during the forecast period. Globally, U.S., China, India, and Germany are the largest consumers of Coating Equipment. Furthermore, growing purchasing power, ease of availability of cost-efficient raw material & labor, stringent regulatory framework are some other key factors for the regional Coating Equipment market growth during the forecast period. North America shows a moderate growth in the region for the Coating Equipment market.
Scope of Global Coating Equipment Market:
Global Coating Equipment Market, by Type:
• Liquid Coating • Powder Coating • Specialty Coating
Global Coating Equipment Market, by End User:
• Automotive & Transportation • Aerospace • Industrial • Building & Infrastructure • Other
Global Coating Equipment Market, by Region:
• North America • Europe • Middle East & Africa • Asia Pacific
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Report Published by: Maximize Market Research