Global Coating Equipment Market Anticipated to Value Over USD 28.7 Billion by 2026 End

  • 23 Jul 2019

Global coating equipment market is anticipated to value over USD 28.7 billion by 2026 end and record a CAGR of over 5.6% during the forecast period 2019 to 2026.  

 A product is applied with a coating so that it improves the aesthetics and functionality of the product. Right from heavy machinery used in manufacturing factories to premium products like automobiles use coating. The advantages of applying a coating on the product are to make it resistant from abrasion, corrosion, wear & tear and rusting thus increasing the product lifespan. Therefore, there is an increase of demand for coating equipment across all industries which has been the driving force for the coating equipment market across the world. 

A rise in population has led to a rise in the sales of automobiles which has increased the demand for coating on automobiles which in turn boosts the coating equipment market globally. People from emerging economies are seeing an increase in spending capability. Along with that, the infrastructural industry is also booming. All these factors will increase the requirement of coating equipment which will let the coating equipment market expand even more during the forecast period. 

Insights on Global Coating Equipment Market:
North America, especially the U.S, dominate the global market and major reason for this dominance is the integration of advanced technologies by the industries in this region. Europe is also expected to see a rise in the market growth during the forecast period due to an increase in the consumption of layering in furniture, marine, automotive and architecture sector. The reason for this is an improvement in the safety standards on eco-friendly products. 

Germany dominates the Europe regional market as it is the hub for automotive industries and the demand for coating on automobile parts is on a rise. Skoda, Mercedes-Benz, Volkswagen are some of the well-known consumers of coating equipment product. Mexico is currently leading the Latin America market which is expected to witness significant growth in the market during the forecast period. Asia Pacific is a fast-growing market space due to rising demand for coating in industries set in countries like India, China and Japan. China currently accounts for a larger share in the coating equipment market and is expected to dominate during the forecast period as well. India is also an evolving market space for coating equipment market due to an increase in manufacturing and automobile industry and also consumer goods like cell phones, TV will further drive the coating equipment market. A booming construction industry in Middle East has also boosted the coating equipment market in the region and is expected to witness a rise during the forecast period as well. 

Powder coating dominates this market segment and is expected to do the same during the forecast period. Powder coating is eco-friendly and it produces less gas emissions as compared to wet or liquid coating which gives it an upper hand in the global market. 

Automotive & transportation industry is currently dominating the global market and is expected to stay consistent throughout the forecast period. An increase in population has increased the demand for automobiles and public transport in general which has also increased the coating equipment demand to apply coating on these vehicles for increasing their lifespan. The population rise has also boosted the civil industry which in turn helps the coating equipment market grow and this trend will also be observed during the forecast period. Manufacturing of heavy machinery required for the industrial sector also requires coating which further drives forward the coating equipment market. 

Nordson ASYMTEK, which is a sister company of Nordson Corp., developed a software “Easycoat 6” in 2017. It provides process control for conforming coating system and an accurate conformal layering along with traceability. It allows an effective and easy way to create conformal programs. This software will help them gain a good amount of traction in the global market during the forecast period.

Global Coating Equipment Market Segmentation:
1.    By Region

•    North America
•    Europe
•    Asia Pacific
•    Latin America
•    Middle East & Africa

2.    By Coating Type
•    Powder Coating
•    Liquid Coating
•    Speciality Coating

3.    By Industry Type
•    Automotive & Transportation
•    Civil
•    Aerospace
•    Industrial

Competitive Landscape:
•    Nordson Corp.
•    IHI Ionbond Ag.
•    Graco
•    Anest Iwata
•    O.C. Oerlikon

FutureWise Key Takeaways:
•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 

Objectives of the Study:
•    To provide with an exhaustive analysis on the global coating equipment market by region, by coating type, by industry type
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Middle East & Africa
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies 
  

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