Cathodic Acrylic Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4346
Cathodic Acrylic Market size is expected to rise exponentially in the coming years due to increasing demand from automotive and construction industry across the world. The product is a form of electrocoating that offers best combination of color control, exterior durability, and corrosion resistance for various applications. These coatings are mostly available in wide range of colors and gloss selections, that is extensively used for exterior finishes as well as sections that require a decorative appearance. Beside this, specialty coatings also offer UV durability and resistance to corrosion, while retaining their original appearance in all weather conditions. This in turn increases cathodic acrylic market demand for decorative coating applications. Moreover, its excellent color retention and inertness when exposed to outdoor conditions, will fuel the market growth in the coming years. Furthermore, rising disposable incomes coupled with rapid urbanization globally will further augment product market for aesthetically appealing coats in various sector, this will drive its demand during the forecast spell.
The demand for cathodic acrylic market in recent years has increased due to its growing usage in automotive and industrial manufacturing applications. The product offers a unique property i.e., corrosion resistant primer with UV durability, which finds extensive usage in automotive industry for various coating applications. Beside this, it also offers good chip resistance and excellent throw power, which increase their ability to plate to a uniform thickness over an irregularly shaped cathode. Additionally, it generates excellent hardness and chemical or solvent resistance without the usage of high solvents and heavy metals, which makes is suitable for various industrial appliances. Furthermore, growing demand for coatings in furniture, construction, metal fabrication, plastic and coil based applications will further create immense potential for cathodic acrylic market in the near future. In addition, rising use of powder coatings in consumer goods, and architecture, furniture will further augment the product market globally.
Based on application, the cathodic acrylic market is classified into agricultural implements, garden equipment, automotive parts & accessories, heavy-duty equipment and others equipment, which mainly includes marine, furniture, etc. Rising demand of automotive parts and accessories in the sector will drive the usage of the product for electrocoating applications. Moreover, its excellent corrosion protection and UV durability, will propel its usage for various end-use applications in the coming years. Likewise, growing usage of cathodic acrylic in coating exterior HVAC and heavy-duty equipment will positively influence product market size in the near future.
On the basis of end-use sector, the market is categorized into automotive, manufacturing, construction, and consumer goods sector. These electrocoating offers an exclusive range of colors & glosses and also provides both corrosion protection & exterior weathering, which increases its demand in various end-use industries. Moreover, rising electrocoating demand in manufacturing and construction industry will further expand product market size in the forecast timeframe.
Asia Pacific region is projected to hold a major share in the global cathodic acrylic market soon. This is all owing to an established center for various end-use sectors, such as automotive, manufacturing, construction and consumer goods. Moreover, growing demand of product for electrocoating applications in several end-use sectors such as automobiles, manufacturing and other industries will swell its demand across the region. Additionally, its high performance abilities allow coating in a one-coat finish that assures minimal costs in production, which will further drive its usage in the region. Being environmentally friendly in nature the product yield excellent hardness, which will increase its demand for several electrocoating applications that find wide usage various end-use sectors, this in turn will propel the product market size by 2025.
Key product manufactures in the market are BASF SE, Hawking Electrotechnology Ltd., Axalta Coating Systems, Valspar Corp., KCC Corporation, Luvata OY, Metokote Corporation, Inc., PPG Industries Inc, Koch Membrane Systems Inc, Nippon Paint Holdings Co., etc.
By Application, 2014-2025
- Agricultural implements
- Automotive parts & accessories
- Heavy-duty equipment
- Garden equipment
By End-use Sector, 2014-2025
- Consumer goods
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- South Africa
- BASF SE
- Hawking Electrotechnology Ltd.
- Axalta Coating Systems
- Valspar Corp.
- KCC Corporation
- Luvata OY
- Metokote Corporation, Inc.
- PPG Industries Inc
- Koch Membrane Systems Inc
- Nippon Paint Holdings Co.
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