Coating Equipment Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1434
Coating Equipment Market size is expected to witness a surge in demand owing to increase in end use application in various industries including aerospace, automotive, industrial, transportation, and construction. Rise in automotive sales coupled with growing population, rapid boom of infrastructural industry and upsurging purchasing power of the consumers in emerging economies will boost the demand of coating equipment market growth.
Heavy machineries used in different industries employs various layering apparatus to provide tool resistance from corrosion, abrasion, rusting and wear & tear, which in turn increase the lifespan of these tools. Rise in industrialization in building and manufacturing industries in developing nations will upsurge coating equipment market. Growing application of heavy machines in manufacturing sector will also augment the market. Increase use of layering in household appliances, automobiles, and bicycle will ensure further product growth.
Covering is generally applied to the outer surface of the metal object protecting them from rusting, corrosion and other types of wear & tear. Layering can be used for functional as well as decorative purposes. Basic raw materials used in manufacturing the product are metals, plastics, rubber and electric circuit boards.
On the basis of its types, market is segmented into powder, liquid, and specialty covering equipment. Out of these machineries, powder covering equipment market is expected to witness high demands as it is preferred for being eco-friendly and emits less gases as compared to liquid or wet coating equipment. Stringent government regulations on environmental issues will boost the market acceptability of the coating equipment.
Coating equipment market is segmented on the basis of applications in various industries which include transportation and automobile, infrastructural and building industries, aerospace and manufacturing. Machine layering is increasing with rise in covering of metals including drum parts, automotive parts, house appliances and other music instruments which will drive the coating equipment market.
North America, led by the U.S. coating equipment market holds the major market share due to presence of high-tech and advanced industries in this region. Lack of time management to service machines has increased the coating equipment market demand to ensure a long-lasting life of these machines. Latin America, headed by Mexico is anticipated to show a significant growth in coating equipment market owing to increase in demand for packaging, industrial and OEMs in the region. Also, rapid growth of coverings in furniture and decoration industry in this region will also support the market growth.
Europe is expected to observe high demands due to developing consumption of coverings has matured with time. Improved government safety standards on eco-friendly products have increased the consumption of layering in architectural, furniture, marine and automotive sector. The region is dominated by Germany for being the centre of automotive industry due to growing demand of coating equipment market in numerous automobile parts to protect them from abrasion and wear & tear. Some of the well-known product consumers are Chevrolet, Mercedes-Benz, Skoda, and Volkswagen group. Marine industry will also play a vital role in fuelling the market owing to upsurge in demand of coverings on ships and yacht in this region.
Asia-Pacific holds the major market share due to growing demand of product market for various end use application in countries like China, Japan, and India. China, currently holds the largest market share in coating equipment market and will grow progressively in this region for the forecasted period India is also expected to evolve at fastest rate due to growing number of automotive and manufacturing industries. Rise in demand of industrial and consumer goods like TV, refrigerators, computers and cell phones will also drive market demand in the region. Several global competitors are focusing on emerging economies as the boom in industrialization & construction industries will grow the market size. Product consumption in small developing nations including Thailand, Indonesia, Malaysia, and Vietnam has been growing progressively in the region.
In Middle East and Africa, countries including UAE and Saudi Arabia has significantly diversified their markets from an oil based industry to a flourishing tourism based industry. Major players have invested in large-scale construction projects over last decade. Increasing construction and industrial activities in Qatar and Jordan is expected to foster the growth in high demands of the product Coating equipment market is growing strong and is predicted to have a considerable growth during the forecasted period.
Global coating equipment market is consolidated in nature owing to the presence of few key players at domestic as well as international levels. Some of the key player include SATA GmbH, IHI Ionbond Ag, Graco, Anest Iwata, Nordson, and O.C.Oerlikon.
In 2017, Nordson ASYMTEK, a sister company of Nordson Corporation Group, has developed a software “Easycoat 6” which provides accurate conformal layering with traceability and process control for conformal coating system. It allows to create conformal programs in an effective and easy way. It consists with several effective functions which allows to maximize productivity and enables precision. Increase in use of circuit boards in electronic & electrical industry will boost the coating equipment market in the forecasted period.
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