Coating Equipment Market: Global Major Key Players Research – Forecast To 2022
Posted: Mar 25, 2019
Market Research Future (MRFR) has announced a new release on the global coating equipment market. The report presents a thorough analysis of the global coating equipment market’s probable growth trajectory over the forecast period till 2022. The report also provides a detailed look at the global coating equipment market’s present statistics, including segmental and competitive hierarchy and leading market drivers and restraints. According to the report, the global coating equipment market is expected to rise to a valuation of USD 20 billion by 2022, exhibiting a solid 5% CAGR over the forecast period.
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Coating equipment is used to apply coatings onto a variety of substrates evenly and with minimum wastage of coating material. The global coating equipment market has been driven mainly by the growing demand for coatings of various kinds in industries and the increasing development of various types of coatings to enhance the function or appearance of various products. The utility of coatings in providing benefits in terms of aesthetic appeal and functional attributes is likely to drive their demand smoothly over the forecast period, in turn driving the global coating equipment market.
Coatings are substrates that can be applied to the surface of any object in order to enhance its function, appearance, or both. Increasingly in modern times, coatings that perform a dual function by enhancing both the look and function of a substance have become more popular in the global industrial sector and are likely to grow at a steady rate over the forecast period. The demand for enhanced output in all industrial sectors is likely to drive the demand for coatings over the forecast period, thus driving the demand from the coating equipment market.
The global coating equipment market is segmented on the basis of type, end use, and region.
By type, the global coating equipment market is segmented into liquid coating equipment, powder coating equipment, and specialty coating equipment. The powder coating equipment segment is likely to grow at the highest CAGR over the forecast period due to the growing popularity of powder coating in metal coating applications. Powder coatings have been shown to deliver the highest bang for buck in metalworking applications, which has driven their usage in a wide variety of industrial end uses.
By end use, the global coating equipment market is segmented into industrial, automotive, aerospace, and construction. The industrial end use segment is likely to remain the highest revenue generator over the forecast period, as the popularity of coatings in industrial activities is set to rise due to the growing awareness about their utility in enhancing the weather and chemical resistance of industrial equipment. In industries where exposure to intense heat or strong chemicals is common, coatings have emerged as a feasible solution, driving the demand from the coating equipment market. The automotive and construction industries are also likely to hold a strong share in the coating equipment market over the forecast period, as coatings have emerged as a key component in making both automotive components and architectural units more resistant to environmental contaminants.
The global coating equipment market is segmented by region into North America, Europe, Asia Pacific, and rest of the world.
Asia Pacific is likely to be the major regional segment of the global coating equipment market over the forecast period, as the rapid industrialization in APAC countries such as India and China has driven the demand for high-quality coatings to boost industrial performance. China is likely to lead the APAC regional market for coating equipment over the forecast period, as the pace of the Chinese industrial sector has grown higher than other countries in the region. The automotive and construction industries in Asia Pacific are also likely to emerge as major players in altering the dynamics of the coating equipment market in the region.
Leading players in the global coating equipment market include Nordson Corporation, Graco Inc., IHI Ionbond AG, SATA GmbH & Co. KG, O.C. Oerlikon, and Anest Iwata.
In January 2019, Kochek Company LLC announced the availability of its new chrome aluminum coating for all its products.
broad study of the different market segments and regions.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Mar