Pune, India, January 15, 2018/MRFR Press Release/- Market Research Future published a Half Cooked Research Report on “Global E-Coating Market Research Report - Forecast to 2030”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2030.
The E-Coat market industry is projected to grow from USD 1.98 Billion in 2023 to USD 5.42 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.5% during the forecast period (2023 - 2030).
Ad-Tech Industries Inc., Axalta Coating Systems, Nippon Paint Holdings, Beacon Industries, Inc., BASF SE, PPG Industries, KCC Corporation, Valspar Corporation, Noroo Paint & Coatings, Hawking Electrotechnology among others are some of the prominent players at the forefront of competition in the Global E-Coating Market and are profiled in MRFR Analysis.
E-Coating Market – Overview:
Apart from the aesthetic aspects, the e-coat needs to be protected against mechanical, physical and chemical attack is the reason why we coat the vehicles by means of electrocoating technology. There are verity of demands on e-coatings. The demand for materials for exterior application are different to those for products for interior applications. To fulfil this demand, several types of binders and additives are available. Furthermore, the application technology used depends on both the binder and the market. Improvement in sustainability, reduction of harmful substances and reduction of volatile organic compounds (VOC) are some of the general trends as per the requirement and regulations in global e-coat market. The relative importance of the various trends in e coat market depends on the governmental regulations in regions and on consumer need.
The growth in the e-coat industry is primarily be driven by a boom in residential construction activity in the world and growing automotive industry in the Asia Pacific region. In addition to this, increasing spending capacity of people in turn is expected to benefits the major applications in which e-coatings and preservatives are used – namely metals like steel, aluminium, titanium among others.
Industry/ Innovation/ Related News:
January 2016 – PPG marks completion of $20 million electrocoat center at zhangjiagang, china, facility. The new 37,500-square-foot (nearly 3,500 square meters) center adds production and blending capacity for high-performance cathodic electrocoat (e-coat) coatings. It is PPG’s second e-coat blending operation in China along with one in Tianjin. The new operation is expected to help PPG meet growing demand by automotive-manufacturing and industrial customers for environmentally friendly coatings, such as waterborne e-coat products that comply with environmental regulations in China. PPG was the first company to introduce electrocoat technology commercially in an automotive OEM (original equipment manufacturer) assembly plant 52 years ago. E-coat technology offers high coating uniformity and efficiency as well as superior corrosion protection, and it has virtually eliminated rust on vehicles in addition to providing corrosion resistance to household appliances, computers and other electronic devices, and automotive and mechanical parts.
November 2015 – Parker Trutec Inc. has announced that the Urbana, Ohio, facility will construct a 57,000-square-foot building expansion. This expansion is expected to add a third electrocoating line to the coatings application facility located at 4795 Upper Valley Pike. This new electrocoating process line addition compliments the other electrocoat lines that are already in place at Parker Trutec and is expected to launch mass production by second quarter 2017. The total project cost will exceed $8.0 million.
June 2017 – BASF invests USD40 million in automotive coatings in North America. Increased waterborne base e-coat capacity in Tultitlan and electrocoat emulsion capacity in Greenville enables BASF to continue to drive innovation through production of state-of-the-art automotive coatings. Waterborne basecoats are low volatile organic compound paint products that give vehicles their color and electrocoat or e-coat is the primer coat applied to vehicles to prevent corrosion.
E-Coating Market -
Regional Analysis
:
Asia Pacific region accounted largest market share in the global e-coat market and expected to dominate during the forecast period due to rising population, automotive and growing residential and non-residential activities in the region. China being largest consumer, manufacturer and exporter of e-coating. Chinese manufacturers are mostly small manufacturers and some of the prominent manufacturers. India is the second largest consumer in Asia Pacific region. Several initiatives taken by Government of India will support the growth of coating industry in India. One of such initiative is 'Make in India'. This initiative is expected to foster growth in Indian e-coat market by allowing duty rationalization for skill development, feedstock, improving infrastructure and tax incentives for R&D investments. Approval of the GST bill is another key reform which is expected to lower logistics cost by 10-15% and create a unified market across the country. The launch of Single Window Interface for Facilitating Trade (SWIFT) by government would help importers or exporters to file a common integrated declaration, instead of 9 forms across 6 agencies. In addition to this, North America & Europe have witnessed healthy growth in e-coating market owing to a growing non-residential repair, renovation and new construction activities in the region.
Competitive Landscape:
The report analyses the degree of competition among the industry players as well as industry growth and market scenario. The global e-coating market is at a growing stage, which represents moderate stats in terms of market value and overall volume. Over the past few years, e-coating market has witnessed healthy demand due to increasing spending capacity of people which has stoked sales of furniture. Nevertheless, the degree of competition among the market players is still less owing to limited major market players across the globe. Globally market for e-coating is fragmented and it is moving towards growth expansion by specifically adopting partnership, expansion and joint-venture strategies and product launch strategies.
Read more - E-Coat Market Size
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Report details
| Base Year | 2016 |
| Companies Covered | 15 |
| Pages | 136 |
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