Coating Equipment Market Research Report - Global Forecast till 2030

Coating Equipment Market Research Report: Information, by Type (Liquid Coating Equipment, Powder Coating Equipment, and Specialty Coating Equipment), Industry Vertical (Automotive, Aerospace, Industrial, Construction, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World) & Forecast till 2030

ID: MRFR/IA - E/1588-HCR | February 2021 | Region: Global | 108 pages         

Coating Equipment Market

Coating Equipment Market Size is expected to cross USD $28 billion by 2028 at a CAGR of 5% during the forecast period 2021-2028

Segmentation

By Type Liquid Coating Equipment Powder Coating Equipment Specialty Coating Equipment
By Industry Vertical Automotive Aerospace Industrial Construction Others

Key Players

  • Nordson Corporation (US)
  • Anest Iwata (Japan)
  • Graco Inc. (US)
  • C. Oerlikon (Switzerland)
  • IHI Ionbond AG (Switzerland)
  • SATA GmbH & Co. KG. (Germany)
  • ASAHI SUNAC CORPORATION (Japan)
  • Wagner GmbH (Germany)
  • Carlisle Companies (US)
  • OC Oerlikon Management AG (Switzerland)

Drivers

  • Government focus to promote the use of eco-friendly coating
  • Growing need for replacement of existing coating systems
  • Increasing demand from automotive aviation and medical industries
  • Stringent environmental regulations
  • Government focus to promote the use of eco-friendly coating
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The coating equipment market is estimated to witness a CAGR of 5 % and a significant CAGR value in the forecast period from 2027 to 2030. The historical forecast data was valued at USD 17.3 billion in 2020.

Coating Equipment Market Overview


The coating equipment market is receiving great demand from different industrial verticals. The coating prevents and protects the surface against corrosion and other external damages. The growing infrastructure development due to the development of huge industries is thriving the demand of the coating equipment market.

The rising economic development in various regions and the growing urbanization in developed countries are prominent growth factors in the market. Moreover, the enhancement of the automotive sector is leading to market expansion. The demand from the end-users such as the medical industry, aerospace, aviation, and construction is enhancing the market’s growth.

The implementation and introduction of advanced technologies such as nanotechnology, IoT, and AI, in the coating segment, propels the market’s demand. Innovative and efficient technologies for wide applications like waste reduction and reliability are emerging. The government’s initiatives and the public’s concern for eco-friendly and highly sustainable coating let industrial players focus more on research and developments. This is leading to more developments. The higher investment of the players will drive the growth rate of the global coating equipment market.

Coating Equipment Market Competitive Landscape


The major global companies playing a key role in the coating equipment market are :


  • Nordson Corporation (US)

  • Anest Iwata (Japan)

  • Graco Inc. (US)

  • C. Oerlikon (Switzerland)

  • IHI Ionbond AG (Switzerland)

  • SATA GmbH & Co. KG. (Germany)

  • ASAHI SUNAC CORPORATION (Japan)

  • Wagner GmbH (Germany)

  • Carlisle Companies (US)

  • OC Oerlikon Management AG (Switzerland)


Recent Developments


  • April 2022 - Biocoat, Inc is a global manufacturer of various hydrophilic biomaterial coatings and medical equipment coating equipment. The company has declared its expansion to innovate its development, delivery, and design of the hydrophilic coating equipment. The company’s new equipment is called EMERSE. It offers an in-house dip coating system for medical devices and further completes the production.

  • April 2022 - Interpon Redox, a manufacturer of powder coatings from AkzoNobel, is helping HAGS, Europe’s foremost outdoor playground equipment manufacturer. It will protect its products based on cost and unsightly corrosion in coastal environments with high salt content.

  • September 2021 - Axalta coating system limited a leading paint company announced that it completed the acquisition of U-POL. U-POL was a leading producer of automotive refinishing products.


Coating Equipment Market Dynamics


Drivers

Rapid economic development and rising urbanization are the major growth-promoting factors. Additionally, the growth of heavy industries and the automotive sector are playing a vital role in the expansion of the global coating equipment market. The necessary need for coating on other subsidiary industries such as aviation, medical industry, aerospace, and construction, etc. is too generating the market demand.

The use of advanced technology in the coating is expected to propel market growth. The use of nanotechnology, IoT, AI, etc. in coating equipment is changing the face of paint coating. Newer and efficient technologies ensure proper application, reduces wastage, and are more reliable. Moreover, the continuous need to replace the existing coating system with a new one sustains the market demand.

Governments around the globe are taking steps to make the paint industry eco-friendly and sustainable. Therefore, increasing research and rising investments in eco-friendly coating brightens future market prospects. 

Restraints

The major hindrance to coating equipment is fluctuation in crude oil prices and the increasing cost of raw materials. Petroleum extracts are the important base material for making paints and coating materials, fluctuations in their price directly affect the coating equipment market. Lack of skilled labor to operate new coating equipment is too a major growth refraining factor.

Technology Analysis

Coating equipment is a machine that is used to apply a layer of covering (eg paint) on a surface.  The coating enhances durability and makes the product appealing. Moreover, it also prevents corrosion of metal surfaces and enhances their aesthetic value.  Coating equipment makes the process of coating faster and simpler. These machines ensure even distribution of coating material, proper drying, and optimum mixing of components.  

There are different types of coating equipment available in the market.  Thermal spray and layer cladding are among the major types. In thermal spray, the heated or melted materials are sprayed over the surface.  Whereas in layer cladding the coating material is first applied on the surface and then melts by heat into a thin layer to form a metallurgical bond with the surface. 

The coating has decorative as well as functional benefits. They give finishing smoothness to machines, walls, and products. Moreover, they prevent abrasion on any surface or any reaction with chemicals and weather elements.  Finally, a coating is essential to enhance the durability of a product.

Coating Equipment Market Segment Analysis


Segmentation of global coating Equipment Market,  by type


  • Liquid coating equipment

  • Powder coating equipment

  • Specialty coating equipment

  • Others


Specialty coating equipment is the dominating market segment. The high demand for specialty coating equipment from end-users is driving the market growth.  Specialty coatings are adhesive coatings used to improve the appearance of the material. These coatings are material-specific and offer several advantages.  Moreover, it is made to contain additives to suit a particular environment such as heat resistance in concrete floors, etc. 

However, the powder coating segment is the fastest-growing segment with a high CAGR. These coatings are best suited for application in metals. The rise in heavy industries and the automobile industry are the major contributing factors for its market growth.

Segmentation of global coating Equipment Market, by the end-user


  • Automotive

  • Medical

  • Aerospace

  • Industrial

  • Building & Construction

  • Marine

  • Electrical & Electronics

  • Others


Automotive Industry is the leading market segment. The rise in sales of automobiles is driving the market growth. The global automotive industry is growing at a high CAGR of around 5%. The extensive use of coatings in automobiles to protect the parts from corrosion and to enhance their look is the major growth-promoting factor. Moreover, the rising disposable income of people is increasing global vehicle sales.

Coating Equipment Market Regional Analysis


Asia-Pacific is the largest regional market for the Coating Equipment market. Rapid urbanization and economic development in this region are boosting the market growth. China is estimated to witness the highest CAGR over the forecast period and is also the largest regional market. This growth is due to a rise in demand for industrial equipment and other consumer goods. Moreover, high industrial growth in India, Indonesia is too a growth-promoting factor. North America is the second-largest market. A major part of market revenue in this region comes from the growing aerospace and defense sector. Moreover, technological advancements in coating equipment are expected to boost the market growth here. Europe is also showing phenomenal market growth. Development in the automotive sector especially in the electric vehicles market is the major growth booster. Moreover, the high disposable income of people with good spending on luxurious items is bolstering the market development in this region. The Middle East region is witnessing rapid urbanization and infrastructure development. This is, in turn, generating the demand for the coating equipment market here.
The different regional markets for the global coating equipment market are:


  • North America

    • US

    • Canada

    • Mexico



  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Rest of Europe



  • Asia-Pacific

    • China

    • India

    • Japan

    • Australia & New Zealand

    • Rest of Asia-Pacific



  • Rest of the world ( RoW )

    • The Middle East

    • Latin America




Coating Equipment Market Report Overview


This report provides an in-depth analysis of the coating equipment market in terms of current value and future forecast. It also brings into the limelight, the problems and prospects of the given market.

Moreover, technological analysis of the product will greatly help in decision-making. Furthermore, this report contains a detailed analysis of every segment of the given market for the current forecast period. This report has also highlighted the key players and the current developments in the coating equipment market. 

Covid 19 Analysis


Covid 19 had a severe impact on the global coating equipment market. As the growth of the coating equipment industry depends upon the proper functioning of other industries, it had to suffer a huge blow.  The estimated growth rate plummed to the ever low rates. The worst performance of the automobile and the infrastructure sector during the period was the major growth restricting factor.  Disruptions in the supply chain during the period also impacted the market severely.  However, the market is growing at a faster pace in the post-pandemic period. 

Study Objectives


This report aims to provide a complete overview of the coating equipment market. The specific objectives of this market report are given below:


  • To analyze and forecast the coating equipment market in terms of value and volume.

  • To provide information about the impact of covid 19 on the market growth.

  • To identify the problems and prospects of the Coating Equipment market.

  • To give details about the technological viability of the product

  • To provide an overview of the regional market and the potentially growing segments.

  • To identify the key players of the industry.


Intended Audience


This report will be beneficial for every stakeholder of the global coating equipment market such as :


  • Manufacturers of coating Equipment

  • Raw Material Suppliers for coating Industry

  • Distributors and suppliers

  • Research and Development organizations

  • End Users



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2025: USD 30 billion
  • 2030 : Significant value
  •   CAGR   5.5% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Type, Industry Vertical
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Nordson Corporation (US), Anest Iwata (Japan), Graco Inc. (US), O.C. Oerlikon (Switzerland), IHI Ionbond AG (Switzerland), SATA GmbH & Co. KG. (Germany), ASAHI SUNAC CORPORATION (Japan), J. Wagner GmbH (Germany), Carlisle Companies (US), and OC Oerlikon Management AG (Switzerland)
      Key Market Opportunities   Government focus to promote the use of eco-friendly coating
      Key Market Drivers

  • Growing need for replacement of existing coating systems
  • Increasing demand from automotive, aviation, and medical industries
  • Stringent environmental regulations


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    Frequently Asked Questions (FAQ) :

    Rapid infrastructure development and urbanization, need for coating in automotive, aviation and heavy industries are the major growth driving factors.

    The Asia Pacific is the largest regional coating equipment market. Rapid infrastructure development and the rate of urbanization are generating demand in this region.

    The automotive segment is expected to achieve the highest market value over the forecast period owing to the rise in the sale of automobiles.

    The major global companies playing a key role in the immunosuppressive drugs market are : ● Nordson Corporation (US) ● Anest Iwata (Japan) ● Graco Inc. (US) ● O.C. Oerlikon (Switzerland) ● IHI Ionbond AG (Switzerland) ● SATA GmbH & Co. KG. (Germany) ● ASAHI SUNAC CORPORATION (Japan) ● J. Wagner GmbH (Germany) ● Carlisle Companies (US) ● OC Oerlikon Management AG (Switzerland).