1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining power of buyers
4.1.3 Threat of substitutes
4.1.4 Segment rivalry
4.2 Value Chain/Supply Chain of Global E-Coat Market
5 Industry Overview of Global E-Coat Market
5.2 Growth Drivers
5.3 Impact analysis
5.4 Market Challenges
5.5 Impact analysis
6 Market Trends
6.2 Growth Trends
6.3 Impact analysis
7. Global E-Coat Market by Region
8. Global E-Coat Market by Product Type (Anodic E-Coat and Cathodic E-Coat)
9. Global E-Coat Market by Application (Personal Vehicles, Commercial Vehicles, Automotive Accessories, Heavy Vehicles and Others)
10. Company Profiles
10.1 Ad-Tech Industries Inc
10.1.3 Product Portfolio
10.1.4 Business Strategies
10.1.5 Recent Development
10.2 Axalta Coating Systems
10.2.3 Product Portfolio
10.2.4 Business Strategies
10.2.5 Recent Development
10.3 Nippon Paint Holdings
10.3.3 Product Portfolio
10.3.4 Business Strategies
10.3.5 Recent Development
10.4 Beacon Industries, Inc
10.4.3 Product Portfolio
10.4.4 Business Strategies
10.4.5 Recent Development
10.5 BASF SE
10.5.3 Product Portfolio
10.5.4 Business Strategies
10.5.5 Recent Development
10.6 PPG Industries
10.6.3 Product Portfolio
10.6.4 Business Strategies
10.6.5 Recent Development
10.7 KCC Corporation
10.7.3 Product Portfolio
10.7.4 Business Strategies
10.7.5 Recent Development
10.8 Valspar Corporation
10.8.3 Product Portfolio
10.8.4 Business Strategies
10.8.5 Recent Development
10.9 Noroo Paint & Coatings
10.9.3 Product Portfolio
10.9.4 Business Strategies
10.9.5 Recent Development
10.10 Hawking Electrotechnology
10.10.3 Product Portfolio
10.10.4 Recent Development
LIST OF TABLES
Table 1 World Population By Major Regions (2020 To 2027) (Million)
Table 2 Global E-Coat Market: By Region, 2020-2027 (Usd Million)
Table 3 North America E-Coat Market: By Country, 2020-2027 (Usd Million)
Table 4 Europe E-Coat Market: By Country, 2020-2027 (Usd Million)
Table 5 Asia-Pacific E-Coat Market: By Country, 2020-2027 (Usd Million)
Table 6 RoW E-Coat Market: By Country, 2020-2027 (Usd Million)
Table 7 Global E-Coat Market for Product Type: By Regions, 2020-2027 (Usd Million)
Table 8 North America E-Coat Market for Product Type: By Country, 2020-2027 (Usd Million)
Table 9 Europe E-Coat Market for Product Type: By Country, 2020-2027 (Usd Million)
Table 10 Asia-Pacific E-Coat Market for Product Type: By Country, 2020-2027 (Usd Million)
Table 11 RoW E-Coat Market for Product Type: By Country, 2020-2027 (Usd Million)
Table 12 North America E-Coat Market for Application: By Country, 2020-2027 (Usd Million)
Table 13 Europe E-Coat Market for Application: By Country, 2020-2027 (Usd Million)
Table 14 Asia-Pacific E-Coat Market for Application: By Country, 2020-2027 (Usd Million)
Table 15 RoW E-Coat Market for Application: By Country, 2020-2027 (Usd Million)
Table 16 Global E-Coat Market for Application: By Region, 2020-2027 (Usd Million)
Table 17 North America E-Coat Market for Application: By Country, 2020-2027 (Usd Million)
Table 18 Europe E-Coat Market for Application: By Country, 2020-2027 (Usd Million)
Table 19 Asia-Pacific E-Coat Market for Application: By Country, 2020-2027 (Usd Million)
Table 20 RoW E-Coat Market for Application: By Country, 2020-2027 (Usd Million)
Table 21 RoW E-Coat Market for Application: By Country, 2020-2027 (Usd Million)
Table 22 Global E-Coat Market For Product Type: By Region, 2020-2027 (Usd Million)
Table 23 Global E-Coat Application Market: By Region, 2020-2027 (Usd Million)
Table 24 North America E-Coat Market, By Country (Usd Million)
Table 25 North America E-Coat Market, By Product Type (Million Usd)
Table 26 North America E-Coat Market, By Application (Million Usd)
Table 27 Europe: E-Coat Market, By Country (Usd Million)
Table 28 Europe: E-Coat Market, By Product Type (Usd Million)
Table 29 Europe: E-Coat Market, By Application (Usd Million)
Table 30 Asia-Pacific: E-Coat Market, By Country (Usd Million)
Table 31 Asia-Pacific: E-Coat Market, By Product Type (Usd Million)
Table 32 Asia-Pacific: E-Coat Market, By Application (Usd Million)
Table 33 RoW: E-Coat Market, By Country (Usd Million)
Table 34 RoW: E-Coat Market, By Product Type (Usd Million)
Table 35 RoW: E-Coat Market, By Application (Usd Million)
LIST OF FIGURES
FIGURE 1 Global E-Coat market segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global E-Coat Market
FIGURE 4 Value Chain of Global E-Coat Market
FIGURE 5 Share of Global E-Coat Market in 2020, by country (in %)
FIGURE 6 Global E-Coat Market, 2020-2027, (USD billion)
FIGURE 7 Sub-segments of Applications
FIGURE 8 Global E-Coat Market size by Application, 2020
FIGURE 9 Share of Global E-Coat Market by Application, 2020 to 2027
FIGURE 10 Global E-Coat Market size by Product Type, 2020
FIGURE 11 Share of Global E-Coat Market by Product Type, 2020 to 2027
E-coat Market size is estimated as 5.1% for the forecast period.
The e-coat or electronic coat is electrically charged through a unique technique. Voltage is applied to these coats through water suspension according to their thickness. The technology used in these coats is primarily to attract opposite charges. It is a technique of painting that allows the paint to settle through electric current. The metal part is immersed in water-based paint solutions. Uniform coating for exterior and interior surfaces is possible through this technique.
The low volatile and organic ingredients are used in any E-coating. Also, it is a unique type of E-coat that only produces low solid waste. Automotive is a crucial industry having a high demand for E-coats in recent years. There are plenty of factors that affect the growth of this market. The appliance industry is one of the other end users having high requirements for this product.
E-coats are materials that have high suitability in the appliance market due to various features. UV, durability, electricity conduction and durability are some of the qualities of these products. In the upcoming years, passenger cars, heavy-duty vehicles and commercial vehicles will have a high need for E-coatings. In the upcoming years, the use of E-coats will be present for decorative and protective purposes. These factors will contribute to e-coat market value.
The outbreak of covid 19 is causing disruptions in the global markets. There are supply chain issues, less production and a decline in demand in various industries. E-coat manufacturing facilities are facing a downfall. Due to the rapid spread of the virus production is a decline by half. There are revenue losses in the market that is creating a declining effect on the demand. The automotive business is a crucial end-user of the market.
However, it is an industry that is facing a massive decline in the overall supply. It is decreasing the demand for the market significantly. The resistance, high-class coating and durability are features that attract demand from crucial end users. In the upcoming years, the market will witness s a steady growth. There will be immense demand from the automotive and the constructions industry. All these factors will create a positive impact on the market. Also, due to high research new product launches are expected in the next few years.
E-Coat Market Size by Region, 2015 (USD Million)
The increasing government trends to adopt organic compounds will increase the demand for this market. Many governments are encouraging organic compounds. Inorganic coatings are harmful to the environment. They are causing harm to the environment and individuals. Due to these, factors there are a surging trend for organic compounds. Due to consumer awareness for eco-friendly products the organic coating has a high demand. Recently, the incorporation of nanoparticles is acting favorably for this market.
Uniform thickness, paint coverage and chemical resistance are some of the benefits of these E-coats. Nanoparticles in the paints can offer exceptional scratch resistance. High compatibility and aesthetic finish are factors driving demand for this market. These attractive benefits of the E-coats bring a high revenue rate.
The next few years are crucial for the market. The governmental initiatives and campaigns will rise. Especially, there will be new campaigns in the automotive and construction industry to create awareness. Due to this profitability, the supply rate of the market will rise immensely. New end users for the E-coats will rise. This will bring new demand and adoption rates in e-coat Industry.
Better features of E-coat is inclining customer to purchase the product. This trend will create promising growth opportunities in the market. E-coat is a cost-effective product that comes with better performance. High adhesion and performance is attracting several end users. These properties of the product will create more developments. The E-coat market will witness more enhancements in the next few years.
Better enhanced features are expected to draw the attention of many end-users. Further, the requirement for a cathodic type of E-coat will benefit this market. There is a wide range of gloss and clours in this coating that boosts growth. Exceptional resistance to ultraviolet rays is contributing to profitability. Acrylic coats come with a single finish that is used for gardens are HVAC systems. The need for these acrylic coats is constantly surging. The higher penetration of these E-coats will expand this market. Due to acrylic coating, the demand for new end users will rise. These e-coat market growth opportunities will create a spectacular impact on supply rates.
The high initial investment is a restraining factor of the market. The E-coat process is complex. Creating a material that conducts electricity and performs as a good coat is a sophisticated process. Also, the materials used in this coating are expensive. For any industry, the need for capital investment is higher.
Due to the lack of funds in many markets, the adoption rate can reduce. Adoption of E-coats is higher in the automotive industry due to the increased capital. However, some industries are suffering from a lack of funds. The outbreak of covid 19 is affecting many business operations. That is affecting the overall demand for the E-coat. The key players are taking plenty of cost-reducing initiatives. Still, these restraints can hamper the growth of this market.
The volatility of the raw materials is a challenging factor in the market. Raw material volatility is hampering the growth of this market. The fluctuations of materials affect the overall demand. The increase and decrease of the final E-coat product create market inconsistencies. Especially, developing regions are suffering from the fluctuations of this product.
In upcoming years, the raw material price of the market will be under control. The key players are off the market are increasing their sources of raw materials. However, price volatility is a significant challenge that will reduce the expansion rate. Further, the emergence of new substitutes can hinder the market demand. All these challenges can disturb the demand and growth of the E-coats market.
The e-coat market trends is stable in the forecast period. Rising government trends to adopt organic coats are driving demand. In recent years, eco-friendly coats are gaining more traction. The presence of nanoparticles attracts many end-users to the market. The high performance of the E-coat is another demand driving factor.
High durability, scratch resistance and aesthetic finish are exceptional features. However, high capital investment is a restraining factor of the market. Also, price volatility is hampering market growth. Still, the growth rate is substantial due to remarkable growth opportunities.
The Asia Pacific is the leading regional player with high e-coat market share. The rising automotive production is a crucial driver. Modern agriculture is another sector contributing to the growth of this market. The presence of top leaders such as China and Japan benefits this market. China is the largest producer of vehicles that requires a massive amount of E-coats.
The scratch resistance, high quality and durability of the products’ increases the adoption rate. India is another key player that raises the production of E-coat. There are many manufacturing facilities for E-coats in this region. The performance of the E-coat market is exceptional with market shares.
Competition in the E-coats market is surging in the forecast period. There are plenty of new entrances in the market. Also, new product launches are expected in the competitive landscape.
The emergence of cathodic coats will create new demand from end-users. Market expansion, partnerships and mergers are higher. Further, cost-reducing initiatives by the key players are expected to rise for the market.
The E-coats market is fragmented into Asia Pacific, Europe and North America. The Asia Pacific is a leading region with the highest number of shares. The presence of key end-users boosts the growth of this market. Production rate and revenue rates will be the highest in Asia pacific. Also, China, India and Japan will contribute the most to this market.
Europe is another key regional player in the E-coats market. North America is another region with the highest shares. It is an early adopter of electronic coatings. Europe is a crucial region with immense expansion. All these ley players will contribute to the high growth rate of this market.
The key players of the E-coats market
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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|
|Key Market Opportunities||Factors like enhanced physical strengths & superior properties, surging number of vehicles, low cost of coating, eco-friendly regulations, emerging economies|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The e-coat market would reach a valuation of around USD 4.1 billion by 2022.
Between 2014 and 2022, the forecast period mentioned in the MRFR report, the e-coat market would achieve a CAGR of 5.1%.
Factors like enhanced physical strengths & superior properties, surging number of vehicles, low cost of coating, eco-friendly regulations, emerging economies, and others are going to inspire growth for the global e-coat market.
Personal vehicles, commercial vehicles, automotive accessories, heavy vehicles, and others are expected to influence the expansion of the e-coat market.
Companies like Axalta Coating Systems, Ad-Tech Industries Inc., Beacon Industries, Inc., Nippon Paint Holdings, PPG Industries, BASF SE, Valspar Corporation, KCC Corporation, Hawking Electrotechnology, Noroo Paint & Coatings, and others are slated to make an impact on the e-coat market.