According to the latest market research study by Technavio, the global electrocoating market is expected to grow at a CAGR of more than 5% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global electrocoating market regarding revenue and emergent market trends. The report also consists of the latest study and forecasts for various market sectors and all geographical regions.
Technavio research analysts categorize the market based on the application
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The top three revenue contributing application segments are enlisted below:
Global electrocoating market for automobiles: The extensive use of electrocoating technologies to protect the automobile components from corrosion, UV radiation, pollution, and acid rain is driving the growth of this market segment. These coatings help to improve the chipping resistance and durability of the vehicle and protect the vehicle in exterior environment and different weathering conditions such as UV radiation, heat and cold, and dust and pebbles from the road. Passenger cars, commercial vehicles, and automobile parts and accessories are the largest end-user of this technology.
“Electrocoating offers superior color, gloss control, and final finish and primarily used for coating exterior and interior of automobiles, automobile units, and in under-the-hood areas. This mechanism is gaining popularity in the automobile sector due to its economic and performance advantages. The other application of this technique includes coating interior structural components, rigid exterior trim systems, rigid bumper systems, and wheel systems,” says Ajay Adhikari, a lead analyst at Technavio for research on paints, coatings, and pigments.
Global electrocoating market for heavy-duty equipment: The growth of the agriculture, construction, and mining industries is increasing the demand for heavy duty equipment and the requirement for electrocoating in the global market. This processing technique delivers tough finish to the equipment so that they can survive the rigidities during operations such as farming and construction. The extensive use of technique will help business owners to be cost efficient as it will reduce the burden of replacing the equipment very often.
Global electrocoating market for appliances: The vendors in the consumer electronic segment uses electrocoating as it helps to improve the visual qualities of the appliances products to attract the consumers. This method is predominantly used in the coating of several appliances such as refrigerators, laundry machines, microwaves, freezers, ovens, and dishwashers. The manufacturers are using cathodic acrylics for providing one-coat solutions for the topcoat finish. Such advances will help in the growth of this market segment.
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The top vendors functioning in the global electrocoating market are:
- Axalta Coating Systems
- BASF
- KCC
- PPG Industries
- Valspar
A more detailed analysis is available in the Technavio report titled, ‘Global Electrocoating Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Industrial Coatings Market 2016-2020
- Global Coil Coatings Market 2016-2020
- Global Waterborne Coatings Market 2016-2020
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