This market research report presents a detailed segmentation of the global consumer appliance coatings market by application (refrigeration, large cooking appliance, and home laundry) and by resin type (epoxy, epoxy PE hybrid, and thermoplastic). It provides a market share analysis and projections of its key regions, including Americas, APAC, and EMEA. Key findings also include an analysis of the leading vendors such as AkzoNobel, Dow, PPG, and Valspar.
Technavio’s market research analysts estimate the global consumer appliance coatings market to grow at a CAGR of 7% between 2015 and 2019. One of the key drivers of this market is the increased demand for solvent-free coatings. APAC is the fastest-growing region, covering 39% of the overall market revenue. Factor that can be attributed to this region’s growth are increase in the production and consumption of electrical appliances.
The new market research report from Technavio provides a breakdown and analysis of the consumer appliance coatings segments by technology.
“The technological advancements being made in the coil coatings segment is driving the demand for consumer appliance coatings. Silver metallic coatings and faux silver stainless steel finishes are gaining popularity due to the enormous demand for pre-painted metals and stainless steels. Vendors such as Dow Chemicals are introducing new technologies such as Liquid-Applied Sound Damping (LASD) which reduces noise and vibration in home appliances. The use of such technologies is expected to allow for cost-efficient production of coil coatings during the forecast period,” says Debasish Nayak, Lead Analyst, Chemicals & Materials, Technavio Research.
On the basis of application, the refrigeration segment accounts for around 37% of the total market share and is predicted to register a high growth at a rate of around 7% during the forecast period.. Increase in consumer spending on smart appliances, and focus on new textures and designing is expected to open up huge opportunities in the appliance coatings market.
The leading vendors in the global consumer appliance coatings market include AkzoNobel, Dow, PPG and Valspar. The market was dominated by four key suppliers who accounted for around 50% of the global market share. However, the market is observing a change in structure due to the entry of small and medium-scale companies that produce coil coatings. Vendors in the market are differentiating their products based on technology, formulation, and service. The availability of crude oil at low rates and proximity to potential markets in Asia are encouraging companies in the Middle East to diversify into the production of specialty chemicals, including coil coatings.
A more detailed analysis is available in the Technavio report, Global Consumer Appliance Coatings Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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