The global electrocoating market is valued at USD XX. XX billion in 2016 and is expected to reach USD XX.XX billion by 2021, growing at a CAGR of 5.52%, during the forecast period 2016-2021.
Electrocoating is an immersion coating process, which applies a charge to the metal part that is immersed in a coating bath. The process is highly automated and results in a high-performing finish to deliver a uniform film build, color-consistency, high-yield rates, and applied cost-efficiency, in an environmentally friendly finishing system.
Electrocoating finds a range of applications in many end-user industries such as automotive, aerospace & defense, medical, electronics, sports & recreation, agriculture, and appliances, among others.
Currently, the automotive sector is the largest consumer of electrocoating technology and the growing automotive sector in developing countries is immensely contributing to the market growth.High demand for e-coat in the automotive sector is mainly driven by the growing passenger cars and commercial vehicles.
The market for e-coat is influenced by end-user industries awareness about the need for corrosion-free, smooth finish, wide compatibility with other coatings (liquid and powder), applicability on all types of substrates such as steel, aluminum, electro-galvanized, galvanized, zinc, iron,., and the level of protection that can be achieved through this technology.
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The market has also been geographically segmented into Asia-Pacific, North America, Europe, South America, and the Middle-East & Africa. In Asia-Pacific and the Middle East, the demand for e-coat products is increasing due to rapid urbanization.
The increasing purchasing power in developing countries, economic growth, growing infrastructure projects supported by respective governments, and the need for automobiles are adding to the high demand for e-coat.
The increasing population in Asia-Pacific and the need for automobiles (passenger cars, commercial vehicles, heavy duty equipment such as agricultural and construction equipment, military, and aerospace), followed by appliances, decorative & hardware, fasteners, HVAC, steel strapping, general finishing, and other bulk products, are anticipated to increase the global consumption of e-coat. Asia-Pacific leads the e-coat market with a share of 44% of the global market, followed by Western Europe (21%), North America (20%), and Rest of the World (12%).
In Asia-Pacific, especially, in China and India, the agriculture sector has made many signs of progress in the last few decades. With technology meeting the requirements of farmers in the region, agricultural equipment manufacturers are positively looking forward to supplying their equipment to these countries.
The developed countries, such as the U.S., Germany, Japan, and other Western European countries have large automobile manufacturers. Due to low prospects in the developed countries for new automotive or agricultural equipment, companies are investing or collaborating with Indian and Chinese manufacturers.
In the e-coat market, products manufactured by various companies under different brands are almost similar. Given this, manufacturers are now focusing on technological advancements for e-coat, by offering multiple colors on a single production line, to stay ahead in the market.
Despite the fluctuation in automotive, shipbuilding, aerospace, and other industries where e-coat is used, the expanding infrastructure and investments in all end-user industries are expected to create an opportunity for the e-coat market in the coming years.
Some of the major companies dominating this market for its products, services, and continuous product developments are
Henkel AG & Co
Nippon Paint Holdings Co., Ltd.
PPG Industries, Inc.
Axalta Coating Systems
The Valspar Corporation
Shin-ETSU Chemicals Co., Ltd.
Key Deliverables in the Study
Market analysis for the global electrocoating market, with region-specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global electrocoating market on both global and regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Insights on the major countries/regions where this industry is growing and also identify the regions that are still untapped.
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