Global Coating Equipment Market is segmented By Resin Type (Acrylic, Polyester, Epoxy, Others), By Coating Type (Powder type coating, Liquid type coating), By Application (Furniture, Automotive, Architectural, Aerospace, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Coating Equipment Market Report Overview
The Global "Coating Equipment Market" is expected to grow at a CAGR of 5.65% during the forecasting period (2024-2031).
Coating equipment is used for coating or surfacing industrial parts, metals, components, products, or materials to protect them from corrosion. An increase in the application of coatings in various industry sectors is driving the market, and it is predicted to grow at a robust CAGR over the forecast period.
Coating Equipment Market Scope
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Metrics |
Details |
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Market CAGR |
5.65% |
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Segments Covered |
By Resin Type, By Coating Type, By Application and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Coating Equipment Market Dynamics
Growth in the automotive, construction industry is one of the major factors that is driving the market. These coatings are used to protect automotive products from corrosion caused due to the presence of fluorides/chlorides or organic acids, extreme temperatures, UV rays, chemicals, and abrasion or water. Thus, an increase in automotive vehicle production increases the demand for coating equipment. Also, these are used for corrosion control for structures and buildings made from steel and metals such as bridges, underground pipelines, buildings which will boost the market further.
For instance, according to OICA, the global production volume of automotive grew by approximately 25% between 2000 and 2017.
Coating equipment is expensive, and it requires a large number of additional parts and accessories which further builds up the product cost. Also, high installation cost hinders the global coating equipment market.
Coating Equipment Market Segmentation
Based on application the global coating equipment market is broadly segmented as automotive, aerospace, furniture, construction and others. Among all these, aerospace accounted for a major market share and is expected to grow at a high CAGR over the forecast period. Coatings in the aerospace industry are used to enhance the performance and protect the substrates of aircraft components. The steady growth of the aerospace industry is boosting the growth of the coating equipment market. For instance, according to American Institute of Architects (AIA), in 2017, the US aerospace industry had exported aircraft and engine parts, valued at approximately USD 7,799 million.
Based on coating type the global coating equipment market is segmented into powder coating, specialty coating, liquid coating, and others. Among all these, powder coatings occupied the major market share and are projected to grow at the fastest rate during the forecast period. Using this type of coating, the excess material can be retrieved, which reduces the amount of waste. Additionally, the cost of applying powder coating is less than a liquid system in the long term, and it has low volatile organic compound content.
Coating Equipment Market Geographical Share
The global coating equipment market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
The Asia Pacific occupies the dominant share in the coating equipment market and is expected to grow at a CAGR of XX% in the forecast period. It is owing to continuous growth construction, automotive, and manufacturing industries. Also, the shift of global competitors towards emerging economies due to rapid industrialization and cost-effective labor, and low initial investments. Additionally, increasing investment by the government in the transportation, building, and infrastructure sectors. For instance, according to Construction Industry Council (CIC), it is expected that during 2017-2021, the Asia Pacific’s construction output will increase by 3.3%.
Coating Equipment Companies and Competitive Analysis
Significant players of global coatings equipment market are Nordson Corp, OC Oerlikon, SATA, ASAHI Sunac Corp., Graco, Praxair surface technologies, Anest Iwata, J. Wagner, Carlisle Companies, WIWA Wilhelm Wagner, and others. The majority of these companies have been adopting key strategies such as new product launches, acquisitions, and mergers to expand their production and customer base and to maintain their share in the global coating equipment market.
For instance, in September 2018, OC Oerlikon opened its second production center in Slovakia. In May 2018, Ionbond, a subsidiary of IHI Corporation, expanded its coating capacity at its coating service center in France. In July 2018, Carlisle Fluid Technology, a division of Carlisle Companies, opened its new building in Bournemouth, UK.
Why Purchase the Report?
- Visualize the composition of the coating equipment market across each indication, in terms of type and treatment options, highlighting the key commercial assets and players.
- Identify commercial opportunities in the coating equipment market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of the coating equipment market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Resin mapping in excel for the key Resins of all major market players
