Global Plastic Coatings Market is segmented By Material Type (Polyurethane, Acrylic, Epoxy, Others), By Form (Liquid, Powder), By Process (Spray Coating, Dip Coating, Powder Coating, Electrophoretic Painting, Others), By End-User (Building & Construction, Automotive, Aerospace & Defense, Medical, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Plastic Coatings Market Overview
236 pages report analyses the Global Plastic Coatings Market size, shares, recent trends, competitive intelligence, and future market outlook. Demand from oil & gas, aerospace, defense, automotive, Construction, electronics in North America is rising. Competitive rivalry intensifies with Bayer AG, Akzonobel N.V, Wacker Chemie AG and others operating in the market.
The plastic coating is the application of liquid polymers or plastic on the surface of a workpiece by immersion or dipping. It provides a thick plastic finish for protective and decorative purposes, giving the material additional resistance against corrosion, scratches, wear, and external elements.
Plastic coatings are used in various applications in different sectors such as automotive, building & construction, electronics, oil & gas, aerospace and defense.
The need to cut production costs and environmental & energy pressures in the automobile sector drive the demand for plastic coating. However, the sharp price increases for epoxy resins and other raw materials and supply bottlenecks add difficulties to paint and coatings manufacturers and further compound the already existing pressures caused by the COVID-19 pandemic.
Plastic Coatings Market Scope
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Metrics |
Details |
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Market CAGR |
6.7% |
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Segments Covered |
By Material Type, By Form and By End-User 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 vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Plastic Coatings Market Dynamics
The need to cut production costs and environmental & energy pressures in the automobile sector drive the demand for plastic coating
In need of cutting production costs and environmental & energy pressures, the automobile industry is compelled to use lightweight plastic parts to reduce the weight of their vehicles and hence fuel consumption. Moreover, they want coating systems for plastic components to contribute to their efforts to reduce manufacturing costs while at the same time satisfying consumers' needs for vibrant and aesthetic colors.
A Europe-based company named Bayer MaterialScience (BMS), specializing in polyurethane coatings for the automobile, electrical, electronic and other sectors, is advancing and developing new plastic coatings technologies.
For instance, BMS has recently developed a reverse or dual-cure coating system to ensure that the coatings on car bodies have adequate durability, weather-fastness and scratch resistance.
Moreover, the company combines reaction injection molding (RIM) with the in-mold coating process in several prototype trials and development projects, including with a significant customer in the U.S. The new coating system lowers investment costs, easier logistics and less demand for space.
In addition, BMS has been commercializing a waterborne two-component (2K) polyurethane coating system for the OEM market in cooperation with coatings companies.
Availability and cost of specialized raw materials is expected to hinder the plastic coatings market
The sharp price increases for epoxy resins and other raw materials and supply bottlenecks add difficulties to paint and coatings manufacturers and further compound the already existing pressures caused by the COVID-19 pandemic.
For instance, recent data from the German Paint and Printing Inks Association stated a significant increase in epoxy resins of as much as 60% in recent months.
Moreover, poor margins for powder coatings producers because of rises in raw material costs are hindering investment in R&D on improvements to technologies.
Plastic Coatings Market Segmentation Analysis
The plastic coatings market is segmented into polyurethane, acrylics, epoxy, and others based on type.
The polyurethane segment contributes the largest share to the plastic coatings market. For coating applications, a cross-linked film is preferred over thermoplastic urethanes. The polyurethane coating resins market is highly dependent on the growth of markets for automotive, floors, boats, and metal objects.
Unfortunately, the high cost and handling of potentially hazardous isocyanates used as curing agents for manufacturing hinder the market. However, various industry segments have developed safe handling methods that overcome these disadvantages. In addition, superior performance and the ability to cure lower baking temperatures make polyurethane a primary plastic coating material in various end-use applications.
Global Plastic Coatings Market Geographical Analysis
North America is expected to dominate the market owing to the product advancement, expansion and acquisition of different companies. For instance, AkzoNobel has launched several new products for the industrial coatings market. For Coil, the company has recently launched TRINAR A-CLAD in North America. It is a new coil coating system targeting the aluminum composite panel market.
Moreover, Hempel, a US-based company, has launched Hempafire Optima 500, a new waterborne coating in its Hempafire passive fire protection range. Passive fire protection coatings improve building safety by extending the load-bearing capacity of structural steel during a fire to give extra time for evacuation and emergency response. As a result, they are increasingly demanded by local authorities and building owners.
Besides, recent acquisitions and expansion also cater to the demand for the products in the region. For instance, in March 2020, PPG, a US-based company, acquired Alpha Coating Technologies. With this, PPG expanded its powder coatings offering and now offers small batch and low cure powder coating manufacturing capabilities for general finishes, light industrial, furniture and heat-sensitive substrate end uses.
In addition, the acquisition also has enabled PPG's quick-ship program for SilverSan antibacterial-protected powder coatings. As a result, the customers can receive SilverSan powder coatings with two-day shipping orders in the top 30 RAL colors that weigh up to 200 pounds (91 kilograms).
Plastic Coatings Market Companies and Competitive Landscape
The plastic coatings market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include PPG Industries Inc., Bayer AG, Axalta Coating Systems, Akzonobel N.V., 3M, Eastman Chemical Company, Axalta Coatings System LTD., Kansai Paint Co., LTD., BASF SE, Wacker Chemie AG among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the plastic coatings market globally.
PPG Industries Inc.
Overview: PPG Industries, Inc. is a US-based multinational company of paints, coatings, optical products, and specialty materials. The company is headquartered in Pittsburgh, Pennsylvania, US
Product Portfolio: PPG Industries, Inc. provides custom coaters with powder coatings that combine beautiful finishes with protection performance. The company provides a comprehensive mix of acrylics, epoxies, polyesters, epoxy-polyester hybrids, urethanes and fluoropolymers provide a protective barrier that resists marring, weathering, corrosion and abrasion.
Key Developments:
- In March 2020, PPG Industries, Inc. acquired Alpha Coating Technologies. With this, PPG expanded its powder coatings offering and now offers small batch and low cure powder coating manufacturing capabilities for general finishes, light industrial, furniture and heat-sensitive substrate end uses.
The global plastic coatings market report would provide an access to an approx. 69 market data table, 62 figures and 236 pages.
