New York, Aug. 31, 2020 (GLOBE NEWSWIRE) — The global Coating Equipment Market is forecast to reach USD 25.25 Billion by 2027, according to a new report by Reports and Data. The size of the coating equipment market is projected to experience a surge in demand due to increased end-use applications in various industries like aerospace, automotive, manufacturing, transport, and construction. An increase in car sales along with an expanding population, a rapid boom in the infrastructure industry, and increased consumer buying power in emerging economies would add to market revenue. Heavy machinery used in various sectors utilizes different layering techniques to provide tool protection from corrosion, abrasion, rusting, and wear & tear, which would, in turn, increases the life cycle of these tools. Growing industrialization in construction and manufacturing industries in developing nations would improve the demand. Increasing layering use in household appliances, vehicles, and bicycles would ensure more product development.
Robust demand growth due to increased government spending, rapid population growth, and ongoing progress on infrastructure projects in Middle Eastern economies is likely to increase coating equipment usage in the residential sector. Africa’s residential industry is projected to see growth due to increased foreign direct investment and increased consumer purchasing willingness.
Continuous advances in coating processes and equipment drive the demand in various applications. Manufacturers are actively undertaking R&D and are designing advanced equipment to meet the needs of customers. New technical innovations enables accomplishment of faster coating methods and long-lasting adhesives.
Nevertheless, the emergence of low-cost alternatives like brushes & rollers is estimated to restrict the expansion of the demand. The use of high-end coating equipment might not be an economically viable choice for applications requiring less rigid requirements and small volumes.
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The COVID-19 impact:
The current pandemic situation led to lower demand in the automobile, mining and telecommunications sectors, for paints and coatings. To the industry, the road to return of production is highly dependent on the length of the sanctions imposed and their impact on global economic activity. Contrary to the industry trend generally, certain consumer products, such as antimicrobial coatings, are seeing a surge in demand in the healthcare and food industries. The Asia Pacific region suffered the worst from this pandemic, with China at the frontline of the outbreak. Some programs have shifted in many countries, leading to a brief pause. Production and delivery were put on hold, forcing suppliers, retailers, and customers to miss out. The stock can face a downward trend for the time being. Soon, the new technologies will add demand to the market as the situation resolves.
Further key findings from the report suggest
- Specialty coating systems are used for the application of specialty coatings. These include PVD and CVD devices and, among others, thermal sprays. The need for this equipment is growing in the developing countries of APAC and the Middle East & Africa due to the growing demand for long-lasting protective layers in several products.
- In the following years, aerospace is expected to record the fastest growth. The steady growth of the aerospace industry and the production of new aerospace coatings are factors that fuel the growth of this segment ‘s demand for coating machines.
- APAC is expected to be the fastest-growing market for coating appliances. The market is driven by high population growth, industrial development, increased demand for automobiles, and rising demand for coatings with better performance in the region. The region’s market is seeing tremendous growth owing to the emergence of growing economies like India, China, and ASEAN countries like Thailand and Indonesia.
- Key participants include Castolin Eutectic, Praxair S. T. Technology, Inc., J Wagner GmbH, Asahi Sunac Corporation, Anest Iwata, Graco Inc, C Oerlikon Corporation AG, Sata GmbH & Co.Kg, Sulzer Ltd, and Nordson Corporation, among others.
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For the purpose of this report, Reports and Data has segmented into the global coating equipment market on the basis of product, distribution channel, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Specialty coating equipment
- Powder coating equipment
- Liquid coating equipment
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Wholesale and Distributor Business Trend
- Retail Distribution Channel
Application Outlook (Revenue, USD Billion; 2017-2027)
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/coating-equipment-market
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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