The latest report by IMARC Group, titled “Coating Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global coating equipment market size reached US$ 19.58 Billion in 2021. Coatings are a mixture of film-forming materials applied on several substrates, including metals, polymers, glasses, and ceramics, to enhance their aesthetic and functional properties. These coatings are applied using specialized machines that promote even distribution of paints or coats on different components, optimize efficiency, enhance the accessibility of an effective exhaust system to clear any remaining solvent vapors, and ensure optimum drying and proper mixing of several substances. They also offer protection against degradation, corrosion, ultraviolet (UV) radiation, and rusting. As a result, coating equipment is widely adopted across automotive, construction, industrial, and aerospace industries across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Coating Equipment Market Trends:
The market is primarily driven by the widespread adoption of coating equipment in commercial and industrial establishments due to increasing construction activities across the globe. Moreover, the evolving living standards, rising population, and inflating disposable incomes, particularly in emerging economies, represent other major growth-inducing factors. Besides this, the rising environmental awareness among the masses has encouraged the adoption of electric vehicles (EVs), wherein coating equipment is utilized to protect automobile substrates and components against rust and other damages, which is providing a positive thrust to the market growth. Along with this, numerous product innovations, including the launch of customized coating equipment and technological advancements in coating processes to meet the evolving needs of different applications, are augmenting the market growth. Furthermore, the extensive utilization of powder coating equipment in door frames, building facades, bathrooms, aluminum window extrusions, and electrical fitting owing to its several beneficial properties, including longevity, eco-friendly nature, and durability, is anticipated to propel the market growth. Other factors, including the surging need for cost-effective coatings systems alternatives and the increasing application of heavy machinery in the manufacturing sector, are creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 27.7 Billion by 2027, exhibiting a CAGR of 5.70 % during the forecast period (2022-2027).
- Based on the product, the market has been classified into powder coating, liquid coating, and specialty coating equipment.
- On the basis of the distribution channel, the market has been bifurcated into wholesale and retail distributors.
- Based on the application, the market has been segmented into automotive, aerospace, construction, industrial, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined in the report, with detailed profiles of the key players being Anest Iwata Corporation, Asahi Sunac Corporation, Castolin Eutectic, Graco Inc., Hydromer, IHI Corporation, J. Wagner GmbH, Larius S.r.l, Nordson Corporation, OC Oerlikon, Praxair Surface Technologies Inc. (Linde plc) and Samvardhana Motherson Group.
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