The study methodologies used to examine E-Coat Market for the forecast period, 2020 - 2027 further classifies the industry by type, geography, end-use and end-user to add more precision and bring to light factors responsible for augmenting business development.
New York, NY -- (SBWIRE) -- 12/23/2020 -- Using electric current for installing paint on several element parts, E-coat or electro coat method is crucial to the automotive industry. This electro coat is a permanent emulsion of various organic resins containing ionic ingredients & solvents, and deionized water. Moreover, e-coat comprises several polymeric substances like acrylic and epoxy, used widely for guarding and embellishing purposes. The global e-coat market has grown steadily by garnering a revenue of USD 3.54 billion in 2019 and is foreseen to register USD 4.84 billion by 2027, with a promising 4.2% rate of CAGR.
Key participants include Axalta Coating Systems, PPG Industries, Inc., BASF, Nippon Paint Holdings Co., Ltd., The Valspar Corporation, Tatung Fine Chemicals Co .Ltd, KCC Corporation, Luvata OY, Hawking Electrotechnology Ltd, Noroo Paint & Coatings Co., Ltd among others.
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For the purpose of this report, Reports and Data have segmented into the global E-Coat market on the basis of Type, Technology type, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Cathodic Epoxy
Cathodic Acrylic
Anodic
Technology Type Outlook (Revenue, USD Billion; 2017-2027)
Epoxy Coating Technology
Acrylic Coating Technology
Application Outlook (Revenue, USD Billion; 2017-2027)
Passenger Cars
Commercial Vehicles
Automotive Parts
Heavy-Duty Equipment
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
Europe
Asia Pacific
MEA
Latin America
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Market Drivers
The electro coating market is expanding significantly due to automated coating process, considered as an economical alternative to other methods of coating. This factor is presumed to spur the e-coat market expansion in the future. Furthermore, elevating demand for e-coating in several end-use industries due to its outstanding properties such as environmental friendliness, corrosion-resistance, and excellent throw power is also positively impacting the market growth. Additionally, rapid advancements in new systems and technology, including cathodic epoxides, cathodic acrylics, and anodic epoxides are granting several lucrative opportunities in the market, thus, promoting the market growth. Due to electro coating's excellent UV resistance property, it is used for coating ingredients as machines, containing heat-sensitive parts such as seals and bearings. Such a wide range of applications is fostering market growth.
Regional Analysis
Growing demand for e-coatings in the automotive industry in Asia Pacific made the region dominant in terms of contributing the highest share in the year 2019. This regional market has been foreseen to retain its dominance during the projection timeframe, owing to flourishing electronic appliance enterprises. Other regions, like Europe, is also witnessing a steady growth in the e-coat market due to the existence of automotive manufacturers in the region. North America market is expanding at a significant pace, owing to rising renovation activity of buildings and houses and increasing disposable income.
Further key findings from the report suggest
In the segment of Type the highest CARG is seen in the sub segment of Cathodic Epoxy of about 4.4% compared to other sub segment. Apart from this, technological innovation and development associated with e-coat such as DOE matrix is one of the key factors fueling the growth of the global Electro coating market.
Cathodic acrylic electro coat materials is forecasted to grow with a CAGR of 4.3% during the forecast period.
Technological modifications are supposed to drive the growth of the Global E-Coat Market. The growth of the automotive division in emerging economies and the potential for e-coat from the shipbuilding & pipeline industries are expected to perform growth opportunities for the market…Continued
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