Albany, NY -- (SBWIRE) -- 05/19/2017 -- E-coat Market to Enjoy Government Support owing to Compliance to Environmental Regulations
Superior performance, cost effectiveness, and compliance to environmental regulations are some of the factors behind the growing popularity of e-coat or electro-coat. The global e-coat market is also benefitting from the growth of various end user industries such as automotive, electronic items, and home appliances. As per a report published by Transparency Market Research suggests that the global e-coat market will witness a healthy growth in the period from 2016 to 2024, on account of a surge in the development of commercial apartments, residential buildings, educational institutes, and other building, which is creating a need for decorative coatings.
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Given below are some of the important questions answered by TMR analysts, with regards to the global e-coat market:
What are the key factors pushing the e-coat market towards growth?
The growing population across the globe is resulting in an increased demand for transportation, which in turn is fueling the demand for e-coat. There is also a heightened demand for public transportation facilities such as bus, train, and others, which is driving the global e-coat market. The increasing demand of electronic gadgets such as mobiles, laptops, computers, and other accessories is also creating a need for e-coat, boosting the market. A large number of consumers are spending extensively on sports equipment, which is also increasing the demand for e-coat. In addition to this, the pressure created by regulatory bodies to make use of coatings that emit low volatile organic compounds is encouraging the growth of this industry. Moreover, conventional coatings make use of solvents that are costly, which is driving more and more industries to make use of e-coat.
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What are the recent developments in the global e-coat market?
The increasing popularity of nanoparticles in the paint and coating industry has resulted in a positive outlook for the global e-coat market. Nanoparticles make paints more scratch and corrosion resistant and this is why they are now being adopted in e-coat, imparting features such as resistance to mechanical deformation, uniform coating thickness, compatibility with other products, complete paint coverage, high chemical resistance, ease of application on various substrates, and aesthetic finishing.
Which region is anticipated to be a lucrative market for e-coat in the future?
Asia Pacific is anticipated to hold lucrative opportunities in the e-coat market in the coming years, with countries such as Japan, South Korea, India, and China leading in terms of contribution to the revenues. This is because passenger cars are highly in demand in these countries, which in turn is boosting the growth of the e-coat market. In addition to this, the growth in the infrastructure, construction, and building industries is creating a favorable market opportunity for e-coat. Moreover, the automotive sector is flourishing on account of high demand for automobiles by the growing population in the region. A rise in the disposable income is also favoring the growth of the automotive industry, which is positively impacting the e-coat market in Asia Pacific.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insights for decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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