Northbrook, IL 60062 -- (SBWIRE) -- 12/01/2023 -- The report "Electrocoating Market by Type (Cathodic Epoxy, Cathodic Acrylic, Anodic), Application (Passenger Cars, Commercial Vehicles, Automotive Parts & Accessories, Heavy-Duty Equipment, Appliances) and Region - Global Forecast to 2026", size is projected to grow from USD 3.9 billion in 2021 to USD 5.0 billion by 2026, at a CAGR of 4.7% during the forecast period. The electrocoating market is growing due to the rise in the demand for cost-effective, advanced technology, and stringent government regulations globally.

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257 market data Tables
47 Figures
237 Pages

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Electrocoating is a process used for depositing an organic paint film by means of an electrical charge. In this process, the part is immersed in an electrified tank, and the reaction between the electricity and the solution causes the paint to deposit on the substrate. Although this process is used in different applications, it is mostly known for its application in the automotive industry as a primer coat for automotive bodies. It provides a more uniform texture to the car body than conventional priming systems do and has become the most widely used priming process in the automotive industry.

Asia Pacific to be the second-fastest-growing region in the electrocoating market during the forecast period
The Asia Pacific region is segmented into China, Japan, India, South Korea, Indonesia, and other Asia Pacific countries. The growth of the electrocoating market is mainly attributed to the high economic growth rate followed by heavy investment across various industries such as automotive, consumer goods & appliances, building & construction, and furniture. Various companies such as PPG Industries (US) and BASF SE (Germany) are setting up new plants or expanding their existing electrocoating and resin production units in the Asia Pacific region. The major advantage of shifting production base to the Asian region is the availability of cheap labor and low cost of production. Over half of the world's population lives in Asia Pacific countries and this region is increasingly becoming an important global trade and commerce center. With a population of around 3.6 billion people in about 48 countries, the region accounts for almost one-third of the global GDP measured in terms of purchasing power parity (PPP).

The advancements and increase in automobiles production, along with increase in purchasing power of the public, are the major reasons for the increased consumption of electrocoating in the region.

PPG Industries, Inc. (US), Axalta Coating Systems, Ltd. (US), BASF SE (Germany), The Sherwin Willaims Company (US), Nippon Paint Holdings Co., Ltd. (Japan), Tatung Fine Chemicals Co., Ltd (Taiwan), KCC Corporation (South Korea), Kansai Paint Co., Ltd (Japan), B.L.Downey Company LLC (US), Hawking Electrotechnology Ltd (England), Therma-Tronx-X, Inc. (US), and Parker Trutec, Inc (US).

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PPG Industries, Inc. is a global leader in advanced coatings, paints, and specialty materials. The company has two business segments: performance coatings and industrial coatings. It has been pioneering in solutions focused on technology and quality in the industrial market for more than 90 years. PPG is a leader in epoxy and acrylic electrocoat for industrial applications. Its products include black and grey cathodic epoxy electrocoat and PPG POWERCRON 6th Generation products.

The company provides a comprehensive mix of anodic and cathodic electrocoats to various markets. Its products are manufactured globally, supported by local sales and service teams that can provide timely, on-site support. The company is committed to innovation, sustainability, community engagement, and developing leading-edge paint, coatings, and specialty materials technologies. It serves customers in construction, consumer products, industrial, and transportation markets and aftermarkets with manufacturing facilities and equity affiliates in more than 70 countries.

Axalta Coating Systems, Ltd is one of the largest electrocoat producers globally, supplying e-coat products to most major light vehicles, commercial vehicle original equipment manufacturers, and a wide range of general industrial customers. The company operates under two business segments: performance coatings and transportation coatings. It offers a portfolio of qualified e-coatings formulated to meet unique customer needs with a complete range of the latest generation technologies and a team of technical experts to provide service and support.

Axaltas electrocoats are high-performance products formulated to provide reliable mechanical strength and superior corrosion protection. Each is water-based, and therefore helps support environmental goals, and is formulated to ensure superior performance over various substrates, including hot-rolled steel, cold-rolled steel, galvanized steel, aluminum, and magnesium. It offers a variety of e-coat formulations such as lead-free and tin-free products, low VOC and HAPS-free systems, and formulations with special benefits such as improved edge protection, low-temperature bake capability, and improved throw power. The company has adopted AquaEC as the single name for its entire E-Coat product portfolio.

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