Press release
In-Mold Coatings Market to Record a Healthy CAGR of 4.9% by 2025
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Market Dynamics
The global in-mold coatings market is greatly influenced by many applications such as automotive, building & construction, sanitary products, electronics & appliances, etc. The Automotive segment accounts for a high market share in terms of value and volume as compared to other applications. Moreover, growth in the building & construction segment is expected to influence the in-mold coatings market positively, marking a high growth rate in developed as well as developing countries. This is expected to create strong growth opportunities in the global in-mold coatings market. Establishing long-term supply contracts with end users across specific industry segments can provide stability as well as growth opportunities for manufacturers in terms of revenue generation.
However, the global in-mold coatings market is expected to face some challenges. Complete dependency on petrochemical feedstock, recyclability issue of composites and high cost of raw materials are the factors that may impact global demand for in-mold coatings, thus in turn restricting revenue growth of the global in-mold coatings market.
Segmentation Analysis
On the basis of product type, the solvent based segment is anticipated to continue to dominate the market in terms of value over the forecast period. The water based segment by product type is estimated to grow at a value CAGR of 5.1% over the forecast period.
By resin technology, the polyurethane segment is expected to witness for significant growth owing to significant market value share, incremental $ opportunity and a healthy CAGR. This segment is projected to hold a market value share in excess of 70% throughout the forecast period.
In terms of formulation, the one component (1k) segment is expected to remain the most lucrative. The two component (2k) segment is expected to create incremental $ opportunity of US$ 22.6 Mn between 2017 and 2025.
On the basis of coating layer, the top coat segment is likely to dominate in terms of market value, projected to hold a value share in excess of 60% throughout the forecast period.
By substrate, the SMC segment of thermosetting is expected to register healthy growth between 2017 and 2025 while the physical form segment is expected to gain significant traction among other types.
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Regional Market Projections
On the basis of market value share, Asia Pacific is expected to expand at a healthy CAGR of 5.1% during the forecast period followed by Europe and North America. Europe is expected to hold a market value share of about 30% during the forecast period. North America is expected to represent incremental $ opportunity of US$ 20.2 Mn over the forecast period.
Vendor Insights
The report highlights some of the top companies operating in the global in-mold coatings market such as OMNOVA Solutions Inc, Stahl Holdings B.V., Berlac Group, AkzoNobel NV, The Sherwin Willams Company, Fujichem Sonneborn Ltd, RASCHIG GmbH., Protect Powder Coating Inc, and KECK Chimie. Top market players have been focusing on mergers and acquisitions of small and established players to strengthen their presence in the global in-mold coatings market.
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