Press release
Electrocoating Market Will Multiply At An Impressive CAGR By 2024 & Top Key Players BASF SE, Nippon Paint Holdings Co. Ltd., KCC Corporation, Axalta Coating Systems, PPG Industries Inc., The Valspar Corporation, Tatung Fine Chemicals Co. Ltd
The Global E-Coat Market was valued at USD 3.5 Billion in 2016 and is likely to reach USD 4.6 Billion by the end of 2024, expanding at a notable CAGR over the period 2017-2024. Rising demand for electrocoating from various industries such as automotive and electronic appliance is expected to foster the growth of global e-coat market over the forecast period. Further, its advantage of uniform coating of the surfaces and less waste production as compared to other coating processes is anticipated to drive the expansion of e-coat market.
In the regional segment, Asia-Pacific accounted for the highest percentage of market share in 2016 and is anticipated to continue its dominance over the forecast period owing to the increasing demand in the automotive industry. Additionally, spiked growth of electronic appliance industries is likely to provide robust growth to electrocoating market over the forecast period. Further, presence of automotive manufacturers is anticipated to drive the growth of electrocoating market in Europe region. Factors such as increasing activity of renovation of houses and buildings combined with high disposable income are expected to drive the growth of North America market at a significant pace.
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Automotive Industry Reflects Significant Opportunities
Rising demand from automotive industry is the major factor driving the growth of the global electrocoating market due to high demand for color customization with its wide range of color and glosses. Moreover, electronic coatings find its usage in coating electronic appliances as they offer resistance to corrosion and humidity. These factors are expected to augment the growth of the global e-coat market.
However, presence of alternatives is likely to inhibit the growth of the e-coat market in the near future.
The report titled “Electrocoating (E-Coat) Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the electrocoating (e-coat) market in terms of market segmentation by product type, application, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the electrocoating (e-coat) market which includes company profiling of BASF SE, Nippon Paint Holdings Co. Ltd., KCC Corporation, Axalta Coating Systems, PPG Industries Inc., The Valspar Corporation, Tatung Fine Chemicals Co. Ltd, Luvata Oy, Hawking Electrotechnology Ltd. and NOROO Paint & Coatings Co. Ltd.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the electrocoating (e-coat) market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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