Coating Equipment Market | Key players: Nordson Corp, IHI Corp, OC Oerlikon, SATA, Graco, ANEST IWATA, ASAHI Sunac Corp, J. Wagner, Carlisle Companies, and WIWA Wilhelm Wagner

According to recent research "Coating Equipment Market by Type (Liquid Coating, Powder Coating, and Specialty Coating), End-use Industry (Automotive & Transportation, Aerospace, Industrial, Building & Infrastructure), and Region - Global Forecast to 2023", published by MarketsandMarkets™, The coating equipment market size is estimated to be USD 20.4 billion in 2018 and is projected to reach more than USD 27.7 billion by 2023, at a CAGR of 6.3% between 2018 and 2023.

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Increasing demand from growing end-use industries and the need for replacement of existing coating systems are the key drivers for the growth of the coating equipment market.

Selection of coating equipment for use in varied end-use industries depends on various factors, which include type of coating material, shape of the object to be coated, and degree of surface finish required. Surface finish is an important factor in all end-use industries, such as automotive & transportation, aerospace, industrial, and building & infrastructure. To get proper finish of the coated surface, various types of coating equipment are used.

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Coating equipment serves various end-use industries, such as automotive & transportation, aerospace, industrial, and building & infrastructure. Growing demand for coating equipment from the industrial segment in the Asia-Pacific region and increasing acceptance of new technologies in the field of coatings, especially in emerging economies are the factors expected to boost the growth of the coating equipment market during the forecast period.

The strategy of new product launches was the key strategy adopted by major players to achieve growth in the coating equipment market between 2013 and 2016. This strategy accounted for the largest share of all development strategies adopted by market players between 2013 and 2016. Some of the major market players operating in the coating equipment market are Nordson Corporation (U.S.), Anest Iwata (Japan), Graco Inc. (U.S.), O.C. Oerlikon (Switzerland), IHI Ionbond AG (Switzerland), and SATA GmbH & Co. KG.(Germany), among others.

Besides new product launches/developments, expansions, and mergers & acquisitions were other key strategies adopted by market players to enhance their market shares in the coating equipment market and expand their geographical reach.

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Nordson Corporation focuses on expansions and development of new and innovative products and services to cater to the growing needs of its customers for efficient and sustainable solutions. It continues to work on optimizing manufacturing processes of coating equipment, offer customized products, and develop new, energy-efficient, and cost-effective solutions for coating materials. For instance, in November 2015, Nordson Corporation launched Encore HD Mobile Spray System (powder coating), which features its fourth generation dense phase spray technology. This system helps in achieving optimum utilization of powder materials and provides increased speed of operation. Development and launch of this system has helped the company to cope up with growing demand for powder coating equipment from various end-use industries.

In March 2014, Nordson Corporation signed an agreement with Esman Elektronik for distribution of its products in Turkey. This enabled company to expand its distribution channel in Turkey to reach its customers and strengthen its presence in the country.

Graco Inc. is one of the major players in the coating equipment market. The company has a broad product portfolio and offers various fluid and powder coating materials. It is also involved in the manufacturing of coating equipment. Graco also offers adhesives and sealants. Graco Inc. focuses on the development of new products. It has launched electric and gas airless sprayers, which make spraying easy, fast, and increasingly productive.

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