Press release
Growth in Sales of In Mold Coatings Market to Push Revenue Growth in the Global Market
A brief overview of the global in-mold coatings marketIn terms of volume CAGR, the global in-mold coatings market is expected to reach 4.2% between 2017 and 2025. In terms of value, the global in-mold coatings market is anticipated to reach to US$ 274.3 Mn by 2025 end, exhibiting a CAGR of 4.9% over the forecast period. The Asia Pacific regional market is expected to witness continuous growth in the global in-mold coatings market followed by Europe. Driven by sales growth of in-mold coatings across various end users, the APAC market is expected to witness a sustainable growth rate over the coming years. In-mold coatings applications have been witnessing considerable demand in Asian countries such as in China and India. This demand is fueled by rising capital investments in construction activities and setting up of large-scale infrastructure projects in the region. Besides, massive investment in the industrial sector is expected to drive demand for in-mold coatings through 2025.
In-mold coatings have been finding significant applications in automotive and buildings and constructions, sanitary products, etc. APAC and Europe are key regions in terms of the industrial sectors at a global level and are anticipated to grow further in the near future with regard to the industry, which in turn, is expected to create significant opportunities for growth of the regional in-mold coatings market over the forecast period. However, factors such as complete dependency on petrochemical feedstock, recyclability issue of composites and high cost of raw materials are anticipated to pose a significant challenge to the global in-mold coatings market growth.
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Performance analysis of the application segment
On the basis of application, the global in-mold coatings market is segmented into electronics & appliances, automotive, truck, rail, sanitary products, building & construction, medical and others. The Automotive segment is projected to account for a major share of the global in-mold coatings market through 2025. Growth of the building & construction segment is estimated to remain moderate over the forecast period, and is expected to account for about 18.0% of the total market share by 2025. Expanding at a healthy growth rate, the electronics & appliances segment is expected to create significant incremental $ opportunity during the forecast period. The demand for other industrial applications is expected to remain moderate to high across different regions. On the other hand, the sanitary products segment is estimated to exhibit a moderate growth rate throughout the forecast period.
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Market analysis of key segments by application
Automotive: Expanding at a healthy CAGR over the forecast period, the automotive segment is anticipated to create an incremental $ opportunity of US$ 32.2 Mn by 2025 end
Building & Construction: The building & construction segment is expected to reach a market value of US$ 49.4 Mn by 2025 end
Sanitary Products: This segment is expected to grow at a CAGR of 4.5% in terms of value during the forecast period 2017 to 2025
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Electronics & Appliances: The electronics & appliances segment is anticipated to expand at a CAGR of 4.2% in terms of value between 2017 and 2025, and is projected to reach a market value of US$ 29.3 Mn by 2025 end
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