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E-Coat Market Insights and Growth Opportunities in 2024: An Extensive Analysis Dynacast Dongguan, E Coat Japan K.K.
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Market Trends :
Rising demand of E-Coat in automotive industry is driving the market
The automotive industry relies on the e-coating process because of the strong, durable and reliable e-coat corrosion resistance it provides.
The e-coat protects the surface, cavities and edges of a car body from corrosion. In combination with the pre-treatment process, it offers an excellent base for applying subsequent paint layers. Vehicles need safe mechanisms to run efficiently without posing a hazard and jeopardizing anyone's safety.
Recent product advancements and product launches are also driving the e-coat market in the automotive industry. For instance, in December 2020, Axalta, a US-based company, launched a new environmentally responsible, cathodic tin-free E-Coat primer. It is a next-generation, tin-free electrocoat Axalta technology and has been specifically formulated to meet the evolving needs of customers in the automotive parts and accessories.
Market Segmentation :
By Type : Cathodic, Anodic, Others.
By Technology : Epoxy Coating Technology, Acrylic Coating Technology.
By Application : Commercial Vehicles, Automotive Parts and Accessories, Heavy Duty Equipment, Appliances.
By End-User : Automobile, Electrical, Industrial, Consumer Goods.
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Geographical Share :
The Asia-Pacific region maintains its dominance in the global E-Coat market. Driving the demand for E-Coating in this region are key factors such as the burgeoning automotive manufacturing sector, expanding agriculture equipment industry, and growing industrial activities.
China, in particular, continues to lead the global automotive market. However, the performance of the automotive industry in China has been impacted by economic fluctuations and the ongoing trade dispute with the United States.
Nevertheless, China remains significantly focused on ramping up the production and adoption of electric vehicles (EVs) domestically. In pursuit of this goal, the country aims to increase annual electric vehicle production to 2 million by 2020 and 7 million by 2025. If achieved, this target will elevate the share of electric vehicles to 20% of the total new vehicle production in China by 2025, subsequently driving increased demand for E-coat in the coming years.
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Competitive Landscape
Some of the key players which are contributing to the growth of the market include Axalta Coating Systems, LLC, Henkel Corporation, Dynacast Dongguan, E Coat Japan K.K., Fawer Y-Tec, Foshan Nanhai Hua Hao Aluminium Extrusion Co., Ltd., Itsuwa Seisakusyo Co., Ltd., Jost World, Mazda Motor Corporation, Nihon Parkerizing Co., Ltd. among others.
Related Reports :-
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Coating Resins Market :- https://www.datamintelligence.com/research-report/coating-resins-market
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