Press release
The Global Electrocoating (e-coat) Market is Projected to Reach at Phenomenal Revenue of USD 4.6 Billion by the end of 2024
Electrocoating (E-Coat) Market
The global electrocoating (e-coat) market is segmented into application such as automotive, heavy duty equipment, building & household products, bulk finishing, decorative, military & defense, sports & recreation, agricultural, appliances and others, out of which automotive segment accounted for the largest market of overall electrocoating (e-coat) market in 2016. Additionally, increasing number of cars on roads along with introduction of vibrant colors is expected to flourish the growth of global automotive electrocoating (e-coat) market. Moreover, growing demand for electrical products coated with metallic paints is projected to foster the growth of electrocoating (e-coat) market over the forecast period.
Global electrocoating (e-coat) market is expected to showcase a tremendous CAGR of 4.6% over the forecast period i.e. 2017-2024. Additionally, the market is riding on the back of growing automotive industry. Moreover, the global electrocoating (e-coat) market is anticipated to account noteworthy revenue of USD 4.6 Billion by 2024.
In terms of regional platform, Asia-Pacific region accounted for the lion share in the global market for electrocoating (e-coat). Moreover, presence of large automotive industry along with growing demand for metallic paints in passenger cars owing to consumer inclination towards sparkling and attractive colors is envisioned to fuel the demand for electrocoating (e-coat).
Moreover, China and India are dominating country in this region owing high demand for electrocoating (e-coat) from various industries. Apart from this, Europe region is believed to witness significant growth owing to positive economic growth. Moreover, rapidly growing automotive industry in this region is envisioned to supplement the growth of electrocoating (e-coat) market.
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Increasing Demand for Electrocoating (e-coat)
Advancement in coating technology in order to improve the corrosion-resistance and rising spending in research & development activities are believed to be the dynamic factor behind the rapid growth of electrocoating (e-coat) market. Furthermore, advancement in electrocoating (e-coat) such as DOE matrix is also expected to foster the growth of electrocoating (e-coat) market.
Booming Various Industries
Swift growth of numerous industries such as automotive, electronics, marine and others on the back of favorable government initiatives is believed to bolster the growth of market of electrocoating (e-coat) by the end of forecast period. In addition to this, renovation and remodeling of houses and buildings throughout the globe is also projected to augment the demand for electrocoating (e-coat).
On the contrary, presence of other alternatives such as solvent based coatings is one of the major factors hampering the market of electrocoating (e-coat) all across the globe.
The report titled “Electrocoating (E-Coat) Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global electrocoating (e-coat) market in terms of market segmentation by product type, by application, by distribution channel and by region.
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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.
This report also provides the existing competitive scenario of some of the key players of the global 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 global 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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