Global Electrocoating (E-coat) Market, By Type (Cathodic Epoxy, Cathodic Acrylic, Anodic), Application (Passenger Cars, Commercial Vehicles, Automotive Parts and Accessories, Heavy-Duty Equipment, Appliances, Others) – Industry Trends and Forecast to 2029.
Global Electrocoating (E-coat) Market Analysis and Size
Over the last few years, there has been immense growth in the chemical industry. Additionally, there has been strong development in manufacturing sector, which have significantly contributed to the lubricants market, which further increases the overall growth for the market.
- Global Electrocoating (E-coat) Market was valued at USD 3.80 million in 2021 and is expected to reach USD 5.53 million by 2029, registering a CAGR of 4.8% during the forecast period of 2022-2029. The "PFPE-K" accounts for the largest type segment in the electrocoating market owing to its increased application in the manufacturing of engines and machines. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Global Electrocoating (E-coat) Market Definition
E-coat, also referred as electro-coat, is an immersion process that coats conductive parts with electrically charged particles deposited from a water suspension. The applied voltage determines the thickness of the coating. Through a revolutionary technology, the e-coat, or electronic coat, is electrically charged. Water suspension is used to provide voltage to these coats in proportion to their thickness. The primary function of the technology in these coats is to attract opposing charges. It's a painting technique that uses an electric current to settle the paint. Water-based paint solutions are used to coat the metal portion.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Cathodic Epoxy, Cathodic Acrylic, Anodic), Application (Passenger Cars, Commercial Vehicles, Automotive Parts and Accessories, Heavy-Duty Equipment, Appliances, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Allnex GmbH (Belgium), Arkema (France), IFB Industries Limited (India), Solvay (U.S.), FAWER Y-TEC Automotive Chassis System Co.,Ltd (China), Axalta Coating Systems (U.S.), PPG Industries, Inc. . (U.S.), BASF SE (Germany), Nippon Paint Holdings Co., Ltd. (Japan), Valspar (U.S.), Tatung Fine Chemicals Co., Ltd. (Taiwan), KCC Corporation (Korea), Luvata Oy (Finland), Hawking Electrotechnology Limited (U.K.), and NOROO Paint & Coatings Co., Ltd. (South Korea)
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Market Opportunities
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Electrocoating (E-coat) Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
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High Utilization Across End Users
Electrocoating is widely used in the industry to coat products in a variety of categories, including appliances, automobiles, automotive parts, transformers, metal office furniture, and much more, due to its ability to coat even the most complex parts and assembled products while meeting specific performance requirements.
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Environmental Advantages
The low volatile organic compound products are employed in e-coating, which further results in products that are free of dangerous air pollutants. It provides a number of environmental benefits, including reduced solid waste, reduced fire hazard with water-based components, and lower pollutant levels in waste streams. Regulatory concerns also operate as a market driver for e-coat, as fewer volatile organic compounds are recommended. Electrocoating are materials with a lot of potential in the appliance market because of their diverse characteristics. UV protection, electrical conduction and durability are just a few of these products' features.
The high demand for the passenger cars, heavy-duty vehicles and commercial vehicles will further create high requirements for e-coatings, which will further propel the growth rate of electrocoating (E-coat) market. Additionally, the low-cost coating will also drive market value growth. The superior performance and better properties of electrocoating (E-coat) are projected to bolster the growth of the market.
Opportunities
- Environmental Regulations, Attractive Prospects and Developments
Furthermore, various developments by the market players and significant investments in research and development activities which further enhance the applications of product, extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the imposition of strict green environmental regulations along with the attractive prospects for e-coat from the shipbuilding and pipeline industries will further expand the future growth of the electrocoating (E-coat) market.
Restraints/Challenges Global Electrocoating (E-coat) Market
- High Cost
The high capital cost of equipment will create hindrances for the growth of the electrocoating (e-coat) market.
- Need For Different Processing Tanks
The different colors basically requires different processing tanks, which will pose as a major challenge for the market.
This electrocoating (E-coat) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the electrocoating (E-coat) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Electrocoating (E-coat) Market
The recent outbreak of coronavirus had a negative impact on the electrocoating (E-coat) market. Many companies have stated that the disruption in component supply from multiple nations caused by COVID-19 will have an impact on their planned production. The severe disruptions in various manufacturing as well as the supply-chain operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease les to huge financial setback for the market.
The ongoing COVID-19 outbreak in a number of nations has disrupted the supply of several manufacturing facilities. Almost every employee in every organization has been impacted by the pandemic, which has resulted in job losses and compensation reductions. The COVID-19 epidemic is one of the first of its type, requiring the automotive sector to reconsider its strategy. The automobile portion of the business may recover quickly, but it will take a long time for the overall market to recover following the lockdown. Over the forecast period, the aforementioned determinants will weigh on the market's revenue trajectory.
Global Electrocoating (E-coat) Market Scope
The electrocoating (E-coat) market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Cathodic Epoxy
- Cathodic Acrylic
- Anodic
On the basis of type, the electrocoating (E-coat) market has been segmented into cathodic epoxy, cathodic acrylic and anodic.
Application
- Passenger Cars
- Commercial Vehicles
- Automotive Parts and Accessories
- Heavy-Duty Equipment
- Appliances
- Others
On the basis of application, the electrocoating (E-coat) market is segmented into passenger cars, commercial vehicles, automotive parts and accessories, heavy-duty equipment, appliances and others.
Electrocoating (E-coat) Market Regional Analysis/Insights
The electrocoating (E-coat) market is analyzed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the electrocoating (E-coat) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the electrocoating (E-coat) market because of the enhancing transport making in the United States. Besides, rising orders for e-coat in army and security devices along with construction and home commodities is supposed to enlarge the market extension over the forthcoming cycles within the region.
Asia-Pacific on the other hand, is estimated to show lucrative growth during the forecast period of 2022 to 2029 due to the mounting requirement from the automotive division in the emerging economies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electrocoating (E-coat) Market Share Analysis
The electrocoating market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electrocoating market.
Some of the major players operating in the electrocoating market are
- Allnex GmbH (Belgium)
- Arkema (France)
- IFB Industries Limited (India)
- Solvay (U.S.)
- FAWER Y-TEC Automotive Chassis System Co.,Ltd (China)
- Axalta Coating Systems (U.S.)
- PPG Industries, Inc. . (U.S.)
- BASF SE (Germany)
- Nippon Paint Holdings Co., Ltd. (Japan)
- Valspar (U.S.)
- Tatung Fine Chemicals Co., Ltd. (Taiwan)
- KCC Corporation (Korea)
- Luvata Oy (Finland)
- Hawking Electrotechnology Limited (U.K.)
- NOROO Paint & Coatings Co., Ltd. (South Korea)
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