E-coat Market Overview
Electrocoating (E-coat), also known as electro coating, is a method of painting which uses electricity to condense the paint emulsion on the body or part of the material. The e-coat offers various advantages over other types of coatings. The first and foremost advantage is the uniform coating of the surfaces. Also, e-coat application results in less solid waste production as compared to other coating processes.
Market Size and Forecast
Global Electrocoating market was valued at USD 3.5 Billion in 2016. Further, global Electrocoating market is anticipated to flourish at a CAGR of 4.6% over the forecast period 2017-2024 and is likely to reach USD 4.6 Billion by the end of 2024. Rising demand for Electrocoating from various industries such as automotive and electronic appliance is expected to foster the growth of global e-coat market over the forecast period.
In the terms of region, Asia-Pacific accounted for the highest percentage of market share in 2016. Additionally, Asia-Pacific is anticipated to continue its dominance over the forecast period on the account of the increasing demand from the automotive industry. Further, spiked growth of electronic appliance industries is likely to provide robust growth to Electrocoating market over the forecast period. Moreover, set up of manufacturing facilities in Asia-Pacific region by key Electrocoating companies is envisioned to bolster the growth of Asia-Pacific Electrocoating market. China is the major country witnessing the augmented demand for E-coat products. Additionally, China accounted for highest consumption of Electrocoating in 2016 on the account of the largest number of automobile production in the world.
Europe Electrocoating market is expected to witness significant growth over the forecast period due to the presence of automotive manufacturers in the region. Further, rising construction activities in Western Europe is expected to propel the growth of E-coat market in Europe region. North America is anticipated to grow at significant pace over the forecast period owing to high disposable income coupled with increasing activity of renovation of houses and buildings.
Our-in depth analysis of the global Electrocoating (E-coat) market includes the following segments:
By Product Type
By Distribution Channel
Global e-coat market is further classified on the basis of region as follows:
Growth Drivers & Challenges
Rising demand from automotive industry is the major factor driving the growth of the global Electrocoating market. Over the past few years, automotive industry has witnessed high demand for color customization. Availability of Electrocoating in wide range of color and glosses are resulting in spiked adoption e-coat in automotive industry. Furthermore, acceptance to environmental regulation is resulting in the adoption of e-coat by various end-use industries. Moreover, electronic coat are widely used for coating electronic appliances as they offers resistance to corrosion and humidity. These factors are expected to augment the growth of the global e-coat market.
Rapid pace of construction and infrastructure development is one of the key factors fuelling the demand for Electrocoating. Consequently, renovation and remodeling of houses and buildings is boosting the electronic coat market. Apart from this, technological innovation and development associated with e-coat such as DOE matrix is one of the key factors fuelling the growth of the global Electrocoating market.
However, declining demand and production rate of agricultural equipment is anticipated to hinder the growth of the global e-coat market. Availability of alternatives such as solvent based coatings is likely to restrain the growth of this market.
Scope and Context
Overview of the Parent Market
The global Electrocoating market is segmented as follows:
Supply & Demand Risk
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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