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Extensive insights into the Growth of Electrocoating Market amidst COVID-19

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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. CLICK TO DOWNLOAD SAMPLE REPORT

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.

Market Segmentation

Our-in depth analysis of the global Electrocoating (E-coat) market includes the following segments:

By Product Type

Cathodic
- Cathodic Epoxy
- Cathodic Acrylic
Anodic
- Anodic Epoxy
- Anodic Acrylic

By Application

Passenger Cars
Commercial Vehicles
Automotive Parts & Accessories
Heavy Duty Equipment
- Agricultural Equipment
- Construction Equipment
- Military & Aerospace Equipment
Appliances
Others

By Distribution Channel

Original Equipment Manufacturer (OEM)
Aftermarket

By Region

Global e-coat market is further classified on the basis of region as follows:

North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

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.

Key Players

BASF SE
- Company Overview
- Key Product Offerings
- Business Strategy
- SWOT Analysis
- Financials
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.
NOROO Paint & Coatings Co., Ltd.