Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
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.
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.
Our-in depth analysis of the global Electrocoating (E-coat) market includes the following segments:
Global e-coat market is further classified on the basis of region as follows:
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.
Overview of the Parent Market
Analyst View
Segmentation
The global Electrocoating market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
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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