Research Reports

Market Overview

• The Global Coating Equipment Market is expected to grow at a CAGR of 5.65% during the forecasting period (2019-2026).
• Coating equipment are used for coating or surfacing industrial parts, metals, components, products or materials to protect them from corrosion. Increase in the application of coatings in various industry sectors are driving the market, and it is predicted to grow at a robust CAGR over the forecast period.

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Market Dynamics

• Growth in the automotive, construction industry is one of the major factors that is driving the market. These coatings are used to protect automotive products from corrosion caused due to the presence of fluorides/chlorides or organic acids, extreme temperatures, UV rays, chemicals, and abrasion or water. Thus, an increase in automotive vehicle production increases the demand for coating equipment. Also, these are used for corrosion control for structures and buildings made from steel and metals such as bridges, underground pipelines, buildings which will boost the market further.
• For instance, according to OICA, the global production volume of automotives grew by approximately 25% between 2000 and 2017.
• Coating equipment are expensive, and it requires large number of additional parts and accessories which further builds up the product cost. Also, high installation cost hinders the global coating equipment market.

Segment Analysis

• Based on application the global coating equipment market is broadly segmented as automotive, aerospace, furniture, construction and others. Among all these, aerospace accounted for major market share and is expected to grow at a high CAGR over the forecast period. Coatings in the aerospace industry are used to enhance the performance and protect the substrates of aircraft components. The steady growth of the aerospace industry is boosting the growth of the coating equipment market. For instance, according to American Institute of Architects (AIA), in 2017, the US aerospace industry had exported aircrafts and engine parts, valued approximately USD 7,799 million.
• Based on coating type the global coating equipment market is segmented into powder coating, specialty coating, liquid coating, and others. Among all these, powder coatings occupied the major market share and is projected to grow at the fastest rate during the forecast period. Using this type of coating, the excess material can be retrieved, which reduces the amount of waste. Additionally, the cost of applying powder coating is less than a liquid system in the long-term, and it has low volatile organic compound content.

Geographical Analysis

• The global coating equipment market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific occupies the dominant share in the coating equipment market and is expected to grow at a CAGR of XX% in the forecast period. It is owing to continuous growth construction, automotive and manufacturing industries. Also, the shift of global competitors towards emerging economies due to rapid industrialization and cost-effective labor and low initial investments. Additionally, increasing investment by government in the transportation, building and infrastructure sectors. For instance, according to Construction Industry Council (CIC), it is expected that during 2017-2021, the Asia Pacific’s construction output will increase by 3.3%.

Competitive Analysis

• Significant players of global coatings equipment market are Nordson Corp, OC Oerlikon, SATA, ASAHI Sunac Corp., Graco, Praxair surface technologies, Anest Iwata, J. Wagner, Carlisle Companies, WIWA Wilhelm Wagner and others. Majority of these companies have been adopting key strategies such as new product launches, acquisitions and mergers to expand its production and customer base and to maintain its share in the global coating equipment market. For instance, in September 2018, OC Oerlikon opened its second production center in Slovakia. In May 2018, Ionbond, a subsidiary of IHI Corporation, expanded its coating capacity at its coating service center in France. In July 2018, Carlisle Fluid Technology, a division of Carlisle Companies, opened its new building in Bournemouth, UK.

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