Coating Equipment Market Overview
Market Research Future (MRFR)’s new detailed study reveals that the global coating equipment market 2022 can reach an approx. valuation of USD 30 billion by 2025-end. The market is also set to expand at a decent rate of 5.5% between 2022 and 2030.
Coating equipment refers to a diverse range of machinery and devices used in various industries to apply coatings, films, or protective layers onto surfaces of different materials. Coatings can serve multiple purposes, such as enhancing aesthetics, providing corrosion resistance, improving durability, adding functionality, and promoting adhesion.
The demand from power, aerospace & defense, and oil & gas sector is anticipated to bolster the development of the coating equipment industry. The surge in industrial coating equipment demand is expected to prompt significant development of the coating equipment market in the impending period. The mounting call for replacement of present coating systems is likely to motivate the coating equipment market in the approaching period.
Key Players
The prominent contenders in the coating equipment market are
- ASAHI SUNAC CORPORATION (Japan)
- Anest Iwata (Japan)
- Nordson Corporation (U.S.)
- Graco Inc. (U.S.)
- C. Oerlikon (Switzerland)
- Carlisle Companies (U.S.)
- IHI Ionbond AG (Switzerland)
- Wagner GmbH (Germany)
- SATA GmbH & Co. K.G. (Germany)
- C. Oerlikon Management AG (Switzerland)
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Market Drivers:
Urbanization is on the rise, which is one of the main drivers driving growth. The development of heavy industries and the automotive industry is also essential to the growth of the world market for coating equipment. The market demand is also being driven by the essential need for coating in various ancillary industries including aviation, the medical sector, aerospace, and construction, among others.
The application of cutting-edge technology to the coating is anticipated to fuel market expansion. The way paint is coated is evolving because of the usage of nanotechnology, AI, IoT, and others in coating equipment. Modern, efficient technologies guarantee proper use, minimise waste, and are more dependable. Additionally, the market need is maintained by the ongoing requirement to switch out the current coating system with a new one.
Governments all throughout the world are taking action to make the paint business sustainable and environmentally friendly. Therefore, the prospects for the future market are improved by growing research and rising investments in eco-friendly coating.
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Segmental Analysis
- The segmental evaluation of the coating equipment market is conducted based on industry vertical, type, and region. Based on the types, the coating equipment market has been segmented into powder, liquid, and specialty coating equipment.
- Based on the regions, the coating equipment market has been segmented into Asia-Pacific, North America, Europe, and the rest of the regions.
- Based on the industry verticals, the coating equipment market has been segmented into aerospace, industrial, automotive, construction, and others.
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Regional Analysis:
The Coating Equipment market’s largest regional market is in Asia-Pacific. The region’s rapid economic and urban development is fostering market expansion. The largest regional market and the country with the highest projected CAGR will be China. The increased demand for consumer products and other industrial equipment is the cause of this growth. High industrial growth in Indonesia and India is another aspect that encourages growth. The second-largest market is found in North America. The expanding aerospace and defence industry accounts for a sizable portion of market revenue in this area. Additionally, it is anticipated that technological developments in coating equipment will accelerate market expansion.
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