The global E-Coat Market is forecast to reach USD 4.84 Billion by 2027, according to a new report by Reports and Data. The rising electricity usage, mainly in the emerging economies, has led to the extension of power production projects, which will trigger the type demand moreover will succeed in stimulating the overall E-Coats market size by 2027. Growing demand from energy transformation and electronics types is another circumstance affecting the business growth.
A meaningful portion of the application is anticipated to be arising from developed nations. For example, the installed capacity of large transformers in the U.S. is quite frequent. However, those transformers are aging and hence generate the need to restore the current foundation with new connections, which will help drive demand, thereby increasing E-Coats market size by 2027.
The automotive companies have preceded the leaning of color customization in vehicles, especially in customer care, which is expected to drive the market. In addition, an increase in the disposable income of consumers in developing economies has fueled passenger cars' demand.
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Top Leading Players in The Global E-Coat Market Are:
Axalta Coating Systems, PPG Industries, Inc., BASF, Nippon Paint Holdings Co., Ltd., The Valspar Corporation, Tatung Fine Chemicals Co .Ltd, KCC Corporation, Luvata OY, Hawking Electrotechnology Ltd, Noroo Paint Coatings Co., Ltd among others.
Further key findings from the report suggest:
- In the segment of Type the highest CARG is seen in the sub segment of Cathodic Epoxy of about 4.4% compared to other sub segment. Apart from this, technological innovation and development associated with e-coat such as DOE matrix is one of the key factors fueling the growth of the global Electro coating market.
- Cathodic acrylic electro coat materials is forecasted to grow with a CAGR of 4.3% during the forecast period.
- Technological modifications are supposed to drive the growth of the Global E-Coat Market. The growth of the automotive division in emerging economies and the potential for e-coat from the shipbuilding pipeline industries are expected to perform growth opportunities for the market.
Segments covered in the report:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Cathodic Epoxy
- Cathodic Acrylic
- Anodic
Technology Type Outlook (Revenue, USD Billion; 2017-2027)
- Epoxy Coating Technology
- Acrylic Coating Technology
Application Outlook (Revenue, USD Billion; 2017-2027)
- Passenger Cars
- Commercial Vehicles
- Automotive Parts
- Heavy-Duty Equipment
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E-Coat Market Upcoming Growth:
E-coat, also known as electrodeposition coating, is a method of applying a paint or coating to a metal surface using an electric current. The e-coat market is expected to grow due to the increasing demand for durable and corrosion-resistant coatings in various industries such as automotive, aerospace, and construction.
The growth of the automotive industry is expected to drive the demand for e-coat, as car manufacturers use e-coat to provide corrosion protection to car bodies and parts. The increasing demand for lightweight vehicles is also expected to boost the growth of the e-coat market, as e-coat can be applied to lightweight materials such as aluminum.
The construction industry is also expected to contribute to the growth of the e-coat market due to the increasing demand for corrosion-resistant coatings in infrastructure projects.
In addition, the development of new e-coat technologies such as UV-curable e-coat and powder e-coat is expected to create new opportunities for growth in the market.
Overall, the e-coat market is expected to experience steady growth in the coming years due to the increasing demand for corrosion-resistant coatings in various industries.
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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