Sarasota, FL, Nov. 14, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Plastic Coating Market (Acrylic, Polyurethane, Epoxy and Other Process) by Process (Powder Coating, DIP Coating, Electrophoretic Painting, Spray Coating and Other Process) for Aerospace and Defense, Automotive, Medical, Building and Construction and Other End User: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, global demand for plastic coating market was valued at over USD 5.62 billion in 2015, is expected to reach above USD 7.74 billion in 2021 and is anticipated to grow at a CAGR of slightly above 5.48% between 2016 and 2021.
The plastic coating provides the metals with thick, wear-resistant finish that can exclude water and air from the surface of the metal to prevent corrosion. There has been tremendous growth in the use of plastic coatings in the automotive industry due to the growing concern of carbon emissions from the conventional coatings. The plastic coating is carried out using four major processes such as powder coating, dip coating, electrophoretic painting, spray coating, and another process.
Browse through 24 Market Tables and 28 Figures spread over 110 Pages and in-depth TOC on “Global Plastic Coating Market: By Type, Process, End-Use, Size, Growth, Industry Trends, Segments and Forecast 2015-2021”.
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Plastic coatings are widely used in automobile industry for coating the battery trays, seat springs radiator grilles, brackets, door handles, filler pipes, and seat belt loops. The plastic coating is easy to use and cost efficient. Therefore increasing demand for plastic coating in the automotive industry is expected to drive the market for plastic coating. Rapidly developing industrialization and urbanization in emerging economies is expected to boost the growth of this market. However, huge impact on the environment due to VOC emissions may hamper the growth of plastic coating market. Nonetheless, ongoing research for the introduction of the bio-based coating is anticipated to propel the growth of plastic coating market in the forecast period. Moreover, growing demand from the emerging countries for the plastic coating market is likely to offer new opportunities in the coming years.
Some of the major plastic coating types are acrylic, polyurethane, epoxy and other types. Polyurethane provides enhanced moisture resistance with high flexibility. Polyurethane is the leading segment due to various end user applications. The plastic coating process includes powder coating, dip coating, electrophoretic painting, spray coating, and another process. Dip coating is the most efficient segment owing to its ease of application and require less machinery as compared to another coating process. Some of the major end users of the plastic coating are aerospace and defense, automotive, medical, building and construction and another end user. Among all, the automotive segment dominated the plastic coating market with significant market share in 2015. The plastic coating is extensively used in the automotive industry for attaining high strength and better adhesion which significantly contributes to the growth of plastic coating market.
Browse the full "Plastic Coating Market (Acrylic, Polyurethane, Epoxy and Other Process) by Process (Powder Coating, DIP Coating, Electrophoretic Painting, Spray Coating and Other Process) for Aerospace and Defense, Automotive, Medical, Building and Construction and Other End User: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/plastic-coating-market
Europe dominated the plastic coating market and is predicted to witness significant growth over the coming year. Increasing demand for the plastic coating in Germany due to automobile industry may spur the growth of plastic coating in Europe. Europe is regaining its economical strength after the economic crisis of 2012 which has resulted in high consumption of plastic coating in several industries for improved durability with enhanced performance. The plastic coating is highly utilized in automobile and aerospace and infrastructure sector. The building & construction sector contributes around 9% to the GDP of the European Union, the, therefore, the construction industry is considered to be the vital part of the Europe’s economy. This factor is expected to fuel construction market in Europe which in turn is likely to boost the plastic coating market in the coming years.
North America accounted for the second largest market in 2015. This was mainly attributed to the presence of automated industries in U.S. Furthermore, stringent rules imposed by North American government for use of conventional coating have led to the use of the eco friendly plastic coating. This factor is expected to bolster the demand for plastic coating market in North America in the coming years.
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Asia-Pacific is expected to grow at the faster pace for the plastic coating market in the forecast period. Asia-Pacific is the largest market for building and construction segment. It accounted for 40.5% of total share for building and construction in 2014. Rising demand for automobiles has massively increased the automobile industry resulting in the growth of plastic coating market. China is foremost due to wide automobile industry because of the existence of a large number of investors. Rapidly growing industrialization in Asia Pacific is anticipated to fuel the growth of plastic coating market in the coming years. Coating industry is massively building its root over Asia Pacific, therefore, bolstering growth of the plastic coating market.
Latin America, Middle East, and Africa are likely to experience decent growth over the coming years. This is mainly attributed to the growing urbanization and industrialization in Brazil. In 2011, Brazil attained a record of 3.63 million automobiles sold and additionally, stood as the seventh largest producer in the world with 3.4 million automobiles in the year 2012. Therefore, this factor is expected to trigger the growth of automotive market which in turn will bolster the growth of plastic coating market. Escalating infrastructure industry in Middle East and Africa is anticipated to specter luster growth for plastic coating market.
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Some of the global major players in the plastic coating are Akzonobel N.V., BASF SE, PPG Industries, Inc., 3M, Kansai Paint Co., Ltd, Diamond Vogel Paints, Wacker Chemie AG, Bayer AG, Eastman Chemical Company, Valspar Corporation, Axalta Coating Systems Ltd. AkzoNobel NV, Nippon Paint Co. Ltd. among others.
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This report segments the plastic coating market as follows:
Plastic Coating Market: Type Analysis
Plastic Coating Market: Process Analysis
- Powder coating
- Dip coating
- Electrophoretic painting
- Spray coating
Plastic Coating Market: End User Analysis
- Aerospace and defense
- Building and construction
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Plastic Coating Market: Regional Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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