Coating equipments are heavy machineries that are deployed by different industries to coat different items such as appliances, automobiles, and bicycles to protect them from abrasion, corrosion, wear & tear and rust. Coatings increase the lifespan of tools and have different purpose, decorative, functional or both. The global coating equipment market is projected to expand at a CAGR of approximately 5% and attain USD 20 Bn over the next couple of years, reveals a research report by Market Research Future (MRFR). The surge in demand for coating equipment can be attributed to rising demand for customized coating equipment in end-users industries, application in various industry verticals including construction, aerospace, automotive, and industrial. Also, rapid industrialization in building and manufacturing in developing nations aids in market growth. Growing use of layering in household appliances, automobiles, and other products coupled with increasing use of heavy machineries in the manufacturing sector will also augment the market for coating equipment. Developments in the agriculture sector in terms of machineries also provides growth opportunities for the market since machineries typically require coatings. The shift in many industries towards the use of standardized coating equipment due to the availability of capital led by economic development in emerging countries has augmented the market for coating equipment. Coatings contain volatile organic compounds and rising environmental concerns relating to coatings have resulted in reduced use of solvent-based coatings in several countries which is impeding the market for coating equipment. This has, in turn, escalated the demand for powder coating equipment and is expected to drive the market for coating equipment. Moreover, R&D activities to develop advanced equipment also spur the growth of the market. Technological advancement such as sputtering and ion deposition in the equipment which provides high quality and precision is expected to drive the market. However, these advancements have resulted in high costs of installation and maintenance and are expected to restrict the growth of the market. The high cost of manufacturing coupled with the rise in the price of crude oil which is used as raw material in the coating process and other raw materials such as plastics, metal parts, electric components and electronic circuits are restraints to the market.
Segmentation
The global coating equipment market has been segmented based on type, and end-user. By type, the market has been segmented into liquid coating equipment, powder coating equipment, and specialty coating equipment. By end-users, the market has been segmented into automotive, aerospace, industrial, and construction.
Regional Analysis
The principal markets of the global coating equipment market are North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). Asia-Pacific is foreseen to be the largest market for coating equipment owing to ongoing industrialization in the region and escalated demand for consumer appliances. Moreover, the region is attracting international market players for the setup of manufacturing units due to overall low operating costs and availability of comparatively cheap labor. China is the principal contributor in the region. North America market is also consolidated due to the presence of heavy industries in the region. Europe is a significant market due to the concentration of many prominent market players.
Competitive Landscape
The global coating equipment market is highly competitive with the presence of few significant players. The key vendors operating in the market include Nordson Corporation (U.S.), Graco Inc. (U.S.), IHI Ionbond AG (Switzerland), SATA GmbH & Co. KG. (Germany), Anest Iwata (Japan), and O.C. Oerlikon (Switzerland).
Industry Updates
In June 2018, Kroenert, a manufacturer of customized coating and printing systems developed a coating unit which will facilitate siliconizing both sides of a web simultaneously. Claimed to be first of its kind, the coating unit is an outstanding addition to the company's portfolio.
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