Coating Equipment Market, By Type (Powder coating equipment, Liquid coating equipment, Specialty coating equipment), By End-user (Automotive & Transportation, Aerospace, Industrial, Building & Infrastructure), By Material (Polyester, Polyurethane, Acrylic, PVC, Epoxy, Silicon), By Applications (Brushed, dipped or sprayed, Diffusion, Laser Processing, Plating, Thermal Spray, Vapor Diposition), By Distribution Channel (Wholesale and Distributor Business, Retail Distribution Channel), and By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting To 2030.

The Global Coating Equipment Market was estimated to value USD 20,425.98 Million in 2021 and is projected to grow at a CAGR of 6.92% during the forecast period, as per a recent comprehensive market study by Quince Market Insights. Coating equipment can be described as the equipment which is designed to industrialise the liquid gasket coating procedure on mass production lines. This machinery heightens the productivity and even distribution of the coating material over the optimum drying, substrate, and proper mixing of different components of the material being coated.

Coating is a type of covering which is used on a surface to increase its aesthetic properties or efficient. Paints is a vital type of coating. There is a wide range of applications in which paints are utilized, for example in industrial, automotive, building and construction, utility, marine, medical, electrical and electronics, and oil & gas sectors.

Electric vehicles are one of the vital users of coating equipment. Coatings play an important role in the shielding of the substrates of electric vehicles and its various parts from rust and other harms. It also plays a remarkable role in imparting aesthetic characteristics to electric vehicles. The increasing use of coatings and coated electronic devices used in electric vehicles is another major factor which is driving the demand of coating equipment.

Furthermore, governments promote electric vehicles by providing subsidies on every purchase, encouragement for setting up charging stations and provides funds for the expansion of electric battery technology owing to the growing climate change which is a major concern. These plans are playing a major role in the expansion of electric mobility. Various governments are setting up the targets for adoption of electric vehicles and charging stations. Moreover, the expansion of key technologies regarding electric vehicle is also enabling considerable cost reduction. This is boosting the growth of the electric vehicles industry as well as fuelling the demand for coating equipment market.

Continuous expansion in coating equipment and coating processes are driving the coating equipment market in various applications. Use of customized coating equipment is needed for end-user industries like aerospace, automotive & transportation, and other sectors. In order to meet customer’s need coating equipment manufacturers are continuously conducting R&D and are expanding advanced equipment.

Technological advancement in coating equipment are helpful in order to achieve long-lasting and faster coating processes. The powder coating equipment market is driven by the expansion and development of tribo guns. One coating manufacturer has developed a new coating that can eliminate debris build-up and minimize air drag. The expansion and development of such new technology offers opportunities for market players to expand their market in new applications.

While selecting a product cost is an important factor.  The high assembling cost of the equipment as well as the initial cost of production is a challenge for the market. Providing a reasonable product with better performance is a challenging task for manufacturers. Production of quality equipment which is less expensive needs attentive research & development. Understanding the customer’s requirement and which could also meet the industrial need is the main challenge for coating equipment manufacturers.

The use of advanced coating equipment in all applications is not possible to be in budget. The choice of coating materials and the process for application is an important factor while considering the cost of equipment. For applications involving less stiff description and low volumes, the use of high-end coating equipment may not be a reasonable option. Conventional equipment such as rollers and brushes are of low-cost and are favoured in some application over other equipment. Therefore, the availability of low-cost alternative is a hinder in the coating equipment market in some applications.

TABLE 1: GLOBAL COATING EQUIPMENT MARKET OVERVIEW

TABLE 1: GLOBAL COATING EQUIPMENT MARKET OVERVIEW

COVID-19 Impact on Global Coating Equipment Market:

Owing to COVID-19 pandemic, disruption of supply chain, suspension of manufacturing operation, and declining demand for industrial goods had remarkable impact on the market. However, because of COVID-19 pandemic, the demand for pharmaceutical industry goods has uplifted which in turn have supported for the growth of coating equipment market. At the same time, owing to anxiety, people stock the hygiene products worldwide that drives the market. However, the end-use industries like foam and footwear were affected by the pandemic.

Segmentation:

By Type:

On the basis of type, the Global Coating Equipment Market is categorized into Powder Coating Equipment, Liquid Coating Equipment, Specialty Coating Equipment. Specialty Coating hold the largest market share during the projected period. The demand for reliable and long life protective coatings is on the rise owing to the use of coatings in different applications including hazardous industrial equipment and high risk. Which in turn drive the market for coating equipment.

By End Use Industry

On the basis of End Use Industry, the Global Coating Equipment Market is bifurcated into Automotive & Transportation, Aerospace, Industrial, Building & Infrastructure. Automotive Industry is the leading market and hold the largest market share during the projected period. The rise in sales of automobiles is driving the market growth. The extensive use of coatings in automobiles to protect the parts from corrosion as well as to enhance their look is the major growth-promoting factor. Furthermore, the increasing disposable income of people is also increasing global vehicle sales.

By Material

On the basis of material, the Global Coating Equipment Market is bifurcated into polyester, polyurethane, acrylic, PVC, epoxy, silicon. Among these acrylic hold the largest market share during the projected period. Acrylics are used in a broad range of applications in paints & coatings industry, right from architectural coatings to the industrial coatings. Acrylic shows photochemical resistance, good chemical, good colors and gloss retention properties which are cost efficient, easy to handle, and exhibit superior performance in a wide range of applications like wall coating, roof coating, interior and exterior paints, and others.

By Application

On the basis of application, the Global Coating Equipment Market is bifurcated into brushed, dipped or sprayed, diffusion, laser processing, plating, thermal spray, vapor diffusion. Brushed, dipped or sprayed holds the largest market share in terms of revenue during the projected period owing to protect them from degradation & corrosion and extend their effective lives with reduced maintenance and parts replacement costs. Equipment coating can also help in the restoration of refurbished equipment to the quality that is almost equal to their original condition.

By Distribution Channel

On the basis of distribution channel, the Global Coating Equipment Market is categorized into wholesale and distribution business, retail distribution channel. The retail channel is holding the largest market share owing to population's usability and easiness to purchase.

Wholesale delivery has also moved to electronic channels which have linked retailers from around the world and meet customer’s need.

By Region

On the basis of region, the Global Coating Equipment Market is bifurcated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia pacific is projected to be the fastest-growing coating equipment market during the projected period. industrial development, high population growth, increase in demand for automobiles, and growing demand for coatings with better efficiency in the region is driving the Coating Equipment Market. The market in the region is witnessing significant growth owing to the presence of growing economies such as China, India, and ASEAN countries such as Thailand and Indonesia.

TABLE 2: GLOBAL COATING EQUIPMENT MARKET OVERVIEW

TABLE 2: GLOBAL COATING EQUIPMENT MARKET OVERVIEW

Major Developments in the Global Coating Equipment Market:

  • In October 2019, Alltimes Coatings Ltd announced the launch of Advantage Graphene liquid coatings roofing system which will enhance the performance while provides cost effective solution due to their excellent corrosion resistant performance.
  • In 2020, Tosoh Corporation Company launched the full-scale operation of its new main research building located in Shuan city, China.
  • In February 2020, Dow Inc. The company had announced the expansion of Canada based ethylene production facility by 130 kilotons.
  • In 2020, Ineos Group acquired 100% shares in its joint venture "Gemini HDPE" with Sasol Chemicals. The company produces high high-density polyethylene in LA Porte, Texas.

Major Companies operating in Global Coating Equipment Market:

Nordson Corporation (U.S), Anest Iwata (Japan), Graco Inc. (U.S), O.C. Oerlikon (Swizerland), IHI Ionbond AG (Swizerland), and SATA GmbH & Co. KG (Germany)

By Type

  • Powder Coating Equipment
  • Liquid Coating Equipment
  • Specialty Coating Equipment

By End-Use Industry

  • Automotive & Transportation
  • Aerospace
  • Industrial
  • Building & Infrastructure

By Material

  • Polyester
  • Polyurethane
  • Acrylic
  • PVC
  • Epoxy
  • Silicon

By Application

  • Brushed, Dipped or Sprayed
  • Diffusion
  • Laser Processing
  • Plating
  • Thermal Spray
  • Vapor Diffusion

By Distribution Channel

  • Wholesale & Distribution Business
  • Retail Distribution Channel

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Middle East & Africa
  • South America

 COATING EQUIPMENT MARKET

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