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The liquid, powder and speciality coating equipment market size is estimated to grow at a CAGR of 5.48% between 2022 and 2027 and the size of the market is forecast to increase by USD 5,418.04 million. The growth of the market depends on several factors, increased automation, the growing real estate and construction industry, and the automotive industry driving demand for liquid, powder, and specialty coatings.
This report extensively covers market segmentation by product (liquid coating equipment, powder coating equipment, and specialty coating equipment), application (construction, industrial, automotive, aerospace, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our analysis of the adoption life cycle of the market indicates its movement between the innovator’s stage and the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Liquid, Powder and Speciality Coating Equipment Market Customer Landscape
Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The growing real estate and construction industry is a key factor driving the market growth. The global expansion of the real estate and construction sector has prompted a rise in office spaces, commercial complexes, and residential buildings, driving the demand for liquid, powder, and specialty coatings favored in construction and structural applications. Developing countries, experiencing rapid urbanization and robust infrastructure investments, fuel the construction industry's growth.
Population growth spurs housing and infrastructure demands, making reflective and seamless architectural liquid, powder, and specialty coatings increasingly popular in interior and exterior finishing. China and India, notable in APAC, contribute to the growth of the global liquid, powder, and specialty coatings equipment market.
Growing adoption of UV-curable coatings is a key trend shaping the liquid, powder and speciality coating equipment market. UV-curable coatings offer high performance and swift assembly benefits, with growing research and development focusing on scratch and mar resistance, driving the global liquid, powder, and specialty coatings equipment market. Notably, BASF produces UV-curable acrylic monomers and oligomers from multi-functional polyol intermediates. Though currently a small segment, UV-curable coatings are predicted to rise due to automotive OEM adoption.
Stricter regulations by entities like the EPA and China's Ministry of Environmental Protection push eco-friendly coatings like UV-curable and waterborne options. Their durability, appearance, and weather resistance boost demand, particularly in automotive, industrial, furniture, metal, and flooring applications. This trend will likely propel the global liquid, powder, and specialty coatings equipment market's growth.
Regulations on high emissions of VOC in liquid, powder, and specialty coatings is hindering the market growth. Volatile Organic Compounds (VOCs) are present in solvent-based paints, coatings, sealants, adhesives, and organic solvents, contributing to air pollution and smog. In January 2021, US regulations limited VOC emissions from these products, set by the Environmental Protection Agency (EPA). The Solvent Emissions Directive (SED) sets European thresholds for liquid, powder, and specialty coatings. Stringent regulations decrease demand, impacting equipment manufacturers and users. High emissions of VOCs will hinder the global liquid, powder, and specialty coating equipment market's growth during the forecast period.
The liquid coating equipment segment will account for a major share of the market's growth during the forecast period. The liquid coating equipment segment was valued at USD 6,438.54 million in 2017 and continued to grow until 2021. Liquid coating equipment uses hand-held or automatic spray equipment to perform the wet finishing process. Liquid coatings are the most versatile application method as they offer a highly customizable finish that can be adapted to a variety of protective and production needs.
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The introduction of innovative liquid, powder, and specialty coating products and the increasing demand for specialty coatings are the major drivers of liquid coating line development. The increasing trend of introducing UV-curable nanoparticle-based inks and coatings is expected to drive the growth of the liquid coating equipment segment of the global liquid, powder and specialty coating equipment market during the forecast period.
The construction sector is poised for significant growth throughout the forecast period, emerging as a key consumer of the global liquid, powder, and specialty coating equipment market. Within construction, these coatings serve both protective and decorative roles. Liquid, powder, and specialty coatings encompass paints, primers, varnishes, and lacquers, extensively employed in residential construction.
Various resins like epoxies, alkyds, polyurethanes, polyureas, acrylics, and additives are utilized to create these coatings, endowing them with attributes like fire and water resistance, UV protection, and microbial defense. Some coatings also provide a glossy finish, enhancing interior aesthetics. As global construction activity grows consistently, the demand for these coatings will surge, propelling the segment's expansion in the forecast period.
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APAC is estimated to contribute 35% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The regional market is mainly driven by the growth of industries such as construction, automotive, and aerospace. China, India, Japan, and Australia are major contributors to the market growth in this region.
Demand for liquid, powder and specialty coating equipment in APAC is greatly driven by the growing automotive industry. Increasing sales of passenger and commercial vehicles in the Asia-Pacific region, especially China, India, and Japan are driving the growth of the liquid, powder and specialty coating equipment market. In 2022, the Federation of Indian Automobile Dealers Associations (FADA) reported 21,120,441 retail sales of passenger cars and tractors in India. This represents a 15% increase in revenue compared to 2021. Such trends will increase the demand for liquid, powder and specialty coating equipment and are expected to drive the growth of the regional market during the forecast period.
A significant increase in the number of COVID-19 cases led to partial or full lockdowns in various countries in the region, adversely affecting liquid, powder and specialty coating facilities. Supply chain disruptions led to unmet demand for industrial coatings across various industries, such as automotive and construction, which hampered the growth of the regional market for a short period of time. However, the number of COVID-19 cases declined with increased vaccination campaigns against COVID-19. Industrial manufacturing site operations recovered gradually during 2021-2022, which fostered the growth of the regional market.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ANEST IWATA Corp.: The company offers liquid, powder and specialty coating equipment such as stainless steel MSU11N multi spray system.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including:
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies vendors into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The liquid, powder and speciality coating equipment market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Liquid, Powder and Speciality Coating Equipment Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.48% |
Market growth 2023-2027 |
USD 5,418.04 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.02 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 35% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aja International Inc., ANEST IWATA Corp., Asahi Sunac Corp., Beneq Oy, Blosch AG, Buhler AG, Carlisle Companies Inc., CVD Equipment Corp., Exel Industries, Graco Inc., High Temperature Superconductors Inc., IHI Corp., J Wagner GMBH, KOLZER SRL, Miba AG, Nordson Corp., OC Oerlikon Corp. AG, SATA GmbH and Co. KG, Semicore Equipment Inc., T-M Vacuum Products Inc., and ULVAC Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and mrket condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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