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The liquid, powder and specialty coating equipment market size is forecast to increase by USD 5.79 billion at a CAGR of 5.6% between 2023 and 2028. The market is witnessing significant growth due to several key trends and factors. The increasing automation in coating processes is driving market growth, as it enhances productivity, reduces human error, and improves product quality. Additionally, the growing demand for electronic devices, particularly in the consumer electronics and automotive industries, is fueling the market's expansion. However, the high capital costs associated with these advanced coating systems remain a significant challenge for small and medium-sized enterprises (SMEs), limiting their adoption and potentially hindering market growth. Despite this, the market is expected to continue expanding due to the increasing demand for high-performance coatings in various industries, including aerospace, automotive, and medical devices. The market report forecast market size, historical data spanning from 2018-2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
The market is experiencing significant growth due to the increasing demand for liquid coating, powder coating, and specialty coating solutions across various industries. Liquid coating is widely used for substrates in automotive and transportation, aerospace, and building and construction sectors to prevent rusting, degradation, and corrosion. Powder coating, on the other hand, is popular for its ability to provide a protective and decorative layer on metal substrates through electrostatic application. Specialty coating, including physical vapor deposition, is gaining traction in the market due to its high corrosion resistance and use in coated electronic devices, electric cars, charging stations, and high-end machinery. Powder coatings, made from thermoplastic or thermoset polymers, offer superior rust damage protection compared to traditional liquid coatings. The market is expected to grow further due to the increasing demand for rust damage prevention in electric-powered vehicles and infrastructure.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The liquid coating equipment segment is estimated to witness significant growth during the forecast period. Coating equipment plays a crucial role in enhancing the protective and aesthetic characteristics of various substrates, including automotive and transportation, aerospace, building and construction, hygiene products, electric vehicles, and more. Liquid coating equipment is a popular choice due to its versatility, offering customizable finishes for rusting, degradation, and corrosion protection. Compared to other coating processes, liquid coating is cost-effective and provides a practical solution. Additionally, liquid coating equipment is heat-resistant and does not require high-temperature curing, making it suitable for heat-sensitive materials such as plastics and electronic devices. The compatibility of liquid coating equipment is greater than other coating methods, allowing for a wider range of applications.
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The liquid coating equipment segment accounted for USD 6.73 billion in 2018. In the automotive and transportation sector, liquid coating is used for rust damage prevention on aluminum extrusions and electric vehicle production. In the aerospace industry, it is used for coating electric battery technology and charging stations. The electric vehicle market also benefits from liquid coating for coating electric-powered vehicles and coated electronic devices. High-end coating equipment, such as brushes and rollers, tribo guns, air drag, physical vapor deposition (PVD), and chemical vapor deposition (CVD), are used for specialized applications in construction, agriculture, automotive OEMs, machinery, and more. Conventional equipment, such as brushes and rollers, are still in use for certain applications, while customized coating equipment is increasingly popular for specific industries and requirements. In the automotive application, vacuum deposition coating is used for advanced coatings on automotive glass and other components. Overall, the demand for coating equipment is driven by the need for protection against rusting, degradation, and corrosion, as well as the desire for aesthetic characteristics in various industries.
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APAC is estimated to contribute 34% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The liquid, powder coatings and specialty coating equipment market encompasses the production and application of protective and decorative layers on various substrates, including metal and non-metal materials. Metal substrates, such as aluminum and steel, benefit significantly from these coatings due to their corrosion resistance properties. Powder coatings are applied electrostatically, enabling uniform coverage and reducing energy consumption compared to traditional liquid coatings. Powder coatings are available in thermoplastic and thermoset polymer forms, catering to diverse applications. The increasing adoption of electric vehicles (EV) and hybrid vehicles necessitates the use of low-bake powder coatings due to their reduced curing temperatures, minimizing energy consumption. Thermoplastic powders are suitable for coating non-metal substrates like wood and plastics, while thermoset powders provide superior corrosion resistance and UV resistance for architectural coatings and consumer goods. Eco-friendly materials, such as MDF, are increasingly used in place of traditional wood substrates, driving the demand for powder coatings with low volatile organic compounds (VOCs). Twin-screw extruders are used in the production of polyester resin, a common base material for powder coatings. The versatility of powder coatings extends to various industries, including automotive, construction, and consumer goods, making them an indispensable component in manufacturing processes.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increased automation in liquid, powder and specialty coating equipment is notably driving market growth. The global market is experiencing significant growth due to the increasing automation of manufacturing processes. Automation enhances the efficiency, consistency, and reliability of coating applications, minimizing the need for manual intervention and increasing production rates. Automated coating equipment, such as those used for liquid, powder, and specialty coating, provide precise and accurate depositions, resulting in enhanced film quality. Real-time monitoring and control of temperature, pressure, and gas flow during the deposition process are made possible by automation. This level of control ensures consistent results and reduces the risk of rusting, degradation, and corrosion in various industries, including automotive and transportation, aerospace, building and construction, hygiene products, and the electric vehicle market. In the automotive and transportation sector, automation plays a crucial role in the application of liquid coating, powder coating, and specialty coating for aesthetic characteristics and protection against rust damage. In the aerospace industry, high-end coating equipment is used for vacuum deposition coating on aluminum extrusions, ensuring the longevity and performance of coated electronic devices and electric-powered vehicles.
Additionally, automation also benefits the agriculture sector, with customized coating equipment, such as tribo guns, used for applying protective coatings to machinery components. In the electric vehicle production sector, automotive OEMs rely on advanced coating technologies, including Physical Vapor Deposition (PVD) and Chemical Vapor Deposition (CVD), to enhance the performance and durability of batteries and charging stations. In conclusion, automation is a significant driver in the global coating equipment market, enabling the production of high-quality coatings with greater accuracy, consistency, and reliability. The benefits of automation extend to various industries, including automotive and transportation, aerospace, building and construction, hygiene products, electric vehicle market, and agriculture. Automated coating equipment, such as liquid, powder, and specialty coating, offer improved film quality, real-time process control, and enhanced operator safety and convenience. Thus, such factors are driving the growth of the market during the forecast period.
Growing demand for electronic devices is the key trend in the market. The global market is experiencing significant growth due to the increasing demand for various industries such as automotive and transportation, aerospace, building and construction, hygiene products, and the electric vehicle market. The need to protect substrates from rusting, degradation, and corrosion is a major driver for the use of coating equipment in these industries. In the automotive and transportation sector, liquid coating is widely used for automotive OEM applications, while powder coating is preferred for coating aluminum extrusions and machinery. In the aerospace industry, high-end coating equipment such as Physical Vapor Deposition (PVD) and Chemical Vapor Deposition (CVD) are used for customized coating applications. The electric vehicle market, including electric cars and charging stations, is also driving the demand for coating equipment. Electric battery technology requires coating for protection against corrosion and degradation.
Further, the coating is also used in the production of electric vehicle components such as aluminum extrusions. In the building and construction industry, coating is used for aesthetic characteristics and protection against weather conditions. Hygiene products also require coating for various applications. Liquid coating is applied using conventional equipment such as brushes and rollers, while powder coating requires specialized equipment such as tribo guns and air drag systems. Specialty coating equipment, including vacuum deposition coating, is used for advanced coating applications such as thin-film coatings on coated electronic devices and electric-powered vehicles. The increasing popularity of electric vehicles and the need for high-performance and durable products are expected to further drive the demand for coating equipment in the electric vehicle production sector. Thus, such trends will shape the growth of the market during the forecast period.
High capital costs associated with liquid, powder, and specialty coating equipment is the major challenge that affects the growth of the market. Coating equipment plays a crucial role in various industries, including automotive and transportation, aerospace, building and construction, hygiene products, electric vehicle market, and more. Liquid coating, powder coating, and specialty coating are essential processes used to protect substrates from rusting, degradation, and corrosion. Liquid coating equipment uses brushes and rollers, while powder coating relies on tribo guns and spraying techniques. Specialty coating processes, such as Physical Vapor Deposition (PVD) and Chemical Vapor Deposition (CVD), employ vacuum deposition coating and plasma technology. High-end coating equipment, including powder coating equipment and specialty coating equipment, is extensively used in automotive application for rust damage prevention, enhancing aesthetic characteristics, and improving the lifespan of aluminum extrusions.
In the electric vehicle market, coating technology is crucial for electric battery technology and charging stations. The high capital costs associated with these coating technologies can be a significant challenge for companies, especially those with limited budgets. The investment required to purchase and set up the equipment can be substantial. Moreover, the specialized nature of the equipment and the need for trained personnel to operate it can act as additional hurdles. Ongoing maintenance and replacement of parts can also add to the overall cost. The high cost of consumables, such as targets used in the deposition process, can further increase the expenses. In agriculture, coating technology is employed in electric vehicle production, with automotive OEMs utilizing customized coating equipment for machinery and electric cars. The electric vehicle production process requires advanced coating techniques to ensure the longevity and performance of the vehicles. In conclusion, while liquid, powder, and specialty coating equipment offer numerous benefits, their high capital costs and ongoing maintenance requirements can pose challenges for companies. However, the advantages, such as improved product lifespan, enhanced aesthetic characteristics, and rust damage prevention, make these technologies indispensable in various industries. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies 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.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The coating equipment market encompasses liquid coating, powder coating, and specialty coating solutions designed to protect and enhance the aesthetic characteristics of various substrates. Liquid coating is commonly used for rusting, degradation, and corrosion prevention in automotive and transportation, aerospace, building and construction, and hygiene products. Powder coating, on the other hand, is ideal for electric vehicle market applications, such as charging stations and electric battery technology, due to its durability and resistance to wear. Specialty coating equipment, including tribo guns, air drag, physical vapor deposition (PVD), and chemical vapor deposition (CVD), cater to specific industries like construction, electric cars, and coated electronic devices. Conventional coating methods, such as brushes and rollers, are being replaced with customized coating equipment to improve efficiency and reduce air pollution. The automotive application sector, including automotive OEMs and machinery, is a significant market for both powder and liquid coating equipment. In agriculture and electric vehicle production, aluminum extrusions and vacuum deposition coating are popular choices.
Market Scope |
|
Report Coverage |
Details |
Page number |
182 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.6% |
Market growth 2024-2028 |
USD 5.79 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.2 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 34% |
Key countries |
China, US, Germany, Japan, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, 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, Market condition analysis for the market 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. |
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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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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