Study Predicts E-Coat Market to Reach $3.69 Billion by 2020
PUNE, India - A new report available from research firm MarketsandMarkets analyzes the global e-coat market, including market drivers, restraints, opportunities and challenges in different regions.
E-coat is a unique immersion coating process in which electrically charged particles are deposited out of a water suspension to coat a conductive part. In this process, a positive charge is applied to the paint bath, and a negative charge is applied to the parts to be coated. The paint particles are suspended in water. The paint allows an electric current to travel from one paint particle to another till it reaches the part, where the paint particles electrically attach themselves to the surface. The parts are then processed through a bake oven where the paint is melted onto the surface for fusion bonding and then heat cured to form a hard and durable film.
The report identifies drivers for the electrocoating market as the growing automotive and appliance industries. Developing countries such as China, India and Brazil are the major consumers of e-coat. The market in the Middle East and Africa are also growing. In developed countries, such as the United States, Spain, Germany, Japan and Italy, market growth is at a low-to-moderate rate. Asia-Pacific is the largest market for e-coat, both in terms of volume and value, followed by Western Europe and North America.
The report estimates market value of the e-coat industry to be about $2.87 billion in 2015 and is projected to reach $3.69 billion by 2020, growing at a CAGR of 5.12 percent between 2015 and 2020. Current and future projections are based on the economic and industrial outlook. The analysis also covers important developments, expansions, partnerships and agreements, and mergers and acquisitions of the leading global companies involved in e-coat.
The market size of e-coat mainly depends on new production of automobiles such as passenger cars, commercial vehicles, and heavy-duty construction and agricultural equipment. E-coat offers superior performance and can be cheaper. E-coating technology may also help companies comply with environmental regulations. These advantages help to spur demand for the technology in end-use industries such as appliances, automotive, construction and furniture. The market is restrained by the initial high cost of capital equipment. Opportunities for the e-coat industry include the growing automotive market in Asia-Pacific and the Middle East and the booming agricultural equipment industry.
For additional information about the report, Electrocoating (E-Coat) Market by Type (Cathodic Epoxy, Cathodic Acrylic, Anodic), by Application (Passenger Cars, Commercial Vehicles, Automotive Parts & Accessories, Heavy Duty Equipment, Appliances, & Others) & By Region - Global Forecasts to 2020, visit http://www.marketsandmarkets.com/Market-Reports/electrocoating-market-29663206.html.