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Coating equipment market: opportunities and challenges

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Coating equipment market: opportunities and challenges

November 03
01:56 2019
Coating equipment market: opportunities and challenges

Browse 81 market data Tables and 33 Figures spread through 137 Pages and in-depth TOC on “Coating Equipment Market”
Coating Equipment Market by Type (Liquid Coating, Powder Coating, and Specialty Coating), End-use Industry (Automotive & Transportation, Aerospace, Industrial, Building & Infrastructure), and Region

The coating equipment market size was USD 20,381.5 million in 2018 and is projected to register a CAGR of 6.3% between 2018 and 2023.

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How is the economic growth in emerging economies creating an opportunity for market growth?

Emerging countries in APAC and the Middle East & Africa are showing high growth in industrial, automotive, and construction & infrastructure sectors. The growth in these areas provides opportunities for the growth of the coating equipment market. The growth is led by rapid industrialization and increasing government spending. Many companies are focusing on these emerging markets and are increasing their footprint by setting up manufacturing facilities, distribution centers, and research & development centers. Key industry players having presence in the region have reported high growth in revenue in these regions. For instance, Graco reported double-digit growth in the growth of its industrial segment (this segment offers coating equipment).

India is projected to be the fastest-growing market for coating equipment in the region due to increasing disposable income of the population. Also, ceramic coatings, which are used in industrial, aerospace, and automotive sectors are projected to grow at 8.9% during the forecast period. Thus, the growing coating industry will provide ample opportunities for the coating equipment manufacturers to grow.

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Is the development of cheaper equipment for coatings challenging the market growth?

Cost is an important factor while selecting a product. Providing a cheaper product with better performance is a challenging task for manufacturers. Production of quality equipment which is less expensive needs focused research & development. Understanding the customer requirement and meeting the industrial needs is the main challenge for coating equipment manufacturers. With the presence of low-cost alternatives for certain applications, the development of low-cost product would enable higher penetration in end-use industries.

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