The market report on the Coating Equipment Market published by Stratview Research indicates lucrative growth opportunities in the Coating Equipment Market industry during the next five-year period and ensures more information regarding the market trends. The following summary will give an overview of the challenges, trends, market dynamics, and key players.
Coating Equipment Market Forecast:
The Coating Equipment Market is likely to witness an impressive CAGR of 5.8% during the forecast period. Increasing demand from various end-use industries, development of new coating applications, and growing interest towards development of advanced coating equipment, are the key driving forces fueling the market for coating equipment.
The growth of this market principally depends upon several factors which have direct or indirect influence on the demand. The report published by Stratview Research has the summary of such factors derived using multiple analysis. These methods help in evaluating the potential of the companies and identify gaps, finding challenges as well as opportunities to lay out a successful roadmap which leads to higher profitability.
Here are the key players in the market –
- Asahi Sunac Corporation
- Carlisle Companies
- Exel Industries
- Graco Inc.
- IHI Corporation
- Nordson Corp.
- OC Oerlikon Corporation AG
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Coating Equipment Market Segmentation:
The report segments are based upon applications, material, product type, demographics, geographics, benefits and volume etc. It also recognizes the most-attractive segments and sub-segments.
Coating Equipment Market Share: By Type
Based on the type, the market is segmented as powder coating, liquid coating, and specialty coating. Specialty coating dominated the market in 2019, and is expected to maintain its dominance during the forecast period. Chemical vapor deposition, physical vapor deposition, plasma coating, and thermal sprays are among the key types included in the segment. There is a dramatic increase in the number of applications for specialty coating, which is fueling the demand for the segment.
Coating Equipment Market Share: By End-Use Industry Type
Based on the end-use industry type, the coating equipment market is segmented as automotive, aerospace, construction, industrial, and others. The automotive industry is likely to offer sizeable opportunities in the market during the forecast period. There is a constant improvement in the manufacturing of automotive components in order to meet the growing need for delivering high-performance products that consistently meet the industry specification. Reliable performance, minimal maintenance requirements, optimum coating material utilization, and corrosion and UV-resistant coatings are some hot spot value additions provided by the use of efficient coating equipment in the industry.
Coating Equipment Market Share: By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing coating equipment market during the forecast period, with China, Japan, and India, being the key countries with lucrative growth opportunities. The region has a greater number of players and has comparatively high competition when compared to the developed western economies. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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