The global E-Coat market is forecast to reach USD 4.84 Billion by 2027, according to a new report by Reports and Data. The rising electricity usage, mainly in the emerging economies, has led to the extension of power production projects, which will trigger the type demand moreover will succeed in stimulating the overall E-Coats market size by 2027. Growing demand from energy transformation and electronics types is another circumstance affecting the business growth.
A meaningful portion of the application is anticipated to be arising from developed nations. For example, the installed capacity of large transformers in the U.S. is quite frequent. However, those transformers are aging and hence generate the need to restore the current foundation with new connections, which will help drive demand, thereby increasing E-Coats market size by 2027.
The automotive companies have preceded the leaning of color customization in vehicles, especially in customer care, which is expected to drive the market. In addition, an increase in the disposable income of consumers in developing economies has fueled passenger cars' demand.
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Key participants include Axalta Coating Systems, PPG Industries, Inc., BASF, Nippon Paint Holdings Co., Ltd., The Valspar Corporation, Tatung Fine Chemicals Co .Ltd, KCC Corporation, Luvata OY, Hawking Electrotechnology Ltd, Noroo Paint Coatings Co., Ltd among others.
Further key findings from the report suggest
- In the segment of Type the highest CARG is seen in the sub segment of Cathodic Epoxy of about 4.4% compared to other sub segment. Apart from this, technological innovation and development associated with e-coat such as DOE matrix is one of the key factors fueling the growth of the global Electro coating market.
- Cathodic acrylic electro coat materials is forecasted to grow with a CAGR of 4.3% during the forecast period.
- Technological modifications are supposed to drive the growth of the Global E-Coat Market. The growth of the automotive division in emerging economies and the potential for e-coat from the shipbuilding pipeline industries are expected to perform growth opportunities for the market.
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For the purpose of this report, Reports and Data have segmented into the global E-Coat market on the basis of Type, Technology type, application, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Cathodic Epoxy
- Cathodic Acrylic
- Anodic
Technology Type Outlook (Revenue, USD Billion; 2017-2027)
- Epoxy Coating Technology
- Acrylic Coating Technology
Application Outlook (Revenue, USD Billion; 2017-2027)
- Passenger Cars
- Commercial Vehicles
- Automotive Parts
- Heavy-Duty Equipment
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Regional analysis section covers analysis of the E-Coat market in the major geographies of the world including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa with regards to production and consumption pattern, supply and demand ratio, import/export, revenue contribution, market share and market size, and presence of key players in the region.
Detailed Regional Analysis Covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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