Plastic Coatings Market Cost Analysis and Growth Factor Report 2021 | The DowDuPont Inc. (U.S.), BASF SE (Germany), The Sherwin-Williams Company (U.S.)
Research Reports
Mar 25, 2022
Plastic Coatings Market Overview –
The Global plastic coatings market is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 6.45 % over the forecast period (2021-2030). The global market is experiencing a significant rise owing to a growing demand for plastic coatings from end-user industries, such as automotive, electronics, aerospace & defense, building & construction, and others.
The global plastic coatings market is all set to experience a boost from rapid industrialization, urbanization, and booming automotive sector during the forecast period (2021-2030), Market Research Future (MRFR) reports. Plastic coatings are cost-effective, easily applicable, light-weight and have minimal carbon emission and are the most preferred material for diverse industry verticals.
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Eminent Firms:
The DowDuPont Inc. (U.S.), BASF SE (Germany), The Sherwin-Williams Company (U.S.), PPG Industries, Inc. (U.S.), Axalta Coating Systems (U.S.), Akzo Nobel N.V. (Netherlands), The Valspar Corporation (U.S.), Bayer AG (Germany), Kansai Paint Co.Ltd. (Japan), Clariant (Switzerland), Wacker Chemie AG (Germany), 3M (U.S.), Eastman Chemical Company (U.S.), NIPPON PAINT (Japan), Diamond Vogel (U.S.), and others.
Drivers and Restraints:
Plastic coatings are helpful in protecting electronic circuitry from dust, moisture, chemical and exceeding high temperatures. Electronic industry is expected to reap the maximum benefit of these advantages and in the process can fuel the demand for plastic coatings during the forecast period.
Plastic coating has possesses characteristics such as corrosion inhibition, abrasion resistance, thermal resistance, chemical resistance, UV resistance, lubrication, mechanical property enhancement, and surface finish., and It can maintain the aesthetics of the end product. This has given rise in demand for plastic coatings in automotive and aerospace & defense industries.
Research & development for the bio-based coatings is to fuel the growth of this global plastic coating market further.
However, its impact on the environment due to the volatile organic compounds (VOC) emissions can hinder the growth rate during the forecast period.
Industry Trend:
Research and developments in this segment are opening up various avenues that can impact the global plastic coating market during the forecast period. For instance, Hind High Vacuum Co (HHV) in April 2018, developed a new method of vacuum coating with the power to shield electronic devices from Electromagnetic electromagnetic Radiation radiation Interference interference (ERI) in diverse sectors, such as electronics, telecommunications, medical instrument, flat panel displays, sensors, aircraft canopies, and membrane switches.
Also, growing construction activities across the globe are expected to contribute to market revenues. A spurting growth in the automotive and transportation industry is acting as a key driving force for the market growth. Additionally, factors such as the advancements in coating technology, growth in the paints & coatings sectors, and untapped or disuse markets are generating a huge market demand.
Also, Plastic Coatings make a great choice for wearable light-emitting devices. The ability to power wearable light-emitting devices without bulky energy generators and storage systems remains a major obstacle in the way of incorporating these wearable devices into everyday life. The chemical stability and safety for skin that metal-coated clothing offers make it an excellent choice for wearable materials.
On the other hand, fluctuating prices and the demand-supply gap of the raw materials required for the production of Plastic Coatings are impeding the growth of the market. Also, stringent regulations pertaining to the Plastic Coatings production, alongside the highly capital intensive nature of the market is projected to hamper the market increase, barring the entry for new market participants.
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Segment Study of Plastic Coatings Market :-
The global plastic coating market has been segmented on the basis of technology, type, end-use industry, process, and region.
By mode of type, the global plastic coating market has been segmented into polyesters, acrylics, silicone, epoxy, polyurethanes, and others.
By mode of technology, the global plastic coating market has been segmented into solvent-borne and water-borne.
By mode of process, the global plastic coating market has been segmented into thermoplastic dip, powder coating, electrophoretic, PTFE coating, and others.
By mode of end-use industry, the global plastic coating market has been segmented into electronics, aerospace & defense, medical, consumer goods & appliances, automotive, building & construction, and others.
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Plastic Coatings Market Market – Geographical Analysis :-
Geographically, the plastic coating market spans across regions namely, North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa.
Among all the regions, Asia Pacific dominated the global plastic coating market in 2017 due to high demand from several end-use industries in this region. The sales of automotive along with high production and rapid urbanization are stimulating the market growth in this region.
North America held the second largest position in the global plastic coating market in 2017 owing to the growing demand from the defense and aerospace sector. Moreover, the flourishing construction industry in this region is likely to stimulate the market growth in this region.
Meanwhile, the European region is estimated to showcase a considerable growth rate due to the exportation and production of lightweight automotive parts in this region. The Latin America region is predicted to witness a significant growth rate owing to the increasing packaging, automotive, and cosmetic industry in this region.
Moreover, the Middle East and African region is likely to showcase a substantial growth rate owing to the demand for infrastructural and construction activities in this region.
Industry/ Innovation/ Related News:
DSM invests USD 18.12 million to expand capacity at Coating Resins plant in Meppen for the expansion of its Coating Resins plant in Meppen, Germany. The facility is specialized in the production of liquid polyesters and other specialty resins. With the expansion, DSM Coating Resins reinforces its position in the can and coil coatings segment and ensures it remains fit for growth in the BPA-free market.
The solution-based metal-deposition technique is often used to make printed circuit boards, and it only deposits metal on nylon and spandex fiber surfaces. The gold coated on the fabric acts as an electrode and sends power to a light-emitting material made of zinc sulfide, copper, and silicone, which shines through the semi-transparent, flexible fabric.
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