Market Synopsis of Plastic Coating:
Plastic Coatings are used widely across various strategic industries such as automotive, construction, aerospace & defense, petrochemical among others. These coatings are widely applied in seat springs, filet pipes, battery compartment, door handles and other areas in automotive industry. Plastic Coating with its properties such as heat proof, corrosion proof, external force proof and cost effective is been considered as one of the preferred coating material over the traditional and conventional coating substitutes.
Global Plastic Coating Market is expected to reach USD 8 billion mark by 2022 at a CAGR of around 5% from 2016 to 2022. Plastic Coating Market is driven by the growth in automotive and building and construction industry. The automotive sector is the largest end-user of the coating material. The use of metal along with the use of external force and heat in the all the processes of automotive and construction industry makes this type of coating a successful and popular option among the manufacturers and suppliers. Additionally, the ability of these coasting materials to be used on the steel bars which are highly corrosive further augments the market for plastic coating.
Major Players in Global Plastic Coating Market:
- Bayer AG
- 3M Company
- BASF SE
- PPG Industries Inc.
- Eastman Chemical Company
- Akzo Nobel N.V.
- Wacker Chemie AG
- Kansai Paints Co Ltd.
- Axalta Coating Systems
- Valspar Corporation
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Furthermore the growth of automotive industry due to high demand for automobile from the emerging nations has led to the increased market for plastic coating. The regions of APAC have shown high population and urbanization which fuels the demand for automobiles in the region. Also, APAC is currently valued as the fastest growing market for plastic coating and is expected to keep up the pace by 2022. The foreign and domestic investment in infrastructure industry widens the scope for coating material. The global Plastic coating market is expected to cross USD 8 billion mark at the end of the forecasted period and is expected to show a staggering growth at CAGR of approximately 5% from 2016 to 2022.
Market Research Analysis:
The market is highly application based. Its dependency on the end-use industry has widened over a period of time. With increasing awareness among dealers and suppliers along with rapid increase in disposable income induces the market for high quality coating material.
It is expected that the global plastic coating market will advance with higher growth rate as compared to previous years. The current challenge for the market is fluctuating raw material prices. The increasing disposable income of average consumers in the emerging economies is driving the market of plastic coating along with upcoming government policies to strengthen the infrastructure for the rising population and industrialization, especially in APAC. Polyurethane is the largest market by type and is expected to attain a similar share in global Plastic Coating market by 2022. Furthermore the growth in automotive sector on a global level has fueled the demand from such coating material which is used extensively in automotive sector.
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Scope of the Report:
This study provides an overview of the global Plastic Coating industry, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global plastic coating market as types, process and application. On the basis of types it is segmented as acrylic, polyurethane, and epoxy. On the basis of process it is segmented as electrophoretic painting, thermoplastic dip coating, powder coating, and others. On the basis of application it is segmented as automotive, construction, aerospace & defense, petrochemical, and others.
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