Overview:
Plastic Coatings are applied to metal surfaces for protection against adverse effects from water and air. Plastic Coatings have excellent thermal resistance, ultraviolet (UV) protection, corrosion resistance, chemical resistance, and other properties. During the survey, the Global Plastic Coatings Market is projected to grow with a 06 % annual rate based on current market trends. Plastic Coatings are extensively used in automotive, oil & gas, building & construction, and other primary industries. Automotive and building & construction industries are the major contributors to this market due to their global expansion, which is still in progress.
The demand for high-end electrical & electronic products is also driving the market because of increasing expenditure capacities and rapid economic growth in weaker parts of the world. The protective coatings market is facing the highest growth in the regions with hot and humid conditions. The marine industry is also contributing considerably to this market as the need for coatings against saline, wet and humid conditions. As the awareness and demand for environment-friendly products increases, the companies are developing a bio-based alternative to secure the future.
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Global Plastic Coatings Market is growing with impressive rates, but the recent fall of the automotive industry on global scales has damaged the market structures to large extents. As automotive and plastic coatings markets are directly proportional, it has left a significant impact on this industry.
Global Plastic Coatings Market Segments:
Global Plastic Coatings Market is segmented into four parts mentioned below:
Types: Epoxy, polyesters, polyurethanes (PU), and other types of plastic coatings are there.
Technology Used: Water-borne and solvent-borne technologies are used.
Types of Processes: Powder coating, spray painting, dip coating, and other processes are there.
End-Users: Automotive, building & construction, defense, aerospace, and other industries are the major end-users.
Recent Industry News:
Global Plastic Coatings Market has become an essential part of many major industries. Still, the market is struggling against the stringent environmental regulations introduced against the usage of lead-based Plastic coatings. To fight back, the companies are now working and focussing on the development of organic and metal-based plastic coatings for expanding the market. The Asia Pacific region will lead the market during the projected period with India and China as the major shareholders.
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Regional Outline:
Global Plastic Coatings Market is observed based on Asia Pacific, Europe, America, and The Middle East & Africa.
The Asia Pacific market is the current market leader and will maintain its lead during the survey period due to expanding the automotive industry, vast population counts, rising disposable incomes, growing building & construction activities, and other factors.
The American region is the second-largest market due to expanding the building & construction industry, the presence of primary market players, and other factors. The European region is the next biggest market due to the well-established automotive industry, demands for lightweight products, and other reasons.
The rest of the regions are also showing impressive results due to expanding packaging, automotive industries, and other reasons.
COVID-19 Study in Detail:
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