Plastic Coating Market To Record Lucrative Growth, Revenue To Surge To US$ 7.74 Bn By 2021

06-Sep-2018 | Zion Market Research

With the presence of a large pool of participants, the global plastic coating market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). AkzoNobel N.V., Eastman Chemical Company, PPG Industries Inc., Axalta Coating Systems Ltd., Kansai Paint Company Ltd, and BASF SE are some of the key vendors of endoscopy devices across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the plastic coating market study.

In a major relief to plastic coating market, last month, researchers at Georgia Institute of Technology found that when plant cellulose is combined with chitin, the hard substance or substrate that makes up clamshells of shellfish as well as exoskeletons of lobsters, it produced recyclable plastic coatings.

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This review is based on a report by Zion Market Research, titled "Plastic Coating Market (Acrylic, Polyurethane, Epoxy and Other Process) by Process (Powder Coating, DIP Coating, Electrophoretic Painting, Spray Coating and Other Process) for Aerospace and Defense, Automotive, Medical, Building and Construction and Other End User: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021." - Report at http://www.zionmarketresearch.com/report/plastic-coating-market

As estimated in this report, the global plastic coating market stood at US$ 5.62 billion in 2015. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in this plastic coating market is expected to reach US$ 7.74 billion by the end of the forecast period. The main types available in this market are acrylic, epoxy, and polyurethane. Among the three, the demand for polyurethane is comparatively higher and the trend is anticipated to remain so over the next few years, notes the plastic coating market research report.

Global Plastic Coating Market

Thriving Automotive & Construction Sectors To Boost Market Growth

“Wide product demands from the automotive & construction sectors along with user-friendly & features are anticipated to augment the plastic coating market trends over the next few years,” says the author of this study. Apart from this, plastic coating is more durable & efficient as compared to its traditional counterparts and has the ability to enhance the performance. Rapid urbanization witnessed in developing countries and high product demand in these economies is projected to spur the growth of plastic coating market over the ensuing years.

Adverse effects on the ecology owing to VOC emissions, however, can hinder the progression of plastic coating market in the near future. Nevertheless, current research activities on developing bio-based coatings is forecast to create lucrative growth avenues for the business over the span of next few years, thereby normalizing the impact of hindrances on the plastic coating market, reports the study.

Presence Of Automotive Giants to Support Europe’s Regional Dominance  

Regionally, Europe has been leading the worldwide plastic coating market and is anticipated to continue on the dominant position in the years to come, states the plastic coating market study. The presence of leading automobile producers and rapidly flourishing automotive OEM market in the region is the main factor behind the dominance of the Europe plastic coating market. Furthermore, extensive use of plastic coating in aerospace and construction applications in Europe is expected to contribute substantially towards the growth and dominance of European plastic coating market in the years ahead.

The global plastic coating market is segmented as follows:

By Type

  • Acrylic
  • Polyurethane
  • Epoxy
  • Others

By Process

  • Powder coating
  • Dip coating
  • Electrophoretic painting
  • Spray coating
  • Others

By End User

  • Aerospace and defense
  • Automotive
  • Medical
  • Building and construction
  • Others

By Region

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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