PUNE, INDIA, October 22, 2019 /EINPresswire.com/ —
WiseGuyReports.Com Publish a New Market Research Report On –“ In-Mold Coatings Market by Manufacturers,Types,Regions and Applications Research Report Forecast to 2023”.
The global in-mold coatings market is likely to grow in an inspiring way. In-mold coating is like an oracle for different industrial ventures and basically includes plastic substrates. In-mold coatings are applied to molded parts during the molding process so that its foam chemistry, resistance, color retention, UV stability etc can improve and moreover sub-skin defects in the finished products can also get reduced greatly.
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Akzo Nobel NV (The Netherlands), The Sherwin-Williams Company (U.S.), Bomix Chemie GmbH (Germany), Omnova Solutions Inc. (U.S.), Plasti Dip International (U.S.), Emil Frei GmbH & CO. KG. Protech Powder Coatings Inc. (Germany), Adapta Color, SL. (Spain),and others are the chief players in the in-mold coatings market.
Some of the factors that are driving the market size include its eco-friendliness and cost-efficiency which results in reducing carbon footprint in the automobile sector. This type of technology is used mainly in door panels, instrument panels, steering wheels, armrests, airbag covers, assist handles, seat covers and headrests. Rapid industrialization, and surge in demand for the in-mold coating in industries like automobile and construction is anticipated to trigger its growth in the coming years. In the building and construction sector, in-mold coatings are used to develop carpet tiles coating, exterior sheathing, interior decorative, and pavements which is increasing its market size.
In addition, government initiatives to use eco-friendly alternatives that consume less power during production and leave a minimal carbon footprint will further push the market size greatly. However, some of the challenges including recyclability issue of composites, and more cost of raw materials are expected to hinder the market growth in the coming years.
The market of global in-mold coatings has been segregated into type, application and substrate. Based on the type, the market has been segmented as solvent-based in-mold coating (IMC), water-based in-mold coating (IMC), powder coatings, and others. On the basis of substrate, the market is divided into bulk molding compound, sheet molding compound, thermoplastics among others. Based on its application, the market has been divided into building & construction, automotive & transport, electronics, medical, furniture & sanitary, and others. The automotive segment is likely to grow in an impressive way while the demand for other appliances segment will show modern to high growth in the coming years.
Detailed Regional Analysis
The global market of the in-mold coatings has been analysed across Northern America, Europe, India, Japan, China, and Southeast Asia. The Asia Pacific market will witness maximum growth in the coming years followed by the European market. In-mold coatings applications are witnessing increasing demand especially in countries like India and China, coupled with growing capital investments in construction activities and establishment of large scale infrastructure projects will further fuel the demand in the coming years. The European market is also emerging as a leading player in in-mold coatings and thus will create new opportunities for the key players operating in the region.
The increasing competition among the players in the global in-mold coatings will influence the market size in the next coming years. Moreover, government initiatives in promoting usage of eco-friendly products is inspiring key players to speed up their operations and innovate better and superior quality of products to target more end-users.
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Source: EIN Presswire