PUNE, MAHARASHTRA, INDIA, October 1, 2019 /EINPresswire.com/ — Summary:
A new market study, titled “Discover Global Coating Equipment Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Global Coating Equipment Market
Talking about coating equipment, this equipment primarily used to apply to coat on metal surfaces. The market is full of different type of coating, for example, laser cladding and thermal spray. This coating equipment can be used in different kind of industries, such as power, automotive, defense, and more. The coating is divided into part of subtract, full covered surface, and all-over coating.
With time the demand for coating system is increasing rapidly. The reasons behind this can be the increasing requirement for replacement of old coating equipment, growing demand from aviation, medical and automotive industries, and government focus to use of the eco-friendly coating. But on the other side, changes in oil prices, growing costs of plastic, electrical component and other parts are affecting the growth of the Global Coating Equipment Market.
However, the booming economy in some developing countries, for example, Brazil, China, Mexico, etc., deployment of modern technology in such equipment and expansion of the manufacturing as well as an industrial sector are providing a better growth opportunity. That’s why it is estimated that the Global Coating Equipment Market will reach USD xx million by the end of 2026. In the year 2018, the value was $ xx million. Besides, the Compound Annual Growth Rate will be xx % from 2019 to 2026.
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Global Market Segmentation
The Coating Equipment Market is segmented on the basis application, type, and regions. Based on type, the product is split as aerospace, construction, automotive, industrial, medical, furniture, electrical & electronics, marine, and others. The report says that the aerospace industry covers the majority of market shares and is forecasted to grow at an impressive CAGR from 2019 to 2026. The reason is coatings are used in this industry to boost the performance to keep the aircraft component protected. The growth of this industry is fuelling the growth of the global market.
Based on type, the global market is split into specialty coating, powder coating, liquid coating, and others. Among all these coating types, the demand for powder coating is quite high. The market of power coating will grow at the fastest rate from 2019 to 2026. By using powder coating, the excess material can be retrieved. This, in turn, reduces the wastage level. On the other side, the powder coating is cheaper than liquid coating. Moreover, it comes with a low volatile organic compound.
Geographical Market Segmentation of Coating Equipment
The World Coating Equipment Market is segmented into Europe, South America, North America, Middle East & Africa and the Asia Pacific. The Asia Pacific is dominating the market and will remain on the top during 2019 -2026.
Key Players of Global Coating Equipment Market =>
Significant players of this market are OC Oerlikon, Praxair surface technologies, Nordson Corp, Anest Iwata, SATA, Graco, J. Wagner, ASAHI Sunac Corp, Carlisle Companies, WIWA Wilhelm Wagner, and more.
Latest Market Updates
In September 2018, OC Oerlikon introduced its second coating equipment production center in Slovakia.
In July 2018, a division of Carlisle Group, Carlisle Fluid Technology, started a new building in Bournemouth, UK.
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Source: EIN Presswire