DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Coating Equipment Market by Type (Liquid Coating Equipment, Powder Coating Equipment, and Specialty Coating Equipment), End User Industry (Automotive & Transportation, Aerospace, Industrial, and Building & Infrastructure) - Global Forecast to 2021" report to their offering.
The coating equipment market is projected to reach USD 19.33 billion by 2021, at a CAGR of 5.8% between 2016 and 2021.
Growth of this market can be attributed to increasing requirements of customers for quick delivery of products, reduction in industrial maintenance time, and good finish. Thus, increasing acceptance of coating equipment to cater these requirements of customers is expected to drive the demand for coating equipment during the forecast period.
Increasing need for customized coating equipment in varied end-use industries, such as automotive & transportation, and aerospace, among others is providing growth opportunities for manufacturers of coating equipment. They are continuously carrying out R&D activities to develop new and advanced equipment that can meet varied requirements of customers. New technological advancements taking place in coating equipment not only expedite coating processes, but also ensure long-lasting coatings.
Demand for coating equipment is expected to increase during the forecast period, owing to rapid industrialization taking place in emerging economies. Increased application of coating materials in various end-use industries is fueling the demand for industrial coatings, thereby leading towards growth of the industrial segment of the coating equipment market. Rising demand for high end coating equipment is another reason for the growth of the coating equipment market in heavy machinery and manufacturing industries.
Market Dynamics
Drivers
- Increase Demand From Growing End-Use Industries
- Development of Coating Processes and Advanced Coating Equipment
Restraints
- High Cost of Coating Equipment
- Fluctuating Crude Oil Prices and Currency
- Slump in European Industrial Production
Opportunities
- New Product and Technology Developments in Coating Industry
- Opportunities in Emerging Economies
Challenges
- Changes in Consumer Preferences
- Development of Cheaper Equipment for Multiple Coatings
Companies Mentioned
- Anest Iwata
- Asahi Sunac Corporation
- Graco Inc.
- IHI Hauzer Techno Coating B.V.
- IHI Ionbond AG
- Nordson Corporation
- OC Oerlikon Corporation AG
- Sata GmbH & Co. Kg
- Sulzer Ltd.
- Wagner GmbH
For more information about this report visit http://www.researchandmarkets.com/research/s8rnwn/coating_equipment
