Automotive Industry Can Influence Growth for In-Mold Coatings Market

Overview:

The global market report with a proper discussion of the in-mold coatings is showing promises for the market attaining a 7.07% CAGR during the forecast period covering 2022-2030 as the forecast period. Market Research Future (MRFR) is providing ample insights into their report, which can be used to study the market in a better light.

In-mold Market coatings are currently enjoying strong demand in the market for their cost-effective measures and eco-friendly impacts. A lot of sectors are trying to reap the benefits of such features. For instance, industries like automotive & transportation, building & construction are creating notable opportunities for the market to expand. In addition, strict VOC regulations are backing the growth rate.

But the in-mold coatings market may find the growth a bit slackened due to the complex nature of its manufacturing process. Associated companies can back out to rely on much simpler methods. 

Segmentation:

The global market report on the in-mold coatings market can be segmented on the basis of substrate, type, and end user industries. These segments have been analyzed by having a microscopic look on factors and dynamics.

By substrate, the global report on the in-mold coatings market can be segmented on the basis of sheet molding compounds (SMC), thermoplastic, bulk molding compounds (BMC), and others. The SMC segment is leading the global market.

By type, the global report studied on the in-mold coatings market can be segmented on the basis of water-based IMC, powder, solvent-based IMC, and others. The water-based IMC would dominate the segment and record the highest CAGR of 7.9% during the forecast period.

By end user industries, the global market on the in-mold coatings can be studied by having it segmented into automotive and transportation, building and construction, furniture and sanitary, electronics, medical, and others. The automotive & transportation segment is having the maximum market impact on the market.

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Regional Analysis:

The global market for in-mold coatings has been studied in the report to understand various demographic challenges. The macroeconomic and microeconomic ups and downs of regions have been studied as well as factors for the growth of these regions.

The Asia Pacific region had a vast impact on the global market in 2018. It had a market share of 41%. The valuation of the regional market was USD 4498.4 million in 2018. China was at the front. This market growth is also expected to continue during the forecast period. Japan and India are also going to make a substantial impact on the market. Both these countries would register substantial CAGR during the forecast period owing to which growth of the region would be robust.

Europe had the second largest market share in 2018. This market control is expected to continue as several countries like Germany, France, Russia, and others contributing. Germany is leading the region in terms of revenues. In North America, this growth would be supported by various associated industries as their infrastructure is quite influencing.

Competitive Landscape:

The global market for in-mold coatings is getting boosted by the strategic contributions of several companies like Akzo Nobel NV, Bomix Chemie GmbH, Omnova Solutions, Inc., Stahl Holdings BV, the Sherwin-Williams Company, Adapta Color, SL, Emil Frei Gmbh & Co. KG, Protech Powder Coatings Inc., Red Spot Paint & Varnish Company, Inc., and Plasti Dip International. These companies are trying out various strategic moves to ensure their contributions’ lasting impact. This would safeguard their individual presence and boost the market prospect in the coming years.

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