Coating Equipment Market Share to Witness Significant Revenue Growth
Coating Equipment Industry
The global coating equipment market size is expected to reach USD 25.99 billion by 2030, expanding at a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. The industry is expected to witness significant growth on account of the high application scope coupled with growing consumption from the automotive application.
COVID-19 is an incomparable global public health emergency that has affected almost every industry, and the long-term effects are projected to impact industry growth during the forecast period. COVID-19 has impacted consumer behavior, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments.
Growing demand for coating equipment from various applications such as automotive, aerospace, construction, and industries is anticipated to provide positive scope for market growth over the forecast period. Rapid industrialization in Asia Pacific is expected to further drive the demand for the product.
Low fuel costs and comparatively cheap airfares are attracting new fliers and increasing flying frequency, which in turn is driving the aerospace industry. Increasing research and development in the aviation and aerospace sector is further expected to drive the utilization of coating equipment.
Gather more insights about the market drivers, restrains and growth of the Global Coating Equipment market
Coating Equipment Market Segments Highlights:
- The construction application segment dominated the market as it accounted for 37.4% of the total revenue share in 2021 owing to the increasing urbanization and construction projects globally
- The specialty coating equipment led the product segment as it accounted for 47.6% of the total revenue share in 2021 due to the increased performance, anti-corrosion properties, and cost-effectiveness
- Automotive segment is expected to grow at a CAGR of 6.5% over the forecast period owing to increasing demand for electric vehicles and growing demand for low maintenance & economical coatings
- The Asia Pacific dominated the market in 2021, accounting for a share of 45.3%. The growing construction sector across the Asia Pacific region coupled with efficiency improvements in existing buildings and growing renovation activities
- In April 2022, Biocoat, Inc., a provider of hydrophilic biomaterial coatings and coating equipment, expanded into the design, development, and distribution of hydrophilic dip coating equipment. This will enable the company to expand its product offering
Browse through Grand View Research's Paints, Coatings & Printing Inks Industry Research Reports.
- The global hydrophobic coating market was valued at USD 2.06 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2030.
- The global nanocoatings market size was valued at USD 12.86 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 16.4% from 2024 to 2030.
Segments Covered in the Report
Grand View Research has segmented the global coating equipment market based on product, application, and region:
Coating Equipment Product Outlook (Revenue, USD Million, 2017 - 2030)
- Specialty Coating Equipment
- Powder Coating Equipment
- Liquid Coating Equipment
Coating Equipment Application Outlook (Revenue, USD Million, 2017 - 2030)
- Automotive
- Aerospace
- Construction
- Industrial
- Others
Coating Equipment Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
Order a free sample PDF of the Coating Equipment Market Intelligence Study, published by Grand View Research.
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