Synopsis of the Global Plastic Coating Market
The market for Plastic coating is driven by the growth of automotive and building and construction industry across the globe. The market highly influenced by the varied application across automotive industry such as seat springs, filter pipes, door handles among many others. This makes the automotive industry the largest end-user market for this type of coating. Plastic Coating is preferred over the traditional coatings due to its properties like heat proof, corrosion proof, impact proof, etc. These properties make plastic coating a preferred coating option in other major industries as well such as Construction and Aerospace & defense.
Polyurethane was valued to have the largest market by type in 2015 and is expected to continue the trend by 2022. Thermoplastic dip coating process is expected to lead the market share by process in the forecasted period. The global plastic coating market is expected to cross USD 8 Billion by 2022. The market is expected to grow at a CAGR of approximately 5% in the forecasted period.
Global Plastic Coating Market Information segmented as:
- By Type (Acrylic, Polyurethane, and Epoxy)
- By Process (Electrophoretic painting, Thermoplastic Dip Coating, Powder Coating)
- By Application (Automotive, Construction, Aerospace & Defense, Petrochemical, and others)
- By Region
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The key players of Global Plastic Coating Market report include-
- Bayer AG, 3M Company
- BASF SE, PPG Industries Inc.
- Eastman Chemical Company
- Akzo Nobel N.V.
- Wacker Chemie AG
- Kansai Paints Co Ltd.
- Axalta Coating Systems
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- Raw material Suppliers
- Aftermarket suppliers
- Research Institute / Education Institute
- Potential Investors
- Key executive (CEO and COO) and strategy growth manager
Regional Analysis of Global Plastic Coating Market
Europe is the key driving force for the drastic growth of the market. The region was valued to have the largest market share in 2015 and is expected to grow in coming years. The region is valued to have the largest consumption value of plastic coatings in various applications along with increased investment in research and development in the industry. It is followed by North America which is expected to grow steadily over the forecasted period.
However, APAC is the fastest growing market for plastic coatings and the share is attributed to the increased investment in infrastructure and construction to support the rapid population growth and urbanization. The government has taken various initiatives to support better infrastructure and development in the region. This is expected to fuel the market for plastic coatings.
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