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Global Cathodic Electrodeposition Coating Market to Surpass US$ 3,016.8 Million by 2027 – Coherent Market Insights

SEATTLE, April 02, 2020 (GLOBE NEWSWIRE) -- The global cathodic electrodeposition coating market was valued at US$ 2,408.5 million in 2018, and is expected to exhibit a CAGR of 3.3% over the forecast period (2019-2027).

Key Trends and Analysis of the Cathodic Electrodeposition Coating Market:

Government organizations are focused on the developing innovative technologies pertaining to the cathodic electrodeposition coating in the global market. For instance, in February 2020, the U.S. navy scientists and engineers in the U.S. demonstrated a new electrodeposition process that passes current through a conversion coating, which enables an induced current deposition in less than an hour, which results in greater coating thickness and performance on metal substrates. The new process allows scalable coating weights between 2-7 times average coating weight, which improves stability, salt-fog protection without creating a powdery appearance.

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Key Market Takeaways:

  • The global cathodic electrodeposition coating market is expected to exhibit a CAGR of 3.3% over the forecast period (2019-2027), owing to growth in the automotive industry coupled with the environmental benefits offered by cathodic electrodeposition coating.
  • Key players are adopting inorganic growth strategies such as new product launches and product development, in order to expand their portfolio and market share in the global cathodic electrodeposition coating market. For instance, in April 2014, Axalta Coating Systems launched new high-performance solutions such as Aqua EC 3000 for the automotive industry, painting agricultural machinery, and fork-lift trucks; as well as electronic components and jewelry. AquaEC 3000 is a 2-component epoxy-based primer and is REACH and HAPS compliant, which makes it ideal for application on conductive substrates. Also, in June 2016, BASF Coatings GmbH launched the Colors & Effects brand, which includes colorants and pigments to serve industries including coatings, plastics, printing, cosmetics, and agriculture.
  • Cathodic electrodeposition coating is used in electrical appliances as a primer for corrosion resistance, color control, and aesthetic appearance. Growth of the home appliance industry is expected to drive demand for cathodic electrodeposition coatings over the forecast period. For instance, according to APPLiA (a trade association for home appliance industry in Europe), the home appliance industry in Europe was valued at US$ 50,191.6 million in 2016, which increased to US$ 59,893.2 million in 2017.  
  • Asia Pacific held dominant position in the global cathodic electrodeposition coating market in 2018. This is attributed to increasing investments by organizations and private players in construction sector in this region, especially in emerging economies such as India, China, and others. Construction sector requires heavy equipment, which is expected to boost demand for cathodic electrodeposition coating in the region. For instance, according to the India Brand Equity Foundation (IBEF), Foreign Direct Investment (FDI) received for construction development sector of India (townships, housing, built up infrastructure, and construction development projects) from April 2000 to June 2019 was valued at US$ 25.12 billion.
  • Key players in the market are offering eco-friendly and efficient cathodic electrodeposition coating. The companies are currently focusing on manufacturing lead-free and tin-free products. For instance, BASF Coatings offers its coating without lead and tin. Moreover, during the pretreatment process, no environmentally detrimental heavy metals are used, so that tank water could be reused, which aids in the protection of resources.

Major players operating in the global cathodic electrodeposition coating market include—

Kansai Paint Co., Ltd., Axalta Coating Systems, Kyoei Vietnam Co., ltd, Nippon Paint Holdings Ltd., PPG Industries, Inc., B.L Downey, Dornauer-Grillitsch GmbH, KAPCO Manufacturing Inc., BASF Coatings Gmbh, and DuPont de Nemours, Inc.

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Market Segmentations:

  • Global Cathodic Electrodeposition Coating Market, By Resin Type:
    • Epoxy
    • Acrylic
  • Global Cathodic Electrodeposition Coating Market, By Application:
    • Automobile Parts
    • Heavy Equipment
    • Electrical Appliances
    • Metal Furniture
    • Others
  • Global Cathodic Electrodeposition Coating Market, By Region:
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Italy
      • France
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • ASEAN
      • Australia
      • South Korea
      • Rest of Asia Pacific
    • Latin America
      • Mexico
      • Brazil
      • Argentina
      • Rest of Latin America
    • Middle East & Africa
      • Middle East
      • Africa
Mr. Shah
Coherent Market Insights
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#3200 
Seattle, WA 98154
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Email: sales@coherentmarketinsights.com

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