The Coating Equipment Market Size was valued at USD 18.5 billion in 2023, and is expected to reach USD 28.82 billion by 2031, and grow at a CAGR of 5.7% over the forecast period 2024-2031.
The coating equipment market has grown in popularity in many industries. These industrial machines apply a protective layer, like paint, varnish, powder, or specialized liquids, onto various surfaces. This coating acts as a shield, safeguarding products from rust, decay, and corrosion. The benefits are clear: extended product lifespan, reduced maintenance, and lower replacement costs. The impact of coating equipment spans a wide range of industries are automotive, aerospace, construction, electronics, furniture, and packaging, to name a few. In the electric vehicle (EV) sector, coatings play a particularly crucial role. They not only protect the car's surfaces from rust but also enhance its appearance and overall quality. The market for coating equipment is further fueled by the rising government initiatives worldwide that are accelerating the adoption of electric vehicles. These initiatives include subsidies for charging station installation and funding for electric battery production – all geared towards combating climate change. As the EV market flourishes, the demand for coating equipment to cater to this growth will naturally surge.
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Drivers
The demand electric vehicles in coating equipment market
Consumers increasingly focuses on durability and visual appeal
Electric vehicles (EVs) are rapidly becoming a key driver of growth in the coating equipment market. Coatings play a dual role in EVs, safeguarding their components from rust and damage while simultaneously enhancing their visual appeal with a sleek and stylish finish. The increasing use of sophisticated, coated electronic devices within EVs creates a significant need for advanced coating equipment capable of handling these delicate components. Many governments are setting ambitious targets for not only EV adoption but also the installation of charging stations. This expanding electric vehicle infrastructure necessitates a robust coating equipment market to keep pace with production demands.
Restraint:
High cost consideration in balancing technology with affordability
Operating and maintaining sophisticated equipment requires specialized skills
Advanced coating equipment offers numerous advantages, but affordability remains a key concern. Businesses must carefully consider the cost of equipment when selecting coating materials and application processes. For applications with less stringent requirements and lower production volumes, using high-end equipment might not be financially justifiable. In these cases, more traditional and budget-friendly options like brushes and rollers take center stage. The presence of these cost-effective alternatives acts as a restraining force on the coating equipment market in specific applications.
Opportunities
New Technologies Drive the Coating Equipment Market
Integrating automation and robotics in coating processes can improve efficiency,
The coating equipment market is experiencing a surge fueled by continuous advancements in both coating processes and the equipment itself. End-use industries like automotive, aerospace, and others have specific coating needs. Manufacturers are responding by actively conducting R&D to develop customized coating equipment that caters to these unique requirements. The development of tribal guns exemplifies how new technology can propel specific segments of the market. In this case, tribal guns significantly boosted the powder coating equipment market. This translates to increased efficiency and product performance for end-users.
Challenges
Expanding cheaper coating applications through affordability
Impact the operational costs of coating equipment, affecting production profitability
Cost remains a critical factor for businesses considering coating equipment. Manufacturers face a double-edged sword: the high initial cost of production and assembly restricts market access while offering a lower-priced product with superior performance presents a significant challenge. The key lies in focused research and development efforts towards producing high-quality, yet affordable equipment. The customer needs and the ability to translate those needs into practical solutions that meet industry standards. The presence of cheaper alternatives in specific applications further emphasizes the need for cost-effective solutions. By developing lower-priced equipment, manufacturers can achieve greater market penetration across various end-use industries.
The impact of war between Russia and Ukraine has brought down the global economy, and the coating equipment market is no exception. Russia may limit the availability of raw materials or finished equipment from specific regions. This disrupts supply chains and leads to shortages in some areas. The war has disrupted transportation routes and logistics networks, making it more difficult and expensive to move goods around the world. This can impact the timely delivery of equipment and raise import costs.
The impact of the economic downturn presents a set of challenges for the coating equipment market. Businesses may tighten their budgets and prioritize essential spending during an economic downturn. This can lead to a decline in investments in new coating equipment, impacting market growth. Companies might postpone non-critical projects that require coating equipment, further dampening demand. Existing equipment might be prioritized for maintenance and repair over purchasing entirely new systems, impacting equipment sales. This results in slower construction activity, a key end-user segment for coating equipment. This can lead to a decline in equipment sales for the construction sector.
By Coating Type
Powder coating equipment
Liquid coating equipment
Specialty coating equipment
The powder coating equipment sub-segment is projected to experience a steady market growth capturing 55% market share in 2023 by coating type. This dominance can be attributed to several factors in which Powder coating offers superior protection against de-icing chemicals, abrasion, corrosion, and heat. This versatility makes it an attractive option for various industries, creating a positive outlook for the market. Compared to other coating methods, powder coating boasts minimal material waste, translating to further cost savings and environmental benefits, propelling market demand.
By End-Use Industry
Automotive
Aerospace
Industrial
Building & Infrastructure
Others
The Automotive industry sub-segment is leading in the coating equipment market, which has captured an overall 44.3% market share in 2023 by the end-use industry. The rise in the use of cutting-edge technologies like vacuum deposition coating and physical vapor deposition (PVD) for applying thin film coatings in the automotive sector. This trend is expected to drive up demand for coating equipment. The demand for coated electronic devices in cars is rising alongside the focus on protecting car exteriors. Coating equipment plays a crucial role in achieving both these goals. Automated coating equipment is a game-changer for automotive production, significantly reducing material waste. This translates to cost savings and environmental benefits, further propelling market growth.
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By Material
Polyester
Acrylic
PVC
Epoxy
Silicon
The Asia Pacific region dominates in the coating equipment market, holding a commanding 55.3% share in 2023. Rapid growth in the construction and industrial sectors across the region fuels the demand for coating equipment. Asia Pacific's ever-increasing population creates a market for coated products in various industries, driving demand for coating equipment. The region's growing appetite for automobiles further propels the market, as car manufacturing relies heavily on coating technologies. The demand for high-efficiency coatings in Asia Pacific is a key driver for the market, as both new and existing buildings require efficient coatings for various purposes.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Key Players
The major key players listed in the coating equipment market are anest iwata (japan), graco inc. (us), c. Oerlikon (switzerland), IHI ionbond AG (switzerland), sata gmbh & co. Kg. (germany), asahi sunac, corporation (japan), wagner gmbh (germany), carlisle companies (us), oc oerlikon management ag (switzerland), and others players.
In April 2022: Biocoat, a leading manufacturer of medical equipment coatings, expands its focus on innovation by launching EMERSE, a new in-house dip coating system for streamlined production.
In April 2022 : Interpon Redox, a maker of powder coatings, partners with HAGS, Europe's top playground equipment manufacturer, to provide protective coatings against corrosion in coastal areas.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 18.5 Billion |
| Market Size by 2031 | US$ 28.82 Billion |
| CAGR | CAGR of 5.7% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Coating Type (Powder coating equipment, Liquid coating equipment, Specialty coating equipment) • By End-Use Industry (Automotive & Transportation, Aerospace, Industrial, Building & Infrastructure, Others) • By Material (Polyester, Acrylic, PVC , Epoxy , Silicon) |
| Regional Analysis/Coverage |
North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America |
| Company Profiles | IHI Ionbond AG, OC Oerlikon Management AG, Anest Iwata, Graco Inc., Nordson Corporation, SATA GmbH & Co. KG., C. Oerlikon, Wagner GmbH, ASAHI SUNAC CORPORATION, Carlisle Companies, and other players. |
| DRIVERS | • Rising Urbanisation. • Increasing demand from the growing market for electric cars |
| Restraints | • For some uses, the availability of low-cost alternatives • Cost of raw materials going up. • Fluctuation in crude oil prices. |
Ans: Polyester, Acrylic, PVC, Epoxy and Silicon are the sub-segments of by Material segment.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Because of the COVID-19 pandemic, manufacturing operations were stopped, the supply chain was messed up, and the demand for industrial goods went down. All of these things had a big effect on the market. But because of the COVID-19pandemic, the demand for goods from the pharmaceutical industry has gone up. This, in turn, has helped the coating equipment market grow. At the same time, people around the world stock up on hygiene products because they are afraid, which drives the market. But the pandemic had an effect on the industries that make things like shoes and foam that are used by people.
Ans: The making of new technologies are the opportunity for Coating Equipment Market.
Ans. The projected market size for the coating equipment market is usd 28.82 billion by 2031.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2.Industry Flowchart
3.Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown
6. Value Chain Analysis
7.Porter’s 5 Forces Model
8. Pest Analysis
9. Average Selling Price
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 Middle East & Africa
10. Coating Equipment Market Segmentation, By Coating Type
10.1 Introduction
10.2 Trend Analysis
10.3 Powder coating equipment
10.4 Liquid coating equipment
10.5 Specialty coating equipment
11. Coating Equipment Market Segmentation, By Material
11.1 Introduction
11.2 Trend Analysis
11.3 Polyester
11.4 Acrylic
11.5 PVC
11.6 Epoxy
11.7 Silicon
12. Coating Equipment Market Segmentation, By End-User
12.1 Introduction
12.2 Trend Analysis
12.3 Automotive & Transportation
12.4 Aerospace
12.5 Industrial
12.6 Building & Infrastructure
12.7 Others
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 Trend Analysis
13.2.2 North America Coating Equipment Market by Country
13.2.3 North America Coating Equipment Market By Coating Type
13.2.4 North America Coating Equipment Market By Material
13.2.5 North America Coating Equipment Market By End-User
13.2.6 USA
13.2.6.1 USA Coating Equipment Market By Coating Type
13.2.6.2 USA Coating Equipment Market By Material
13.2.6.3 USA Coating Equipment Market By End-User
13.2.7 Canada
13.2.7.1 Canada Coating Equipment Market By Coating Type
13.2.7.2 Canada Coating Equipment Market By Material
13.2.7.3 Canada Coating Equipment Market By End-User
13.2.8 Mexico
13.2.8.1 Mexico Coating Equipment Market By Coating Type
13.2.8.2 Mexico Coating Equipment Market By Material
13.2.8.3 Mexico Coating Equipment Market By End-User
13.3 Europe
13.3.1 Trend Analysis
13.3.2 Eastern Europe
13.3.2.1 Eastern Europe Coating Equipment Market by Country
13.3.2.2 Eastern Europe Coating Equipment Market By Coating Type
13.3.2.3 Eastern Europe Coating Equipment Market By Material
13.3.2.4 Eastern Europe Coating Equipment Market By End-User
13.3.2.5 Poland
13.3.2.5.1 Poland Coating Equipment Market By Coating Type
13.3.2.5.2 Poland Coating Equipment Market By Material
13.3.2.5.3 Poland Coating Equipment Market By End-User
13.3.2.6 Romania
13.3.2.6.1 Romania Coating Equipment Market By Coating Type
13.3.2.6.2 Romania Coating Equipment Market By Material
13.3.2.6.4 Romania Coating Equipment Market By End-User
13.3.2.7 Hungary
13.3.2.7.1 Hungary Coating Equipment Market By Coating Type
13.3.2.7.2 Hungary Coating Equipment Market By Material
13.3.2.7.3 Hungary Coating Equipment Market By End-User
13.3.2.8 Turkey
13.3.2.8.1 Turkey Coating Equipment Market By Coating Type
13.3.2.8.2 Turkey Coating Equipment Market By Material
13.3.2.8.3 Turkey Coating Equipment Market By End-User
13.3.2.9 Rest of Eastern Europe
13.3.2.9.1 Rest of Eastern Europe Coating Equipment Market By Coating Type
13.3.2.9.2 Rest of Eastern Europe Coating Equipment Market By Material
13.3.2.9.3 Rest of Eastern Europe Coating Equipment Market By End-User
13.3.3 Western Europe
13.3.3.1 Western Europe Coating Equipment Market by Country
13.3.3.2 Western Europe Coating Equipment Market By Coating Type
13.3.3.3 Western Europe Coating Equipment Market By Material
13.3.3.4 Western Europe Coating Equipment Market By End-User
13.3.3.5 Germany
13.3.3.5.1 Germany Coating Equipment Market By Coating Type
13.3.3.5.2 Germany Coating Equipment Market By Material
13.3.3.5.3 Germany Coating Equipment Market By End-User
13.3.3.6 France
13.3.3.6.1 France Coating Equipment Market By Coating Type
13.3.3.6.2 France Coating Equipment Market By Material
13.3.3.6.3 France Coating Equipment Market By End-User
13.3.3.7 UK
13.3.3.7.1 UK Coating Equipment Market By Coating Type
13.3.3.7.2 UK Coating Equipment Market By Material
13.3.3.7.3 UK Coating Equipment Market By End-User
13.3.3.8 Italy
13.3.3.8.1 Italy Coating Equipment Market By Coating Type
13.3.3.8.2 Italy Coating Equipment Market By Material
13.3.3.8.3 Italy Coating Equipment Market By End-User
13.3.3.9 Spain
13.3.3.9.1 Spain Coating Equipment Market By Coating Type
13.3.3.9.2 Spain Coating Equipment Market By Material
13.3.3.9.3 Spain Coating Equipment Market By End-User
13.3.3.10 Netherlands
13.3.3.10.1 Netherlands Coating Equipment Market By Coating Type
13.3.3.10.2 Netherlands Coating Equipment Market By Material
13.3.3.10.3 Netherlands Coating Equipment Market By End-User
13.3.3.11 Switzerland
13.3.3.11.1 Switzerland Coating Equipment Market By Coating Type
13.3.3.11.2 Switzerland Coating Equipment Market By Material
13.3.3.11.3 Switzerland Coating Equipment Market By End-User
13.3.3.1.13 Austria
13.3.3.13.1 Austria Coating Equipment Market By Coating Type
13.3.3.13.2 Austria Coating Equipment Market By Material
13.3.3.13.3 Austria Coating Equipment Market By End-User
13.3.3.13 Rest of Western Europe
13.3.3.13.1 Rest of Western Europe Coating Equipment Market By Coating Type
13.3.3.13.2 Rest of Western Europe Coating Equipment Market By Material
13.3.3.13.3 Rest of Western Europe Coating Equipment Market By End-User
13.4 Asia-Pacific
13.4.1 Trend Analysis
13.4.2 Asia-Pacific Coating Equipment Market by Country
13.4.3 Asia-Pacific Coating Equipment Market By Coating Type
13.4.4 Asia-Pacific Coating Equipment Market By Material
13.4.5 Asia-Pacific Coating Equipment Market By End-User
13.4.6 China
13.4.6.1 China Coating Equipment Market By Coating Type
13.4.6.2 China Coating Equipment Market By Material
13.4.6.3 China Coating Equipment Market By End-User
13.4.7 India
13.4.7.1 India Coating Equipment Market By Coating Type
13.4.7.2 India Coating Equipment Market By Material
13.4.7.3 India Coating Equipment Market By End-User
13.4.8 Japan
13.4.8.1 Japan Coating Equipment Market By Coating Type
13.4.8.2 Japan Coating Equipment Market By Material
13.4.8.3 Japan Coating Equipment Market By End-User
13.4.9 South Korea
13.4.9.1 South Korea Coating Equipment Market By Coating Type
13.4.9.2 South Korea Coating Equipment Market By Material
13.4.9.3 South Korea Coating Equipment Market By End-User
13.4.10 Vietnam
13.4.10.1 Vietnam Coating Equipment Market By Coating Type
13.4.10.2 Vietnam Coating Equipment Market By Material
13.4.10.3 Vietnam Coating Equipment Market By End-User
13.4.11 Singapore
13.4.11.1 Singapore Coating Equipment Market By Coating Type
13.4.11.2 Singapore Coating Equipment Market By Material
13.4.11.3 Singapore Coating Equipment Market By End-User
13.4.12 Australia
13.4.12.1 Australia Coating Equipment Market By Coating Type
13.4.12.2 Australia Coating Equipment Market By Material
13.4.12.3 Australia Coating Equipment Market By End-User
13.4.13 Rest of Asia-Pacific
13.4.13.1 Rest of Asia-Pacific Coating Equipment Market By Coating Type
13.4.13.2 Rest of Asia-Pacific Coating Equipment Market By Material
13.4.13.3 Rest of Asia-Pacific Coating Equipment Market By End-User
13.5 Middle East & Africa
13.5.1 Trend Analysis
13.5.2 Middle East
13.5.2.1 Middle East Coating Equipment Market by Country
13.5.2.2 Middle East Coating Equipment Market By Coating Type
13.5.2.3 Middle East Coating Equipment Market By Material
13.5.2.4 Middle East Coating Equipment Market By End-User
13.5.2.5 UAE
13.5.2.5.1 UAE Coating Equipment Market By Coating Type
13.5.2.5.2 UAE Coating Equipment Market By Material
13.5.2.5.3 UAE Coating Equipment Market By End-User
13.5.2.6 Egypt
13.5.2.6.1 Egypt Coating Equipment Market By Coating Type
13.5.2.6.2 Egypt Coating Equipment Market By Material
13.5.2.6.3 Egypt Coating Equipment Market By End-User
13.5.2.7 Saudi Arabia
13.5.2.7.1 Saudi Arabia Coating Equipment Market By Coating Type
13.5.2.7.2 Saudi Arabia Coating Equipment Market By Material
13.5.2.7.3 Saudi Arabia Coating Equipment Market By End-User
13.5.2.8 Qatar
13.5.2.8.1 Qatar Coating Equipment Market By Coating Type
13.5.2.8.2 Qatar Coating Equipment Market By Material
13.5.2.8.3 Qatar Coating Equipment Market By End-User
13.5.2.9 Rest of Middle East
13.5.2.9.1 Rest of Middle East Coating Equipment Market By Coating Type
13.5.2.9.2 Rest of Middle East Coating Equipment Market By Material
13.5.2.9.3 Rest of Middle East Coating Equipment Market By End-User
13.5.3 Africa
13.5.3.1 Africa Coating Equipment Market by Country
13.5.3.2 Africa Coating Equipment Market By Coating Type
13.5.3.3 Africa Coating Equipment Market By Material
13.5.3.4 Africa Coating Equipment Market By End-User
13.5.3.5 Nigeria
13.5.3.5.1 Nigeria Coating Equipment Market By Coating Type
13.5.3.5.2 Nigeria Coating Equipment Market By Material
13.5.3.5.3 Nigeria Coating Equipment Market By End-User
13.5.3.6 South Africa
13.5.3.6.1 South Africa Coating Equipment Market By Coating Type
13.5.3.6.2 South Africa Coating Equipment Market By Material
13.5.3.6.3 South Africa Coating Equipment Market By End-User
13.5.3.7 Rest of Africa
13.5.3.7.1 Rest of Africa Coating Equipment Market By Coating Type
13.5.3.7.2 Rest of Africa Coating Equipment Market By Material
13.5.3.7.3 Rest of Africa Coating Equipment Market By End-User
13.6 Latin America
13.6.1 Trend Analysis
13.6.2 Latin America Coating Equipment Market by country
13.6.3 Latin America Coating Equipment Market By Coating Type
13.6.4 Latin America Coating Equipment Market By Material
13.6.5 Latin America Coating Equipment Market By End-User
13.6.6 Brazil
13.6.6.1 Brazil Coating Equipment Market By Coating Type
13.6.6.2 Brazil Coating Equipment Market By Material
13.6.6.3 Brazil Coating Equipment Market By End-User
13.6.7 Argentina
13.6.7.1 Argentina Coating Equipment Market By Coating Type
13.6.7.2 Argentina Coating Equipment Market By Material
13.6.7.3 Argentina Coating Equipment Market By End-User
13.6.8 Colombia
13.6.8.1 Colombia Coating Equipment Market By Coating Type
13.6.8.2 Colombia Coating Equipment Market By Material
13.6.8.3 Colombia Coating Equipment Market By End-User
13.6.9 Rest of Latin America
13.6.9.1 Rest of Latin America Coating Equipment Market By Coating Type
13.6.9.2 Rest of Latin America Coating Equipment Market By Material
13.6.9.3 Rest of Latin America Coating Equipment Market By End-User
14. Company Profiles
14.1 Nordson Corporation (US)
14.1.1 Company Overview
14.1.2 Financial
14.1.3 Products/ Services Offered
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Anest Iwata (Japan)
14.2.1 Company Overview
14.2.2 Financial
14.2.3 Products/ Services Offered
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Graco Inc. (US)
14.3.1 Company Overview
14.3.2 Financial
14.3.3 Products/ Services Offered
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 C. Oerlikon (Switzerland)
14.4.1 Company Overview
14.4.2 Financial
14.4.3 Products/ Services Offered
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 IHI Ionbond AG (Switzerland)
14.5.1 Company Overview
14.5.2 Financial
14.5.3 Products/ Services Offered
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 SATA GmbH & Co. KG. (Germany)
14.6.1 Company Overview
14.6.2 Financial
14.6.3 Products/ Services Offered
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 Carlisle Companies (US)
14.7.1 Company Overview
14.7.2 Financial
14.7.3 Products/ Services Offered
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 OC Oerlikon Management AG (Switzerland)
14.8.1 Company Overview
14.8.2 Financial
14.8.3 Products/ Services Offered
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 ASAHI SUNAC, CORPORATION (Japan)
14.9.1 Company Overview
14.9.2 Financial
14.9.3 Products/ Services Offered
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Wagner GmbH (Germany)
14.10.1 Company Overview
14.10.2 Financial
14.10.3 Products/ Services Offered
14.10.4 SWOT Analysis
14.10.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
15.3.1 Industry News
15.3.2 Company News
15.3.3 Mergers & Acquisitions
16. Use Case and Best Practices
17. Conclusion
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