LONDON--(EON: Enhanced Online News)--According to the latest market study released by Technavio, the global electrocoating market is expected to grow at a CAGR of more than 5% during the forecast period.
“Properties such as low cost, UV durability, and corrosion protection make electrocoating a preferred option in the heavy-duty equipment industry. The cost-efficient nature of the electrocoating provides an economic edge”
This research report titled ‘Global Electrocoating Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global electrocoating market into three major application segments. They are:
- Heavy-duty equipment
Global electrocoating market for automobiles
Electrocoating is the commonly used coating technology in automotive applications. In automobiles, electrocoating technologies are used to protect the automobile components from corrosion, UV radiation, pollution, and acid rain. These coatings are used to improve the chipping resistance and durability of the vehicle and protect the vehicle in exterior environment and different weathering conditions such as UV radiation, heat and cold, and dust and pebbles from the road.
“Electrocoating technology is widely used in automobile applications, due to its superior color and gloss control and final finish. Electrocoating coatings are mainly used on the exterior and interior of automobiles, and in under-the-hood areas. These coatings are preferred as they provide excellent chemical resistance to automobile parts and thus prolong the life of the vehicles,” says Ajay Adhikari, a lead analyst at Technavio for paints, coatings, and pigments research.
Global electrocoating market for heavy-duty equipment
Heavy-duty equipment, which is typically employed in the agriculture, construction and mining industries, operates in exterior and hostile environmental conditions. Thus, it requires durable paint coatings to protect it from corrosion and enable chemical resistance.
“Properties such as low cost, UV durability, and corrosion protection make electrocoating a preferred option in the heavy-duty equipment industry. The cost-efficient nature of the electrocoating provides an economic edge,” says Ajay.
Global electrocoating market for appliances
Electrocoating is predominantly used in the coating of several appliances such as refrigerators, laundry machines, microwaves, freezers, ovens, and dishwashers. Electrocoating is preferred in appliances applications because it provides superior color and gloss retention, which helps to attract consumers.
Electrocoating can be used as primers as well as one coat finish in appliance application as per the requirement. Electrocoating is used as a primer to provide corrosion resistance in various applications such as laundry appliances. In electrocoating, cathodic acrylics are commonly used for one-coat solutions for the topcoat finish.
The top vendors highlighted by Technavio’s chemicals and materials market research analysts in this report are:
- Axalta Coating Systems
- PPG Industries
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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