Plastic Coatings Industry Grow At A CAGR Of 5.1% | Analysis ...| MENAFN.COM

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Plastic Coatings Industry Grow At A CAGR Of 5.1% | Analysis By Size, Share, Trend, Future Insights And Forecast To 2027


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Plastic Coatings Market Growth

Global plastic coatings industry garnered $6.5 billion in 2019, and is projected to generate $8.8 billion by 2027, growing at a CAGR of 5.1% from 2020 to 2027

OREGON, PORTLAND, UNITED STATES, August 8, 2022 /EINPresswire.com / -- The global plastic coatings industry garnered $6.5 billion in 2019, and is projected to generate $8.8 billion by 2027, growing at a CAGR of 5.1% from 2020 to 2027. Allied Market Research published a report, titled, 'Plastic Coatings Market by Type (Polyurethane, Acrylic, Epoxy, and Others), Process (Dip Coating, Spray Coating, Powder Coating, Electrophoretic Painting, and Others), and End-Use Industry (Automotive, Aerospace & Defense, Building & Construction, Medical, and Others): Global Opportunity Analysis and Industry Forecast 2020-2027.'

Prime determinants of growth
The ongoing trend of lightweight vehicles and increase in adoption from the construction industry propel the growth of the global plastic coatings market. However, strict environmental policies and regulations regarding volatile organic content (VoC) restrict the market growth. On the other hand, emerging end-use industries in developing nations create new opportunities in the next few years.

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Leading Market Players
•Axalta Coating Systems
•BASF SE
•AkzoNobel N.V.
•Keyland Polymer
•Covestro AG
•PPG Industries Inc.
•Wacker Chemie AG
•The Sherwin-Williams Company
•Kansai Paint Co., Ltd.
•Arsonsisi s.p.a.

Covid-19 Scenario
•Daily operations of the coating manufacturing facilities have been stopped during the lockdown. Moreover, R&D activities have been disrupted.
•The supply and distribution activities have been halted in the wake of lockdown imposed by governments for curbing the spread of coronavirus.
•The demand from automotive and construction sectors has been reduced significantly with operations in these sectors halting. However, the demand is expected to increase steadily as restrictions of lockdown are eased off.
•As manufacturing and on-field operations begin, the demand for plastic coatings in different industries would gain gradually.

The epoxy segment to maintain its lead position during the forecast period
By type, the epoxy segment held the highest market share, accounting for nearly two-fifths of the total market share of the global plastic coatings market in 2019, and will maintain its lead position during the forecast period. This is due to its adoption in different applications for its benefits such as better finishing, durability, economical nature, and others. However, the acrylic segment is estimated to grow at the highest CAGR of 5.8% from 2020 to 2027. This is attributed to its benefits including excellent UV resistance, moisture protection, and others.

Get Detailed COVID-19 Impact Analysis on the Plastic Coatings Market @

The spray coating segment to maintain its dominant share throughout the forecast period
Based on process, the spray coating segment contributed to the largest share in 2019, accounting for more than one-fourth of the global plastic coatings market, and is projected to maintain its dominant share throughout the forecast period. This is attributed to its widespread adoption in construction, automotive, and others as it offers ease in applications. However, the powder coating segment is expected to manifest the fastest CAGR of 5.9% during the forecast period, owing to construction of intricate shapes and elimination of pretreatment of components.

Asia-Pacific, followed by North America, to grow at the fastest rate
By region, Asia-Pacific, followed by North America, is projected to witness the largest CAGR of 5.6% from 2020 to 2027. In addition, this region held the largest share in terms of revenue in 2019, accounting for more than one-third of the total share, and will maintain its lead position by 2027. This is attributed to grow of the macroeconomic factors such as GDP growth, industrial production, new residential and commercial construction, and automotive production. The global plastic coatings market report also explores regions including Europe and LAMEA.

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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Analytics LLP
800-792-5285
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