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Coating Equipment Market To Reach USD 30.4 Billion By 2032 | Driven By Rising Applications In Healthcare And Industrial Sectors | Report By SNS Insider
| Report Attributes | Details |
| Market Size in 2023 | USD 18.5 billion |
| Market Size by 2032 | USD 30.4 billion |
| CAGR | 5.7% by 2024-2032 |
| Market Opportunity |
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| Market Segments |
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The Coating Equipment Market is rapidly expanding due to rising demand in industries such as automotive, construction, and aerospace, driven by technological advancements, stricter environmental regulations, and increased automation adoption. Companies are innovating to meet the need for durable coatings, particularly in automotive applications, and eco-friendly systems with reduced environmental impact. For example, Nordson and Durr offer automated coating systems that improve production efficiency and reduce labor costs, while OC Oerlikon Corporation AG contributes with high-performance PVD coating systems for corrosion-resistant applications. Additionally, the shift toward powder and electrostatic spray equipment enhances efficiency and minimizes material waste. Market trends show global expansion and product diversification, evidenced by JSW Paints' plan to enter the auto-coating market in May 2024, and Qemtex's launch of a powder coating plant in the UAE in September 2024. This strategic geographic expansion and innovation signal that coating equipment companies are positioning themselves to better serve global markets, focusing on speed, efficiency, and environmental sustainability. Globalization and technological advancements will continue to drive market growth as companies prioritize precision and environmentally responsible solutions.
Top Companies Operating in the Coating Equipment Industry Worldwide
- Anest Iwata Corporation (Spray Guns, Air Compressors) Asahi Sunac Corporation (Spray Equipment, Automatic Painting Systems) Axalta Coating Systems Ltd. (Liquid Coating Systems, Powder Coating Systems) Buhler AG (PVD Coating Systems, Thin Film Coating Equipment) Carlisle Companies Inc. (Spray Guns, Fluid Handling Equipment) Durr AG (Paint Booths, Atomizers) Exel Industries (Spray Guns, Electrostatic Applicators) Graco Inc. (Airless Sprayers, Electrostatic Sprayers) IHI Ionbond AG (PVD Coating Systems, CVD Coating Systems) ITW Gema AG (Powder Coating Guns, Automatic Coating Equipment) J. Wagner GmbH (Powder Coating Systems, Spray Guns) Larius Srl (Airless Sprayers, Pneumatic Pumps) Nordson Corporation (Powder Coating Systems, Liquid Coating Systems) OC Oerlikon Corporation AG (Thermal Spray Equipment, PVD Coating Systems) Plasmatreat GmbH (Plasma Systems, Surface Treatment Equipment) SATA GmbH & Co. KG (Spray Guns, Air Filtration Systems) SAMES KREMLIN (Electrostatic Spray Guns, Airless Pumps) Sulzer Ltd (Mixing and Dispensing Equipment, Spray Nozzles) Taikisha Ltd (Automated Coating Systems, Paint Circulation Systems) Therma-Tron-X, Inc. (Electrocoating Equipment, Powder Coating Ovens)
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Which segment dominated the Coating Equipment Market?
In 2023, the automotive sector dominated the Coating Equipment Market, capturing around 35% of the market share. The sector's adoption of advanced coating systems is driven by the rising demand for high-quality, durable, and visually appealing finishes for vehicles. Technologies like electrostatic spray systems, widely used in automotive coatings, offer superior coverage and uniformity, crucial for efficient mass production. Companies such as Nordson Corporation have contributed to this growth by providing coating equipment that enhances both the appearance and durability of automotive products. Additionally, automotive coatings play a vital role in protecting vehicles from corrosion, UV degradation, and wear, making them a key component of the manufacturing process.
What are the driving factors of the Coating Equipment market?
- Continuous innovations in coating technologies, such as nanocoatings, automated coating systems, and smart coatings, are driving the demand for advanced coating equipment. These technologies improve the efficiency and quality of coatings applied in diverse industries, accelerating market growth. The shift toward environmentally friendly coatings, like waterborne and powder coatings, has led to increased demand for coating equipment that can efficiently apply these sustainable materials. This trend is especially prominent in the automotive, aerospace, and construction industries. Coating equipment is seeing increasing use in healthcare applications, including medical devices and implants, where coatings are critical for improving performance and longevity. The growing healthcare industry presents new opportunities for coating equipment manufacturers.
What are the opportunities in the Coating Equipment market?
- As developing regions such as Asia-Pacific and Latin America experience industrial growth, the demand for coating equipment is expected to rise. These markets are witnessing an increased adoption of industrial coatings in the automotive, aerospace, and infrastructure sectors, providing new opportunities for manufacturers. The increasing integration of automation and IoT technologies into coating systems offers significant opportunities. These innovations improve the precision, monitoring, and efficiency of coating processes, which is expected to drive the demand for advanced coating equipment in industries like automotive and healthcare.
Which region dominated the Coating Equipment market?
In 2023, the Asia-Pacific region dominated the Coating Equipment Market with a 40% share, driven by rapid industrialization and growth in manufacturing sectors across China, India, Japan, and South Korea. China's automotive and electronics industries boost demand for advanced coatings, while Japan's automotive giants like Toyota and Honda invest in cutting-edge equipment. India's expanding automotive and construction sectors also contribute to the region's dominance, which benefits from cost-effective production and significant infrastructure investments.
Recent Developments:
- July 2023: Austria-based Miba AG invested USD 17.6 million in opening a new manufacturing facility in South-Eastern Styria. The expansion aimed to double the production area from 3,000 square meters to 6,300 square meters. The facility was built to improve the production of coating systems and related equipment. May 2023: Sames Kremlin launched a new electrostatic spray gun named Nanogun Airmix Xcite for automotive and wood coating applications. It was designed to deliver excellent performance during operation and was available in 3 pressure ranges: 120, 200, and 400 bar.
The Coating Equipment market is expected to experience significant growth over the forecast period, driven by technological innovations, rising demand for sustainable coatings, and increased adoption in the healthcare and industrial sectors. The market is set to benefit from the ongoing shift towards automation and smart technologies in coating systems, with regions like Europe leading in demand. As industries focus on enhancing product quality, durability, and environmental impact, the demand for advanced coating equipment continues to rise, offering robust opportunities for growth.
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1 No. Of Pages: 350 Pages Report
2 Regions/Countries:
- North America (3 Countries) Europe (~15 Countries) Asia Pacific (~10 Countries) Latin America (~5 Countries) Middle East & Africa (~5 Countries) (Include Israel)
3 ME Sheet: Market Estimation in Excel Format
4 Company Analysis :
- Major 16 companies covered in final report. Additional 5 companies will be covered as per client demand complimentary.
5 Statistical Insights and Trends Reporting:
- Vehicle Production and Sales Volumes, 2020-2032, by Region Emission Standards Compliance, by Region Vehicle Technology Adoption, by Region Consumer Preferences, by Region
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- Single User License: USD 3350 Enterprise User License: USD 5350 Excel Data Sheet: USD 2350
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