Industry Background:
A coating is a covering that is applied to the surface of an object, usually referred to as the substrate. Consumer appliance coatings mainly contain epoxy, epoxy PE hybrid and thermoplastic. Due to the consistent economic growth in the Asia-Pacific countries, the demand for home appliances is growing at a significant rate. Furthermore, the technological advancements in smartphone features, such as easy access to the Internet, are boosting the demand for consumer appliance coatings industry.This growth is primarily driven by Increasing Demand for Eco-Friendly Coatings, Surging Need for Efficient Process and Durable Coatings with Better Aesthetics and Increase in Population Worldwide and the Rise in Disposable Incomes in Emerging Economies.
Globally, a noticeable market trend is evident Development of New Anti-Slip Coating Technology. Major Vendors, such as Akzo Nobel N.V. (Netherland), Axalta Coatings System (United States), PPG Industries (United States), Jotun (Norway), Sherwin-Williams (Unites States), Nippon Paint (Japan), Shandong Meijia Group Co. Ltd. (China), Lucky Huaguang Graphics Co. Ltd (China), Guangzhou Kinte Group (China) and Zhejiang Huacai Chemical Co., Ltd. (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In December 2018, Akzo Nobel N.V. has signed and closed the acquisition of Swire Industrial Limited’s minority interest in the AkzoNobel Swire Paints (ANSP) joint venture. AkzoNobel acquires full ownership of Chinese decorative paints joint venture
Regulatory Insights:
The Federal Hazardous Substances Act (FHSA) requires precautionary labeling on the immediate container of hazardous household products to help consumers safely store and use those products and to give them information about immediate first aid steps to take if an accident happens. The Act also allows the Consumer Product Safety Commission to ban certain products that are so dangerous or the nature of the hazard is such that the labeling the act requires is not adequate to protect consumers.
Market Drivers
- Increasing Demand for Eco-Friendly Coatings
- Surging Need for Efficient Process and Durable Coatings with Better Aesthetics
- Increase in Population Worldwide and the Rise in Disposable Incomes in Emerging Economies
Market Trend
- Development of New Anti-Slip Coating Technology
Restraints
- Stringent Regulatory Policies
Opportunities
Increasing Use of Nano-Coatings Worldwide and The Growth in Industrialisation and Urbanisation Globally
Challenges
Lack of Consumer Awareness About the Use and Benefits of Waterborne Coatings in Developing Nations
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Consumer Appliance Coatings Study Sheds Light on
The Consumer Appliance Coatings Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Consumer Appliance Coatings industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Consumer Appliance Coatings industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.