E-Coat Market Scope
E-coat also known as electrocoating can produce uniform finishes with excellent coverage and outstanding corrosion resistance. It is a process by which electrically charged particles are deposited out of a water suspension to coat a conductive part. During the E-coating process, paint is applied to a part at a certain film thickness, which is regulated by the amount of voltage applied. Further, the deposition is self-limiting and slows down as the applied coating electrically insulates the part. E-coat solids primarily applied in the areas near to the counter electrode and, as these areas become insulated to current, solids are forced into more recessed bare metal areas to offer complete coverage.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Axalta Coating Systems (United States), PPG Industries, Inc. (United States), BASF SE (Germany), Nippon Paint Holdings Co., Ltd. (Japan), Akzo Nobel N.V (Netherlands), The Valspar Corporation (United States), KCC Corporation (South Korea), Luvata Oy (Finland), Hawking Electrotechnology Ltd. (United Kingdom) and NOROO Paint & Coatings Co., Ltd. (South Korea) |
CAGR | 20.3% |
The competitive landscape of the electrocoating market includes information by competitor. Company overview, financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance are all included. The data points presented above are only linked to the companies' concentration on the electrocoating market. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global E-Coat market throughout the predicted period.
Axalta Coating Systems (United States), PPG Industries, Inc. (United States), BASF SE (Germany), Nippon Paint Holdings Co., Ltd. (Japan), Akzo Nobel N.V (Netherlands), The Valspar Corporation (United States), KCC Corporation (South Korea), Luvata Oy (Finland), Hawking Electrotechnology Ltd. (United Kingdom) and NOROO Paint & Coatings Co., Ltd. (South Korea) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Tatung Fine Chemicals Co., Ltd. (Taiwan) and Chugoku Marine Paints Ltd (Japan).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global E-Coat market by Type , by Application (Passenger Cars, Commercial Vehicles, Automotive Parts & Accessories, Heavy Duty Equipment, Appliances and Others) and Region with country level break-up.
On the basis of geography, the market of E-Coat has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, Finland, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
In 2023, Axalta Coating Systems wins AquaEC Flex Broad Bake Electrocoat was awarded a 2023 BIG Innovation Award by the Business Intelligence Group (BIG). The annual business awards program honors organizations, products, and individuals who bring fresh ideas to life in novel ways. and In 2020, Axalta launched a new cathodic tin-free electrocoat primer to its Industrial Coatings range. AquaECT 3500 EP is based on Axalta's next generation, tin-free electrocoat technology and has been specifically formulated to meet the evolving needs of its customers in the automotive parts and accessories, agriculture, construction and earthmoving equipment (ACE), general industry, and industrial job coaters.
EPA promulgated the Electroplating regulation (40 CFR Part 413) in 1974 and amended it in 1977, 1979, 1981 and 1983. The regulation applies to certain facilities that discharge their wastes to POTWs. The requirements are incorporated into permits or other control mechanisms for indirect dischargers.
Influencing Trend:
Rising Consumers Interest and Spending Money on Sports and Recreation Equipment
Market Growth Drivers:
Growing Housing and Construction Sector Coupled With Refurbishment, Increasing Demand for Electronic Gadgets Such As Mobile Phones, Laptops, Computers and Accessories and High Costs of Traditional Solvent
Challenges:
It Oxidizes or Corrodes the Metal Surface During the Deposition Process
Restraints:
High Initial Cost Investment
Opportunities:
Rising Agricultural Equipment Industry and Increasing Demand from Marine and Mid-Stream Sector
Key Target Audience
Electrocoat Service Providers, Suppliers of E-Coat Process Parts, Wholesalers, Distributers and Retailers of E-Coat Process Parts, Automotive Industry, Governmental Bodies and Research Firms