The global e-coat market is expected to show significant growth over the forecast period owing to the rising demand from the automotive industry. Electrocoat (e-coat) is a stable emulsion of de-ionized water and organic resins comprising of solvents and ionic components. Electrocoat or electrocoating process uses electric current to deposit paint on the metal parts. The process follows a sequence of operations starting with cleaning, rinsing, acid etching, rinsing again, wetting agent dip, electrocoat rinsing and recovery and curing with either infra-red or convection oven. Increasing demand for electrocoat process as it is automated and provides a cheaper alternative to other coating techniques is anticipated to spur the electrocoat market growth over the upcoming period. Rising demand for electrocoat in the coatings owing to greater corrosion-resistance, higher efficiency, environment friendliness and superior throw power is expected to augment the market growth over the forecast period. Moreover, ongoing advancement in technology and introduction of new techniques including anodic epoxides, cathodic epoxides, anodic acrylics and cathodic acrylics is predicted to boost the demand for electrocoating. However, high maintenance and construction cost of e-coat line and restrictions in color changes are expected to restrain the market growth over the forecast period. Moreover, exposure to sunlight which leads to breaking down of the coating owing to UV light is further expected to restrict the demand for electrocoat over the next seven years.
Electrocoat find use in various applications in various sectors including automotive, heavy-duty equipment, building & household products, bulk finishing, decorative, military & defence, sports & recreation, agricultural, electric housing appliances, steel castings, engines, computer components, electronics, beverage containers, metal furniture, marine and power transformers. Rapid growth in the automotive sector is expected to surge the demand for electrocoat owing to their rising application as finishers for automotive parts. Moreover, growing demand from numerous applications including eyeglass frames, hand tools, hardware, extrusions and costume jewellery owing to its decorative use is anticipated to contribute towards the e-coat market growth. Increasing use of electrocoat for bulk finishing and heavy-duty equipment is anticipated to propel market demand over the forecast period. Furthermore, rising demand for electrical and electronic products coupled with increasing use of electrocoat in metal furniture is predicted to augment the market growth over the next seven years.
North America is expected to contribute significantly towards electrocoat market growth over the forecast period owing to increasing vehicle production in the U.S. Moreover, increasing demand for electrocoat in military & defence equipment along with building & household products is anticipated to augment the market growth over the upcoming years. Asia Pacific is anticipated to provide an ocean of opportunities for the e-coating market growth owing to the rising demand from the automotive sector particularly in China, India and Japan. In addition, increasing manufacturing of electrical and electronic products in China is expected to contribute towards market demand over the forecast period. Europe is anticipated to witness positive growth owing to the increasing demand from the automotive and electrical industries. Moreover, rising demand from sports & recreation industry in this region is expected to contribute positively towards market growth over the forecast period. Latin America and MEA are expected to show moderate the market growth over the next seven years owing to the rising demand from building & household along with the automotive industry.
Global key players in the e-coat market include BASF, DuPont, KMI Systems Inc., PPG Industries, Insuladd, Ecoat, B.L. Downey Company LLC, Hartford Finishing Inc., Superior Industrial Coating, Inc., George Koch Sons, LLC, Valmont Coatings, Pioneer Metal Finishing, Barron Metal Finishing LLC and U.S. Chrome Corporation of New York. DuPont offers CorMax electrocoat which provides higher corrosion resistance, superior throw power, environment friendly and more efficient coating process. CorMax provides lower cure temperatures which reduce process time and energy costs. Moreover, the e-coat is environmentally sustainable owing to its heavy metal, low VOC formulation and HAPs-free properties. PPG Industries offers Powercron which provides edge coverage, corrosion resistance and protective throw power that makes it ideal for various applications including military & defence, automotive, building & household products, and sports & recreation.
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The prevailing pandemic situation has led to weakened demand for paints and coatings in automotive, construction, electronics, and white goods. The path to recovery of growth for the industry is highly dependent on the duration of restrictions imposed and their influence on economic activity across the globe. Contrary to the trend prevalent in the industry in general, certain segments of the market such as antimicrobial coatings are witnessing a surge in demand in healthcare and food industries. The report will account for Covid19 as a key market contributor.