The plastic coatings market is projected to reach USD 7.76 Billion by 2021, at a CAGR of 5.5% during the forecast period, 2016 to 2021. This growth is driven by the increasing demand from automotive end-use industry and increasing trend towards green, environment-friendly coating materials.
Plastic coating is the process of covering the surface of a substrate with coating resins, to enhance its functional, protective, and decorative properties. The type of resin mix and plastic substrate largely determines the coating’s performance and characteristics, such as resistance from water and scratch, ability to protect against corrosion, and providing gloss or matt finish. Commonly, polyurethane, acrylic, epoxy, and vinyl resins are used in plastic coatings
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=244381443
Automotive end-use industry is expected to lead the plastic coatings market by 2021
Automotive end-use industry of plastic coatings market constituted major share to the application segment of the plastic coatings market in 2015. The growing demand for plastic coatings from the automotive end-use industry is anticipated to drive the demand for plastic coatings, owing to the functionality, durability, and performance benefits.
Polyurethane plastic coatings to account for the largest share of the plastic coatings market by 2021
Polyurethane contributed around one third of the global plastic coatings market share in 2015. It is expected to grow at a significant CAGR during the forecast period. Polyurethane plastic coatings have high performance benefits, such as strength, flexibility, abrasion resistance, and moisture resistance. This makes them suitable for wooden, plastic, and other surfaces.
Dip coating process to lead the plastic coatings market during the forecast period
Dip coating process accounted for the largest share of the plastic coatings market in 2015. It is one of the most widely used processes in the plastic coatings market, due to its ease of use to coat complex shapes. Additionally, this process does not require expensive equipment. Dip coating process is mainly used for coating medical instruments, electrical equipment, as well as automobiles.
Europe to account for the largest share of the market during the forecast period
Europe accounted for the largest share of the plastic coatings market in 2015, followed by North America and Asia-Pacific. Europe is one of the major consumers of plastic coatings. Increasing investment by leading automakers in European countries, followed by the growing automotive OEM market is anticipated to enhance the European plastic coatings market.
Key players operational in the plastic coatings market include PPG Industries Inc. (U.S.), Eastman (U.S.), Bayer AG (Germany.), Axalta Coating Systems (U.S.), AkzoNobel N.V. (Netherlands), 3M (U.S.), Eastman (U.S.), Kansai Paints Co,. Ltd. (Japan), Valspar Corporation (U.S.), BASF SE (Germany), and Wacker Chemie AG (Germany).
Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=244381443
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments.
MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Address:630 Dundee Road Suite 430
State: IL 60062
Country: United States