E-coat or electro-coat is an immersion technique in which electrically charged particles are deposited out of a water suspension in order to coat a conductive part. The coat thickness is controlled by the applied voltage. The fundamental principle of e-coat technology is based on the ability of opposite charges to attract. E-coat technique is employed for uniform coating of interior and exterior surfaces. Low volatile organic compound products are used in e-coat as they give off no hazardous air pollutants. An additional environmental advantage of e-coat materials is that they produce very less solid waste compared to other coating techniques.
The e-coat market is segmented on the basis of electro-coating technologies into anodic epoxy, anodic acrylic, cathodic epoxy, and cathodic acrylic. Cathodic acrylic electro coat materials are used for top coat application because of their resistance to UV rays. Based on application, the e-coat market is segmented into automotive parts and accessories, housing and construction, transportation, hardware goods, bulk fasteners, agriculture equipment, military equipment, and aircraft. The electro coating process is segmented as pretreatment, electro coat bath, post rinses, and bake oven.
The global e-coat market has witnessed a decent growth in 2015 and it is expected to continue the same trend during the forecast period (2016-2024). Housing and construction sector along with refurbishment trends act as the main market drivers of e-coat market because of the growing demands for residential buildings, commercial apartments and educational institutions that require both architectural and decorative coatings. Improvement in the number of employees in various organizations is a market driver as it demands more number of transportation facilities such as buses, trailers, rails and auto mobiles which in turn has boosted the e-coat market. The rising demand for electronic gadgets such as mobile phones, laptops, computers and accessories have also boosted the e-coat market. Growing demand of household appliances such as washers/dryers, refrigerators, and dryers as a result of urbanization and dispensable income are another key market drivers of e-coat market. Regulatory pressures also act as a market driver of e-coat as they recommend for low volatile organic compounds. Higher costs of traditional solvent is another significant factor that triggers e-coat market. Consumers’ interest and spending money on sports and recreation equipment are also considered as e-coat market drivers.
Government regulations on air pollution have also influenced the e-coat market since global demand for less volatile organic compounds and hazardous air- free products has increased. Recent progress in nanotechnology has imparted a significant positive change in the e-coat market as incorporation of nanoparticles into paint formulations makes paints more corrosion and scratch resistant. Salient features of e –coat such as uniform coating thickness, complete paint coverage, resistance to mechanical deformation, compatibility with other products, ease of application on a number of substrates, good chemical resistance, and aesthetic finishing have helped it to garner attention in the global market.
In terms of region, the global market for e-coat has been segmented into Asia Pacific, EU, and Latin America. In the Asia -Pacific region, China is expected to play a significant role in the near future followed by India. The key market players of e-coat are based in Eastern Europe and Latin America. Positive response for the e-coat market is expected in the Middle East and Rest of the World as well.
Major players operating in the global e-coat market include PPG Industries, Inc., Akzo Nobel N.V, NIPSEA Group, BASF SE, Axalta Coating Systems, Chugoku Marine Paints Ltd, The Valspar Corporation, and The Sherwin-Williams Company.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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