Plastic Coating Market Size, Share, Growth Report 2032

Plastic Coating Market Insights

Zion Market Research has published a report on the global Plastic Coating Market, estimating its value at USD 6.57 Billion in 2023, with projections indicating that it will reach USD 10.28 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 5.1% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Plastic Coating Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Market Overview   

Plastic coatings are utilized in various applications in several sectors like oil & gas, building & construction, automotive, electronics, aerospace, and defense. Some Functional uses of plastic coatings include corrosion inhibition, thermal resistance, abrasion resistance, chemical resistance, UV resistance, lubrication, mechanical property enhancement, surface finish, and esthetics. Implementation of an upper number of environmentally-friendly regulations is predicted to encourage manufacturers within the coatings industry to choose water-based plastic coatings. The plastic coating market has witnessed significant growth owing to rising demand for the industry. Moreover, the increasing demand from the development sector provides an enormous market opportunity for the key players operating within the plastic coatings market. However, the decline in the automotive industry is projected to hamper the general growth of the plastic coatings market.

With the presence of an outsized pool of participants, the worldwide plastic coating market is displaying a highly competitive business landscape. Players are focusing aggressively on innovation, also as on including advanced technologies in their existing products. Over the approaching years, they're also expected to require partnerships, and mergers & acquisitions as their key strategy for business development. During a major relief to the plastic coating market, researchers at the Georgia Institute of Technology found that when plant cellulose is combined with chitin, the hard substance or substrate that creates up clamshells of shellfish also as exoskeletons of lobsters, it produced recyclable plastic coatings.

Growth Factors

Wide product demands from the automotive & construction sectors alongside user-friendly & features are anticipated to reinforce the plastic coating market trends over subsequent few years,” says the author of this study. aside from this, the plastic coating is more durable & efficient as compared to its traditional counterparts and has the power to reinforce the performance. Rapid urbanization witnessed in developing countries and high product demand in these economies is projected to spur the expansion of the plastic coating market over the following years.  Adverse effects on the ecology due to VOC emissions, however, can hinder the progression of the plastic coating market within the near future. Nevertheless, current research activities on developing bio-based coatings are forecast to make lucrative growth avenues for the business over the next few years, thereby normalizing the impact of hindrances on the plastic coating market.

Plastic Coating Market: Report Scope

Segment Analysis Preview

The Plastic Coating market is segmented based on type, process, end-user, and region. Based on types, the plastic coating market can be segmented as acrylic, polyurethane, epoxy, and other types. The plastic coating includes the process such as powder coating, dip coating, electrophoretic painting, spray coating, and another process. Numerous end users for plastic coating are aerospace and defense, automotive, medical, building and construction, and other end-user.

Based on type, the polyurethane segment contributed the second-highest share to the plastic coatings market, in terms useful in 2018. For coating applications, a cross-linked film is preferred over thermoplastic urethanes. The polyurethane coating resins market is very hooked into the expansion of markets for automotive, floors, boats, and metal objects. Two features of polyurethane coating resins that are often considered disadvantages are its high cost, and handling of probably hazardous isocyanates that are used as curing agents for manufacturing. Superior performance and therefore the ability to cure at lower baking temperatures make polyurethane a serious plastic coating material in various end-use applications.

Major end-use industries for the plastic coatings market include automotive and aerospace & defense industries. Within the automotive industry, plastic coatings are utilized in battery trays, seat springs and brackets, radiator grilles,  filler pipes, door handles, and safety belt loops, among others. Plastic coating provides various advantages, like impact, heat, resistance from corrosion, and wear. Additionally, it's cost-effective and straightforward to use. Increased use of plastic coatings in automotive manufacturing and growing concern regarding carbon emissions are predicted to boost the plastic coatings market during the forecast period.

Regionally, Europe has been leading the worldwide plastic coating market and is anticipated to continue on the dominant position within the years to return. The presence of leading automobile producers and rapidly flourishing automotive OEM market within the region is that the main factor behind the dominance of the European plastic coating market. Furthermore, extensive use of plastic coating in aerospace and construction applications in Europe is predicted to contribute substantially towards the expansion and dominance of the European plastic coating market within the years ahead.

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Key Market Players & Competitive Landscape

Some of the global major players in the plastic coating are:

• Akzonobel N.V.
• BASF SE
• PPG Industries, Inc.
• 3M
• Kansai Paint Co., Ltd
• Diamond Vogel Paints
• Wacker Chemie AG
• Bayer AG
• Eastman Chemical Company
• Valspar Corporation
• Axalta Coating Systems Ltd.
• AkzoNobel NV
• Nippon Paint Co. Ltd. among others.

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The global Plastic Coating market is segmented as follows:   

By Type

• Acrylic
• Polyurethane
• Epoxy
• Others

By Process

• Powder coating
• Dip coating
• Electrophoretic painting
• Spray coating
• Others

By End-User

• Aerospace and defense
• Automotive
• Medical
• Building and construction
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa