Published on : May 16, 2017
Albany, New York, May 16, 2017: The rising demand for coating equipment from diverse industries such as aerospace, automotive, transportation, and building and infrastructure has enabled the market exhibit strong growth over the last few years.
As Asia Pacific has several developing nations and economies, which are in take-off stage, it exhibits a considerably high demand for vehicles. In addition, the booming transport industry has led to strong demand for aircraft as well, which has fuelled the demand for specialty coating equipment. Besides these, rapid industrialization and expansion of the building and infrastructure industries have resulted in the increasing acceptance of coating equipment. Overall, Asia Pacific provides an environment conducive to the market’s growth, and will continue offering lucrative prospects even in the forthcoming years.
A majority of the aforementioned industries use heavy machinery to carry-out numerous processes. To ensure the longevity of these machineries it is very important to protect them from wearing and tearing, abrasion, and corrosion. Hence, industrial coatings are used, to enable the machines function efficiently for a longer time period. In lines of this, expansion of the manufacturing industry will therefore create more lucrative opportunities for the specialty coating equipment market. The increasing demand for industrial coatings will thus aid in the market’s expansion.
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Powder coating on the other hand is used on metal surfaces. It is commonly sprayed on the object to be coated with the help of tribo guns and corona. The coated object is then put inside an oven for cure to enable formation of a uniform film of coatings. Over the next few years, the Asia Pacific specialty coating equipment market is expected to witness greater adoption of powder coatings across industries, as they are free from volatile organic compounds. Also rising focus on environment conservation and the increasing use of eco-friendly products are expected to contribute toward the market’s growth in Asia Pacific.
Globally as well, the Asia Pacific specialty coating equipment market is expected to exhibit the leading CAGR in the coming years. China is currently at the fore of this regional market, and is expected to remain dominant even in the forthcoming years. Besides the rapid industrialization, the rising number of varied end-use industries is expected to positively impact the specialty coating equipment market in Asia Pacific. India is also expected to offer lucrative growth opportunities to the specialty coating equipment market.
Some of the leading companies operating in the Asia Pacific specialty coating equipment market are Nordson Corporation, OC Oerlikon, Asahi Sunac Corporation, Graco, Anest Iwata, Sulzer, Wagner GmbH, IHI, and Sata.
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