E-coat is a unique immersion coating process in which electrically charged particles are deposited out of a water suspension to coat a conductive part. In this process, a positive charge is applied to the paint bath and a negative charge is applied to the parts to be-coated. The paint particles are suspended in water. The paint allows an electric current to travel from one paint particle to another till it reaches the part where the paint particles electrically attach themselves to the surfaces of the part. The parts are then processed through a bake oven where the paint is melted onto the part for fusion bonding and then heat cured to form a hard and durable film to coat the part.
The drivers identified for the electrocoating market are growing automotive and appliance industry. Developing countries such as China, India, and Brazil are the major consumers of e coat. The market in countries of Middle East and Africa are also growing. In developed countries such as the U.S., Spain, Germany, Japan, and Italy, the market is growing at a low to moderate rate.
Asia-Pacific is the largest market for e-coat, both in terms of volume and value, followed by Western Europe and North America. The key companies in this market are Axalta Coating Systems (U.S.), BASF SE (Germany), Hawking Electrotechnology (U.K.), KCC Corporation (South Korea), Koch Membrane Systems Inc. (U.S.), Luvata Oy (Finland), MetoKote Corporation, Inc. (U.S.), Nippon Paint Holdings Co., Ltd. (Japan), PPG Industries, Inc. (U.S.), Luvata Oy (Finland), and the Valspar Corporation (U.S.).
The e-coat market, in terms of value and volume, is estimated by considering the current and future projections according to the economic and industrial outlook. This analysis also covers important developments, expansions, partnerships & agreements, and mergers & acquisitions of the leading global companies.
The market size, in terms of value, of e-coat was estimated to be about USD 2.87 Billion in 2015 and is projected to reach USD 3.69 Billion by 2020, at a CAGR of 5.12% between 2015 and 2020.
The market size of e-coat majorly depends on new production of automobiles such as passenger cars, commercial vehicles, heavy duty construction, and agricultural equipments. The e-coat offers superior performance and are cheaper. They also comply with environmental regulations. Because of this characteristics, e-coat is in high demand in end-use industries such as appliances, automotive, construction, and furniture. The restraints in the market is the initial high cost of capital equipment. The opportunities for the e-coat industry are growing automotive market in Asia-Pacific and the Middle-East, booming agricultural equipment industry, and others.