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    Market Research

    Electrical Appliance Coatings Market Worth $10.2 Billion by 2030: Transparency Market Research

    ...

    Electrical Appliance Coatings Market Worth $10.2 Billion by 2030: Transparency Market Research
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    Transparency Market Research08.06.20

    The global electrical appliance coatings market was valued at ~$6.2 billion in 2019 and is anticipated to expand at a CAGR of ~6% during the forecast period. The global electrical appliance coatings market is driven by an increase in demand for electrical appliances from the rising population of Asia Pacific. Asia Pacific accounts for a major share of the global electrical appliance coatings market, led by high demand for electrical appliance coatings, among appliance manufacturers in the region.

     

    Plastic usage in the coating of electrical appliances is dependent on the number of appliances being produced. Asia Pacific was a dominant region of the electrical appliances industry in terms of production as well as consumption in 2016. It was followed by Europe and North America. A large amount of internal trading takes place in Europe, along with imports from other regions, which sustains demand for electrical appliances in the region. In terms of application, personal care appliances constituted a significant share of 20.4% of the overall electrical appliance production in 2016. It was followed by small cooking appliances (14.1%) and air treatment products (11.9%). 

     

    Overall, the consumption of electrical appliances is likely to be lower than the production in the near future. The demand for electrical appliances has been rising over the past couple of years. It is impacted by several factors such as availability of products, trends in an individual appliance segment, product development, per capita expenditure, disposable income, and economic factors. The growth in the production of electrical appliances is expected to boost the demand for electrical appliance coatings in the near future.

     

    The global electrical & electronics sector has expanded by about 3% per year in the 21st Century. The sector has expanded significantly in Asia Pacific due to the presence of the strong electrical & electronics industry in China, Japan, and South Korea. More than half of the production of electrical appliances in the world is estimated to be contributed by Asia Pacific in the near future. In terms of production, North America and Europe cumulatively accounted for about 30% share of electrical appliances in the world in 2016.

     

    Research and development of new technologies are one of the major factors driving the electronics & electrical industry. Positive economic conditions enable foreign investments, better infrastructure means for research and development, a rise in purchasing power, etc. In developing countries with the availability of cheaper labor and low manufacturing costs, the subsequent final product price is cheaper compared to that in developed regions. The increase in the GDP of developing as well as developed countries in Asia Pacific is expected to boost the electrical appliances industry in the region. This, in turn, is estimated to propel the demand for electrical appliance coatings in the region in the near future.

     

    Some plastics are harder to recycle as compared to others. For instance, LDPE films are difficult to recycle, sort, and collect. Due to low density, LDPE bales are uneconomical to transport. Recycling of LDPE or other flexible plastics is highly difficult. They cannot be used for the same application again. Hence, down-cycling is the only option available. These films are usually converted into garbage bags or plastic timber after which, they become useless and need to be incinerated or landfilled. Furthermore, flexible plastics create operational issues by clogging recycling and washing equipment and machines in processing plants. They are also expensive in terms of decontamination and sorting.

    Prices of oil and gas directly affect the cost of plastic manufacturing. Volatility in prices of oil and gas affects the raw material cost of virgin plastic. For instance, a decline in prices of oil and gas can result in a substantial decrease in the prices of virgin polymers. As a result, demand for recycled plastics decreases, since prices of virgin plastics are low. Thus, volatility in the prices of virgin plastics creates fluctuations in demand for recycled plastics.

     

    Most plastics are non-biodegradable and remain in the environment for decades. Therefore, various regulations have been imposed on the manufacture of plastics as well as their usage in different end-use industries in order to regulate the production of plastics and plastic waste. For instance, the usage of polycarbonate is prohibited in applications with food contact in the U.S. These regulations and environmental concerns are projected to negatively impact the electrical appliances films market. In turn, this is estimated to hamper the global electrical appliance coatings market.

     

    Asia Pacific is a leading region of the global electrical appliance coatings market. It is a global manufacturing hub. The prevalence of low-cost labor, lenient government regulations, inexpensive raw materials, and high demand for electrical appliances have rendered the countries in Asia Pacific such as China, Thailand, Malaysia, India, South Korea, and Indonesia attractive manufacturing destinations for several electrical appliance brands. This has contributed to the dominant share of Asia Pacific (53.5%) in terms of global demand for electronic appliance coatings.

     

    Europe also plays an important role in the global electronic appliance coatings market. Various electrical appliances such as small cooking products, food preparation appliances, and dishwashers are manufactured in Europe. Thus, the demand for electrical appliance coatings is high in the region. This is augmenting the electrical appliance coatings market in Europe.

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