Global Plastic Coating Market Status and Prospect, Forecast 2018 to 2026
Posted by Andreas Winkler on January 24th, 2018
Plastic coating excludes water and air from the metal surface by giving the metal a thick, wear resistance and glossy finish. The metal is thoroughly cleaned to remove all the dirt and foreign elements; this is usually done by degreasing agent or chemical cleaning. Polyurethane plastic coatings are preferred owing to factors such as abrasion resistance and moisture resistance making plastic coating suitable for wooden, plastic, and other surfaces.
Increasing application of plastic coating in automotive sector is a major factor driving growth of the global plastic coating market. In addition, rapid urbanization and industrialization is further boosting demand for plastic coating, which is expected to further drive growth of the global plastic coating market. Increasing acceptance owing its features such as insulation against cold, heat, stress, and electric currents are factors further fueling growth of global plastic coating market. Moreover, plastic being weightless its use in aerospace sector is also one of the factor for its increasing adoption, which is expected to drive growth of the global market to a significant extent during the forecast period.
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A major factor hampering growth of the global plastic coating market is government norms regarding emission of volatile organic compound (VOC). In addition, availability of specialized raw material and substitutes may hamper growth of the global plastic market. Moreover, technological advancements and increasing demand for bio-based or eco-friendly plastic coating are likely to create more opportunities for major players in the global plastic coatings market during the forecast period.
North America dominates the global plastic coating market owing to presence of major manufacturers in this region. The market in Europe is expected to witness significant growth owing to growing automotive sector. The market in Asia Pacific is projected to witness relatively fast growth and is expected to register a CAGR of X.X% during the forecast period.
Key players in the plastic coating market are Akzo Nobel N.V., The Dow Chemical Company, Bayer AG, Axalta Coating Systems, The Sherwin-Williams Company, PPG Industries Inc., BASF SE, DuPont, Kansai paints, and Valspar Corporation.
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