HOME Top Market Reports Coating Equipment Market by Type (Liquid Coating Equipment, Powder Coating Equipment, and Specialty Coating Equipment), End User Industry (Automotive & Transportation, Aerospace, Industrial, and Building & Infrastructure) - Global Forecast to 2021

Coating Equipment Market by Type (Liquid Coating Equipment, Powder Coating Equipment, and Specialty Coating Equipment), End User Industry (Automotive & Transportation, Aerospace, Industrial, and Building & Infrastructure) - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: February 2017
Report Code: CH 4994

 

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The coating equipment market was valued at USD 13.79 Billion in 2015 and is projected to reach USD 19.33 Billion by 2021, at a CAGR of 5.8% between 2016 and 2021.

Objectives of the report are as follows:

  • To define and segment the market for coating equipment
  • To provide detailed information regarding major factors, such as drivers, restraints, opportunities, and challenges influencing the growth of the coating equipment market
  • To analyze and forecast the size of the coating equipment market, in terms of value
  • To analyze market segmentation of the coating equipment market and estimate market sizes, in terms of value for various key regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and South America
  • To analyze competitive developments, such as new product launches/developments, capacity expansions, mergers & acquisitions, and partnerships & agreements taking place in the coating equipment market
  • To strategically profile key players operating in the coating equipment market

The base year considered for this study is 2015, while the forecast period is between 2016 and 2021.

Both, top-down and bottom-up approaches have been used to estimate and validate the size of the coating equipment market and to estimate the sizes of various other dependent submarkets. The research study that has been carried for this report involve extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg, Chemical Weekly, Factiva, and other government and private websites to identify and collect information useful for this technical, market-oriented, and commercial study of the coating equipment market.

Coating Equipment Market

To know about the assumptions considered for the study, download the pdf brochure

The value chain of the coating equipment market includes sourcing of basic raw materials, manufacturing and supplying coating equipment, and use of coating equipment in various end-use industries. The raw materials used for manufacturing coating equipment are metal parts, electrical circuits, plastic, and other components. Nordson Corporation (U.S.), Anest Iwata (Japan), Graco Inc. (U.S.), O.C. Oerlikon (Switzerland), IHI Ionbond AG (Switzerland), and SATA GmbH & Co. KG. (Germany), among others are the leading manufacturers of coating equipment.

Key Target Audience:

  • Raw Material Suppliers
  • Manufacturers of Coating Equipment
  • Coating Applicators, Traders, Distributors, and Suppliers of Coating Equipment
  • Government & Regional Agencies, Research Organizations, and Investment Research Firms

Scope of the Report:

This research report categorizes the coating equipment market on the basis of type, end-use industry, and region.

Coating Equipment Market, by Type:

  • Liquid Coating Equipment
  • Powder Coating Equipment
  • Specialty Coating Equipment

Coating Equipment Market, by End-Use Industry:

  • Automotive & Transportation
  • Aerospace
  • Industrial
  • Building & Infrastructure
  • Others

Coating Equipment Market, by Region:

  • North America
  • Europe
  • Asia-Pacific
  • Middle East & Africa
  • South America

The market is further analyzed for the key countries in each of these regions.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to specific needs of the companies. The following customization options are available for the report:

Regional Analysis:

  • Further breakdown of a region into major countries

Company Information:

  • Detailed analysis and profiling of additional market players

Product Analysis

  • Product Matrix, which gives a detailed comparison of product portfolios of each company

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 By Region
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Opportunities in Coating Equipment Market
    4.2 Asia-Pacific Coating Equipment Market, 2015
    4.3 China Projected to Lead Coating Equipment Market, During Forecast Period
    4.4 Asia-Pacific Projected to Lead Coating Equipment Market, During Forecast Period, (2016-2021)

5 Market Overview (Page No. - 31)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Type
           5.2.2 By End-Use Industry
           5.2.3 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increase Demand From Growing End-Use Industries
                    5.3.1.2 Development of Coating Processes and Advanced Coating Equipment
           5.3.2 Restraints
                    5.3.2.1 High Cost of Coating Equipment
                    5.3.2.2 Fluctuating Crude Oil Prices and Currency
                    5.3.2.3 Slump in European Industrial Production
           5.3.3 Opportunities
                    5.3.3.1 New Product and Technology Developments in Coating Industry
                    5.3.3.2 Opportunities in Emerging Economies
           5.3.4 Challenges
                    5.3.4.1 Changes in Consumer Preferences
                    5.3.4.2 Development of Cheaper Equipment for Multiple Coatings
           5.3.5 Impact Analysis

6 Industry Trends (Page No. - 38)
    6.1 Introduction
    6.2 Value Chain Analysis
           6.2.1 Raw Material Suppliers
           6.2.2 Manufacturers
           6.2.3 Equipment Suppliers/Service Providers
           6.2.4 End Use Industry
    6.3 Porter’s Five Force Analysis
           6.3.1 Threat 0f New Entrants
           6.3.2 Bargaining Power of Suppliers
           6.3.3 Threat of Substitutes
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Competitive Rivalry
    6.4 Macroeconomic Overview
           6.4.1 Introduction
           6.4.2 Trends and Forecast of the Manufacturing Industry, By Country
           6.4.3 Passenger Cars Sales Growth, 2011–2015
           6.4.4 Aerospace Industry Trends

7 Coating Equipment Market, By Type (Page No. - 48)
    7.1 Introduction
           7.1.1 Liquid Coating Equipment
                    7.1.1.1 Conventional Spray Guns
                    7.1.1.2 Airless Spray Gun
                    7.1.1.3 Airless Air-Assisted Gun
                    7.1.1.4 Electrostatic Spray Gun
                    7.1.1.5 Hot Spray
                    7.1.1.6 Roller Coating
                    7.1.1.7 Curtain Coating
                    7.1.1.8 Dip Coating
           7.1.2 Powder Coating Equipment
                    7.1.2.1 Spray Gun
                               7.1.2.1.1 Corona Gun
                               7.1.2.1.2 Tribo Gun
                    7.1.2.2 Oven
                    7.1.2.3 Air Compressor
           7.1.3 Specialty Coating Equipment
                    7.1.3.1 Pvd Equipment
                               7.1.3.1.1 Advantages
                               7.1.3.1.2 Disadvantages
                    7.1.3.2 Cvd Equipment
                               7.1.3.2.1 Advantages
                               7.1.3.2.2 Disadvantages
                    7.1.3.3 Thermal Spray Equipment
                               7.1.3.3.1 Thermal Spray Guns
                               7.1.3.3.2 Plasma Spray Guns
                               7.1.3.3.3 Wire Flame Spray Guns
                               7.1.3.3.4 Electric ARC Spray Guns
                               7.1.3.3.5 Powder Flame Spray Guns
                               7.1.3.3.6 HVOF Spray Guns
                               7.1.3.3.7 Feeders

8 Coating Equipment Market, By End-Use Industry (Page No. - 58)
    8.1 Introduction
    8.2 Automotive & Transportation
    8.3 Aerospace
    8.4 Industrial
    8.5 Building & Construction
    8.6 Others

9 Coating Equipment Market, By Region (Page No. - 67)
    9.1 Introduction
    9.2 North America
           9.2.1 U.S.
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 Germany
           9.3.2 France
           9.3.3 Netherlands
           9.3.4 Russia
           9.3.5 U.K.
           9.3.6 Turkey
           9.3.7 Rest of Europe
    9.4 Asia-Pacific
           9.4.1 China
           9.4.2 India
           9.4.3 Japan
           9.4.4 South Korea
           9.4.5 Indonesia
           9.4.6 Thailand
           9.4.7 Vietnam
           9.4.8 Rest of Asia-Pacific
    9.5 Middle East & Africa
           9.5.1 Saudi Arabia
           9.5.2 UAE
           9.5.3 Rest of Middle East & Africa
    9.6 South America
           9.6.1 Brazil
           9.6.2 Argentina
           9.6.3 Rest of South America

10 Competitive Landscape (Page No. - 104)
     10.1 Overview
     10.2 New Product Launches: the Most Popular Growth Strategy Between 2013 and 2016
     10.3 Market Share Analysis
             10.3.1 Nordson Corporation
             10.3.2 IHI Corporation
             10.3.3 OC Oerlikon Corp. AG
             10.3.4 Graco Inc.
             10.3.5 Anest Iwata Corporation
     10.4 New Product Launches
     10.5 Expansions
     10.6 Agreements & Partnerships
     10.7 Mergers & Acquisitions

11 Company Profiles (Page No. - 113)
(Overview, Products and Services, Financials, Strategy & Development)*
     11.1 Nordson Corporation
     11.2 IHI Ionbond AG
     11.3 IHI Hauzer Techno Coating B.V.
     11.4 Sulzer Ltd.
     11.5 OC Oerlikon Corporation AG
     11.6 Sata GmbH & Co. Kg
     11.7 Graco Inc.
     11.8 Anest Iwata
     11.9 Asahi Sunac Corporation
     11.10 Wagner GmbH

*Details on Overview, Products and Services, Financials, Strategy & Development Might Not Be Captured in Case of Unlisted Companies

12 Appendix (Page No. - 135)
     12.1 Insights From Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real Time Market Intelligence
     12.5 Available Customizations
     12.6 Related Reports
     12.7 Author Details


List of Tables (83 Tables)

Table 1 Market Segmentation, By Type
Table 2 Market Segmentation, By End-Use Industry
Table 3 Contribution of the Manufacturing Industry to GDP, By Country, 2015–2021 (USD Billion )
Table 4 Passenger Cars Sales Growth, By Country, 2011–2015
Table 5 Market of New Airplanes, By Region, 2014
Table 6 Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 7 Liquid Coating Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 8 Powder Coating Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 9 Specialty Coating Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 10 Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 11 Coating Equipment Market Size in Automotive & Transportation, By Region, 2014–2021 (USD Million)
Table 12 Coating Equipment Market Size in Aerospace, By Region, 2014–2021 (USD Million)
Table 13 Coating Equipment Market Size in Industrial Segment, By Region, 2014–2021 (USD Million)
Table 14 Coating Equipment Market Size in Building & Construction Segment, By Region, 2014–2021 (USD Million)
Table 15 Coating Equipment Market Size in Other End-Use Industries, By Region, 2014–2021 (USD Million)
Table 16 Coating Equipment Market Size, By Region, 2014–2021 (USD Million)
Table 17 North America: Coating Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 18 North America: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 19 North America: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 20 U.S.: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 21 U.S.: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 22 Canada: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 23 Canada: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 24 Mexico: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 25 Mexico: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 26 Europe: Coating Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 27 Europe: Coating Equipment Market Size, By Type, 2014–2021,(USD Million)
Table 28 Europe: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 29 Germany: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 30 Germany: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 31 France: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 32 France: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 33 Netherlands: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 34 Netherlands: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 35 Russia: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 36 Russia: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 37 U.K.: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 38 U.K.: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 39 Turkey: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 40 Turkey: Coating Equipment Market Size, By End-Use Industry, 2014–2021, (USD Million)
Table 41 Rest of Europe: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 42 Rest of Europe: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 43 Asia-Pacific: Coating Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 44 Asia-Pacific: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 45 Asia-Pacific: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 46 China: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 47 China: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 48 India: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 49 India: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 50 Japan: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 51 Japan: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 52 South Korea: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 53 South Korea: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 54 Indonesia: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 55 Indonesia: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 56 Thailand: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 57 Thailand: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 58 Vietnam: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 59 Vietnam: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 60 Rest of Asia-Pacific: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 61 Rest of Asia-Pacific: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 62 Middle East & Africa: Coating Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 63 Middle East & Africa: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 64 Middle East & Africa: Coating Equipment Market Size, By End-Use Industry,2014–2021 (USD Million)
Table 65 Saudi Arabia: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 66 Saudi Arabia: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 67 UAE: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 68 UAE: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 69 Rest of Middle East & Africa: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 70 Rest of Middle East & Africa: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 71 South America: Coating Equipment Market Size, By Country, 2014–2021 (USD Million)
Table 72 South America: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 73 South America: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 74 Brazil: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 75 Brazil: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 76 Argentina: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 77 Argentina: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 78 Rest of South America: Coating Equipment Market Size, By Type, 2014–2021 (USD Million)
Table 79 Rest of South America: Coating Equipment Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 80 New Product Launches, 2013–2016
Table 81 Expansions, 2013–2016
Table 82 Agreements & Partnerships, 2013–2016
Table 83 Mergers & Acquisitions, 2013–2016


List of Figures (47 Figures)

Figure 1 Market Segmentation: Coating Equipment Market
Figure 2 Coating Equipment Market: Research Design
Figure 3 Breakdown of Primary Interviews
Figure 4 Market Size Estimation: Bottom-Up Approach
Figure 5 Market Size Estimation: Top-Down Approach
Figure 6 Data Triangulation: Coating Equipment Market
Figure 7 Specialty Coating Equipment is Projected to Dominate the Market Till 2021
Figure 8 Industrial to Lead the Coating Equipment Market Between 2016 and 2021
Figure 9 Asia-Pacific to Be the Fastest-Growing Market During the Forecast Period
Figure 10 Coating Equipment Market Growth During Forecast Period
Figure 11 Specialty Segment Accounted for Largest Share in Asia-Pacific, in 2015
Figure 12 Industrial Segment Accounted for Largest Share in Asia-Pacific in 2015
Figure 13 India Projected to Be Fastest-Growing Coating Equipment Market During Forecast Period
Figure 14 Asia-Pacific Expected to Be Largest Market Between 2016 and 2021
Figure 15 Coating Equipment Market Segmentation, By Region
Figure 16 Coating Equipment Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Value Chain Analysis: Coating Equipment Market
Figure 18 Porter’s Five Forces Analysis
Figure 19 Contribution of Manufacturing Industry to GDP, 2015 (USD Billion)
Figure 20 Market of New Airplanes, By Region, 2014
Figure 21 Specialty Coating Equipment Accounted for the Largest Share of the Global Coating Equipment Market in 2015
Figure 22 Specialty Coating Equipment to Lead the Coating Equipment Market, in Terms of Value During the Forecast Period
Figure 23 Asia-Pacific to Lead the Liquid Coating Equipment Market, 2016–2021
Figure 24 Asia-Pacific to Lead the Powder Coating Equipment Market, 2016-2021
Figure 25 Asia-Pacific to Lead the Specialty Coating Equipment Market, 2016–2021
Figure 26 Industrial Segment Accounted for the Largest Share of the Coating Equipment Market, 2015 (USD Million)
Figure 27 Asia-Pacific to Account for the Largest Market Size in the Automotive & Transportation End-Use Industry
Figure 28 Asia-Pacific to Account for the Largest Share in the Aerospace Segment During the Forecast Period
Figure 29 Asia-Pacific to Account for the Largest Share in the Industrial End-Use Segment During the Forecast Period
Figure 30 Asia-Pacific to Be the Fastest-Growing Building & Construction End-Use Market of Coating Equipment During the Forecast Period
Figure 31 Regional Snapshot: Rapidly Growing Markets are Emerging as New Hotspots
Figure 32 North America Market Snapshot: U.S. to Lead the Coating Equipment Market
Figure 33 U.S. Market Snapshot, 2016 vs 2021
Figure 34 Europe Market Snapshot: Germany, France, and Russia Leading the Market
Figure 35 Asia-Pacific Market Snapshot: Growth in the Coating Industry to Drive the Market
Figure 36 Companies Adopted New Product Launches as the Key Growth Strategy Between 2013 and 2016
Figure 37 Key Companies Adopted New Product Launches as the Key Growth Strategy Between 2013 and 2016
Figure 38 New Product Launches and Expansions Were the Major Growth Strategies Adopted By Market Players, 2013–2016
Figure 39 IHI Corporation Accounted for the Largest Market Share
Figure 40 Nordson Corporation: Company Snapshot
Figure 41 Nordson Corporation: SWOT Analysis
Figure 42 Sulzer Ltd.: Company Snapshot
Figure 43 OC Oerlikon Corporation AG: Company Snapshot
Figure 44 OC Oerlikon Corporation AG: SWOT Analysis
Figure 45 Sata GmbH & Co. Kg: SWOT Analysis
Figure 46 Graco Inc.: Company Snapshot
Figure 47 Anest Iwata: Company Snapshot

The coating equipment market was valued at USD 13.79 Billion in 2015 and is projected to reach USD 19.33 Billion by 2021, at a CAGR of 5.8% from 2016 to 2021. Coating equipment serves various end-use industries, such as automotive & transportation, aerospace, industrial, and building & infrastructure. The coating equipment market has been segmented on the basis of type into liquid coating equipment, powder coating equipment, and specialty coating equipment. Among types, the specialty coating equipment is the largest segment of coating equipment market, in terms of value. Specialty coating equipment is majorly used in industrial applications. Rapid industrialization taking place in emerging countries, high demand for industrial coatings from varied end-use industries, and increasing awareness about benefits offered by protective coatings in various industries are the factors expected to lead towards the growth of the specialty coating equipment segment of the coating equipment market during the forecast period. Specialty coating equipment includes Physical Vapor Deposition (PVD), Chemical Vapor Deposition (CVD), and thermal spray guns.

Major end-use industries of coating equipment are automotive, industrial, and aerospace. In 2015, the industrial segment accounted for the largest share of the coating equipment market, owing to increased use of industrial coatings in heavy machinery as well as chemical and manufacturing industries. The specialty coatings applied by specialty coating equipment are long-lasting, uniform, and offer required finish. Increasing demand for industrial coatings from different end-use industries is expected to drive the growth of the industrial segment of the coating equipment market during the forecast period.

Powder coating equipment is generally used to coat metal surfaces. Equipment used to apply powder coating is dependent on the shape of the object, size of the object, and other parameters. The commonly used process for applying powder coating to metal surfaces is spraying powder coating by corona or tribo guns. The coated object is then cured in oven so as to form a uniform film of coatings. Various industries have started using powder coatings as they are free from volatile organic components. Moreover, increasing concerns about environment conservation and use of environment-friendly products are expected to fuel the demand for the powder coatings, thereby leading towards the growth of the powder coating equipment segment of the coating equipment market.

Coating Equipment Market

Increase in the number of varied end-use industries across the globe has resulted in growing demand for coating equipment. In 2015, the Asia-Pacific region accounted for the largest share of the coating equipment market. The Asia-Pacific coating equipment market is projected grow at the highest CAGR during the forecast period. China is projected to lead Asia-Pacific coating equipment market during the forecast period, while the India coating equipment market is projected to grow at the highest CAGR between 2016 and 2021.

Challenges, such as changes in the consumer preferences and development of inexpensive equipment for application of multiple coatings directly affect the growth of the coating equipment market. Moreover, fluctuations in currency also impact the buying capability of end users and industries, which eventually affect the coating equipment market. High costs of coating equipment also restrain the growth of the coating equipment market.

Companies operating in the coating equipment market have adopted various strategies, such as new product launches/development, expansions, and agreements to increase their market shares and expand their distribution networks. They engage in intensive research & development activities to innovate and develop new products that can open new avenues of application of coatings. For instance, in November 2015, Nordson Corporation launched Encore HD Mobile Spray System (powder coating), which features fourth generation dense phase spray technology developed by the company. This system enables optimum utilization of powder materials and provides increased speed of operation.

In February 2014, Graco Inc. launched electric and gas airless sprayers. This product makes spraying easy, fast, and highly productive.

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