E-Coat Market Overview
The Global E-Coat Market is estimated to reach at a Significnat CAGR during the forecast period (2024-2031). E-coat is a type of paint that uses electrical current to get deposited on a surface, and the method is called electrocoating and simply E-coating. In E-coating, the substrate is immersed into a liquid medium, generally a black epoxy paint solution. During the process, paint is applied to a certain film thickness, which is regulated by the amount of voltage applied. The deposition is self-limiting and thus slows down as the coating electrically insulates the part.
E-coating provides a uniform coating that offers strong adhesion and excellent protection against corrosion. The combination of effectiveness and low cost makes e-coating a preferred painting or coating process in various industries, particularly automobile manufacturing operations in commercial vehicles and automotive parts and accessories.
Market Scope
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Type, By Technology, By Application, By End-User and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Market | Asia Pacific |
| Largest Market Share | North America |
To Get a Free Sample Click here
Market Dynamics
Rising demand of E-Coat in automotive industry is driving the market
The automotive industry relies on the e-coating process because of the strong, durable and reliable e-coat corrosion resistance it provides.
The e-coat protects the surface, cavities and edges of a car body from corrosion. In combination with the pre-treatment process, it offers an excellent base for applying subsequent paint layers. Vehicles need safe mechanisms to run efficiently without posing a hazard and jeopardizing anyone’s safety.
Recent product advancements and product launches are also driving the e-coat market in the automotive industry. For instance, in December 2020, Axalta, a US-based company, launched a new environmentally responsible, cathodic tin-free E-Coat primer. It is a next-generation, tin-free electrocoat Axalta technology and has been specifically formulated to meet the evolving needs of customers in the automotive parts and accessories
High capital cost of investment is expected to hinder the E-Coat market
An e-coat system with the appropriate equipment such as the treatment system for process fluids represents a significant capital and staffing investment. Moreover, the construction and maintenance of an E-Coat line are very expensive. The paint has to be constantly agitated with being suspended in the bath. If power is lost, a pump fails, and the paint is allowed to settle, resulting in the junk. The replacement of the system's paint material and clean-up can cost 10’s of thousands to complete.
Market Segmentation Analysis
Cathodic E-Coat offers high corrosion and chemical protection and is generally utilized in auto and machine enterprises. These sorts of coatings are by and large liked for the unpredictable product bundles or parts with holes or covered-up partitions that require covering.
Their accessibility in a wide scope of shadings and shine settles them on exterior one-coat final finishes.
Cathodic epoxy is the conventional sort of electrocoating used to give consumption opposition. Cathodic epoxy e-covering is broadly utilized in the car business as it gives protection from stickiness and cyclic consumption. The greater part of the automakers utilizes this e-covering for engine applications and a superb coat.
Besides, cathodic acrylic e-coat is utilized in applications where UV strength and erosion assurance on ferrous substrates (steel) are required. Cathodic acrylic electrocoating materials loan themselves to topcoat applications attributable to their awesome protection from the bright beams from daylight.
It is utilized as a one-coat finish for automotive, agriculture, apparatuses, and HVAC, as just one layer of acrylic cathodic e-coat is sufficient for giving assurance against UV beams and consumption.
Global E-Coat Market Geographical Share
Asia-Pacific region dominates the global market of E-Coat. A portion of the main considerations driving the interest for E-Coating in the Asia-Pacific locale is expanding car manufacturing, developing agriculture equipment, and developing the industrial sector.
China keeps on being the world's automotive market. The exhibition of the car business was influenced by the monetary movements and China's exchange battle with the United States.
Notwithstanding, China is significantly zeroing in on expanding the creation and offer of electric vehicles in the country. To accomplish this, the nation is ready to build electric vehicles to 2 million every year by 2020 and 7 million per year by 2025. The objective, whenever accomplished, will expand the portion of electric vehicles to 20% of the all-out new vehicle creation for China by 2025, which is probably going to build the interest for e-coat in the coming years.
Moreover, India has seen tremendous investment in the auto business, which is also expected to build creativity. For instance, in 2018, Hyundai arranged speculation of USD 1 billion in India by 2020. SAIC Motor has likewise declared its choice to put USD 500 million in India by 2020.
Companies and Competitive Landscape
The E-Coat market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Axalta Coating Systems, LLC, Henkel Corporation, Dynacast Dongguan, E Coat Japan K.K., Fawer Y-Tec, Foshan Nanhai Hua Hao Aluminium Extrusion Co., Ltd., Itsuwa Seisakusyo Co., Ltd., Jost World, Mazda Motor Corporation, Nihon Parkerizing Co., Ltd. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the E-Coat market globally.
Axalta Coating Systems, LLC
Overview: Axalta Coating Systems, Ltd. is an American company specializing in coatings for several industrial applications, materials and sectors. The company is headquartered in Philadelphia, Pennsylvania.
Product Portfolio: Axalta Coating Systems, Ltd. offers E-Coat in two categories: AquaEC Anodic Electrocoats and AquaEC Cathodic Electrocoats
Key Developments:
- In December 2020, Axalta Coating Systems, Ltd. launched a new environmentally responsible, cathodic tin-free E-Coat primer. It is a next-generation, tin-free electrocoat Axalta technology and has been specifically formulated to meet the evolving needs of customers in the automotive parts and accessories
Why Purchase the Report?
- Visualize the composition of the E-Coat market segmentation by type, technology, application, end-user and region highlighting the key commercial assets and players.
- Identify commercial opportunities in E-Coat market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of E-Coat market - level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global E-Coat market report would provide an access to an approx. 69 market data table, 62 figures and 240 pages.
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
