From GlobeNewswire: 2024-11-11 09:30:00

The Coating Equipment Market was valued at USD 18.5 billion in 2023 and is projected to reach USD 30.4 billion by 2032, growing at a CAGR of 5.7%. The market is expanding due to increased demand in automotive, construction, and aerospace industries, driven by technological advancements and stricter environmental regulations. Companies like Nordson and Durr offer innovative coating systems to meet the demand for durable and eco-friendly coatings.

In 2023, the automotive sector dominated the Coating Equipment Market, accounting for approximately 35% of the market share. Advanced coating systems, such as electrostatic spray systems, are vital for achieving high-quality finishes efficiently in mass production. Coatings also play a crucial role in protecting vehicles from corrosion and wear, driving the sector’s growth.

Continuous innovations in coating technologies, like nanocoatings and smart coatings, are fueling the demand for advanced coating equipment. The shift towards environmentally friendly coatings, such as waterborne and powder coatings, is also driving market growth. Coating equipment is increasingly used in healthcare applications, presenting new opportunities for manufacturers.

The Asia-Pacific region led the Coating Equipment Market in 2023 with a 40% share, driven by rapid industrialization and growth in manufacturing sectors. China, India, Japan, and South Korea are key contributors to the region’s dominance, with demand stemming from automotive and electronics industries. The market is expected to see significant growth driven by technological innovations and increasing demand for sustainable coatings.

Recent developments in the market include Austria-based Miba AG’s investment in a new manufacturing facility and Sames Kremlin’s launch of a new electrostatic spray gun for automotive and wood coating applications. The Coating Equipment Market is set to experience robust growth, driven by technological advancements, rising demand for sustainable coatings, and increased adoption in healthcare and industrial sectors. Regions like Europe are leading in demand as industries focus on enhancing product quality and environmental impact.



Read more at GlobeNewswire: Coating Equipment Market to Reach USD 30.4 Billion by 2032