It is predicted that the coating equipment market will reach US$30.4 billion by 2032

Market status

The coating equipment market size will be US$18.4113 billion in 2023 and will reach US$19.1109 billion in 2024.

From a regional perspective, Asia Pacific dominated the coating equipment market in 2021, accounting for 45.3%, which is mainly attributed to factors such as the growing construction industry, industrial development, population growth, and increasing demand for automobiles in the region .

Growth drivers

Growth in demand in various industries: The development of automobile, aerospace, construction and other industries has continued to increase the demand for coating equipment. 

For example, the automotive industry requires coatings to prevent vehicle body rust and corrosion while improving appearance quality, and as the electric vehicle market expands, its demand for coating equipment is also increasing because coatings are essential for protecting the base materials of electric vehicles. It plays an important role in protecting its components from rust and other damage, and also gives electric vehicles their aesthetic properties.

Promoted by technological progress: The application of advanced technologies such as nanotechnology, the Internet of Things, and artificial intelligence in the coating field has prompted the continuous updating and upgrading of coating equipment, which not only improves production efficiency, but also reduces material waste, making the coating process more reliable and environmentally friendly. , promoting the development of the market.

Increased environmental awareness: As environmental regulations become increasingly stringent, the market demand for environmentally friendly coating equipment continues to increase. Traditional solvent-based coatings contain volatile organic compounds (VOCs), which can cause harm to the environment and human health. However, environmentally friendly coatings such as powder coatings and water-based coatings are becoming more and more widely used, and corresponding environmentally friendly coating equipment has also been developed. More attention and demand.

The rise of emerging markets: The rapid development of some emerging economies, the continuous advancement of infrastructure construction, the continuous expansion of industrial production scale, and the continuous growth of demand for various coating equipment, providing a broad development space for the coating equipment market.

face challenges

High cost problem: Advanced coating equipment is usually expensive, with high initial investment and maintenance costs. This is a large burden for some small and medium-sized enterprises, restricting their purchase and use of advanced equipment, and thus in certain situations. To some extent, it hinders the expansion of the market.

Fluctuation in raw material prices: Fluctuations in prices of main raw materials for coating materials such as petroleum extracts will directly affect the coating equipment market. Rising raw material prices will lead to an increase in production costs, which will in turn affect the sales price and market demand of coating equipment.

Shortage of professional and technical talents: The operation and maintenance of new coating equipment requires technicians with professional skills. However, there is a relative lack of such professional talents in the market, which also brings certain challenges to the development of the coating equipment market.