Global Plastic Coatings Market Size, Analysis - Segmented by Resin Type, Process, End-User, and Geography - Growth, Trends, and Forecast (2022 - 2030)
Plastic Coatings Market
The plastic coatings market is estimated to grow at a moderate to high rate during the forecast period, 2018-2023. Asia-Pacific is expected to witness highest growth in the demand for plastic coatings during the forecast period, owing to the rising demand from automotive and construction industry.
Rising Demand from Automotive Industry
Automotive is one of the major sectors, where demand for plastic coatings has been on the rise. The automotive manufacturers have bushed every available occasion to bring in new consumers. The most common strategy followed by these automakers aligned towards raising duration bar for auto-loan and prolonging credit to riskier buyers, which resulted in an upsurge in auto loan delinquency rates. Due to their customizable properties, polyurethane coatings are the most preferred plastic coating for both automotive interior and exterior. Most popular PU coating application in automotive industry is synthetic leather, which is used on seat covers and other purposes. Consumers buying luxury cars always prefer the sleek look and comfortable feel of leather trim, but this preference comes at a higher cost; which boosted the change in the leather industry and the manufacturers are cheering their customers with whole lot more affordable options with the desired finish.
Building & Construction Industry in China is likely to propel the Market
Plastic coatings have their significant application in construction sector. These coatings are used to protect the structure from corrosion, water damages and other environmental impacts. Growing investment in infrastructure and construction industry in China is creating huge potential for paints & coatings market in the near future, this in turn, is anticipated to drive the protective coatings market in the country. This opens a huge opportunity for the plastic coatings manufacturers in developing regions, as rising infrastructural investments are likely to boost the demand for plastic coatings at a significant rate. In addition, the competitive pricing scenario in the market forces the industries to get maximum efficiency in operations. Free flowing operations coupled with low maintenance cost and longer durability help the industries to maximize the operational efficiency and profit margins.
Asia-Pacific to Witness Strong Growth in Plastic Coatings Market
The global focus of plastic coatings is currently on Asia-Pacific as well as the Middle East countries. China, India, Thailand, and Vietnam are some of the key markets for these products due to their large population base and low per capita consumption of plastic coatings compared to developed countries, such as Germany or the United States. China is the largest consumer of plastic coatings as it is the one of the leading construction and automobiles market globally. India and China alone manufacture approximately 50% of the world’s cars and, in turn, consume approximately 50% of the plastic coatings used for automobiles globally.
Key Developments in the Plastic Coatings Market
December 2017: BASF’s Coatings division installed a new automotive coatings plant at its Bangpoo manufacturing site, Samutprakarn province, Thailand. The new plant is the first BASF automotive coatings manufacturing facility in ASEAN, and will produce solvent-borne and waterborne automotive coatings to meet growing market demand in the region.
Plastic Coatings Market Major Players
3M
AkzoNobel N.V.
Axalta Coating Systems
BASF SE.
Bayer AG
Covestro AG
Diamond Vogel
Eastman Chemical Company
Kansai Paints Co,. Ltd.
NIPPON PAINT
PPG Industries Inc.
Valspar Corporation
Wacker Chemie AG
Reasons to Purchase Plastic Coatings Market Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Which end-user type is expected to dominate the plastic coatings market
Which region is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet in excel
Customize Plastic Coatings Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you to get a report that suits your needs.
The plastic coatings market is estimated to grow at a moderate to high rate during the forecast period, 2018-2023. Asia-Pacific is expected to witness highest growth in the demand for plastic coatings during the forecast period, owing to the rising demand from automotive and construction industry.
Rising Demand from Automotive Industry
Automotive is one of the major sectors, where demand for plastic coatings has been on the rise. The automotive manufacturers have bushed every available occasion to bring in new consumers. The most common strategy followed by these automakers aligned towards raising duration bar for auto-loan and prolonging credit to riskier buyers, which resulted in an upsurge in auto loan delinquency rates. Due to their customizable properties, polyurethane coatings are the most preferred plastic coating for both automotive interior and exterior. Most popular PU coating application in automotive industry is synthetic leather, which is used on seat covers and other purposes. Consumers buying luxury cars always prefer the sleek look and comfortable feel of leather trim, but this preference comes at a higher cost; which boosted the change in the leather industry and the manufacturers are cheering their customers with whole lot more affordable options with the desired finish.
Building & Construction Industry in China is likely to propel the Market
Plastic coatings have their significant application in construction sector. These coatings are used to protect the structure from corrosion, water damages and other environmental impacts. Growing investment in infrastructure and construction industry in China is creating huge potential for paints & coatings market in the near future, this in turn, is anticipated to drive the protective coatings market in the country. This opens a huge opportunity for the plastic coatings manufacturers in developing regions, as rising infrastructural investments are likely to boost the demand for plastic coatings at a significant rate. In addition, the competitive pricing scenario in the market forces the industries to get maximum efficiency in operations. Free flowing operations coupled with low maintenance cost and longer durability help the industries to maximize the operational efficiency and profit margins.
Asia-Pacific to Witness Strong Growth in Plastic Coatings Market
The global focus of plastic coatings is currently on Asia-Pacific as well as the Middle East countries. China, India, Thailand, and Vietnam are some of the key markets for these products due to their large population base and low per capita consumption of plastic coatings compared to developed countries, such as Germany or the United States. China is the largest consumer of plastic coatings as it is the one of the leading construction and automobiles market globally. India and China alone manufacture approximately 50% of the world’s cars and, in turn, consume approximately 50% of the plastic coatings used for automobiles globally.
Key Developments in the Plastic Coatings Market
December 2017: BASF’s Coatings division installed a new automotive coatings plant at its Bangpoo manufacturing site, Samutprakarn province, Thailand. The new plant is the first BASF automotive coatings manufacturing facility in ASEAN, and will produce solvent-borne and waterborne automotive coatings to meet growing market demand in the region.
Plastic Coatings Market Major Players
3M
AkzoNobel N.V.
Axalta Coating Systems
BASF SE.
Bayer AG
Covestro AG
Diamond Vogel
Eastman Chemical Company
Kansai Paints Co,. Ltd.
NIPPON PAINT
PPG Industries Inc.
Valspar Corporation
Wacker Chemie AG
Reasons to Purchase Plastic Coatings Market Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Which end-user type is expected to dominate the plastic coatings market
Which region is expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players
3 months analyst support along with the Market Estimate sheet in excel
Customize Plastic Coatings Market Report
This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you to get a report that suits your needs.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
Please Select a Format
