Electrocoat market share forecast to witness considerable growth from 2019-2025

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Electrocoat market share research by applications
and regions for 2019-2025 Global Market
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Overview of electrocoat market

• North America will capture significant market
  share in electrocoat market by 2025 owing to
  thriving automotive industry. Despite slight
  decline in global automotive production for the
  year 2018, U.S. showed growth of 1.1 over the
  production of 2017 according to Organisation
  Internationale des Constructeurs d'Automobiles
  (OICA). Asia Pacific exhibits huge potential for
  electrocoat market due to rising demand from
  various end-user industries such as Automotive,
  agriculture, construction, etc. Future
  infrastructure development projects in China,
  India and Southeast Asian countries will catapult
  the product demand. Europe will grow at steady
  rate within the forecast time period owing to
  favorable trends associated with household
  appliances industry. According to APPLiA,
  household appliances industry turnover is
  increased by more than USD 2.5 billion between
  2017 to 2018. Such trends will positively
  influence the growth of the market.
• Electrocoat Market size will witness favorable
  growth trends in the coming years as it is an
  organic finishing method which is used to deposit
  paint with the help of electric current. The
  process is based on the principle of the
  material with opposite charges attract. In this
  method, metal part to be deposited is immersed in
  a bath of oppositely charged paint particles. DC
  charge is applied to this metal part which leads
  to the attraction of paint particles to the metal
  part. Finally, paint is deposited on the metal
  part by formation of even and uniform film of
  required thickness.

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• Electrocoat market will be driven by increasing
  applications in automotive industry in future.
  Electrocoat is used on seat tracks, wheels, truck
  chassis, space frames, cross members and many
  other components. One of the main reasons it is
  used in automotive industry is due to its ability
  to provide corrosion resistance. Additionally, it
  is cost effective and provides superior finishing
  to automobile parts components. The worldwide
  demand of automobiles is rising due to increasing
  population, rising spending tendency of people
  and changing consumer preferences. Moreover,
  technological progressions coupled with huge
  investments to manufacture automobiles with
  improved safety, longevity and efficiency will
  create positive outlook for automobile sector in
  upcoming years. This in turn will spur the
  electrocoat market growth during the forecast
  timespan.
• Electrocoat is widely used in household
  appliances such as microwave ovens, range hoods,
  laundry machines, air conditioners, water
  coolers, refrigerators, etc. It offers excellent
  color and gloss retention along with ability to
  replace two-coat operations with one-coat
  process. Urbanization and increasing disposable
  income levels are fueling the household appliance
  sector growth. Many companies are developing new
  products with the help of research and
  development activities which are superior and
  efficient over their predecessors. These product
  innovation and development initiatives are
  supported by favorable government policies. This
  will create ample opportunities for the
  electrocoat market in future.

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• The electrocoat market will witness promising
  trends in future owing to largescale applications
  in heavy duty equipments in agricultural
  construction industry. Growing global population
  will generate more demand for food grains thereby
  farmers will be compelled to produce more yield
  with efficient use of agricultural equipments.
  Additionally, recent technological progressions
  and government incentives will generate favorable
  growth trends for agricultural equipments sector.
  Such trends will bolster the product demand in
  future.
• Rising residential and commercial building
  construction activities all over the world will
  generate the need for construction equipments.
  Surge in infrastructure investment by various
  countries to build world-class infrastructure
  will propel the construction equipments sector.
  Hence, the aforementioned trends will augment the
  growth of the market between 2019 to 2025.

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• Electrocoat market is divided on the basis of
  type, technology and end-user industry. Based on
  type, the market is segmented into anodic and
  cathodic. Based on technology, the market is
  categorized into cathodic epoxy, cathodic
  acrylic, anodic epoxy and anodic acrylic. Based
  on end-user, the market is classified into
  automotive, household appliances, heavy duty
  equipment, military defense and others.
• Some of the key players in the electrocoat market
  are PPG Industries, Inc., Hartford Finishing,
  Inc., Clearclad Coatings LLC, Barron Metal
  Finishing, Coatec India, Valmont Coatings, Axalta
  Coating Systems Ltd. and others.

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Methodology

• Market
  research reports Key analytical components

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