Global Plastic Coatings Market – Industry Trends and Forecast to 2029

Global Plastic Coatings Market, By Plastic Type (PVC, Polyurethane, Polyester, Fluoropolymer, Polyamide, Polyethylene, Other Plastic Types), Process Type (Dip Coating, Spray Coating, Electrophoretic Painting), Form (Liquid, Powder), End-user Industry (Automotive, Building, and Construction, Aerospace and Defense, Electronics, Consumer Appliances, Other End-user Industries) – Industry Trends and Forecast to 2029.

Global Plastic Coatings Market Analysis and Size

Over the last few years, there has been immense growth in the chemical industry. Additionally, there has been strong development in automobile and aerospace industry sector, which have significantly contributed to the plastic coating market, which further increases the overall growth for the market.

• Global Plastic Coatings Market was valued at USD 6.65 billion in 2021 and is expected to reach USD 11.34 billion by 2029, registering a CAGR of 6.9% during the forecast period of 2022-2029. The "PFPE-K" accounts for the largest type segment in the plastic coatings market owing to its increased application in the manufacturing of engines and machines. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Global Plastic Coatings Market Definition

A plastic coating is a layer of liquid polymers or plastic applied to the surface of a workpiece that gives metals a thick, wear-resistant finish that seals out water and air, preventing corrosion. Thermal resistance, abrasion resistance, chemical resistance, UV resistance, lubrication, mechanical property enhancement, surface polish, and aesthetics are some of the other functional uses of plastic coatings. This improves the metal's durability and extends its useful life. It also provides the end-user with convenience and protection by offering gripping and insulating surfaces.

Report Scope and Market Segmentation

Plastic Coatings Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

• High Usage Across End Users

The plastic coatings market is being driven by the growing automotive, aerospace and construction industries. In the automotive and aerospace industries, there has been a considerable increase in demand for lightweight and durable production materials, which is driving up demand for plastic coatings.

The increasing awareness about the advantages of plastic coatings will further propelled the growth rate of plastic coatings market. Additionally, the surge in demand for large-scale construction due to growing industrialization and urbanization in emerging economies such as India and China are projected to bolster the growth of the market.

Opportunities

• Rising Trends and Other Developments

Furthermore, rise in the trend of advancement in coating technologies extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the development of eco-friendly and less waste generating methods such as bio-based coatings and spray coatings coupled with the increasing demand for durable, high-end finished goods such as consumer electronics expand the growth of the plastic coatings market.

Restraints/Challenges Plastic Coatings Market

• Raw Material Prices and Other Disadvantages

The factors such as the volatile raw material prices along with the disadvantages of plastic coating will create hindrances for the growth of the plastic coatings market.

• Stringent Regulations

The stringent environmental rules in developed regions are anticipated to challenge the plastic coatings market growth rate.

This plastic coatings market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the plastic coatings market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Plastic Coatings Market

The worldwide plastic coatings market was negatively impacted by COVID-19. The demand curve curved downwards due to lower demand from major end-user sectors. Also, numerous building and construction works around the world were temporarily halted during the lockdown imposed by government in order to prevent the spread of additional COVID-19 cases. Furthermore, personnel shortages caused by disease and preventative quarantines had a severe impact on the commercial, infrastructure, institutional, and other building sectors, lowering demand for plastic coatings. The automobile and aerospace industries, which are significant demand drivers for plastic coatings, experienced a downturn. As a result, during the acute pandemic, the market share of plastic coatings rapidly declined.

The worldwide supply chain was affected by the limitations on travel and the movement of commodities imposed to stop the virus from spreading. Furthermore, a pause in the manufacturing process had an impact on the market, resulting in incomplete demand fulfilment. However, following a considerable easing of global precautionary restrictions, the market is quickly recovering.

Recent Development

• In November 2021, Stora Enso has developed UltraThinPE Tec, which minimizes the quantity amount of plastic coating in Foodservice Board (FSB) and applications like single-use paper cups, according to the business. According to Stora Enso, the technology allows for paper cup designs that include less than 5% plastic, assisting package converters, brand owners, and retailers in meeting their plastics reduction goals. Stora Enso's Cupforma paper cup product line now uses the process to create UltraThinPE coatings. FSB items with UltraThinPE Tec coatings can be recycled with paper or board, depending on local regulations, collection, and sorting facilities. They can also make it easier to recycle FSB in standard recycling mills as one-sided, minimal-plastic coatings when combined with other paper and board packaging.

Global Plastic Coatings Market Scope

The plastic coatings market is segmented on the basis of plastic type, process type, form and end-user industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Plastic Type

• PVC
• Polyurethane
• Polyester
• Fluoropolymer
• Polyamide
• Polyethylene
• Other Plastic Types

On the basis of plastic type, the plastic coatings market has been segmented into PVC, polyurethane, polyester, fluoropolymer, polyamide, polyethylene and other plastic types.

Process Type

• Dip Coating
• Spray Coating
• Electrophoretic Painting

The plastic coatings market has also been segmented on the basis of process type into dip coating, spray coating and electrophoretic painting.

Form

• Liquid
• Powder

On the basis of form, the plastic coatings market is segmented into liquid and powder.

End-user Industry

• Automotive
• Building and Construction
• Aerospace and Defense
• Electronics
• Consumer Appliances
• Other End-user Industries

On the basis of end-user industry, the plastic coatings market is segmented into automotive, building, and construction, aerospace and defense, electronics, consumer appliances and other end-user industries.

Plastic Coatings Market Regional Analysis/Insights

The plastic coatings market is analysed and market size insights and trends are provided by country, plastic type, process type, form and end-user industry as referenced above.

The countries covered in the plastic coatings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the plastic coatings market because of the greater prevalence of automotive, aerospace and defense, and industrial machinery manufacturing industries, which leads to higher demand for plastic coatings within the region.

 Asia-Pacific on the other hand, is estimated to show lucrative growth as the burgeoning construction and automotive industries in this region are responsible for the region's rapid growth. Moreover, the automobiles and industrial appliances are becoming increasingly manufactured in this region. As a result, market growth will be fueled by the substantial growth of these major end-user industries in this area over the forecast period within the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Plastic Coatings Market Share Analysis

The plastic coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to plastic coatings market.

Some of the major players operating in the plastic coatings market are

• DuPont (U.S.)
• BASF SE (Germany)
• The Sherwin-Williams Company (U.S.)
• PPG Industries, Inc. (U.S.)
• Axalta Coating Systems (U.S.)
• Akzo Nobel N.V. (Netherlands)
• The Valspar Corporation (U.S.)
• Bayer AG (Germany)
• Kansai Paint Co.,Ltd. (Japan)
• Clariant (Switzerland)
• Wacker Chemie AG (Germany)
• 3M (U.S.)
• Eastman Chemical Company (U.S.)
• NIPPON PAINT (Japan)
• Diamond Vogel (U.S.)