15th October 2018 – The global consumer appliance coatings market witnessed a higher CAGR growth during the assessed period. Consumer appliance coatings is becoming an essential constituent due to their corrosion and temperature resistant properties. The consumer appliance coatings industry is gaining a lot of traction due to rise in awareness on eco-friendly products coupled with rise in consumer appliance industry.
Growth factors responsible for consumer appliance coatings market includes rise in consumer appliance and rising demand for solvent-free coatings. Other factors such as rising demand from emerging economies of APAC regions is likely to add to the market growth in the near future. Also, technological progress in coil coatings drives the market demand for consumer appliance coatings. For instance, silver metallic coatings and faux silver stainless steel finishes gains popularity owing to a high demand for pre-painted metals and stainless steels.
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Segmentation for consumer appliance coatings market based on type includes epoxy PE hybrid coating and epoxy coating. PE hybrid coating dominates the market growth in the near future and also dominates in the current period. Segmentation based on application for the market includes refrigeration, large cooking appliance and home laundry. Large cooking appliance and home laundry dominates the market growth in the current period due to rise in demand for renovation of appliances.
Consumer appliance coatings market is geographically segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. APAC market growth is stimulated by factors such as rising demand for new technologies thus lessening the noise and vibration in home appliances. North America and Europe market is also expected to gain a significant CAGR growth in the near future. MEA market is also expected to gain a significant CAGR growth in the forthcoming period owing to rise in inclination towards appliance coatings and related services.
The key players in the consumer appliance coatings market include Akzonobel, Axalta, Tiger, PPG, Jotun, Sherwin-Williams, Valspar, Meijia, Nippon Paint, Huaguang, Kinte and Huacai.
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