Cathodic electrodeposition coating, also known as cathodic electrocoating, is a process by which electrically charged paint particles are deposited on grounded substrates. It involves dipping of metal parts into a liquid coating which is deposited evenly using an electrical charge. The process results in uniform coating thickness and superior corrosion resistance. Cathodic electrodeposition coating finds widespread use in automotive industry for coating of automotive parts and components. The automotive industry is increasingly adopting these coatings due to their excellent mechanical and chemical properties. They prevent corrosion and reduce chance of rust.
The global Cathodic Electrodeposition Coating Market is estimated to be valued at US$ 3365.77 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the cathodic electrodeposition coating market is growing popularity of waterborne coatings. Waterborne coatings offer various advantages over solvent-borne coatings such as low VOC emissions and compliance with stringent environmental regulations. Also, waterborne coatings enable energy savings during curing and drying process. This is acting as a major driver for increasing adoption of waterborne coatings. Another trend is increasing R&D investments by market players to develop newer and advanced coatings. Companies are focusing on expanding their product portfolio with innovative and sustainable coating solutions. For instance, launch of nano-particle incorporated coatings with enhanced scratch and corrosion resistance.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as the cathodic electrodeposition coating market requires high R&D investment and has established manufacturers.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are many established manufacturers in this market.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of raw material suppliers.
Threat of new substitutes: The threat of new substitutes is low as cathodic electrodeposition coatings have better resistance to corrosion.
Competitive rivalry: Competition is high between established manufacturers.
Key Takeaways
The Global Cathodic Electrodeposition Coating Market Demand is expected to witness high growth. The global Cathodic Electrodeposition Coating Market is estimated to be valued at US$ 3365.77 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.
Regional analysis: Asia Pacific region dominates the global cathodic electrodeposition coating market and is expected to witness the fastest growth during the forecast period. Countries like China, India and Japan are major consumers of cathodic electrodeposition coating due to growth in end use industries in these countries.
Key players: Key players operating in the cathodic electrodeposition coating market are Henkel AG & Co. KGaA, H B Fuller, Sika AG, Arkema Group, Ashland Inc., The 3M Company, Jowat AG, Sipol SpA, Palmetto Adhesives Company, and Sealock Ltd. Henkel AG & Co. KGaA is the global leader in cathodic electrodeposition coating and captures around 20% of the global market share.
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