Coating Equipment Market Set To Flourish at 9.2% CAGR, Reaching $36 Billion by 2029
28 Jan, 2025
How Did The Coating Equipment Market Perform Historically And What’s The Current Market Status?
The coating equipment market demonstrated significant growth in the past few years.
• In 2024, the market was valued at $23.51 billion, increasing to $25.32 billion in 2025 with a robust CAGR of 7.7%.
Factors such as the growth in the construction industry, increased demand for paints and coatings, industrial manufacturing, regulatory compliance and environmental considerations have all significantly contributed towards this upward trend.
What Is The Future Market Size And Growth Expectation For The Coating Equipment Segment?
The coating equipment market is anticipated to experience further strong growth in the coming years.
• By 2029, the market size is expected to reach $36 billion with an impressive CAGR of 9.2%.
Driving this growth are factors such as increased semiconductor industry activity, infrastructure development, the expanding automotive industry, rapid urbanization, and emerging market growth.
Integral trends like Industry 4.0 integration, high-performance coatings, powder coating technology, adaptive coating technologies, and the introduction of customizable coating solutions are expected to play a crucial role.
What Are The Key Drivers Propelling The Growth Of The Coating Equipment Market?
The growth in demand for electric vehicles is set to significantly drive the coating equipment market expansion. Electric vehicles require coatings to prevent their substrates and components from erosion or other types of damage. For instance, sales of electric vehicles surpassed 10 million in 2022, according to The International Energy Agency. This figure is expected to reach 14 million by the close of 2023. This surge in electric vehicle demand will propel the coating equipment market into further growth.
How Is The Coating Equipment Market Segmented?
The Coating Equipment market is segmented as follows -
1) By Coating Type: Powder Coating Equipment, Liquid Coating Equipment, Specialty Coating Equipment
2) By Material Type: Polyester, Polyurethane, Acrylic, PVC, Epoxy, Silicon
3) By Application: Brushed, Dipped Or Sprayed, Diffusion, Laser Processing, Plating, Thermal Spray, Vapor Deposition
4) By End Use Industry: Automotive, Medical, Aerospace, Industrial, Building And Construction, Marine, Electricals And Electronics, Other End Users
What Are The Emerging Trends In The Coating Equipment Market?
Market bellwethers are focusing on technological advancements such as tablet coaters to improve efficiency, reduce environmental impact and enhance coating quality. For instance, ACG Engineering unveiled the SMARTCOATER X ONE series in November 2023. This innovative tablet coater expedites tablet coating and optimizes the process for speed, efficiency, and ease of operation, all while complying with cGMP standards.
Who Are The Major Players Driving The Coating Equipment Market?
Key players in the coating equipment market include:
• IHI Corporation
• AJA INTERNATIONAL
• ANEST IWATA Corporation
• ASAHI SUNAC CORPORATION
• Axalta Coating Systems
• Blösch AG
• Bühler AG
• Carlisle Companies
• CVD Equipment Corporation
• Exel Industries
• Gema USA Inc.
• Graco Inc.
• KOLZER SRL
• PVD Products Inc.
• ULVAC Inc.
• Carlisle Fluid Technologies
• Ecco Sko A/S
What Are The Key Regional Insights For The Coating Equipment Market?
Asia-Pacific was the largest region in the coating equipment market in 2024, followed by North America. The regions encompassed in this market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.