30th November,
2018- 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.
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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.
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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