by Cathodic electrodeposition coating, also known as cathodic electrocoat (E-Coat), is an important protective and decorative process widely used in the automotive industry. E-coat provides excellent corrosion resistance, adhesion and flexibility. They can be easily applied on complex geometries and help in achieving uniform thickness on intricate surfaces.
The global cathodic electrodeposition coating market is estimated to be valued at US$ 3365.77 Mn in 2023 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:
E-coat has become imperative for automakers to provide corrosion protection and enhance the lifespan of vehicles. Strict environmental norms regarding vehicle emissions are also propelling the demand. Compared to other coatings, E-coat provides superior corrosion resistance without the use of heavy metals like lead and hexavalent chromium. It also aids in achieving advanced aesthetics while meeting regulatory compliance. The trend of light-weighting vehicles to improve fuel efficiency without compromising on quality further works in favor of cathodic electrodeposition coating technology.
Segment Analysis
The global Cathodic Electrodeposition Coating market is dominated by the automotive segment. With growing automotive production worldwide, the demand for Cathodic Electrodeposition Coating from the automotive industry is also increasing. Cathodic Electrodeposition Coating offers excellent adhesion, durability, and corrosion resistance properties which make it ideal for coating automotive components like wheels, bumpers, trims etc. to protect them from harsh weather and road conditions. The automotive industry accounts for over 60% of the total Cathodic Electrodeposition Coating market share owing to increased usage of Cathodic Electrodeposition Coating in automotive manufacturing.
Key Takeaways
The Global Cathodic Electrodeposition Coating Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. The market is projected to grow at a CAGR of 5.2% during this period and reach a size of US$ 3365.77 Mn by 2031.
Regional analysis – Asia Pacific region currently dominates the global Cathodic Electrodeposition Coating market with over 40% share. Growing automotive and construction industries in China and India are driving the demand for Cathodic Electrodeposition Coating in Asia Pacific. North America and Europe are other major markets owing to presence of key automotive manufacturers.
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 dominant player with largest market share of over 25% in 2021 backed by extensive geographical presence and wide product portfolio.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
