Plastic Coatings Market Overview
The plastic coatings market is expected to witness significant growth in the coming years, driven by the increasing demand from various industries and the development of new coating technologies. The plastic coating is the application of liquid polymers or plastic on the surface of a workpiece by immersion or dipping. It provides a thick plastic finish for protective and decorative purposes, giving the material additional resistance against corrosion, scratches, wear, and external elements.
Plastic Coatings Market Dynamics and Trends
The automotive industry is under pressure to reduce production costs and environmental impact. One way to do this is to use lightweight plastic parts, which can reduce the weight of vehicles and improve fuel consumption. However, plastic components also need to be coated to protect them from the elements and give them a durable finish.
Bayer MaterialScience (BMS), a European company that specializes in polyurethane coatings for a variety of industries, is developing new plastic coatings technologies that can help the automotive industry meet its needs. For example, BMS has recently developed a reverse or dual-cure coating system that provides excellent durability, weather-fastness, and scratch resistance.
The company is also combining reaction injection molding (RIM) with the in-mold coating process to develop a new coating system that lowers investment costs, simplifies logistics, and reduces space requirements. In addition, BMS is commercializing a waterborne two-component (2K) polyurethane coating system for the OEM market.
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However, the plastic coatings market is facing some challenges due to rising raw material costs. For example, the price of epoxy resins has increased by as much as 60% in recent months. This is making it difficult for paint and coatings manufacturers to invest in research and development to improve their technologies.
Plastic Coatings Market Segmentation Analysis
By Material Type
- Polyurethane
- Acrylic
- Epoxy
- Others
By Form
- Liquid
- Powder
By Process
- Spray Coating
- Dip Coating
- Powder Coating
- Electrophoretic Painting
- Others
By End-User
- Building & Construction
- Automotive
- Aerospace & Defense
- Medical
- Others
By Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East and Africa
Major Companies Covered
PPG Industries Inc., Bayer AG, Axalta Coating System, Akzonobel N.V., 3M, Eastman Chemical Company, Bayer MaterialScience, Kansai Paint Co., LTD., BASF SE, Wacker Chemie AG
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