Email
Print
Coatings And Application Technologies For Robotics Market - Forecast(2024 - 2030)
Coatings & Application Technologies for Robotics Market Overview
The
coatings &
application technologies for robotics market size
is forecast to reach US$2.7 billion by 2027, after growing at a CAGR of 6.1%
during
COVID-19 Impact
During the COVID-19 pandemic, many
industries had suffered a tumultuous time, and it was no different for the coatings
& application technologies for robotics market. Many governments across the
globe implemented lockdown regulations and factories & production
facilities in many sectors came to a halt. The supply chain was greatly
disrupted as many businesses followed lockdown protocols. This led to a decline
in many of the end-use industries that implement robotics for various purposes
like welding, painting, assembly & disassembly, and so on. For instance,
according to the Organisation Internationale des Constructeurs d’Automobiles
(OICA), the production of passenger vehicles decreased by 16.9% from 2019 to
2020. This resulted in a decline in the demand for robotics in industry
verticals which, in turn, led to a decrease in demand for the coatings &
application technologies for robotics market. However, the world population is
being vaccinated and most governments have lifted lockdown procedures. According
to United Nations Industrial Development Organisation (UNIDO), the global
manufacturing production grew by 3.5% in September 2021 compared to the same
month of 2020. As such, the demand for robotics and coatings & application
technologies for robotics is forecast to grow from 2022 to 2027.
Report Coverage
The report: “Coatings & Application Technologies for Robotics Market Report Report –
Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the
following segments of the coatings & application technologies for robotics industry.
By Resin Type: Acrylic Coating, Polyurethane (PU)
Coating, Epoxy Coating, Phenolic Coating, Alkyd Coating, and Others.
By Technology: Powder Coating, Solvent-borne,
Water-borne, and Others.
By Process: Spray Coating, Electroplating, Brush
Coating, Dip Coating, and Others.
By End-Use Industry: Manufacturing, Aerospace &
Defense, Automotive, Marine, Health Care, Building & Construction, Paints
& Coatings, Food & Beverage, and Others.
By Geography: North America (USA, Canada, and
Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia,
Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea,
Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC),
South America (Brazil, Argentina, Colombia, Chile, and Rest of South America),
Rest of the World (Middle East, and Africa).
Key Takeaways
- The Asia-Pacific region will dominate the coatings & application technologies for robotics market due to a surge in demand for the automotive sector and the electronics sector, which is driving the demand for robotics in their production lines.
- Water borne coatings are the most preferred coating technology as water-borne coatings are much more environmentally friendly compared to solvent borne coatings.
- The growing demand for passenger vehicles and electric vehicles has led to an increase in demand for robotics that are used in the automotive industry. As such, this proves to be a great driver for coatings & application technologies for robotics market.
- Key players in the coatings & application technologies for robotics market are AkzoNobel N.V., Axalta Coating Systems, PPG Industries, The Sherwin Williams Company, and HMG Paints Limited.
Figure: Asia-Pacific Coatings & Application Technologies for Robotics Market
For More Details on This Report - Request for Sample
Coatings & Application Technologies for Robotics Market Analysis – By Resin Type
The acrylics segment held the largest share in
the coatings &
application technologies for robotics market
in 2021 with a share of 28.4%. Acrylic coatings provide low moisture absorption, short drying time,
clear protective coating, and good electrical & physical properties. The
main benefits of using acrylic coating are the ease of use, physical
properties, and low cost. It can be easily applied by brushing, dipping, or
spraying. In comparison, other coatings such as polyurethane and epoxy coatings
are more expensive and have a longer application time. As such, acrylic
coatings are the most common type of coatings used in robotics.
Coatings & Application Technologies for Robotics Market Analysis – By End-Use Industry
The manufacturing sector held the largest
share in the coatings & application technologies market in 2021 and is
expected to grow at a CAGR of 6.5% during
Coatings & Application Technologies for Robotics Market Analysis – By Geography
Asia-Pacific region dominated the coatings & application technologies for robotics market with a share of 45% in the year 2021. Increasing demand for the automotive sector coupled with increased production of electronics has led to a growing demand for assembly and fabrication robotics in the production lines of these sectors in the region. According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), the Asia-Pacific region had the largest production of motor vehicles in the year 2020, with a total production value of 44.3 million vehicles. China is the leading producer of motor vehicles in the world, with a total production of 25.3 million in 2020. China alone accounted for 32.5% of the total motor vehicle production in the world. Other than the aforementioned countries, other Asia-Pacific nations are also greatly investing in their automotive industry. For example, Hyundai, a South Korean multinational automotive manufacturer, has entered into a memorandum of understanding (MOU) with the Indonesian Government to set up their first-ever automotive manufacturing facility in the country for an investment of $1.55 billion. The project is estimated to go into the second phase in 2022. Due to these factors, the demand for robotics and the coatings and application technologies for robotics has seen a significant rise.
Coatings & Application Technologies for Robotics Market Drivers
The integration and growing demand for robotics in the health care sector:
One of the key drivers
for the coating & application technologies for robotics market is the
growing demand of robotics in the health care sector. In recent years, the
implementation of robotics in the health care sector has seen a dramatic
increase due to their versatility and ease of operation. Medical robots assist
in minimally invasive surgeries, monitoring for patients with chronic diseases,
intelligent therapeutics and more. They also help increase the operational
efficiencies of nurses and operators by streamlining routine tasks. According
to the International Federation of Robotics (IFR), medical robotics are
estimated to be USD $ 9.1 billion by 2022 due to a rapid increase in demand
specifically after the COVID-19 Pandemic. As the demand for robotics grows, the
demand for coatings and application technologies market is also estimated to
grow within the forecast period of
The increasing demand for the automotive industry, particularly electric vehicles:
The demand for passenger
vehicles has seen a significant increase in recent years, especially as
economies are recovering post the COVID-19 pandemic. According to the Organisation Internationale
des Cosntructeurs d’Automobiles (OICA), the total production of vehicles
increased to 57.3 million in 2021 which was an
8.9% increase from the production values of 2020.
One of the primary factors that are pushing the automotive market is the demand
for electric vehicles. For instance, according to the International Energy
Agency (IEA), the 2020 global electric car stock crossed the 10 million mark,
which is a 43% increase over 2019. Electric cars have also risen to hold a 4.6%
share in the global automotive industry in 2020. The Europe Electric Vehicle
(EV) Market also overtook China in terms of production in 2020 with Germany
registering about 395,000 new electric vehicles followed by France at 176,000.
With an increasing demand for the automotive sector, there has also been a
steady increase in demand for robotics in their production line. As such, this
proves to be a great driving factor for the coatings & application
technologies for robotics market within the forecast period of
Coatings & Application Technologies for Robotics Market Challenges
The presence of high VOC content in solvent borne coatings and regulations against it will hamper the market growth
Solvent borne coatings have a high degree of volatile organic compounds (VOCs) which can prove to be harmful to the human body and the environment. They can cause irritation, headaches, discomfort, and allergic reactions as normal side effects while also being fatal in some cases. VOCs are also notorious for causing smog formations and can adversely affect the ozone layer. As such, many governments and regulatory bodies put various regulations in place to limit the production of solvent borne coatings to reduce and prevent the emission of VOCs. For instance, the U.S. EPA regulates VOCs at the Federal Level in 40 CFR 59, also known as the National Volatile Organic Compound Emission Standards for Consumer and Commercial Products. Under this regulation, enterprises must maintain the VOC content threshold in products and follow legal requirements such as labeling, reporting, and record keeping. Due to this, the production of coatings & application technologies for robotics can be restricted and, as such, it proves to be a challenge for the market.
Coatings & Application Technologies for Robotics Industry Outlook
Technology launches, acquisitions,
and R&D activities are key strategies adopted by players in the market. Coatings
& Application Technologies for Robotics top 10 companies include:
- AkzoNobel N.V.
- Axalta Coating Systems
- PPG Industries
- Sherwin-Williams Company
- HMG Paints Limited
- U.S.Paint Corporation
- Kansai Paint Co., Ltd.
- The Lubrizol Corporation
- Nippon Paint Holdings Co., Ltd.
- Bernardo Ecenarro S.A
Recent Developments
- On December 16, 2021, Axalta Coating Systems launched Imron Industrial Ultra 2.8 VOC Topcoat, which is an enhanced urethane topcoat and will be used in supporting agriculture, construction, and earthmoving robotic equipment.
- On June 29, 2021, AkzoNobel signed an agreement to acquire Colombia-based paints & coatings company Grupo Orbis. The acquisition is set to compete in early 2022 and will establish and expand AkzoNobel’s long-term position in South America.
- On February 09, 2021, HMG Paints Limited announced a partnership with Breakwells Paint Ltd., a West Midlands-based coatings company in the UK. This helps HMG Paints expand their product offering and Breakwells Paint also gets the benefit of introducing HMG’s low VOC product offerings in their portfolio.