Global In-Mold Coatings Market: Market Driver and Restraint
In-mold coatings applications have been witnessing considerable demand in Asian countries such as in China and India. This demand is fueled by rising capital investments in construction activities and setting up of large-scale infrastructure projects in the region. Besides, massive investment in the industrial sector is expected to drive demand for in-mold coatings through 2023.
In-mold coatings have been finding significant applications in automotive and buildings and constructions, sanitary products, etc. APAC and Europe are key regions in terms of the industrial sectors at a global level and are anticipated to grow further in the near future with regard to the industry, which in turn, is expected to create significant opportunities for growth of the regional in-mold coatings market over the forecast period.
However, factors such as complete dependency on petrochemical feedstock, recyclability issue of composites and high cost of raw materials are anticipated to pose a significant challenge to the global in-mold coatings market growth.
Global In-Mold Coatings Market: Forecast by Type
The global In-Mold Coatings market has been comprehensively covered on the basis of the taxonomy i.e. by product type. This segment includes Water Based, Solvent Based and Powder Based.
Global In-Mold Coatings Market: Forecast by Application
Application segment consists of electronics & appliances, automotive, truck, rail, sanitary products, building & construction, medical and others.
The Automotive segment is projected to account for a major share of the global in-mold coatings market through 2023. Growth of the building & construction segment is estimated to remain moderate over the forecast period. Expanding at a healthy growth rate, the electronics & appliances segment is expected to create significant incremental $ opportunity during the forecast period. The demand for other industrial applications is expected to remain moderate to high across different regions. On the other hand, the sanitary products segment is estimated to exhibit a moderate growth rate throughout the forecast period.
Global In-Mold Coatings Market: Forecast by Region
North America, South America, Europe, APAC and MEA are the five regions that are included in this report. Each region has its own dedicated section, regional In-Mold Coatings market analysis helps key stakeholders decide which region they wish to focus upon in the global In-Mold Coatings market.
The Asia Pacific regional market is expected to witness continuous growth in the global in-mold coatings market followed by Europe. Driven by sales growth of in-mold coatings across various end users, the APAC market is expected to witness a sustainable growth rate over the coming years.
Global In-Mold Coatings Market: Key Players
OMNOVA Solutions Inc., Stahl Holdings bv, Fujichem Sonneborn Limited (Fujikura Kasei Global Network), Akzo Nobel N.V. , Berlac Group, The Sherwin-Williams Company, KECK Chimie, Protech Powder Coatings Inc., ADAPTA COLOR, S.L., RASCHIG GmbH, Emil Frei GmbH & Co. KG (FreiLacke), Chromaflo Technologies, Performix by Plasti Dip International and PANADUR GmbH, are the key vendors included in this report.