Transparency Market Research in its new report titled, “Electrical Appliance Coatings Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the electrical appliance coatings market. The TMR report anticipates that the higher standards of living, especially in emerging economies will drive the electrical appliance coatings market during the forecast period i.e, 2018-2026. Purchasing power has increased in the past few decades in developing regions. This has led people to purchase electrical appliances that were once considered luxurious. The rapid expansion in the electrical appliance coating market can be ascribed to rapid development in the electronics industry, which is primarily driven by South East Asian countries, says the report.
As per the report, innovative formulations developed by manufacturers also act as major driving factors for the electrical appliance coatings market. Manufacturers use powder coatings to enhance the durability and aesthetic appeal of everyday electrical appliances. The development of smart and connected appliances is expected to provide attractive opportunities to the electrical appliance coatings market. Advancements in smart technology are also expected to provide attractive expansion opportunities to the electrical appliance coatings market in the coming years. Recent advancements have been made in powder coating, which is a key technology for coating on electrical appliances.
TMR reports that the global electrical appliance coatings market expanded at a rapid pace in 2017, and the trend is estimated to continue during the forecast period. North America is a major region of the electrical appliance coatings market. Rise in demand for household electrical appliances in North America is anticipated to offer attractive expansion opportunities to the electrical appliance coatings market in the region. Germany, the U.K., and France are some of the major importers of coatings on electrical appliances in Europe. Rise in population, urbanization, and changes in lifestyle are anticipated to boost the electrical appliance coatings market in Asia Pacific during the forecast period. Demand for electrical appliance coatings is high from countries such as China, Japan, and South Korea in the Asia Pacific region. The electrical appliance coatings market in Latin America and Africa is expected to expand significantly, owing to rapid urbanization and overall technological advancements in the region, as per the report.
On the basis of material, the global electrical appliance coatings market is divided into plastics, ceramics, and steel. Thermoplastic powder coatings offer some distinguished properties. These are based on polyolefins, polyvinylidiene fluorides, polyamides, polyvinyl chloride or polyesters. Many of the plastics such as PVC and teflons are used as coatings for electrical insulation coatings for appliances and dishwashers. In terms of application, the electrical appliance coatings market is split into microwave ovens, coffee machines, washing machines, air conditioners, mixers, refrigerators, vacuum cleaners, electric water heater tanks, fans, hair dryers, etc. Some of the major players operating in the global electrical appliance coatings market are profiled in this report to give a better competitive analysis and these include the Axalta Coating Systems, Erie Powder Coatings, and GMM Development Limited.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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