Coatings And Application Technologies For Robotics Market - Forecast(2023 - 2028)

Report Code: CMR 46600 Report Format: PDF + Excel

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 2022-2027. Various coatings and application technologies provide a range of solutions in the field of robotics. Due to their versatile usage in a wide range of industry verticals, robotic applications need to have high resistance to environmental stresses and pressure, and high endurance, which are brought about by coatings. Coatings used in robotics are commonly acrylic coatings, polyurethanes, and epoxy coatings among others. As solvent borne coatings contain a high degree of volatile organic compounds (VOCs), water borne coatings are gaining a higher preference. Some common application processes on robotics are thermal spray coatings, electroplating, dip coating, and so on. In this market report, we will take an in-depth look at the coatings & application technologies for robotics industry outlook and analyse the market share of the coatings & application technologies for robotics top 10 companies. 

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 2021-2027 (USD $ Billion) 

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      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 2022-2027. Robotics plays an essential role in the manufacturing sector as they are used to fill numerous roles that require high-volume repetitive processes like assembly & disassembly of parts, fabrication, finishing, packaging, and so on. The United Nations Industry Development Organisation (UNIDO) states that there was a 3.5% growth in global manufacturing production year-on-year in September 2021, which is estimated to grow even further during the forecast period of 2022-2027. This also proves to be a great driver for the coatings & application technologies for robotics market.

      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 2022-2027.

      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 2022-2027.

      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:

      1. AkzoNobel N.V.
      2. Axalta Coating Systems
      3. PPG Industries
      4. Sherwin-Williams Company
      5. HMG Paints Limited
      6. U.S.Paint Corporation
      7. Kansai Paint Co., Ltd.
      8. The Lubrizol Corporation
      9. Nippon Paint Holdings Co., Ltd.
      10. 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. 

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      1. Coatings & Application Technologies for Robotics Market- Market Overview
          1.1 Definitions and Scope
      2. Coatings & Application Technologies for Robotics Market - Executive Summary
          2.1 Key Trends by Resin Type
          2.2 Key Trends by Technology
          2.3 Key Trends by Process
          2.4 Key Trends by End-Use Industry
          2.5 Key Trends by Geography
      3. Coatings & Application Technologies for Robotics Market – Comparative analysis
          3.1 Market Share Analysis- Major Companies
          3.2 Product Benchmarking- Major Companies
          3.3 Top 5 Financials Analysis
          3.4 Patent Analysis- Major Companies
          3.5 Pricing Analysis (ASPs will be provided)
      4. Coatings & Application Technologies for Robotics Market - Startup companies Scenario Premium Premium
          4.1 Major startup company analysis:
              4.1.1 Investment
              4.1.2 Revenue
              4.1.3 Product portfolio
              4.1.4 Venture Capital and Funding Scenario
      5. Coatings & Application Technologies for Robotics Market – Industry Market Entry Scenario Premium Premium
          5.1 Regulatory Framework Overview
          5.2 New Business and Ease of Doing Business Index
          5.3 Successful Venture Profiles
          5.4 Customer Analysis – Major companies
      6. Coatings & Application Technologies for Robotics Market - Market Forces
          6.1 Market Drivers
          6.2 Market Constraints
          6.3 Porters Five Force Model
              6.3.1 Bargaining Power of Suppliers
              6.3.2 Bargaining Powers of Buyers
              6.3.3 Threat of New Entrants
              6.3.4 Competitive Rivalry
              6.3.5 Threat of Substitutes
      7. Coatings & Application Technologies for Robotics Market – Strategic Analysis
          7.1 Value/Supply Chain Analysis
          7.2 Opportunity Analysis
          7.3 Product/Market Life Cycle
          7.4 Distributor Analysis – Major Companies
      8. Coatings & Application Technologies for Robotics Market – By Resin Type (Market Size -$Million/Billion)
          8.1 Acrylic Coating
          8.2 Polyurethane (PU) Coating
          8.3 Epoxy Coating
          8.4 Phenolic Coating
          8.5 Alkyd Coating
          8.6 Others
      9. Coatings & Application Technologies for Robotics Market – By Technology (Market Size - $Million/Billion)
          9.1 Powder Coating
          9.2 Solvent-borne
          9.3 Water-borne
          9.4 Others
      10. Coatings & Application Technologies for Robotics Market – By Process (Market Size - $Million/Billion)
          10.1 Spray Coating
          10.2 Electroplating
          10.3 Brush Coating
          10.4 Dip Coating
          10.5 Others
      11. Coatings & Application Technologies for Robotics Market – By End-Use Industry (Market Size -$Million/Billion)
          11.1 Manufacturing
          11.2 Aerospace & defense
          11.3 Automotive
          11.4 Marine
          11.5 Health Care
          11.6 Building & Construction
          11.7 Paints & Coatings
          11.8 Food & Beverage
          11.9 Others
      12. Coatings & Application Technologies for Robotics Market - By Geography (Market Size -$Million/Billion)
          12.1 North America
              12.1.1 USA
              12.1.2 Canada
              12.1.3 Mexico
          12.2 South America
              12.2.1 Brazil
              12.2.2 Argentina
              12.2.3 Colombia
              12.2.4 Chile
              12.2.5 Rest of South America
          12.3 Europe
              12.3.1 UK
              12.3.2 Germany
              12.3.3 France
              12.3.4 Italy
              12.3.5 Netherlands
              12.3.6 Spain
              12.3.7 Russia
              12.3.8 Belgium
              12.3.9 Rest of Europe
          12.4 Asia-Pacific
              12.4.1 China
              12.4.2 Japan
              12.4.3 India
              12.4.4 South Korea
              12.4.5 Australia and New Zeeland
              12.4.6 Indonesia
              12.4.7 Taiwan
              12.4.8 Malaysia
              12.4.9 Rest of APAC
          12.5 Rest of the World
              12.5.1 Middle East
                  12.5.1.1 Saudi Arabia
                  12.5.1.2 UAE
                  12.5.1.3 Israel
                  12.5.1.4 Rest of the Middle East
              12.5.2 Africa
                  12.5.2.1 South Africa
                  12.5.2.2 Nigeria
                  12.5.2.3 Rest of Africa
      13. Coatings & Application Technologies for Robotics Market – Entropy
          13.1 New Product Launches
          13.2 M&As, Collaborations, JVs and Partnerships
      14. Coatings & Application Technologies for Robotics Market – Industry / Segment Competition landscape Premium Premium
          14.1 Company Benchmarking Matrix – Major Companies
          14.2 Market Share at Global Level - Major companies
          14.3 Market Share by Key Region - Major companies
          14.4 Market Share by Key Country - Major companies
          14.5 Market Share by Key Application - Major companies
          14.6 Market Share by Key Product Type/Product category - Major companies
      15. Coatings & Application Technologies for Robotics Market – Key Company List by Country Premium Premium
      16. Coatings & Application Technologies for Robotics Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
          16.1 Company 1
          16.2 Company 2
          16.3 Company 3
          16.4 Company 4
          16.5 Company 5
          16.6 Company 6
          16.7 Company 7
          16.8 Company 8
          16.9 Company 9
          16.10 Company 10
      "*Financials would be provided on a best-efforts basis for private companies"