International.
According to the Zion Research report, global demand for the plastic coatings market was valued at more than US$5.62 million in 2015, is expected to reach more than US$7.74 million in 2021 and is projected to grow at a CAGR slightly above 5.48% between 2016 and 2021.
The report indicates that there has been tremendous growth in the use of plastic coatings in the automotive industry due to growing concerns about carbon emissions from conventional coatings. Plastic coating is carried out using four main processes such as powder coating, immersion coating, electrophoretic painting, spray coating, and another process.
Polyurethane is the leading segment due to several end-user applications. The plastic coating process includes powder coating, immersion coating, electrophoretic painting, spray coating and another process.
Immersion coating is the most efficient segment due to its ease of application and requires less machinery compared to other coating processes. Some of the major end users of the plastic layer are aerospace and defense, automotive, medical, construction and construction, and another end user. Among all, the automotive segment dominated the plastic coatings market with a significant market share in 2015.
The plastic coatings market was dominated by Europe in 2015 and was considered the region generating the highest revenue. This was mainly due to the high consumption of plastic coatings in different industrial applications such as construction and buildings, automotive and aerospace.
