E-Coat Market is expected to Grow Rapidly in Upcoming Years!!!

The global e-coat market is estimated to grow from USD 3.08 Billion in 2016 to USD 3.80 Billion by 2021, at a CAGR of 4.34% between 2016 and 2021. The market is witnessing moderate growth because of demand for e-coats from the end-use industries such as automotive and appliances.

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The major companies operating in the global elastomeric coating market are BASF SE (Germany), Henry (U.S.), Dow Corning Corporation (U.S.), Progressive Painting Inc. (U.S.), Sherwin Williams (U.S.), Clariant Chemicals (Switzerland), PPG Industries (U.S.), Nippon Paints (Japan), Jotun A/S (Norway), Rodda Paints (U.S.), and others.

Besides new product launches and investments & expansions, companies adopted the strategies of joint ventures, partnerships, contracts, and agreements and mergers & acquisitions in order to expand their market share and distribution network. These two strategies accounted for a share of about 13% and 7% of the total number of growth strategies adopted by the players in the elastomeric coating market between 2011 and 2016.

In 2014, Dow Construction Chemicals (DCC), a business unit of The Dow Chemical Company, launched a new high performance, 100% acrylic re-dispersible powder, DLP-500. Due to this, Dow entered a new market with dry acrylic powder that is designed specifically for Exterior Insulation Finish Systems (EIFS) and stucco finishes.

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In 2014, Sherwin-Williams (U.S.) formed a joint venture to launch Premier Paints Company in Saudi Arabia. This joint venture, between Sherwin-Williams and Red Sea Housing Services Company (Saudi Arabia), launched Premier Paints Company, which will serve customers in the architectural, energy, and construction sectors in the region.