Global coatings and application technologies for robotics market to witness a robust growth rate during 2017-2027
The global coatings and application technologies for robotics market is expected to exhibit significant growth rate during the assessment period 2017-2027. The global market for coatings and application technologies for robotics has seen an upward trend in growth since 2012, and in 2016 the global market was valued at US$ 883.5 Mn which rose to about US$ 930 Mn in 2017 and is estimated to reflect an evaluation of more than US$ 1.5 Bn by the end of the year of assessment (2027). The global coatings and application technologies for robotics market is projected to grow at a robust value CAGR of 6.6% throughout the period of forecast, 2017-2027 to reach the estimated valuation.
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Approximately 2x growth anticipated in the water borne coating technology segment during the period of forecast
In the coating technology category, the water borne segment is expected to show remarkable market valuation by the end of the period of forecast. This segment dominated the global market in terms of value and volume during the 2012-2016 timeline and is expected to retain its title throughout the assessment period. The water borne segment is projected to grow at a robust rate during the period of forecast to register a value CAGR of 7.1%. In 2017, the water borne segment reflected a value a bit lower than US$ 355 Mn and is estimated to reach a valuation higher than US$ 740 Mn by the end of the year of assessment (2027). This segment is expected to lead the global coatings and application technologies for robotics market in the coming years. In water borne coatings, water is used as a solvent. Water borne coating technology is extensively used to disperse resins that are used in making paints. These are used extensively in various applications due to their glossy finish and protection from corrosion.
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Solvent borne technology uses liquid to give a protective layer, which usually consists of organic compounds. This technology also hinders corrosion process thus protecting the surface. However, solvent borne coatings cause pollution and produce VOCs that have a negative effect on the ozone layer. On the other hand, UV cure technology is used in bonding coating and sealing in industries. The solvent borne segment and UV cure segment by coating technology are expected to show similar growth rate, however, the solvent borne segment is a shade higher than UV cure segment. The UV cure segment is projected to grow at a moderate value CAGR of 4.3% and the solvent borne segment is expected to register a value CAGR of 4.7% throughout the period of assessment (2017-2027). Apart from growth rates, the solvent borne segment is expected to reflect higher market valuation than the UV cure segment. In 2017, the solvent borne segment reflected a valuation of more than US$ 195 Mn and is estimated to touch a valuation of more than US$ 300 Mn by the end of the year of assessment, 2027. Whereas, the UV cure segment is estimated to reach a value of about US$ 106 Mn by 2027 end from a value of around US$ 70 Mn in 2017.