CATHODIC ELECTRODEPOSITION COATING MARKET ANALYSIS

The global cathodic electrodeposition coating market was valued at US$ 2785.2 million in 2022 and is expected to exhibit a CAGR of 4.9%, in terms of value over the forecast period (2023-2030), and is expected to reach US$ 4083.5 million by 2030.

Cathodic electrodeposition coating Market: Growth Drivers

Increasing Infrastructure Development:

Infrastructure Development activities such as construction of commercial buildings, bridges and industrial facilities require protective coating to prolong the lifespan of structures and prevent corrosion, Cathodic electrodeposition coating offer excellent corrosion resistance and adhesion making them suitable for infrastructure application. The demand for protective coatings in the construction sector is expected to drive the cathodic electrodeposition coating market growth

Figure 1. Global Cathodic Electrodeposition Coating Market Share (%), By Region, 2022

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Rising focus on eco-friendly coatings:

Cathodic electrodeposition coatings are known for their ability to provide a more sustainable and environmentally friendly alternative to traditional solvent-based coatings. With growing concerns about the environmental impact of coatings, research reports have indicated an increasing preference for CED coatings as they emit fewer volatile organic compounds (VOCs) and have lower levels of hazardous air pollutants.

Cathodic electrodeposition coating Market: Restraints

Limited application range:

While CED coatings offer excellent corrosion resistance, they may not be suitable for all substrates or applications. Research reports have noted that certain substrates, such as non-conductive materials such as plastics or wood, may not be compatible with cathodic electrodeposition processes. Additionally, CED coatings may have limitations in terms of achieving specific aesthetic finishes or specialized coating requirements, which could restrict their application in certain industries or niche markets.

Global Cathodic Electrodeposition Coating Market- Impact of Coronavirus (Covid-19) Pandemic

The pandemic has caused disruptions in global supply chains, including the availability and delivery of raw materials, chemicals, and equipment required for CED coating production. Lockdown measures, travel restrictions, and factory closures have resulted in delays, shortages, and increased costs for sourcing essential inputs, impacting the manufacturing capabilities of CED coating suppliers. Various industries that heavily rely on CED coatings, such as automotive, aerospace, and construction, have experienced significant disruptions during the pandemic. Production shutdowns, decreased consumer demand, and financial uncertainties have led to reduced demand for CED-coated products in these sectors. Automotive manufacturers, for example, faced production halts and reduced vehicle sales, affecting the demand for CED coatings used for corrosion protection.

Cathodic electrodeposition coating Market: Market Segmentation

North America is expected to exhibit significant growth in the global cathodic electrodeposition market during the forecast period. This is owing to the established automotive industry, which is creating a stagnant demand for new coating technologies in the region. Cathodic electrodeposition coatings are used in automotive parts. Therefore, growth of the automotive industry is expected to fuel demand for cathodic electrodeposition coating and in turn, is expected to drive the market growth during the forecast period. For instance, according to the American Automotive Policy Council report on State of the U.S. Automotive Industry in 2022, the U.S. auto production raised from 5.6 million vehicles in 2009 to 11.3 million vehicles in 2022. Moreover, according to the same source, the three major players in the U.S. automotive industry such as FCA US, Ford, and General Motors manufactures and buy vehicles and their parts, and also conducts R&D in the U.S. than their competitors.

Cathodic Electrodeposition Coating Market: By Application

Cathodic electrodeposition coating is the most widely used coating process in automotive industry, as it provides a corrosion resistant base coat on automotive parts in a single-layer process. Growth of the automobile industry is expected to drive demand for cathodic electrodeposition coating process over the forecast period. For instance, In June 2021, according to the India Brand Equity Foundation, India became the fourth largest auto market in 2022 with sales increasing 8.3% year-on-year to 3.99 million units. According to the same source, domestic automobiles sales increased by 6.71% during 2013-2019 with 26.27 million vehicles sold in 2019.

Figure 2. Global Cathodic Electrodeposition Coating Market Share (%), By Application, 2022

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Cathodic electrodeposition coating Market: Recent Developments

In September 2021, BASF Coatings has inaugurated a new research center for electrodeposition coating at its headquarters in Münster-Hiltrup, Germany. The electrophoretic or cathodic dip coat (e-coat) protects the surfaces, edges and cavities of a car body against corrosion, and evens out the roughness of the pre-treated metal surfaces, thus providing the optimum basis for the application of the subsequent paint layers.

In September 2021, We provide a customised product portfolio of automotive e-coat solutions with CathoGuard technology. It includes automobile bodywork as well as all metal pieces such as wheels, axles, and chassis components. We are a global leader in e-coat products that stand out for their outstanding performance and eco-friendliness with the CathoGuard 800 series. We also provide solutions that fulfil the forthcoming electric car criteria, allowing future mobility.

In December 2020, Henkel and DuPont have announced they will collaborate to distribute DuPont's electrocoat to the North American automotive parts supplier industry. This alliance expands Henkel's product offerings, providing customers a strong option for e-coat technology. With DuPont's electrocoat technology, Henkel can now offer customers a single point of contact for service, troubleshooting and ordering their surface preparation and coating solutions.

Cathodic electrodeposition coating Market: Key Companies

Major players operating in the global cathodic electrodeposition coating market include Kansai Paint Co., Ltd., Axalta Coating Systems, Kyoei Vietnam Co., Ltd, Nippon Paint Holdings Ltd., PPG Industries, Inc., B.L Downey, Dornauer-Grillitsch GmbH, KAPCO Manufacturing Inc., BASF Coatings Gmbh, and DuPont de Nemours, Inc.

*Definition: Cathodic electrodeposition coating have many environmental benefits that makes it an environment friendly solution for metal finishers. The volatile organic compounds (VOCs) content in cathodic electrodeposition coating ranges from 0.1 pounds per gallon to 3.0 pounds per gallon, with most of the products containing below 1.0 pounds per gallon.