The market size for coating equipment is projected to grow from USD 20.4 billion in 2018 to more than 27.7 billion by 2023, at a CAGR of 6.3%. Increasing demand from end-use industries and the need for replacement of existing coating systems are the driving factor for the coating equipment market.

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Key Market Players
The leading players in the coating equipment market are Nordson Corp (US), IHI Corp (Japan), OC Oerlikon (Switzerland), SATA (Germany), Graco (US), ANEST IWATA (JAPAN), ASAHI Sunac Corp. (Japan), J. Wagner (Germany), Carlisle Companies (US), and WIWA Wilhelm Wagner (Germany).

The specialty coating equipment segment accounted for the largest share of the market.

Specialty coating equipment is used to apply specialty coatings. Specialty coating equipment includes PVD and CVD equipment, and thermal sprays, among others. In the emerging countries of APAC and the Middle East & Africa, the demand for this equipment is rising due to the increasing requirement for long-lasting protective coating in various applications.

Aerospace is projected to be the fastest-growing application of coating equipment during the forecast period.

The aerospace end-use industry is projected to register the fastest-growth during the forecast period. Strong growth of the aerospace industry and development of new aerospace coatings are the factors boosting the growth of the coating equipment market in this segment.

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The industrial coating segment of Nordson Corporation had net sales of USD 253.3 million in 2017, which is a marginal increase from the previous year. Liquid coating, powder coating, UV curing, and container coating products drive the growth of this business segment. The company has adopted strategies such as new product launches and agreements to expand its production lines and customer base. The company’s strategy is focused on innovation and growing its customer base with excellence in business practices. The company has a stronghold in the liquid and powder coating equipment business.

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