The global coatings and application technologies for robotics industry is poised for substantial growth, projected to reach USD 18,141.9 million by 2023 and USD 38,925 million by 2033, with a CAGR of 7.9% from 2023 to 2033.
This growth is driven by increasing advancements and interest in coatings and application technologies tailored for robotics, creating significant new opportunities within the market.
The expansion of the coatings and application technologies for robotics industry is primarily fueled by the widespread adoption of robotic systems across sectors such as automotive, chemicals, and materials. Robots offer considerable advantages including enhanced product quality, increased production capacity, reduced warranty costs, and improved workplace safety by automating hazardous and challenging tasks. These benefits continue to propel industry growth and innovation.
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A primary catalyst for market expansion is the substantial improvement in product quality achieved through automation. Robots are renowned for their precision and consistency, leading to fewer defects and errors in final products. This not only elevates overall product quality but also enhances customer satisfaction, driving market growth.
The utilization of robotics also boosts production capacity significantly. Robots operate continuously without breaks, thereby increasing manufacturing output substantially. This capability is particularly advantageous in industries with variable demand, allowing manufacturers to adjust production swiftly to meet market needs.
Moreover, integrating robotics into industrial processes reduces warranty costs by minimizing defects and faults. The reliability and accuracy of robots lessen the occurrence of issues that necessitate warranty repairs or replacements, resulting in cost savings for manufacturers and enhancing their competitiveness.
Despite these advantages, the initial high costs of acquiring and maintaining robotic systems present challenges to market growth. However, industry experts foresee a promising future driven by the increasing adoption of Industry 4.0 principles, which emphasize automation, data exchange, and digital technologies in manufacturing.
Overall, the coatings and application technologies for robotics market is poised for robust growth, driven by technological advancements, increasing industrial automation, and the benefits robots bring to manufacturing efficiency and product quality.
Key Takeaways from the Market Study
- The market valuation in 2022 was US$ 17,066.7 million.
- Based on technology, water-borne coatings are expected to dominate at a market share of 33.5% by 2033.
- Based on resin type, acrylic coatings are likely to register a market share of 53.4% by 2033.
- The coatings and application technologies for robotics market size expanded at 4.68% CAGR between 2018 and 2022.
- Japan is estimated to reach a market share of 6.5% in 2023.
- Australia experiences a significant value share of 4.42% in 2023.
“The investment aims to improve operational efficiency and reduce downtimes, further fueling the market’s growth. It is considered one of the key drivers of the coatings and application technologies for robotics market”, – says FMI analyst.
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Competitive Landscape
The coatings and application technologies for robotics industry boasts a substantial array of market participants. Research and development play a pivotal role among the market participants. It primarily focuses on the introduction of eco-friendly product lines as a core aspect of their manufacturing endeavors.
Key participants also employ various expansion strategies, including collaborations, mergers and acquisitions, and diligent exploration of regulatory approvals to bolster their market presence.
Key Innovations in the Market
Akzo Nobel, a prominent player in the coatings industry, embarked on a groundbreaking partnership with Qlayers, a Netherlands-based startup specializing in robotic solutions for applying paints and surface treatments in industrial and marine settings.
This collaboration signified Akzo Nobel’s commitment to exploring the synergy between its product offerings and robotic applications.
Axalta Coating Systems announced the launch of Imron® Industrial Ultra 2.8 VOC Topcoat, an enhanced urethane topcoat to support the agriculture, construction and earthmoving equipment (ACE) market segments.
The new technology offers low VOC emissions and a faster cure compared to other urethane topcoats.
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Key Companies Profiled
- Akzo Nobel N.V.
- Axalta Coating Systems
- PPG Industries
- The Sherwin-Williams Company
- HMG Paints Limited
- The Lubrizol Corporation
- Yashm Paint & Resin Industries
- U.S. Paint Corporation
- Kansai Paint Co. Ltd.
- Bernardo Ecenarro SA
- Nippon Paint Holdings Co., Ltd.
- Sheboygan Paint Company
- Beckers Group, Alps Coating Sdn. Bhd
- NOROO Paint & Coatings Co., Ltd.
- WEG SA, Reichhold LLC
- Tikkurila
Key Segmentation
By Resin Type:
- Polyurethane Coatings
- Acrylic Coatings
- Alkyd Coatings
- Polyester Coatings
- Epoxy Coatings
By Technology:
- Solvent Borne Coatings
- Water Borne Coatings
- UV Cure Coatings
- Powder Coatings
By Coating Layer:
- Primer Coatings
- Base Coat Coatings
- Top Coat Coatings
- Clear Coat Coatings
By End Use Industry:
- Healthcare
- Agriculture
- Mining
- Manufacturing
- Construction
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- China
- Japan
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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