Consumer Appliance Coatings Market

Consumer Appliance Coatings Market Outlook (2023-2033)

The global consumer appliance coatings market is set to enjoy a valuation of US$ 1.6 billion in 2023 and it is anticipated to grow at a CAGR of 5.5% to reach US$ 2.7 billion by the end of 2033.

Consumer appliance coatings are used to coat commercial and household appliances. The demand for various household appliances such as refrigerators, TV, cooking appliances, and other domestic appliances is increasing rapidly which is likely to create high demand for consumer appliance coatings.

Report Attributes	Details
Estimated Market Value (2023E)	US$ 1.6 Billion
Forecasted Market Value (2033F)	US$ 2.7 Billion
Global Market Growth Rate (2023-2033)	~5.5% CAGR
North America Market Share (2023)	~26.2%
East Asia Market Growth Rate (2023-2033)	~5.7% CAGR
Europe Market Growth Rate (2023-2033)	~5.4% CAGR
Key Companies Profiled	Akzo Nobel N V Axalta Coating System Jotus A/S Nippon Paint Co. PPG industries The Sherwin-William Company Tiger Corporation Valspar Corporation

Historic and Future Path for Consumer Appliance Coating Market

Consumer appliance coatings are widely used in the applications such as refrigerators, large cooking appliances, home laundry, and other household applications. The growing trend of smart homes will increase the demand for improved, stylish, and durable appliances. Consumer spending on smart home products is expected to reach US$ 170 billion by 2025. An upsurge in the number of foodies has completely changed the restaurant market in the last few years.

Increasing demand for energy and water-efficient electronic devices is likely to drive the demand for the consumer appliance coatings market. Coatings such as thermoplastic coating, and fluoropolymer coatings provide benefits such as chemical resistance, heat resistance, low friction, and waterproof moisture sensitivity helping to increase demand for consumer appliance coatings.

• Short Term (2023-2026): Rising demand for various types of refrigerators for household uses as well as small and medium scale restaurants is likely to create high demand for consumer appliance coatings.
• Medium Term (2026-2029): Improving standard of living and growing numbers of restaurants increase the need for energy and water-efficient electronic devices that in turn will create high demand for consumer appliance coatings in the coming years, especially in North America and Asia Pacific regions.
• Long Term (2029-2033): Increasing research and development activities from manufacturing companies to discover end-uses of consumer appliance coating and the rising trend of smart homes to create high demand in long term.

“Growth in the Consumer Electronics Appliances Industry to Boost the Market”

The Rising consumer electronics appliances industry is likely to create a positive impact on the growth of the consumer appliance coatings market during the assessment period. Increasing population and rising standard of livings in developed as well as developing countries are likely to create high demand for consumer appliance coatings.

The global consumer electronic appliance market was valued at over US$ 600 billion in 2022 and is expected to cross a valuation of over US$ 700 billion by the end of 2025.

The consumer electronics and home appliances market is driven by changing consumer preferences for innovative and smart products for household use. Rising disposable income, busy schedules, and the advantages of electronic appliances are some of the key factors for the growth of the consumer electronics appliances market.

The superior properties of consumer appliance coatings such as resistance to heat and chemicals, and water-proof are increasing the need for consumer appliance coatings in electronic appliances.

“Rising Government Regulation to Hamper Market Growth”

Rising government regulation regarding the use of chemicals in refrigerators is likely to have a negative impact on the growth of the consumer appliance coating market.

The manufacturing of coating includes products such as additives, modifiers, and pigment. These products are considered as dangerous to the environment and can cause contamination and pollution when released into water bodies. Such impacts on the environment can become a concern and can act as the biggest challenge for the consumer appliance coatings market growth.

Country-wise Insights

Why is U.S. Expected to be a Lucrative Market for Consumer Appliance Coatings?

U.S. household electronic appliance market was valued at over US$ 50 billion in 2022 which is expected to further grow at a CAGR of 2.8% between 2022 to 2027.

U.S. has witnessed high demand for various types of refrigerators. As per data, more than 98% of the population in the US holds at least one refrigerator. This is expected to boost the demand for the consumer appliance coatings market in the U.S. Increasing population, disposable income, and technological advancement are some of the prime factors for the growth of refrigerators in the U.S.

Also, U.S. has the presence of some of the leading refrigerators manufacturers such as Whirlpool Refrigerators, Viking Refrigerators, and GE Refrigerators which is likely to lift the consumer electronic market in the U.S.

These factors are likely to boost the demand for consumer appliance coatings in the U.S.

What are the Growth Opportunities for Consumer Appliance Coating in China?

China is considered the fastest-growing consumer appliance coating market across the globe. It is anticipated to account for over 60% of the market in East Asia.

The increasing population and rapidly changing consumer lifestyle are likely to increase the demand for consumer appliance coating during the forecast period. In addition, the rising use of technology and attractive designs with innovative and differential functionality as per the need of the end user is increasing demand for consumer appliance coatings.

Large appliances are used for housekeeping such as laundry, cleaning, and food preservation. Due to the increasing standard of living and increasing purchasing power among Chinese consumers, China consumer electronics market is anticipated to grow at a rapid pace.

Category-wise Insights

Which Resin Type is Likely to Dominate the Market Growth?

Epoxy resins are anticipated to dominate the market growth during the assessment period. Epoxy resin is used for both internal as well as external products.

Epoxy resin has a wide range of material characteristics such as low shrinkage during cure, good adhesion to all types of fibers, high mechanical properties, and easy processing which is highly preferred by the end users.

Owing to the increasing demand for high-quality aesthetics, good formability, and a high degree of scratch-resistance coatings, demand for epoxy resins is expected to expand at a CAGR of 7.0% between 2023 and 2033.

Which Application is Likely to Hold Maximum Market Share in the Consumer Appliance Coatings Market?

Refrigerators are likely to hold the maximum market share in the consumer appliance coatings market. An efficient refrigeration system with reduced power consumption is experiencing increased demand from consumers, which is the key factor for the growth of the consumer appliance coatings market.

Increasing adoption of various refrigeration systems such as mechanical compression, absorption refrigeration, evaporative cooling, and others, is spurring the requirement for consumer appliance coatings.

An increasing number of small and medium-scale restaurants across developing countries is likely to increase demand for various types of consumer appliances in the coming years.

Market Titans Key Strategies

Prominent players in the consumer appliance coatings market are Akzo Nobel N.V., Axalta Coating System, Jotus A/S, Nippon Paint, PPG Industries, Sherwin-William Company, Tiger Corporation, and Valspar Corporation.

Some of the leading market players in consumer appliance coating are focusing on research and development activities for increasing the efficiency of consumer coatings and providing coatings that enhance the safety, texture, and finishing of the appliance. Key players in the consumer appliance coatings market are emphasizing on improving the quality and quantity of their products to sustain their positions in this space. Companies are also looking to apply mergers & acquisitions strategy for increasing production capacity as well as increasing their presence in the high demanding areas.

• For instance, in April 2022, Akzo Nobel completed the acquisition of a Colombia-based paints and coatings company named Grupo Orbis. This will help them in strengthening their presence in the Latin American market.

Fact.MR has provided detailed information about the price points of key manufacturers of consumer appliances coatings positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Consumer Appliance Coatings Industry Research

• By Resin Type :

  • Epoxy
  • Epoxy PE Hybrid
  • Other Resin

• By Application :

  • Refrigerators
  • Large Cooking Appliances
  • Home Laundry
  • Other Application

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA