The global coatings and application technologies for robotics market is on the brink of reaching a substantial valuation, projected to reach USD 18,141.9 million by 2023. The market is estimated to attain a total valuation of USD 38,925 million by 2033 and is predicted to record a CAGR of 7.9% from 2023 to 2033.
The growth is primarily driven by the burgeoning interest and insights surrounding the coatings and application technologies for robotics market. The trend is expected to open doors to new opportunities within the market.
The global coatings and application technologies for robotics industry is witnessing significant growth. This growth is driven by the extensive use of automotive robotics in various sectors, including chemical and material industries.
Key Market Trends and Highlights
- Impact of Electric Vehicles (EVs):
- The growing trend of electric vehicles is significantly influencing the industrial robotics sector. Automakers are increasingly implementing automated robotic systems to streamline high-volume production processes, driving demand for industrial robotics.
- Integration of Advanced Technologies:
- The integration of machine learning and artificial intelligence (AI) into industrial robots is enhancing their efficiency and versatility. These technologies allow robots to perform a wider range of tasks and adapt to various production environments.
- Cost Reduction and Efficiency:
- Rising labor and factory insurance costs are pushing manufacturers to adopt industrial robotics as a cost-effective solution. Robots facilitate efficient resource allocation, minimize downtimes, and significantly reduce error rates, thereby enhancing operational efficiency and profitability.
- Challenges from Environmental Regulations:
- The coatings and application technologies used in robotics face environmental challenges due to pollution and volatile organic compound (VOC) emissions. These environmental concerns may hinder market growth and necessitate the development of more sustainable practices and materials.
Key Takeaways from the Market Study
- The market valuation in 2022 was US$ 17,066.7
- 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”, comments a Future Market Insights 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
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global coatings and application technologies for robotics market providing historical data between 2018 and 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the coatings and application technologies for robotics market, it is segmented based on major By Resin Type: (Polyurethane Coatings, Acrylic Coatings , Alkyd Coatings, Polyester Coatings, Epoxy Coatings ), Technology: (Solvent Borne Coatings, Water Borne Coatings , UV Cure Coatings, Powder Coatings), Coating Layer: (Primer Coatings, Base Coat Coatings , Top Coat Coatings , Clear Coat Coatings ), End-Use Industry: (Healthcare, Agriculture, Mining, Manufacturing, Construction), and by region: (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding China & Japan, Japan, China, Middle East & Africa)
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