MRO Magazine

Increase Spending on Smart Appliances Will Boost the Global Consumer Appliance Coatings Market Through 2019, says Technavio


February 3, 2016
By Business Wire News

LONDON

According to the latest market study released by Technavio,theglobal consumer appliance coatings marketis set to post a CAGR of about 7% by 2019.

This research report titled ‘Global Consumer Appliance Coatings Market 2015-2019’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

Request sample report: http://goo.gl/k6gPPx

The report segments the global consumer appliance coatings market into four different types of applications:

  • Refrigeration
  • Large cooking appliance
  • Home laundry
  • Miscellaneous kitchen appliances (includes dishwashers and microwaves)

As of 2014, the refrigeration segment accounted for a market share of almost 37% of the global consumer appliance coatings market, followed by the large cooking appliance segment with a share of close to 27% and the home laundry segment with a share of about 25%. The large cooking appliance segment is expected to be the fastest growing segment during the forecast period because of the rising income level of people, especially in emerging economies like India and China.

Global consumer appliance coatings market by refrigeration

The rising income level among the middle-class population because of rapid urbanization, especially in emerging countries like China and India, will propel demand for refrigeration in the market. “Advancements in technology, increase in consumer spending on smart appliances, and focus on new textures and designing will open up huge opportunities in the appliance coatings market,” says Debasish Nayak, lead analyst from Technavio, specializing in research on paints, coatings, and pigments sector.

Global consumer appliance coatings market by large cooking appliances

There is a growing concern among consumers toward global warming and accelerated increase in price of currently used fuels. Consumers are preferring household appliances that are energy efficient and environmentally friendly. The induction method of cooking is one such instance where energy waste is reduced considerably. Debasish further adds, “Urbanization and lack of ample space in homes have led families to demand household appliances that are attractive, can be placed in reduced spaces, and that have two or more functions.”

Global consumer appliance coatings market by home laundry

The global consumer appliance coatings market by home laundry is expected to witness average growth during the forecast period, posting a CAGR of over 5%. The recent advancements in pre-painted technologies and the growing demand for vibrant colors and fresh styles will open up opportunities in the market for home laundry. Moreover, with the huge demand for colors like deep reds, intense blues, and other innovative colors, vendors have introduced a development of polychromatic coatings in the home laundry sector. These coatings will provide state-of-the-art color consistency, which the customers are demanding, while also providing a low-cost solution in the finishes and durability of the appliance.

Global consumer appliance coatings market by miscellaneous cooking appliances

The miscellaneous cooking appliances segment is expected to witness moderate growth during the forecast period, posting a CAGR of nearly 7%. This segment mainly includes appliances like dishwashers and microwaves. The huge growth in the home appliance industry because of the rising income level of people, especially in emerging countries like India and China, will open up huge opportunities in the market.

The top vendors of the global consumer appliance coatings market highlighted in this report are:

  • AKZONOBEL
  • Dow Chemical
  • PPG
  • VALSPAR

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 208 123 1770
www.technavio.com