White Goods Coatings Market By Coating Type (Plastic or Polymer based Coating, Powder based Coating), By White Goods Type (Washers and Dryers, Refrigerators and Freezers, Dishwashers, Microwave Ovens, Air Conditioners, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global white goods coatings market size was valued at $5.6 billion in 2022 and is estimated to reach $10.2 billion by 2032, registering a CAGR of 6.2% from 2023 to 2032.
Air conditioners, washing machines, dishwashers, refrigerators, and freezers are examples of large home equipment known as white goods. Although they were formerly available in white color, they are now available in a variety of colors and are still referred to as white goods. White goods coatings are the coatings used on these appliances.
Manufacturers in the white goods industry are heavily investing in R&D activities to upgrade their home appliances owing to surge in demand for highly advanced and smart appliances. Furthermore, the advent of Internet of Things and smartphone compatibility with smart devices and appliances are expected to contribute toward the growth of the global market. For instance, air conditioning, refrigerators, water heaters are now available with internet compatibility, which can be controlled by smartphones. Smart features and functionality are gaining major traction among the customers, and it can add great value to their standard of living.
LG’s most intelligent washer is able to detect a mixed load of t-shirts and pants and LG’s new user-friendly ezDispense feature takes the guesswork out of detergent dosage by automatically adding the exact amount of liquid detergent and fabric softener customized for each load size at optimal times during the wash cycle for improved results. Thus, increase in demand for home appliances will further propel the growth of coatings used on these white goods. Furthermore, the household appliance industry is undergoing major transformation. Domestically, the trend is toward efficient multifunctional appliances, while internationally, new prospects for white goods manufacturers are emerging. All these factors are major white goods market growth factors.
However, the difficulty with polymer coatings is that solvent volatilization during the curing process as well as damage during service, which will result in many flaws and decrease in impermeability. Moreover, polymer coatings are not abrasion resistant, as a result, once cleaned with a cloth or towel, the effect is already diminished. Furthermore, the coatings are unstable to soaps or surfactants. As a result, the favorable effect is transient. All these factors tend to hamper the use of polymer coatings in white goods industry.
Plastic coatings are commonly used on white goods such as refrigerators, washing machines, and dishwashers. White goods surfaces can be of different substrates such as acrylonitrile butadiene styrene (ABS), polycarbonate (PC), and polystyrene (PS). The major application of plastic coatings includes control panels, buttons, solo-panels, screens, switches, and other wiring elements. Growing investments in innovation of refrigerators units and rising income levels coupled with decline in product prices with high specifications availability are the key trends boosting the demand for refrigerators. This, is turn, is expected to increase the use of plastic coating on refrigerators. White goods manufacturers tend to have strict production requirements and regulations. Thus, manufacturers must produce coatings that comply with the white goods production regulations. Furthermore, key players have focused on offering innovative and sustainable water-based coatings, which comply with all the regulations of white goods manufacturers. Manufacturers of polymer-based coatings are offering innovative and sustainable water-based polymer coatings that tend to comply the prescribed VOC level. This factor is expected to offer potential growth opportunities for the market during the forecast period.
The global white goods coatings market forecast covers segmentation based on coating type, white goods type, and region. The report highlights details about various coating types, including plastic/polymer-based coating and powder-based coating. Furthermore, white goods covered in the study include washers & dryers, refrigerators & freezers, dishwashers, microwave ovens, air conditioners, and others. Moreover, it analyzes the current market trends of white goods coatings across different regions such as North America, Europe, Asia-Pacific, and LAMEA and suggests the future growth opportunities.
The key players operating in the white goods coatings market include Axalta Coating Systems LLC, Dymax Corporation, The Sherwin-Williams Company, Akzonobel N.V., IFS Coatings, GMMDL, Tecno Supply, VitraCoat, WEILBURGER Coatings GmbH, and PPG Wörwag Coatings GmbH and Co. KG.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the white goods coatings market analysis from 2022 to 2032 to identify the prevailing white goods coatings market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the white goods coatings market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global white goods coatings market trends, white goods market share, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Coating TypePlastic or Polymer based Coating
Powder based Coating
By White Goods TypeWashers and Dryers
Refrigerators and Freezers
Dishwashers
Microwave Ovens
Air Conditioners
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Turkey
Poland
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market PlayersAxalta Coating Systems LLC.
Dymax Corporation
Akzonobel N.V.
IFS Coatings
Tecno Supply
VitraCoat
WEILBURGER Coatings GmbH
PPG Wörwag Coatings GmbH and Co. KG
The Sherwin-Williams Company
GMMDL
Please Note: It will take 7-10 business days to complete the report upon order confirmation.