In-Mold Coatings is used in various industries such as automotive, agriculture, marine, transportation, and others. Additionally, the growing demand in the automotive industry is a key factor to drive the In-Mold Coatings Market. On the basis of region, the market share of In-Mold Coatings is high in Asia Pacific due to huge utilization in growing industry such as automotive, agriculture, marine, transportation, and others. It is also expected to increase at a higher growth rate as compared to other regions such as North America, Europe, Latin America and the Middle East & Africa.
Market Segmentation:
Global In-Mold Coatings Market is divided into technology, coating system, application, and region.
On the basis of technology the market is segmented into water based IMC, solvent based IMC, powder, UV, others. Among all, water based IMC technique is highly utilize in automobile interiors using polyurethane that required thin and non-reactive coatings. Whereas, Solvent based In-Mold Coatings are highly sophisticated in the market and are used in different In-Mold applications. One of the advantage of solvent based in Mold Coatings are rapidly drying release film when used in automated production cycles can benefit the market growth. On the basis of coating system the market is bifurcated into 1k and 2k. Water based 1K In-Mold Coatings are new development for refining polyurethane form parts for interior applications. These eco-friendly coating system gives exceptional processing and adhesion behavior as well as resistances comparable to the standard 2K In-Mold Coatings.
On the basis of application, the In-Mold Coatings Market is segmented into automotive, agriculture, marine, transportation, and others. In-Mold Coatings are highly used in automotive industry, especially for window encapsulations and steering wheels. Presently, the following components are being prepared using In-Mold processes i.e. door panels, steering wheels, headrests, instrument panels, armrests, airbag covers, assist handles, and seat covers. Most of these applications utilize waterborne In-Mold Coatings such as injected polyurethane elastomer, polyurethane spray-able elastomer and polyurethane foam. The In-Mold Coating procedure allows for parts to be molded and coated in a single step process so that finishers don’t have to apply several steps to mold and paint. This removes numerous plastic preparation costs such as sanding, flame treating, degreasing, cleaning, priming, etc. and also uses less labor, less packing & shipping, and yields less waste, thus making a substantial cost savings for the finisher.
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In addition to processing advantages, In-Mold Coatings offer other advantages over post-painting. In-Mold Coatings provides all of the advantages from scenario of processing, performance, environmental, at a lower cost. In-Mold Coatings application have diverse fields such as interior, for instance, door linings, consoles, dashboards, armrests, etc. and also attached parts for the automobile’s bodywork like bumpers, rear hatches, engine bonnets, spoilers, boot lids, etc. Furthermore, In-Mold Coatings can be applied during the molding process of plastics, sheet molding compound or SMC and composite components for automotive, agriculture machinery, heavy truck, marine applications, and others. Presently, it has expanded its application to non-skid surfaces for beverage trays, residential doors, and textured, and other applications to provide a smooth, protected and sealed surface.
Key Players:
Key players of the Global In-Mold Coatings Market are BOMIX (Germany), OMNOVA Solutions Inc. (US), AKZONOBEL POWDER COATINGS (Netherlands), Stahl Holdings B.V. (Netherlands), Red Spot Paint & Varnish Company, Inc (US), Performix by Plasti Dip International (US), The Sherwin-Williams Company (US), FreiLacke (Germany), ISL-CHEMIE (Germany), FGN Fujikura Kasei Global Network. (UK), and others.
Regional Analysis:
Geographically, Asia Pacific accounts for the largest market share in In-Mold coaTings market growth. Upgraded lifestyle, increasing cost of living and rising population have raised the automotive industry and hence In-Mold Coating in this region. North America holds the second position for In-Mold Coatings Market and is another lucrative market in terms of value and volume after Asia Pacific. UK, Canada, and United Mexican States led the demand for In-Mold Coatings in this region. Europe accounted for the third largest share in the global In-Mold Coatings Market in 2016. On the other hand, Latin America, Middle East & Africa is another growing market for In-Mold Coatings and likely to show better growth rate over the forecast period.
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