In-Mold Coatings Market Size

In-Mold Coatings Market Growth Projections and Opportunities

The worldwide market for in-mold coatings was worth a whopping USD 10,125.1 million in 2017 and is predicted to grow at a rate of 7.07%. This growth is expected to push the market value to around USD 16,224.2 million by the close of 2023. In-mold coating, a process that's both economical and environmentally friendly, is used to coat molded plastic surfaces. To keep costs down, this coating is applied during the molding process. The rising demand for in-mold coatings is primarily fueled by its increased application in making cars, where it efficiently and sustainably coats plastic surfaces. The automotive industry's heightened focus on reducing volatile organic compound (VOC) content and improving vehicle efficiency is another factor boosting the demand for in-mold coatings. Furthermore, the global market for in-mold coatings is expected to benefit from the growing need for affordable coating systems and the rising use of plastics in the automotive sector to lighten the weight of vehicles. This trend is anticipated to present profitable opportunities for market players during the assessment period. The market is divided based on the type of coating, substrate, application, and region.

The global in-mold coatings market can be categorized into sheet molding compounds (SMC), thermoplastic, bulk molding compounds (BMC), and others. Among these, the SMC segment dominated the market and was valued at USD 3,989.3 million in 2017. By the end of 2023, it is projected to reach USD 6,702.1 million. The preference for SMC substrates is on the rise due to the remarkable advantages offered by in-mold coatings. These benefits include creating a barrier against moisture, improving the clarity of images (DOI), and enhancing adhesion.

The in-mold coatings market globally is like a giant money pool, and in 2017, it had around USD 10,125.1 million in it. Now, experts think this pool will grow by about 7.07%, making it reach a staggering USD 16,224.2 million by the end of 2023. But what's in this pool, you ask? Well, it's a special coating technique called in-mold coating, and it's quite cool because it's both cheap and good for the environment. This technique is used to coat plastic things when they're being made. Think of it like adding a protective layer to your phone case while it's still being molded. Cool, right?

This in-mold coating thing getting so much attention? Well, it turns out, cars love it. Yes, cars! They use it to coat their plastic parts, and it's not just because it's cool but also because it's good for the planet. See, cars want to be efficient and not put out harmful stuff into the air, and in-mold coatings help them do just that. Also, people are looking at cars and thinking, "Hey, let's make them lighter!" So, they're using more plastic, and in-mold coatings are coming to the rescue, making sure everything stays coated and protected.