The Global Graphite Coatings Spray market is predicted to achieve a valuation of US$ 660 Mn by 2021, according to a new report published by Fact.MR, a market research and competitive intelligence company, and grow at a stunning CAGR of more than 6% from 2021 to 2031.
Between 2016 and 2020, the market saw a significant increase in demand, with a forecast growth rate of 5.6 percent. Fact. MR sees a lot of promise in this sector, because to factors including the expanding use of Graphite Coatings Spray in batteries and transistors, as well as the growing demand for efficient metal coatings in the automobile industry.
The coatings business, in particular, has seen a significant increase in worth due to increased demand for low-VOC and high-temperature-resistant coatings. This has created opportunities for high-value coatings, such as Graphite Coatings Spray.
Because of their excellent isostatic properties and uniformity, Graphite Coatings Spray are in high demand in the industrial machinery sector. Apart from these characteristics, graphite is also utilised as a dry lubricant, and its application in the automobile sector has reached new heights in the last five years.
Graphite Coatings Spray Market: Key Takeaways
- By 2031, the Graphite Coatings Spray market is expected to grow by 1.8 times its current size.
- The automotive industry has been the fastest-growing among end-use industries, and this trend is expected to continue during the projected period.
- The energy industry’s increased consumption of Graphite Coatings Spray is expected to drive up demand for Graphite Coatings Spray in the future years.
- During the long-term forecast period, dry lubrication is expected to dominate the demand pie.
- By 2031, the Graphite Coatings Spray market in the United States is expected to be worth US$ 250 million.
- In FY2020, Asia Pacific seized the market throne, and it is expected to maintain that position for the long-term forecast period.
What are the Key Opportunities for Graphite Coating Manufacturers?
The increased demand for Graphite Coatings Spray has been fueled in part by the automotive industry. This is owing to the vehicle industry’s association with several material-handling operations and material-utilization techniques. As a result, Graphite Coatings Spray are always in high demand for preventing rust and corrosion on metal bodies.
The vehicle sector contributed more than 34% of Graphite Coatings Spray demand in 2020, and rising industrialization around the world would provide a promising picture for the projected period.
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