The global consumer appliance coatings market is projected to reach a valuation of US$ 1.6 billion in 2023, with expectations to grow at a CAGR of 5.5%, reaching US$ 2.7 billion by 2033.

Consumer appliance coatings are essential for protecting and enhancing the appearance of both commercial and household appliances. As demand for household appliances like refrigerators, televisions, cooking devices, and other domestic products continues to rise, the need for consumer appliance coatings is expected to increase significantly.

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Country-wise Insights

The U.S. household electronic appliance market was valued at over US$ 50 billion in 2022 and is projected to grow at a CAGR of 2.8% from 2022 to 2027.

Refrigerators, in particular, have seen high demand, with over 98% of U.S. households owning at least one. This growing demand is expected to drive the U.S. consumer appliance coatings market. Key factors such as population growth, rising disposable income, and advancements in technology are contributing to the increasing demand for refrigerators.

Moreover, the presence of major refrigerator manufacturers like Whirlpool, Viking, and GE in the U.S. is expected to further boost the consumer electronics market, positively impacting the demand for appliance coatings.

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Category-wise Insights

Epoxy resins are expected to lead market growth throughout the forecast period, driven by their versatility in both internal and external applications.

Epoxy resins offer a range of desirable properties, including low shrinkage during curing, strong adhesion to various fibers, high mechanical strength, and ease of processing. These characteristics make them a top choice among end-users.

With rising demand for coatings that provide superior aesthetics, excellent formability, and high scratch resistance, the market for epoxy resins is projected to grow at a CAGR of 7.0% between 2023 and 2033.

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Competitive Landscape

Key players in the consumer appliance coatings market include Akzo Nobel N.V., Axalta Coating Systems, Jotus A/S, Nippon Paint, PPG Industries, Sherwin-Williams Company, Tiger Corporation, and Valspar Corporation.

Leading companies in this market are focusing on research and development to enhance the efficiency of consumer coatings, aiming to improve safety, texture, and finishing of appliances. They are also investing in product quality and capacity to maintain their market positions. Strategies such as mergers and acquisitions are being employed to expand production capabilities and strengthen their presence in high-demand regions.

For example, in April 2022, Akzo Nobel acquired Grupo Orbis, a Colombia-based paints and coatings company, to bolster its presence in the Latin American market.

Fact.MR's recent report offers detailed insights into the price points of major consumer appliance coatings manufacturers across regions, their sales growth, production capacities, and anticipated technological advancements.

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