Paint Process Automation Market Expected to Reach $9.22 Billion by 2030

According to a new report published by Allied Market Research, titled, “Paint Process Automation Market by Offering, Purpose, Vertical, and Type: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the paint process automation industry size was valued at $3.34 billion in 2020, and is projected to reach at $9.22 billion by 2030, growing at a CAGR of 11.7% during the forecast period.

Paint process automation is an advanced method of painting or coating products and equipment. It generally uses robots to achieve accurate and consistent paint finish quality. These robots are programmed to operate with minimal human interference. Paint process automation outweighs drawbacks of manual painting methods. Hence, there is an increasing popularity for paint process trend

Some of the prime drivers of the paint process automation industry are consistent painting results, cost-effective painting processes, and ability to meet industry-specific needs. These factors are estimated to propel the market growth rapidly during the forecast period. However, high installation cost acts as a major barrier for the paint process automation market growth. Contradictory, integration of advanced technologies with paint processes and its ability to meet sustainable goals create lucrative opportunities for the market growth during the forecast period.

The hardware segment was the highest contributor to the market in 2020, owing to high cost of production. The interior segment have prominent share in the market in 2020, owing to its ability for precise and high-quality results for intricate parts. In vertical, the automotive segment attributed maximum market share in 2020, owing to higher rate of adoption of automation in manufacturing facilities. In addition, wall-mounted painting robots had significant market share in 2020, owing to the limitation of space available at facilities.

The COVID-19 outbreak has significantly impacted the paint process automation market sales across the globe. Delay caused in production due to lack of skilled workforce and raw material availability due to partial and complete lockdown has hindered growth of the global market in various regions. However, emergence of COVID-19 pandemic has raised awareness of factory automation, which, in turn, creates potential opportunities for growth of the paint process automation market post-pandemic.

Region-wise, Asia-Pacific holds a significant share in the global paint process automation market. China holds major market share, owing to huge manufacturing hub and higher rate of adoption of automation. Therefore, demand and revenue generated from Asia-Pacific dominates on the global level.

Key Findings Of The Study

• In 2020, the hardware segment accounted for maximum revenue and is projected to grow at a notable CAGR of 11.1% during the forecast period.
• The interior segment accounted for more than 45% of the paint process automation market share in 2020.
• The automotive segment of the paint process automation market is projected to grow at a CAGR of 9.4% during the forecast period.
• Asia-Pacific contributed major share in the paint process automation market, accounting for more than 12.6% share in 2020.

The key players profiled in the report include ABB, CMA Robotics, DURR AG, Epistolio robot, FANUC AMERICA CORPORATION, Graco Inc., KAWASAKI HEAVY INDUSTRIES LTD., KUKA Aktiengesellschaft, Staubli International AG, and YASKAWA ELECTRIC PTE LTD. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the industry.