The liquid, powder, and specialty coating market is estimated to grow by $5.4B from 2022 to 2027 at a CAGR of 5.48%, according to a report by Technavio.
Increasing automation is driving much of this growth, the report says, because it makes the process both more efficient and more consistent. Automation also offers benefits in terms of operator safety and control.
The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services.