Global powder coating market size was valued US$ 10.31 and is estimated to reach US$ 16.22 at CAGR of about 5.83 % during a forecast period.
Demand for powder coatings has increased owing to growing technological innovation and increasing demand from applications such as architectural, appliances, automotive. Advantages of powder coatings over wet paint systems such as predefined film thickness and easy rework of poorly coated areas are factors driving market demand over a forecast period. Powder coating is conservative, durable, quality membrane, perfect toughness, and scratch resistance, shine retention, waterproof and impermeable to chalking. Powder coating performs well in extreme environmental conditions. It complies with the American Automobile Manufacturers Association particulars and is an ecofriendly procedure. Powder coatings are cost-effective compare to other coatings, don't contain solvents and volatile organic compounds. Also powder coating has the ability to be recovered and reused hence reducing by product waste. These all factor drives the powder coating market.
Thermosets is dominating the powder coating market. Thermosets are generally preferred because they are resistant to elevated temperatures. Out of thermoset sub-segments Polyester and polyurethane comprises large share. Epoxy polyester segment is seen to be rapid growing in powder coating. Electrostatic spray is the most employed coating technique as it allows coating of complex shapes and does not require preheating of part to be coated. Electrostatic spray segment is expected to continue its dominance throughout the forecast period.
Growing product demand for various applications inducing horns, wipers, radiator grills, door handles, wheel rims, metallic structural component, bumpers, and bicycle will propel market growth over the forecast period. Appliances segment to grow at high CAGR the global powder coating market comprising one fifth of the market share. Architechural coating dominated the market followed by automotive held a significant portion of worldwide utilization of powder coatings.
Asia Pacific is estimated to be the dominant segment of the market on account of the robust growth of sectors in China and India. Asia Pacific comprise one third of the global powder coating market. Europe experiences a good growth in the automotive category While Middle East & Africa is expected to notice considerable growth.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Powder Coating market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Powder Coating market.
Scope of the Powder Coating Market:
Global Powder Coating Market By Resin Type:
• Thermoset
o Epoxy
o Polyester
o Epoxy Polyester Hybrid
o Acrylic
o polyurethane
• Thermoplastic
o Polyvinyl Chloride (PVC)
o Nylon
o Polyolefin
o Polyvinylidene Fluoride (PVDF)
Global Powder Coating Market By Coating Type:
• Electrostatic Spray
• Fluidized Bed
Global Powder Coating Market By Application Type:
• Appliances
• Automotive
• Architectural
• Furniture
• Agriculture
• Construction & Earthmoving Equipment
• Industrial
• Others
Global Powder Coating Market By Region:
• Asia Pacific
• Europe
• North America
• Middle East & Africa
• Latin America
Key Players Analysed in the Report:
• AkzoNobel
• Axalta Coating Systems
• PPG Industries
• IGP Pulvertechnik AG
• Sherwin-Williams
• BASF
• Valspar Corporation
• Allnex Italy Srl
• TCI Powder Coatings
• Nippon Paint
• Evonik Industries
• Kansai Paint and Jotun
• Asian Paints Limited
• Berger Paints India Limited
• Jotun A/S
• Somar Corporation
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