Global Powder Coatings Market
Global Powder Coatings Market Report Description:
Global powder coatings market report gives comprehensive outlook on powder coatings across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global powder coatings market gives historical, current, and future market sizes (US$ Mn) on the basis of resin type, coating method, application and region. This report studies global powder coatings market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global powder coatings market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global powder coatings market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global powder coatings market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global powder coatings products.
Global Powder Coatings Market:
The global market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Stringent environmental regulations, advantages of powder coatings over traditional wet paint systems, adoption of the technology in the automotive sector, flourishing construction industry together with rapid economic growth in emerging countries, technological advancements and increasing demand from end user industries, such as architectural, appliances, automotive, furniture, agriculture, construction and earthmoving equipment (ACE) are some factors influencing the market growth. However, factors such as fluctuating raw material prices and difficulty in obtaining thin films are limiting the market growth.
Increasing Demand from Automotive Industry is Fueling the Market Growth
Powder coatings are well established as a finishing technique in the automotive market worldwide. These coatings offer benefits such as toughness and chip resistance. Powder coatings have come a long way in automotive applications since the early 1970s. Within the automotive industry, powder coating is used in a variety of ways, including everything from wheels and hub caps to door handles, bumpers, and even decorative trim. In many cases, powder coating is used to protect the body of the automobile from corrosion or rust.
In addition to these exterior uses, this material is also used inside the engine on radiators, filters, and other parts. Many new models of Volvo and BMW are already using this type of coating, and Ford, GM, and Chrysler are testing it. The success of the technology has been continuous improvement in raw materials, formulating techniques, and manufacturing processes. Powder is here to stay, and there is still room for significant growth in the automotive market as long as the technology continues to advance.
Difficulty in Obtaining Thin Films Hampers the Market Growth
Powder coating process is excellent at achieving smooth and even thick coatings, it is difficult to produce the same with thin coatings. This limitation results from how powder coatings are applied, as it is challenging to control the amount and speed at which the powder is applied to the substrate. Additionally, while thicker coatings can more easily hide surface imperfections, thinner coatings tend to display more orange-peeled textures. This condition can be attributed to inadequate pre-treatment, too much, too little, or improperly applied powder, and insufficient curing times or temperatures. In any case, when a smooth, thin coating finish is required, it is much more difficult to achieve the result with the powder coating method.
Asia Pacific Accounts for Larger Market Revenue Share in Global Powder Coatings Market
Asia Pacific accounted for larger revenue share in global powder coatings market with considerable CAGR due to changing lifestyle, growth in transportation infrastructure and rising disposable income. Also, China is the major contributor for the market growth in this region as there is an increase in demand for electric home appliances in the country. In addition, North America held considerable market share during estimated period owing to increasing environmental concerns and rising awareness regarding the harmful effects of solvent-based coatings.
Key player’s profiles in the global powder coatings market include:
- AkzoNobel N.V. (Netherlands)
- Asian Paints Limited (India)
- Axalta Coating Systems (US)
- Berger Paints India Limited (India)
- Jotun A/S (Norway)
- Kansai Paint Co.Ltd. (Japan)
- PPG IndustriesInc. (US)
- Somar Corporation (Japan)
- The Sherwin-Williams Company (US)
- The Valspar Corporation (US)
Global powder coatings market is surging owing to frequent acquisitions and launchings by the market players. For instance, in November 2017, AkzoNobel acquired the Thailand based manufacturer V.Powdertech Co. Ltd., to enhance its product offerings for home appliances, industrial applications, and furniture.
Key Findings of the Report:
- Global powder coatings market expanding at significant CAGR over 2019 to 2025 owing to advantages of powder coatings over traditional wet paint systems
- Based on resin type, thermoplastic segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global powder coatings market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Resin Type
- Polyvinyl Chloride (PVC)
- Polyvinylidene Fluoride (PVDF)
- Epoxy Polyester Hybrid
By Coating Method
- Electrostatic Spray
- Fluidized Bed
- Agriculture Construction& Earthmoving Equipment (ACE)
- General Industrial
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA