Global Powder Coatings market information- by resin type (thermoplastic and thermoset), by application (automotive & transportation, architectural & furniture, appliances, consumer goods, and others), by substrate (metal and non-metal) and region- Forecast till 2023
Synopsis of powder coatings market
Powder coatings are a type of coatings based on polymer resin systems, combined with pigments, flow modifiers, levelling agents, curatives, and other additives. These components are melt mixed, cooled, and ground into a uniform powder. Electrostatic spray deposition (ESD) is typically used to attain the application of powder coating on a metal substrate. Powder coatings offers excellent properties such as high durability, impact resistance, UV rays protection, moisture & chemical resistance. With the above-mentioned properties they are widely used in numerous application such as architectural & furniture, appliances, consumer goods, automotive & transportation, and others.
As per our analysis, some of the important market factors and trends identified in the global powder coatings market include rapid urbanization, increasing demand for solvent free coatings, and continuous growth of automotive industry. Moreover, high consumption of powder coatings coupled with shifting trend for replacement of conventional solvent based coatings in various end use industries is expected to fuel the growth of the market. Speedy industrialization along with rising consumer disposable income is also expected to drive the growth of the market over the forecast period, 2017 to 2023. Increasing usage of powder coatings in the manufacturing of various electronics & electrical parts is predicted to drive the demand for powder coatings over the assessment period. Rising concerns towards mitigation of the ill effects of volatile organic compound (VOC) coupled with stringent regulations imposed by various government bodies is estimated to propel the demand for powder coatings. However, high energy consumption is estimated to hinder the growth of the market over the assessment period.
Some of the prominent players operating in the global powder coatings market are PPG Industries, Inc (U.S.), The Valspar Corporation (U.S.), Akzo Nobel N.V. (the Netherlands), Asian Paints Limited (India), KANSAI PAINT CO.,LTD (India), Royal DSM (the Netherlands), Arkema (France), Evonik Industries (Germany), TCI Powder (U.S.), The Sherwin-Williams Company (U.S.), and others.
The report covers brief analysis of geographical regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
- Powder Coatings Manufacturers
- Traders and Distributors of Powder Coatings
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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Asia Pacific is estimated to be the largest powder coatings market followed by Europe and North America due to strong growth in automotive & transportation and architectural & furniture industry. In Asia Pacific, countries such as China, India and Japan are the fastest growing market for powder coatings, and is predicted to grow with the same pace over the assessment period. Improving living standards coupled with the flourishing growth of construction sector is predicted to contribute to the regional market growth. In Europe, Germany and UK are predicted to register a strong growth on account of tremendous demand for powder coatings in the automobile sector. In North America, the U.S and Canada are among the major contributors in the regional market growth due to expansion of appliances as well as consumer goods sector. The Middle Eastern and African countries such as Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE) are expected to witness substantial growth due to increasing foreign investments and shifting of manufacturing base for various end use industries to these region.
United Arab Emirates (UAE), Oman, Turkey, Qatar, Kuwait, and Saudi Arabia are witnessing increasing demand for durable coatings which is propelling the expansion of local market players in various countries and is predicted to fuel the demand for powder coatings.
The global powder coatings market is classified on the basis of resin type, application, substrate, and region. Based on resin type, the market is segmented into thermoplastic and thermoset. Thermoplastic segment is subdivided into nylon, polyolefin, polyvinyl fluoride (PVF), and polyvinyl chloride (PVC). Thermoset segment comprises of polyester, epoxy, acrylic, polyurethane, epoxy polyester hybrid, and others. Based on application, powder coatings market is segmented into automotive & transportation, architectural & furniture, appliances, consumer goods, and others. Based on substrate, the market is divided into metal and non-metal.
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