Growth opportunities in the powder coatings market look promising over the next six years. This is mainly due to the growing application of powder coatings in the automotive industry and consumer goods owing to their high abrasion and anti-corrosive property and favorable government initiatives, and strict regulations for VOC emissions.
Powder Coatings Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The favorable initiatives taken by the government, along with the prudent stringent norms against VOC emissions, have contributed to the growth of the global powder coatings market. The European Parliament and Council have restricted the usage of organic solvents like paints and paint products owing to high VOC emissions. Also, the augmenting use of these coatings in the consumer goods and automotive industry due to the anti-corrosive and superior abrasion to protect metallic and non-metallic substrates will strengthen the powder coatings market size. The North American organization known as “Powder Coating Institute” states that 15% of the industrial finishing paint market uses powder in some form or the other, which shows the potential of powder coatings market growth.
In 2019, PPG declared the initiation of PPG ENVIROCRON Extreme Protection Edge coatings. The new product uses patent-pending, better powder coatings technology, and exceptional protection from corrosion in one coat. The inception of offerings is one of the evolving trends, thus fuelling the growth of the market because of the innovative technology that offers coverage and surpasses standard one and two-coat powder systems, and covers sharp edges created at the time of metal fabrication. However, as per the powder coatings market analysis, these coatings create a thick finish on metal products, and it is difficult to produce thin finishes using these coatings, which is likely to hamper the market growth.
Application Segment Drivers
Based on the application, consumer goods are anticipated to lead over the forecast period owing to the wide adoption across consumer goods such as small appliances, water heaters, electric ranges, and gas. Also, features like the absence of solvents, the exhibition of higher tangibility than conventional liquid coatings, and the following environmental regulations will further propel the market size. The growing demand for domestic appliances in India, Vietnam, China, Thailand, and the Philippines will raise the powder coatings market share.
Regional Drivers
On the basis of regional coverage, Asia-pacific is predicted to dominate the market over the forecast period. This is primarily attributed to the rapid growth of Asian countries such as India, Japan, and China. Moreover, the surging application in the automotive industry to apply the coating on chassis components, engine blocks, electrical components, springs/suspensions, etc. will drive the market growth.
Powder Coatings Market’s leading Manufacturers:
- Eisenmann
- Bayer AG
- Nippon Paint Holdings Co. Ltd.
- Axalta Coating Systems
- PPG Industries, Inc.
- FERRO ARTE DE MEXICO.
- DSM
- Kansai Paint Co., Ltd.
- Sherwin-Williams Company
- Akzo Nobel N.V.
Powder Coatings Market Segmentation:
Segmentation by Type:
- Polyester Based
- Polyurethane Based
- Epoxy Based
- Hybrid Power Coatings
- Others
Segmentation by Method:
- Electrostatic Spray
- Fluidized Bed
- Others
Segmentation by Application:
- Consumer Goods
- Automotive
- Building and Construction
- Furniture
- General Industries
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company’s large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird’s eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
