Market Overview, Global Powder Coatings Market is projected to register healthy growth during the forecast period, 2019–2025. The market was valued at USD 11,256.3 Million in 2018 and is projected to register a CAGR of 6.38% to reach USD 17,544.5 Million by the end of 2025. Powder coating is a dry finishing process, using finely ground particles of pigment and resin that are electrostatically charged and sprayed onto electrically grounded parts. It signifies over 15% of the total industrial finishing market as powder coating is used across a wide array of products. Powder coatings are based on the polymer resin systems, which is a combination of pigments, curatives, flow modifiers, leveling agents, additives, and others. These ingredients are melted, mixed, cooled, and grounded into a uniform powder-like baking flour. A process called electrostatic spray deposition (ESD) is typically used to achieve the application of the powder coating onto the metal substrate. Powder-coated products are highly resistant to diminished coating quality, which helps to reduce scratches, abrasions, chipping, fading, corrosion, and other wear issues. Owing to these factors, the powder coating market is expected to propel significantly during the forecast period. , Market Dynamics, The increasing demand for powder coatings in the end-use industries, including consumer goods & appliances, automotive, aerospace, electronics, construction, and furniture, is the primary factor projected to boost the growth of the global powder coatings market. The growth of the market is driven by the increasing application of powder coatings in the consumer goods and automotive industries due to their anti-corrosive and high abrasion property, which helps to protect metallic and non-metallic substrates. Furthermore, the growing adoption of

Market Overview

Global Powder Coatings Market is projected to register healthy growth during the forecast period, 2019–2025. The market was valued at USD 11,256.3 Million in 2018 and is projected to register a CAGR of 6.38% to reach USD 17,544.5 Million by the end of 2025. Powder coating is a dry finishing process, using finely ground particles of pigment and resin that are electrostatically charged and sprayed onto electrically grounded parts. It signifies over 15% of the total industrial finishing market as powder coating is used across a wide array of products. Powder coatings are based on the polymer resin systems, which is a combination of pigments, curatives, flow modifiers, leveling agents, additives, and others. These ingredients are melted, mixed, cooled, and grounded into a uniform powder-like baking flour. A process called electrostatic spray deposition (ESD) is typically used to achieve the application of the powder coating onto the metal substrate. Powder-coated products are highly resistant to diminished coating quality, which helps to reduce scratches, abrasions, chipping, fading, corrosion, and other wear issues. Owing to these factors, the powder coating market is expected to propel significantly during the forecast period.

Market Dynamics

The increasing demand for powder coatings in the end-use industries, including consumer goods & appliances, automotive, aerospace, electronics, construction, and furniture, is the primary factor projected to boost the growth of the global powder coatings market. The growth of the market is driven by the increasing application of powder coatings in the consumer goods and automotive industries due to their anti-corrosive and high abrasion property, which helps to protect metallic and non-metallic substrates. Furthermore, the growing adoption of low-VOC and solvent-free coatings by the end users is likely to create growth opportunities for the market players during the forecast period. However, the high manufacturing cost due to its energy-intensive manufacturing process and complicated process of forming thin films with powder coatings are likely to hamper the global market growth as companies are investing in R&D to explore better alternatives that could ensure better profit margins. However, the rapidly growing automotive and electronics industries in various countries across Asia-Pacific, such as China, Japan, India, and Singapore, is likely to boost the demand for powder coatings and create lucrative opportunities for the manufacturers operating in the global market.

Global Powder Coatings Market, By Coating Method, (USD Million)



Sources: MRFR Analysis

Segmentation

Global Powder Coatings Market has been segmented By Substrate, Resin Type, Coating Method, Application, and Region.

Based on substrate, the global powder coatings market is segmented into metal and non-metal. Metal has the largest share in the substrate segment. Metals are used for manufacturing automotive parts to the production of a wide range of construction equipment and in several applications in the consumer goods industry. The metal segment valued at around USD 10,500 million in 2018, which is expected to register a CAGR of around 6.5% during the forecast period, 2019 to 2025.

According to the resin type, the powder coatings market has been segmented in thermoset and thermoplastic. The thermoset segment dominated the global powder coatings market with a share of over 85% by value in 2018 due to the growing usage by powder coatings manufacturers owing to their superior properties over thermoplastics, which also helps the producers to build solvent-free and low-VOC solutions.

According to the coating method, the global market has been divided into electrostatic spray coating, fluidized bed coating, electrostatic fluidized bed process, and flame spraying. The electrostatic spray coating segment accounted for the largest share of over 50% in 2018 as it is one of the majorly used manufacturing processes due to low cost and maintenance. The segment was valued at around USD 6,000 million in 2018; it is expected to register a CAGR of over 6.5% during the forecast period.

Based on application, the global powder coatings market has been classified into consumer goods & appliances, automotive & transportation, architecture & furniture, construction equipment, and others. The consumer goods & appliances segment dominated the global powder coatings market with a share of over 35% by value in 2018 due to their growing consumption in the developing regions of Asia Pacific, Latin America, and the Middle East.

Global Powder Coatings Market Share, By Region, 2018 (%)



Sources: MRFR Analysis

Regional Analysis

Global Powder Coatings Market has been divided based on region into Asia-Pacific, Europe, North America, Latin America, and the Middle East & Africa.

The market in Asia-Pacific held the largest market share in 2018 and is projected to exhibit a healthy CAGR of around 7.0% during the forecast period. However, the market in the Middle East & Africa is expected to register the second-highest CAGR of over 6.5%, which is mainly due to the rapidly growing automotive and construction industry in this regional market.

The market in Asia-Pacific held the largest market share of over 50.0% in 2018 and is projected to exhibit a healthy CAGR during the forecast period. This is mainly attributed to the increasing sale and production of passenger and commercial vehicles in the region. The local governments in major economies, namely China, India, and Indonesia, have forced manufacturers to adopt the powder coatings process for a lightweight body, which enhances fuel efficiency and lowers emission.

Key Players

Axalta Coating Systems Ltd (US), PPG Industries, Inc. (US), The Sherwin-Williams Company (US), Akzo Nobel N.V. (Netherlands), Nippon Paint Holdings Co., Ltd (Japan), TCI Powder (US), DSM (Netherlands), BASF SE (Germany), Jotun (Norway), Asian Paints PPG Pvt. Limited (India), Kansai Paint Co., Ltd (Japan), and Berger Paints India Limited (India) are a few of the Key Players operating in the global market.

Global Powder Coating Market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive, with all the players competing to gain maximum market share. Rapid advancements in processes, frequent changes in government regulations, and growing application of powder coating in end-use industries are the key factors that confront the global market growth. The vendors compete based on cost, product quality, availability, and reliability of the products. The vendors must provide cost-effective and high-quality powder coating to compete in the market. The competitive scenario is fragmented between the tier-1 and tier-2 companies.

Some of the Key Developments are



In November 2019 , Axalta announced the acquisition of Capital Paints LLC, a thermosetting powder coatings manufacturer based in the UAE, to serve the emerging markets in the Middle East. This acquisition helped create significant growth opportunities for the company to expand its business globally.





In October 2019 , Sherwin-Williams launched a powder coating under the brand name, Powdura 4000 Anodite, for applications in architectural building products such as windows, doors, stairwells, handrails, wall panels, benches, and lighting.





In May 2019 , PPG introduced its PPG ENVIROCRON Extreme Protection Edge coatings, which is an advanced powder coatings technology that offers edge corrosion protection in one coat.



Market Segmentation

Global Powder Coatings Market, by Substrate



Metal



Non-Metal



Global Powder Coatings Market, by Resin Type



Thermoset



Epoxy Polyester Hybrid

Polyester, Epoxy

Polyurethane, Acrylic

Others







Thermoplastic



Polyvinyl Chloride (PVC)

Nylon

Polyolefin

Polyvinyl Fluoride (PVF)









Global Powder Coatings Market, by Coating Method



Electrostatic Spray Coating



Fluidized Bed Coating



Electrostatic Fluidized Bed Process



Flame Spraying



Global Powder Coatings Market, by Application



Consumer Goods & Appliances



Automotive & Transportation



Architecture & Furniture



Construction Equipment



Others



Global Powder Coatings Market, by Region



North America



US

Canada











Europe



Germany

UK

Russia

France

Spain

Italy

Belgium

Netherlands

CIS

Rest of Europe











Asia-Pacific



China

Japan

India

South Korea

Indonesia

Thailand

Australia & New Zealand

Rest of Asia-Pacific











Latin America



Brazil

Mexico

Argentina

Rest of Latin America











Middle East & Africa



Turkey

Saudi Arabia

UAE

Rest of the Middle East & Africa









Available Additional Customizations



Company Profiles of Other Key Players



Regulatory Framework of General Chemicals



Raw Material Pricing Analysis



Pricing Analysis



Intended Audience



Powder Coatings Manufacturers



Suppliers and Traders



Government, Associations, and Industrial Bodies



Investors and Trade experts



Consulting in Powder Coatings Experts



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