Powder Coating Market Trends Analysis Research Report (By Resin: Polyester, Epoxy, Epoxy-Polyester, Polyurethane, Acrylic;: Automotive, Consumer Goods, Architectural, Furniture, Oil and Gas, Pipeline) - Market Analysis, Segment Forecasts, Regional Outlook 2023 – 2030
Aug-2024 Formats | PDF | Category: Chemical and Material | Delivery: 24 to 72 Hours
Powder Coating Market Overview
“The global Powder Coating Market is expected to grow rapidly at a 5.42% CAGR consequently, it will grow from its existing size of from $15.95 billion in 2023 to $21.32 billion by 2030.”
For Insights Consultancy presents an extensive market analysis report titled “Powder Coating Market Report 2024″providing businesses with an edge in competition by providing a thorough analysis of market structures with estimates for various segmentations and segments.
The report also focuses new trends, major drivers, challenges, as well as opportunities. The report provides all necessary information needed to thrive in the Powder Coating industry. This report is about Powder Coating market research provides a complete analysis, which includes a comprehensive analysis of the current and future trends in the market.
Powder coating is a dry finishing technique that uses an electric charge to fuse a powder to a metal’s surface, resulting in a smooth, harder finish that is then cooked in a curing oven.
Powder coating, without a liquid carrier, produces thicker coatings without sagging or running, resulting in minimal visual differences between horizontal and vertical surfaces.
Powder coatings are created from polymer resin systems mixed with curatives, pigments, leveling agents, and other additives. They are melted, cooled, and milled into a homogeneous powder resembling baking flour. ESD is a process used to apply powder coating to metal substrates, where an electrostatic charge is applied to the powder particles, which are then attracted to the grounded side.
Powder coating is applied to parts by chemically reacting with heat in a curing oven. This results in long molecular chains with high cross-link density, making them difficult to break down. This method is commonly used for non-metallic substrates like plastics and medium density fiberboard (MDF).
Powder coatings are used in fluidized bed applications, where preheated components are dipped in a fluidizing powder hopper. The coating melts and flows onto the part, with post-curing possible depending on the item’s mass, temperature, and powder type. Powder coatings are simple, environmentally friendly, cost-effective, and durable.
Technological advancements in fluoropolymer powders and polyester-TGIC have led to the development of innovative powder coatings with fading resistance, durability, and weatherability, comparable to liquid architectural coatings, commonly used in outdoor stadium seating, window frames, modular furniture, guard rails, light poles, and plumbing fixtures.
High construction investment is expected to boost the powder coatings industry, which is widely used in architecture due to its durability and variety of finishes and colors. The global low temperature powder coatings business is predicted to exceed USD 157.65 million by 2030.
Key Takeaway:
In 2022, the polyester resin segment will account for more than 30% of total sales.
In 2022, the consumer goods segment will have a revenue share of roughly 28.6%.
With a revenue share of more than 40.5% in 2022, Asia Pacific has led the market.
Powder Coating Market Dynamics
Growth Factors
The powder coatings industry is experiencing growth and change due to the need for sustainable solutions and progress in manufacturing and construction sectors. Coating formulators and suppliers are developing revolutionary powder coating technologies that can be produced and applied more skillfully, exhibit improved performance traits, and have a wider variety of potential end uses. These technologies address manufacturing productivity and cost issues, such as the evolution of small-scale process systems.
The global powder coatings market is growing due to factors like increased consumer spending, rising per capita income, changing customer preferences, and technological advancements. High usage rates in liquid forms affect product application possibilities. Infrastructure development drives demand, while overspray and proficiency are key drivers of market economics.
The COVID-19 pandemic has significantly impacted the production of raw materials for coatings and paints, particularly in major Asian economies like Japan, India, China, Thailand, and Singapore, causing a significant decrease in supply.
Growth Drivers
- Spending on building is rising
- Demand in the automotive, aerospace, and marine industries is rising
- Reduce VOC emissions as a priority
- positive future for the furniture sector
- less expensive to apply than liquid coatings
Powder Coating Market Trends 2024
Powder coatings market participants prioritize cost, quality, environmental friendliness, quick paint application, and ease of use. Manufacturers increase their visibility by online catalogs and marketplace sales, investing in capacity development and hiring industry specialists. They also establish personal customer relationships for continued retail sales. To gain a competitive edge, they expand their product line and establish supply chain agreements. These strategies aim to maintain customer relationships and maintain market dominance.
Restraints
The high cost of equipment and instruments for powder coating applications, including specialized electrostatic spray apparatus, may hinder industry growth. Technological advancements have improved the application of powder coatings, but the cost of modern equipment remains higher.
Powder Coating Market Segment Analysis
Application Insights
Powdered enamels are a cost-effective and environmentally friendly industrial coating technology used in various industries like consumer products, home appliances, furniture, and machinery. Sales of powder coatings are increasing due to new applications. The furniture and appliances segment is expected to grow at a steady rate, while new markets like IT and telecom are also expected to offer lucrative growth. This study highlights the potential for powder coatings to continue expanding in various industries.
Powder coatings are gaining new opportunities due to the development of powder-on-powder application, which combines primer and topcoat application in one curing phase. This technology is now widely available in cutting-edge applications, such as MDF, wood, and plastic, due to lower baking temperatures. Improvements in process control and application equipment, like dry-on-dry systems, further encourage this trend.
Resin Type Insights
In 2022, polyester resin dominated the market due to its chemical resistance, quick drying, temperature resistance, surface protection, and abrasion resistance. The market is expected to expand due to increased demand for products in radiator grills, door handles, bumpers, wheel rims, and metallic structural components in the coming years.
Powder Coating Market
- Epoxy-Polyester
- Epoxy
- Acrylic
- Polyester
- Polyurethane
- Others
Powder Coating Market
- Automotive
- Consumer Goods
- Architectural
- Furniture
- Oil and Gas
- Pipeline
- Others
Competitive Landscape of the Powder Coating Market
- Eastman Chemical Company
- PPG Industries, Inc.
- Akzo Nobel NV
- Evonik Industries AG
- Nippon Paint Co., Ltd.
- Axalta Coating Systems
- The Sherwin-Williams Company
- Arkema Group
- The Valspar Corporation
Recent Developments in the Powder Coating Market
Growing stipulation to augment the outdoor and indoor air quality taking into account the health effects of VOC’s, moving producers emphasis on plummeting VOC content. Nominal VOC emissions, than liquid paints would deliver robust business prospect for industry participants as they can obey economically and easily with the guidelines of U.S. environmental protection agency.
August 2022: PPG will be investing USD 11 million to double the manufacturing capacity of its powder coatings factory in San Juan del Rio, Mexico. By mid-2023, the expansion project is anticipated to finish, enabling the factory to provide Mexico’s estimated demand for powder coatings.
May 2022: AkzoNobel Powder Coatings developed a range of ready-to-ship (RTS) powder coatings, mainly for the North American market. The new range includes AkzoNobel’s powder coatings brands, Resicoat and Interpon, and is suited to serve urgent coatings projects.
April 2022: PPG Industries acquired the powder coatings business of Arsonsisi, an industrial coatings company based in Milan, Italy. The acquisition will offer PPG a highly automated powder production factory in Italy, capable of producing small and big batches.
Regional Insights
In 2022, Asia Pacific became the largest powder coating market globally, driven by positive views from countries like South Korea, India, China, Japan, Malaysia, Indonesia, and Vietnam, and government policies promoting FDI and public-private investment partnerships. The automotive industry is expected to grow rapidly in Asia Pacific due to improved transportation infrastructure, rising disposable income, and changing lifestyles. Green coatings engineering companies and research organizations have significantly contributed to the development of eco-friendly powder coatings.
The US and China are increasingly using powder in various industrial sectors, including architecture and commercial vehicles, as the application proficiency and powder technology advance. This trend is also gaining traction on using powder on substrates other than typical ones.
Frequently Asked Questions:
What is the current size of global powder coating market?
The global powder coating market size was accounted at USD 15.95 billion in 2023 and it is expected to rake around USD 21.32 billion by 2030.
How much is the CAGR of powder coating market?
The global powder coating market is expected to grow at a CAGR of 5.42% during the forecast period 2023 to 2030.
Which segment accounted for the largest powder coating market share?
How much polyester resin type occupied more than 40% of the revenue share in 2019.
What is the CAGR of Asia Pacific powder coating market?
Globally, Asia Pacific emerged as largest market for powder coating industry and gathered more than 33% of the market chunk in 2019.
Who are the top key players of powder coating market?
Numerous players operating in this sector comprise Asian Paints, BASF, Kansai Paints, Axalta Coating System, Nippon Paint Co., Ltd., PPG Industries, AkzoNobel N.V., The Sherwin-Williams Company, RPM International, and Dulux Powder & Industrial Coating.
Key Benefits to Stakeholders:
- This study offers a quantitative examination of Powder Coating Market trends, estimations, and dynamics from 2023-2030 to identify potential opportunities in this space.
- Porter’s five forces study emphasizes the value of buyers and suppliers in helping stakeholders to make profitable business decisions while expanding their network.
- Undergoing in-depth analyses on market size and segmentation is vital in identifying current Powder Coating Market opportunities.
- Each region’s largest countries are mapped according to their revenue contribution for an accurate picture of this global industry.
- The Powder Coating Market research report offers a thorough examination of its major players. As such, purchasing this report provides many advantages to any organization looking to enter this competitive industry.
Reasons to Purchase Powder Coating Market Report:
- Current and Future Prospects of Powder Coating Market in both developed and emerging markets.
- Porter’s Five Force Analysis to help analyze various perspectives within this market. Major regions should experience rapid increases during this time.
- Uncover the most up-to-date industry developments, Powder Coating Market shares, and top market players’ strategies.
Research Methodology:
To estimate and validate the size of the Powder Coating Market as well as several of its dependent submarkets in its entirety, both top-down and bottom-up methodologies were used. Secondary research identified key players within the market while primary sources and verified primary sources provided an accurate picture of all percentage share breakdowns and splits within this global industry.
Table of Contents
- Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
- Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
- Executive Summary
3.1. Market Snapshot
- Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
- Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
- Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
- Global Powder Coating Market
7.1. Powder Coating Market
7.1.1. Epoxy-Polyester
7.1.1.1. Market Revenue and Forecast
7.1.2. Epoxy
7.1.2.1. Market Revenue and Forecast
7.1.3. Acrylic
7.1.3.1. Market Revenue and Forecast
7.1.4. Polyurethane
7.1.4.1. Market Revenue and Forecast
7.1.5. Polyester
7.1.5.1. Market Revenue and Forecast
7.1.6. Others
7.1.6.1. Market Revenue and Forecast
- Global Powder Coating Market
8.1. Powder Coating Market
8.1.1. Automotive
8.1.1.1. Market Revenue and Forecast
8.1.2. Consumer Goods
8.1.2.1. Market Revenue and Forecast
8.1.3. Architectural
8.1.3.1. Market Revenue and Forecast
8.1.4. Furniture
8.1.4.1. Market Revenue and Forecast
8.1.5. Oil and Gas
8.1.5.1. Market Revenue and Forecast
8.1.6. Pipeline
8.1.6.1. Market Revenue and Forecast
8.1.7. Others
8.1.7.1. Market Revenue and Forecast
- Global Powder Coating Market
Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast
9.1.2. Market Revenue and Forecast
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast
9.1.3.2. Market Revenue and Forecast
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast
9.1.4.2. Market Revenue and Forecast
9.2. Europe
9.2.1. Market Revenue and Forecast
9.2.2. Market Revenue and Forecast
9.2.3. UK
9.2.3.1. Market Revenue and Forecast
9.2.3.2. Market Revenue and Forecast
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast
9.2.4.2. Market Revenue and Forecast
9.2.5. France
9.2.5.1. Market Revenue and Forecast
9.2.5.2. Market Revenue and Forecast
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast
9.2.6.2. Market Revenue and Forecast
9.3. APAC
9.3.1. Market Revenue and Forecast
9.3.2. Market Revenue and Forecast
9.3.3. India
9.3.3.1. Market Revenue and Forecast
9.3.3.2. Market Revenue and Forecast
9.3.4. China
9.3.4.1. Market Revenue and Forecast
9.3.4.2. Market Revenue and Forecast
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast
9.3.5.2. Market Revenue and Forecast
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast
9.3.6.2. Market Revenue and Forecast
9.4. MEA
9.4.1. Market Revenue and Forecast
9.4.2. Market Revenue and Forecast
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast
9.4.3.2. Market Revenue and Forecast
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast
9.4.4.2. Market Revenue and Forecast
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast
9.4.5.2. Market Revenue and Forecast
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast
9.4.6.2. Market Revenue and Forecast
9.5. Latin America
9.5.1. Market Revenue and Forecast
9.5.2. Market Revenue and Forecast
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast
9.5.3.2. Market Revenue and Forecast
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast
9.5.4.2. Market Revenue and Forecast
- Company Profiles
10.1. Axalta Coating Systems
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. The Sherwin-Williams Company
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Arkema Group
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Eastman Chemical Company
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. The Valspar Corporation
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. PPG Industries Inc.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Akzo Nobel NV
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Evonik Industries AG
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Nippon Paint Co. Ltd.
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
- Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
- Appendix
12.1. About Us
12.2. Glossary of Terms
Select PDF License
Single User: $3499
Multiple Users: $4499
Corporate Users: $5499
[…] purposes of this analysis are: To characterize, portray, and check the Global Powder Coating Market based on product type, application, and region. To estimate and inspect the size of the […]