Powder Coatings Market by Resin Type (Thermoset, Thermoplastic), Coating Method (Electrostatic Spray, Fluidized Bed), End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture), and Region - Global Forecast to 2022
“Powder Coatings market to register a CAGR of 6.75% from 2017 to 2022”
The powder coatings market is projected to reach USD 13.49 billion by 2022, at a CAGR of 6.75% from 2017 to 2022. Stringent government regulations, growth in various end-use industries, and technological advancements are expected to drive the powder coatings market during the next five years. The major restraining factor for the powder coatings market is the difficulty in obtaining thin films.
“Thermoplastic is the major resin type driving the powder coatings market”
Thermoplastic powder coating is made up of thermoplastic resin, pigment, filler, plasticizer, and stabilizer. When heat is applied to the coating, it melts and flows. However, it continues to have the same chemical composition after it is cooled to a solid coating. The primary advantage of thermoplastic coatings is that they form a smoother finish and require less energy. They are commonly applied by fluidized bed application, and the parts are both preheated and post-heated.
Thermoplastic powder coatings have some weaknesses, such as high temperature of fusion, low pigmentation level, poor solvent resistance, and bad adhesion on metal surfaces. These problems inherent to the thermoplastic powder coatings were successfully overcome later on by the thermosetting powders which very quickly captured the largest share (>90 %) of the powder coatings market.
“Rising demand in South America is the major driver for the powder coatings market“
The powder coatings market in South America is characterized by very weak regulations, with manufacturers focusing on it to gain market share and improve profitability. A healthy GDP growth rate, owing to increasing middle-class population, and improving standards of living make this region a potential market for powder coatings.
Breakup of primary interviews:
By Company Type - Tier 1 – 42%, Tier 2 – 25%, and Tier 3 – 33%
By Designation - C level – 36%, D level – 19%, and Others – 45%
By Region - Europe – 38%, North America – 23%, Asia-Pacific – 15%, South America – 8%, Middle East – 8%, and Africa – 8%
The key companies profiled in this report are AkzoNobel N.V. (Netherlands), Asian Paints Limited (India), Axalta Coating Systems (U.S.), Berger Paints India Limited (India), Jotun A/S (Norway), Kansai Paint Co., Ltd. (Japan), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), and Somar Corporation (Japan).
The powder coatings market report covers different segmentations, which include market by resin type (thermoset, thermoplastic), by end-use industry (appliances, automotive, general industrial, architectural, furniture, and others) and by six different regions along with the countries in the respective regions. The resin type and end-use industry segments are further analyzed by each country for the respective regions.
Reasons to buy the Report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, value chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the powder coatings market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on powder coatings offered by the top players in the global powder coatings market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the powder coatings market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for powder coatings across regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global powder coatings market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global powder coatings market