Global Powder Coatings Market - Segmented By Application Type, Resin Type, and Geography – Growth, Trends and Forecasts (2017 - 2022)
The market is expected to be valued at USD XX million in 2017. This market is projected to reach USD XX million by 2022, registering a CAGR of XX% during 2017-2022 (henceforth, referred to as the forecast period). Powder coatings are based on polymer resin systems, combined with curatives, pigments, leveling agents, flow modifiers, and other additives. These ingredients are melt mixed, cooled, and ground into a uniform powder, similar to baking flour. The powder offers benefits, such as superior durability, scratch resistance, gloss retention, and resistance to chalking. The powder is mainly used for applications on metal parts that are exposed to extreme weather conditions. Powder coatings are cost-efficient as they do not contain solvents and Volatile Organic Compounds (VOCs). In addition, over-sprayed powder coating can be retrieved and recycled for use, thereby reducing the cost. Major factors that are driving the market’s growth are the increasing usage of powder coatings in the automotive industry, across applications, such as door handles, rims, and under-the-hood components; and growing demand for consumer goods in Asia-Pacific, including washing machines, freezer cabinets, and microwave ovens. On the flipside, shortage of raw materials has resulted in higher prices and reduced profitability for manufacturers, thereby hindering the market’s growth. The market has been segmented on the basis of resin type, technology, and end-user industry. By resin type, the market has been further segmented into thermosetting plastic and thermoplastic sub-segments. In 2016, the thermosetting sub-segment dominated the market with a market share of XX%, as they are widely used in decorative and functional applications, and are more heat-stable compared to thermoplastics. By end-user industry, the market has been segmented into consumer goods, architectural, automotive, general industry, furniture, marine industry, etc. In 2017, the automotive industry is expected to dominate the powder coatings market during the forecast period, owing to factors, such as growing population, increasing disposable incomes, and rampant growth of the automotive industry The market has also been segmented on the basis of geography into Asia-Pacific, North America, Europe, South America, and Middle East and Africa. In 2016, the Asia-Pacific region dominated the market with a market share of XX%, owing to consistent growth of the electronic, consumer goods, and automotive industries in China, Thailand, India, Vietnam, and South Korea. The following sample chart shows the regional share of the global powder coatings market for 2017. Opportunities and Major Players A shift in consumer preference to eco-friendly powder coatings is expected to offer new opportunities for the growth of the global powder coatings market. Major companies dominating this market for their products, services, and continuous product development, include: AkzoNobel Axalta Coating Systems PPG Industries Sherwin-Williams Key Deliverables in the Study Market analysis for the global powder coatings market, with region-specific assessments and competition analysis on a global and regional scale. Market definition, along with the identification of factors instrumental in changing the market scenario and prospective opportunities. An extensively researched competitive landscape section, with profiles of major companies along with their market share. Identification and analysis of the macro and micro factors that affect the global powder coatings market on the global and regional scales. A comprehensive list of key market players, with the analysis of their current strategic interests and key financial information. Insights on the major countries/regions where the powder coatings industry is growing and identify the regions that are still untapped.