Global Powder Coatings Market - Segmented by Resin Type and End-user Industry - Growth, Trends, and Forecast (2018 - 2023)
The global powder coatings market is expected to witness a moderate CAGR during the forecast period, 2018 to 2023. The oil & gas industry accounted for the highest share, followed by water & wastewater treatment industry, in 2017. The growing infrastructure and rapid industrialization, in the developing economies, is expected to boost the growth during the forecast period.
The powder coatings are based on polymer resin systems; combined with curatives, pigments, leveling agents, flow modifiers, and other additives. These ingredients are melted, 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.
Accelerating Automotive Production in Asia-Pacific and Europe
The global automotive production has increased from 90 billion units in 2015 to about 95 billion units in 2016, with maximum production occurring in Asia-Pacific and Europe. The automotive industry is growing at a rapid pace in the Asia-Pacific region. China, India and Indonesia are some of the major countries involved in the production of cars & commercial vehicles. In Europe, France, Czech Republic, Italy, Spain, and Sweden, have seen good growth in the automotive production, which, in turn, is likely to increase the consumption of powder coatings. The accelerating automotive production, coupled with the growing OEM market is expected to drive the usage of powder coatings during the forecast period.
Architectural & Decorative to Witness the Fastest Growth
The powder coating is increasingly becoming an attractive choice for builders and architects around the world, owing to stringent verification processes by the government for VOC emissions. Furthermore, powder coatings are formulated with specifications, which helps to provide long-term appearance and corrosion resistivity. The growing construction market is expected to drive the demand for powder coatings in the architectural & decorative segment during the forecast period.
Key Developments in the Market
June 2017: Hempel established a new R&D facility solely focused on passive fire protection (PFP) coatings near Barcelona, Spain. The center is likely to be fully functional by the end of 2018.
January 2017: PPG completed the acquisition of DEUTEK SA, a leading Romanian paint and architectural coatings manufacturer, from the Emerging Europe Accession Fund.
Major Players: Akzonobel N.V., Sherwin Williams, PPG Industries, Nippon Paint Holdings, Axalta, RPM International , among others.
Reasons to Purchase this Report
Current and future global powder coatings market in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel).
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, to ensure you get a report that suits your needs.
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.