Powder Coatings Market Analysis Report By Resin, By Application, By Region And Segment Forecasts From 2021 To 2028

Synopsis

The global powder coatings market was prized by USD 11.9 billion in 2020. It is estimated to witness a 7.2% CAGR from 2021 to 2028.

Drivers

The rising market of the Middle East & Africa and the Asia Pacific regions have observed solid enlargement in non-residential divisions. It comprises retail, IT, telecom, and consumer goods. It has given rise to the demand for powder coatings.

The rising number of consumer goods companies in Singapore, India, and China is estimated to increase the growth of the market, during the nearby future. Powder coatings contain plentiful advantages above the additional coatings, for example, consistent thickness, insignificant VOC release, lesser operating expenses, exceptional look, and instant availability. Besides, comparatively, they are simple to put on in solid layers of covering. This brings about a consistent and even look.

Growth in the manufacture of automobiles as well as the gush in the requirement for health check devices is estimated to be the most important factor, powering the expansion of the market for powder coatings in emergent nations like Mexico, China, Brazil, and India, during the forecast period.

Greater acceptance of the product, in the furniture sector due to its anti-bacterial & anti-corrosion properties, low down operational expenditures, availability of colors, and outstanding performance will, furthermore, fuel the expansion of the powder coatings market.

Powder coatings do not hold any sort of solvents. This causes the insignificant release of VOC in the environment and decreased threat in fire, at some stage in storage space and use. Also, the powder can be effortlessly rinsed off, whilst it comes in touch with a person’s skin, which decreases the fitness risk for the machinist

Restraints

Shortage, in addition to unpredictable prices of the raw materials, is anticipated to be the key feature, limiting enlargement of the market, since; they bring about elevated costs of the production, thus decreasing the profit.

On the other hand, greater demand for the product, due to its rising utilization in various industries, like furniture, automotive, and construction, is expected to propel the expansion of the market, during the near future.

Resin Insight

As a result of the useful possessions of polyester, like surface protection, temperature resistance, quick-drying, abrasion resistance, and chemical resistance, the polyester resin type section held a 28.11% share by quantity, in 2020.

Growth in demand for the product for the various purposes comprising, metallic structural components, bumpers, radiator grills, bicycles, wheel rims, and door handles, is expected to boost the expansion of the sector, during the forecast period.

Due to the belongings like the capability to withstand the climatic conditions, sturdiness, low down prices as a contrast to other types of coatings and suppleness, Epoxy-Polyester (Hybrid) resin category are expected to observe the highest CAGR, during the forecast period. These products are a combination of together epoxy resins with polyester and are primarily utilized for internal treatment, like coatings for the furniture.

Application Insight

In 2020, the consumer goods division held 23.69% general quantity share and led the global powder coating market. The division is estimated to observe, momentous expansion during the forecast period.

Speedy urban development, the increasing ability of purchase, and elevated level of comfort are the factors, anticipated to impel the consumer goods division, so increasing the demand for the product, during the forecast period.

Since these coatings meet the terms with ecological rules, do not have solvents, and show superior flexibility than usual liquid coatings, the application of powder coatings is the biggest in consumer goods. Moreover, the increasing demand for household appliances in Thailand, Vietnam, India, the Philippines, and China are anticipated to increase the demand for the product, during the near future.

The automotive application division is anticipated to observe the highest development, during the forecast period. The rising manufacture of the automobile in China, South Africa, Argentina, the U.S., Indonesia, Brazil, and Mexico, is projected to increase the demand for the product in automotive accessories. Besides, an increase in demand for the vehicles in budding markets of Malaysia, Brazil, India, South Africa, Mexico, and China, is estimated to impel the automobile trade, within these nations.

Regional Insight

In 2020, Asia Pacific held a 39.31% revenue share and it was the biggest market for powder coatings. The encouraging attitude towards the building construction industry of the various Asian nations like Indonesia, Malaysia, South Korea, India, Vietnam, Japan, and China, is projected to encourage the use of powder coatings.

Encouraging policies adopted by the government along with an intention to create funds from FDI as well as public-private joint ventures will, moreover, stimulate the enlargement of the powder coatings market, during the forecast period.

In terms of quantity, Europe was the subsequent biggest market, in 2020. Rising manufacture of automobiles in the U.K., Romania, Germany, Austria, and Hungary, by means of a solid foundation of the manufacturing companies, for example, Dodge, Daimler-Chrysler, Volkswagen AG, Mercedes-Benz, and Chevrolet, is estimated to propel the demand for the product.

Since, it is an established market for the end-user commodities, as well as abridged expenditure on consumer supplies, owing to the economic emergency of the European Union, the provincial market possibly will observe slothful enlargement, during the subsequently a small number of years.

Companies

Since the major companies of the powder coatings industry have jointly held a 40.0% share of the general business, the global market is disjointed. The manufacturing companies solidly provide funds for the research & development projects and depend upon technical improvement, to attain reasonable benefit by means of the differentiation of the product as well as a low down price tag. Besides, the companies are concentrating on incorporating their functions, by means of the supply and delivery network, to increase their contact with specific customers.

Some of the companies for the powder coatings market are:

    • Arkema S.A.
    • DSM
    • PPG Industries, Inc.
    • Akzo Nobel N.V
    • Bayer AG
    • Valspar
    • BASF SE
    • The Sherwin-Williams Company

Report Scope

Segments Covered in the Report

This report forecasts volume and revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Million Insights has segmented the global powder coatings market report on the basis of resin, application, and region:

• Resin Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2028)
    • Epoxy
    • Polyester
    • Epoxy-polyester (Hybrid)
    • Acrylic
    • Polyurethane
    • Others

• Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2028)
    • Consumer Goods
    • Architectural
    • Automotive
    • General Industries
    • Furniture
    • Others

• Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2016 - 2028)
    • North America
        • U.S
        • Canada
        • Mexico
    • Europe
        • Germany
        • U.K.
        • France
        • Italy
        • Russia & CIS countries
        • Benelux
        • Turkey
        • Spain
        • Switzerland
        • Sweden
        • Poland
        • Austria
        • Norway
        • Denmark
        • Finland
        • Portugal
        • Czech Republic (CZ)
        • Slovenia
    • The Asia Pacific
        • China
        • India
        • Japan
        • Thailand
    • Central and South America
        • Brazil
        • Argentina
    • Middle East and Africa
        • Saudi Arabia
        • South Africa