Adroit Market Research launched a study titled, “Global Powder Coating Market Size 2017 By Application (Consumer Goods, Architectural, Automotive, General industries, Furniture and Others), By Region and Forecast 2018 to 2025”. The study covers the global powder coating market value for a period ranging in between 2015 to 2025, where 2015 to 2017 imply the historical value with forecast between 2018 and 2025. The global powder coating market report also includes qualitative insights of the market such as value chain, restrains and drivers.
The global powder coating market size is expected to reach USD 14.70 billion by 2025. As a result of its use in wide range of applications and lower environmental impact. Other valuable benefits such as long lasting life, high durability, cost effectiveness and quality finishing are driving the market for powder coating over traditional liquid paints.
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Metal is the major product on which powder coating is used to increase its life and protect it from corrosion. The demand for metal powder coatings is rising in many industries including automotive, furniture, construction, consumer goods and home appliances. These industries are witnessing a considerable gains in annual demand for powder coating driven by rise in sales in emerging economies in Asia Pacific.
Participating companies are focusing on opening new plants and investing in research and development to come up with new products as the demand for the powder coating volume is high. The competition among established players is also getting intense, with new facilities coming online across the world. For instance, in June 2018, Akzo Nobel N.V started its production of powder coating at Changzhou National Hi-Tech District (CND), China facility. The company has invested around 40 million Euros for this facility and designed for an annual capacity output of 46,000 tons.
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Asia Pacific dominated the global powder coating market value share by occupying 43.6% in 2017. China, India and South East Asian countries have emerged as industrial hubs over the past two decades and consume large volumes of powder coatings in various manufacturing sectors. In February 2018, AkzoNobel inaugurated powder coating manufacturing plant in Bangalore, India with investment of USD 10 million (9 million Euros).
Fluctuations in currencies and rise in oil prices are directly affecting the paints & coating industry. Thus, increasing the cost for base materials such as epoxy resin and titanium dioxide that are used for the production of powder coatings. As a result of which the production of powder coating is hampered and restraining it from growing further.
The global powder coating industry is fragmented as of 2017. As a strategic step major players are collaborating or acquiring domestic players to expand their presence globally. Moreover, the companies are launching new products to sustain in the market. For instance, In November 2018, Polychem powder coatings launched ten new shades of powder coating collection that include special effects and range of textures. Moreover, in January 2017, a new product Axalta launched Alesta Lync, it is a dry on dry powder coating application with excellent edge corrosion safety, energy efficient process and the capacity to offer two layers of paint with only one cure cycle.
The top players in the global powder coating industry are PPG Industries, Nippon Paint, Sherwin-Williams, AkzoNobel, Jotun, Axalta Coating Systems, Asian Paints, BASF Coatings, Kansai Paint and Valspar.
Key segments of the global powder coating market
Application Overview, 2015-2025 (USD million) (Kilo tons)
- Consumer Goods
- Architectural
- Automotive
- General industries
- Furniture
- Others
Regional Overview, 2015-2025 (USD million) (Kilo tons)
- North America
- US
- Canada
- Europe
- Germany
- United Kingdom
- Asia Pacific
- China
- India
- Japan
- Rest of the World
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Global powder coating market size was valued US$ 10.31 and is estimated to reach US$ 16.22 at CAGR of about 5.83 % during a forecast period.
Advantages of powder coatings over wet paint systems such as predefined film thickness and easy rework of poorly coated areas are factors driving market demand over a forecast period.
Powder coating is conservative, durable, quality membrane, perfect toughness, and scratch resistance, shine retention, waterproof and impermeable to chalking.
Out of thermoset sub-segments Polyester and polyurethane comprises large share.
Electrostatic spray is the most employed coating technique as it allows coating of complex shapes and does not require preheating of part to be coated.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology.
Market particularise in showing high-end research by cognizance of the major trends, key players, and several other aspects of the industry.
The report answers all questions related to the key federation.
The report offers an encyclopedic study of Powder Coating market analysis and insights.
The report explains the value chain structure, industrial outlook, regional analysis, applications, market size, share, and forecast.
It also provides an analysis of the market based on types, applications, regional analysis, and for the forecast period from 2021 to 2030.
It also covers significant components, such as market capacity, cost, price, demand and supply, production, profit, and competitive landscape.The market competition is assessed by top manufacturers, with production, price, revenue (value), and market share for each manufacturer.
The global Powder Coating Market is expected to grow at a healthy CAGR of over 7 % over the forecast period (from 2016 to 2024).
Steady raw materials supply is said to result in a stable price trend during the next few years.
The global market is categorized as applications and regions.Browse Details of Report @ https://www.hexaresearch.com/research-report/powder-coatings-industry The application sector includes architecture, automotive, industrial, consumer goods, and furniture.
This is mainly because coatings provide a supple, consistent finish that resists cracking and/or peeling.
Shelving systems, outdoor metal furniture, metal cabinets etc.
are several other lucrative applications with a revenue forecast of over USD 3 billion by 2024.
