Powder Coating Market Overview
Powder Coatings offers excellent properties such as high durability, impact resistance, UV rays &, moisture protection and chemical resistance. Owing to which, Powder Coatings are widely used across industries including Automotive & Transportation, Architectural & Furniture, Appliances, and Consumer Goods etc. to name a few. These industries are constantly confronted to the various chemicals and heating conditions etc.
Attributing to the growing demand from burgeoning automotive industry, the Powder Coatings Market is ascended to the heightened level. This demand is constantly rising and is expected to further convert the market in to a vastly expanded place in the years to come.
Accrediting the kind of traction the Powder Coatings Market is garnering currently and the growth prospect the market is demonstrating currently, the Market Research Future has recently published a meticulous study report. In which MRFR asserts that the Global Powder Coating Market is booming and expected to gain further prominence during the forecast period; the market is projected to perceive exponential accruals by 2023 with a striking CAGR during 2017 to 2023.
Powdet Coating Market Key Players Analysis
PPG Industries, Inc. (US), The Valspar Corporation (US), Akzo Nobel N.V. (the Netherlands), Asian Paints Limited (India), Kansai Paint Co.LTD (India), Royal DSM (the Netherlands), Arkema (France), Evonik Industries (Germany), TCI Powder (US), and The Sherwin-Williams Company (US). With their sedulous work these fervent players are constantly bringing up novelties in Powder Coating. Acknowledging their contribution, MRFR has profiled them in their Analysis.
Some of the important market driving factors and trends identified in the Powder Coatings Market include rapid urbanization, increasing demand for solvent free coatings, and continuous growth of automotive industry. Moreover, high consumption of powder coatings coupled with shifting trend for replacement of conventional solvent based coatings in various end use industries is expected to fuel the growth of the market.
Rapid industrialization along with rising consumer disposable income is also expected to drive the growth of the market over the forecast period, 2017 to 2023. Increasing usage of Powder Coatings in the manufacturing of various electronics & electrical parts is predicted to drive the demand for powder coatings over the assessment period.
On the other hand, high energy consumption is estimated to hinder the growth of the market over the assessment period. However, rising concerns towards mitigation of the ill effects of volatile organic compound (VOC) coupled with stringent regulations imposed by various government bodies is estimated to propel the demand for powder coatings.
Powder Coating Market Competitive Analysis
Characterized by the presence of several major well-established and small-scale players, the global market of Powder Coating appears to be highly fragmented and competitive. Though the large companies have a great geographical presence, the entry of several new companies will pose a stiff competition to them.
Emphasising upon new product development initiatives, and geographical expansion; Marketers compete based upon price and brand reinforcement. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. These key players strive to develop a wide range of diverse products each intended for a particular purpose.
Industry/Innovation/Related News
April 03, 2017 – Kansai Paint Co., Ltd. (India) global provider of Powder Coatings announced that the company has acquired all shares of European coating manufacturer Helios Group, with the closing of transaction on 31 March. Under the strategic owner Kansai, Helios will represent a strong European center of innovation, know-how and business development, and will further grow its importance in European coating industry. With the acquisition of Helios Group, Kansai Paint accelerates its growth strategy to become one of top three paint producers in the world. Before the acquisition of Helios, Kansai already had a strong presence in Asia, Africa and Middle East, but very limited in Europe.
June 20, 2017 – AkzoNobel Powder Coatings (US) introduced its Interpon Android app (Powder Coatings Purchasing App) that—along with its iOS app—allows customers to buy powder coatings directly from most mobile devices including phones, tablets and computers.
August 14, 2017 – Axalta Coating Systems announced that it has acquired Plascoat Systems Limited, a leading supplier of thermoplastic powder coatings, from its parent company; International Process Technologies (IPT) Ltd. Financial terms of the transaction were not disclosed.
Powder Coating Market Segmentation
The Powder Coating Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Resin Type: Comprises Thermoplastic {(Nylon, Polyolefin, Polyvinyl Fluoride (PVF), and Polyvinyl Chloride (PVC)} and Thermoset (Polyester, Epoxy, Acrylic, Polyurethane, Epoxy Polyester) and other.
Segmentation by Application: Comprises Automotive & Transportation, Architectural & Furniture, Appliances, Consumer Goods, and others.
Segmentation By Substrate: Comprises Metal and Non-Metal.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Powder Coating Market Regional Analysis
The Global Powder Coatings Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Asia Pacific region is predicted to grow with a highest CAGR during the estimated period, 2017 to 2023 on account of stable economy and continuous growth of automotive & transportation industry.
The demand for Powder Coatings is expected to propel in the numerous countries of Asia Pacific such as China, India, Vietnam, Thailand, Singapore, South Korea, and Japan due to high adoption rate by the automobile manufacturers and implementation of strict regulation regarding VOC emission rate.
Furthermore, increasing automotive production and sales as well as rising demand for household appliances in emerging economies along with growing disposable income of consumer is predicted to fuel the growth of the market. Economic development in Asia Pacific, particularly Vietnam, China, India, Bangladesh, has presented opportunities for Powder Coating in the transportation sector
Intended Audience
- Powder coatings manufacturers
- Traders and distributors of powder coatings
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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