Global Powder Coatings Market Size, Share & Trends Analysis Report 2020-2026
According to Facts & Factors, the global powder coatings market size in terms of revenue was worth around USD 14.76 billion in 2019 and is expected to reach USD 22.72 billion by 2026, growing at a CAGR of 6.3% from 2020 to 2026. The global powder coatings market is projected to grow at a significant growth rate due to a number of driving factors.
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The powder coating is first applied in the form of a dry power, then electrostatically, and finally cured through heat. There is a possibility that it is a thermoset or a thermoplastic polymer. Powder coating is a type of coating that is typically used for coating metals, including aluminium extrusions, household appliances, automobiles, bicycle parts, drum hardware, and motorcycles, among other things. It offers benefits such as resistance to scratching, superior longevity, resistance to chalking, and preservation of gloss. It is put to use for applications on metal parts that are subjected to extreme weather conditions. It functions in a way that is both kind to the natural world and compliant with the standards set by the AAMA. Because it does not contain volatile organic compounds or solvents, powder coating is more cost-effective than other coating options. In addition, the powder coating that was overspray can be recovered for use and recycling, which brings the cost of the project down.
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The increasing sales of powder coatings can be attributed to a number of factors, including the development of new technologies and an increase in demand from a variety of industries and applications, such as the automotive, architectural, agricultural, furniture, construction, and earthmoving equipment industries. In addition, stringent environmental policies are fueling the growth of the global powder coatings market because powder coatings do not contain volatile organic compounds (VOC) or solvents. This makes powder coatings an ideal coating option. It is anticipated that the expanding automotive industry across the globe will cater to this market’s rapid expansion in the years to come, which has led to this expectation.
The market for powder coatings can be divided into several submarkets depending on the type of resin, coating method, and end-use. The market is segmented into the thermoset and the thermoplastic categories, based on the types of resin that are used. The thermoset resin variety currently commands the lion’s share of the market share. These powder coatings are made using solid resins with a lower molecular weight as their foundation. When these coatings are heated to high temperatures, they melt, flow, and undergo chemical crosslinking both within themselves and with other reactive elements to produce a reaction product with a higher molecular weight. After curing, the coating maintains its ability to resist temperature changes. Electrostatic spray and fluidized bed are the two primary subcategories that make up this market’s electrostatic spray and fluidized bed segments, respectively.
In addition, the end-use segmentation has been subdivided into the following categories: furniture, automotive, general industrial, architectural, and general industrial. Because of the expansion of the automotive industry, the automotive subsector was the most dominant in the global market. In addition, it is anticipated that the market for appliances will be the one that will expand at the most rapid rate during the period covered by the projections. This is primarily attributable to an increase in the consumption of various types of appliances, including refrigerators, freezer cabinets, air-conditioner cabinets, dryer drums, washer tops and lids, dishwasher racks, water heaters, and microwave ovens.
The market has been broken down into four different sections based on its geographical distribution: LAMEA, Asia-Pacific, Europe, and North America. Because of the significant demand for automobiles and electronics in Thailand, India, South Korea, China, and Taiwan, it is anticipated that the Asia Pacific region will be the market with the highest rate of growth.
In addition, an increase in the amount of money that is available for spending in this area will lead to an increase in the demand for consumer goods such as refrigerators, microwaves, and washing machines, amongst other things. In addition, the market for powder coating is broken down by major countries such as China, Japan, Italy, India, Japan, Brazil, India, Australia, the United States of America, Mexico, Germany, the United Kingdom, Canada, South Korea, the United Arab Emirates, Egypt, France, China, South Africa, and Kuwait, amongst others.
PPG Industries, Inc., The Sherwin-Williams Company, Akzo Nobel N.V., Axalta Coating Systems, LLC., Asian Paints Limited, Jotun Group, Nippon Paint Holdings Co., Ltd., BASF SE, RPM International Inc., just to name a few, are among the most important companies in the Powder Coatings market. However, this list is not exhaustive.
This report segments the powder coatings market as follows:
Global Powder Coatings Market: By Resin Type Segmentation Analysis
Global Powder Coatings Market: By Coating Method Segmentation Analysis
- Electrostatic Spray
- Fluidized Bed
Global Powder Coatings Market: By End-use Segmentation Analysis
- General Industrial
Global Powder Coatings Market: Regional Segmentation Analysis
- North America
- The U.S.
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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