Luton, Bedfordshire, United Kingdom, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Powder Coating Market.
Powder coating refers to a high-quality, dry finishing technique wherein fine particles of paints are electro-statically charged and sprayed on various components to form a uniform layer of coat. It involves pre-mixing, melting, extrusion, cooling, crushing, classifying, and controlling epoxy, polyester resins, pigments, and brightening agents as some of the steps followed in the manufacturing process.
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The global powder coating market reached a value of USD 12.56 billion in 2021. Looking forward, the publisher expects the market to reach a value of USD 20.79 billion by 2029, exhibiting a CAGR of 4.2% during 2022-2029.
The main factor driving the growth of the Powder Coating Market is the rising demand for applications in industries such as automotive, soft furnishings, architecture, general manufacturing, and others. Moreover, technological advances and rising automobile production are other factors imposing a positive approach on market growth. Moreover, the imposition of stringent regulations inspires the use of clean, safe, and sustainable coatings, which has fueled market growth. Furthermore, the regional government's socioeconomic development, combined with housing subsidies, has a beneficial impact on the architectural and decorative sector, essentially supporting industry growth.
Key Developments
- In February 2022, PPG Industries announced that it has acquired Arsonsisi, an industrial coatings company based in Milan, Italypowder,'s coatings business. The deal is supposed to be completed in the first quarter of 2022.
- In February 2021, AkzoNobel N.V. launched a new R&D facility in Como, Italy, with an application lab, process lab, and analytical & testing lab. This laboratory is specialized in producing low cure powder coatings for use on heat-sensitive substrates.
- In September 14, 2021, Covestro's Ultra series of coating hardeners was used by BASF's Coatings division. As a result, BASF was able to improve it refinish coatings portfolio to meet the strict occupational safety regulations for isocyanate usage.
Asia Pacific is the largest powder coatings market in the forecast period
Asia Pacific dominated the global powder coatings market with 40% share in 2021. The market in the region is expected to grow at a rapid pace throughout the forecast period due to the region's stable economy, rise in disposable income of consumers, and growth in standard of living in countries such as China, Japan, Singapore, Malaysia, and Vietnam. Europe held a market share of 31% in 2021. The implementation of stringent emission regulations by government bodies such as the REACH is likely to propel the powder coatings market in Europe. North America constituted a share of 17% in 2021, due to rise in environmental concerns and awareness regarding the harmful effects of solvent-based coatings.
The market in Middle East & Africa is anticipated to grow at a CAGR of 6.7% during the forecast period, owing to the surge in demand for passenger & commercial vehicles in the Middle East; and extension of road networks, especially in Saudi Arabia.
Powder Coatings Market Report Scope
| Report Attribute | Details |
| Market size value in 2021 | USD 12.56 billion |
| Revenue forecast in 2029 | USD 20.79 billion |
| Growth rate | CAGR of 4.2% from 2022 to 2029 |
| Base year for estimation | 2020 |
| Historical data | 2017 - 2021 |
| Forecast period | 2022 - 2029 |
| Quantitative units | Volume in kilo tons, revenue in USD million/billion, and CAGR from 2022 to 2029 |
| Report coverage | Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Resin, application, region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Russia & CIS Countries; Benelux; Turkey; Spain; Switzerland; Sweden; Poland; Austria; Norway; Denmark; Finland; Portugal; Czech Republic (CZ); Slovenia; China; India; Japan; Thailand; Brazil; Argentina; Saudi Arabia; South Africa |
| Key companies profiled | AkzoNobel N.V., PPG Industries, Sherwin Williams, BASF SE, Axalta Coating Systems, Kansai Nerolac Paints Limited, Jotun, IFS Coatings, The Valspar Corporation, Tiger Coatings. |
| Customization scope | Report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
| Pricing and purchase options | The entire organization can use the report. It can be printed and shared. Delivery in PDF and Excel. |
Competitive Players
The report contains qualitative and quantitative research on the global Powder Coatings Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. Some Key market players are AkzoNobel N.V., PPG Industries, Sherwin Williams, BASF SE, Axalta Coating Systems, Kansai Nerolac Paints Limited, Jotun, IFS Coatings, The Valspar Corporation, Tiger Coatings.
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Key Market Segments: Powder coatings Market
Powder Coatings Market by Type, 2022-2029, (USD Million)
- Thermoset
- Thermoplastic
Powder Coatings Market by Coating Method, 2022-2029, (USD Million)
- Electrostatic Spray
- Fluidized Bed
- Others
Powder Coatings Market by End Use, 2022-2029, (USD Million)
- Appliances
- General Industrial
- Automotive
- Architectural
- Furniture
- Others
Powder Coatings Market by Region, 2022-2029, (USD Million)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
Powder Coatings Market Dynamics
Driver: Growth in various end-use industries
Powder coatings are used in a variety of industries, including automotive, appliances, furniture, architectural, general industrial, and others. Powder coatings are becoming more popular as new applications are developed. In the future, the furniture and appliance industries will grow steadily. IT and telecommunications are also new markets where powder coating applications are being extensively researched. Powder coating is also used on door handles, bumpers, window handles, and other automobile parts such as radiator coil springs, shock absorbers, and breaking parts. Consistent economic growth is attracting new investments to the Asia Pacific region. Steel company investments have pushed the development of the appliances, construction, automotive, and electronics sectors in Asia Pacific and the Middle East developing countries over the last decade. The growth of these industries is driving the demand for powder coatings.
Restraint: Difficulty in obtaining thin films
Powder coatings provide a thick finish to metal products. It is difficult to achieve thin finishes with these coatings. The thickening of the polymer can result in the formation of an uneven texture. Thin films require uniform flow and levelling. Although any powder coating can be formulated for thin film applications, not all of these chemistries are appropriate. Due to the particle size and glass transition temperature of the powder, the texture of the thin film of powder coating becomes increasingly orange peeled. Powder coating with particle sizes ranging from 30 to 50 micrometres should be used for optimal material handling and application ease. A successful thin film application requires a correlation between the colour and opacity of pigmentation. A successful thin film application involves the correlation between color and opacity of pigmentation of powder coatings.
Opportunity: Increasing use of powder coatings in automotive industry
In the automotive industry, 2021 was a year of many innovations and technological advancements. With the global autonomous market expected to be worth USD 60 billion in 2029, sustainability is critical to the future of self-driving cars. Market forecasts for 2022 remain cautiously optimistic, with light vehicle sales expected to rise slightly. Investments in China's automotive industry provide significant growth opportunities for powder coating manufacturers, as this is one of the coating's primary applications.
Powder coating is applied to automotive engines, chassis, wheels, filters, joysticks, mirrors, wipers, horns, and other vehicle components. Transparent powder coating is being developed as a car body varnish. Powder coatings have traditionally been used in these areas and have gained trust. They have proven to be extremely durable and corrosion-free, as well as capable of imparting high-quality aesthetics.
Challenge: Environmental challenges
With an increasing emphasis on meeting state and local regulations regarding wastewater discharge, the powder coating industry faces numerous environmental challenges. Powder coating operations generate waste streams containing metals, oil and grease, and suspended solids during the cleaning and pre-treatment phases of their operations. Many state and local environmental regulations make it difficult for powder coating manufacturers to comply. Heavy metal contamination in wastewater has been a problem for metal finishing companies that use various electroplating processes.
Key Benefits for Powder Coatings Market:
- The report provides detailed examination about the driving and limiting factors of the powder coatings market, which would give a deeper understanding of the subject and help in analyzing the various resin types, coating method and applications of powder coatings
- The powder coatings market projections for the period 2022-2029 along with their impacting factors are included in the report.
- The report helps in analyzing the various application segments, thus helping the stakeholders understand opportunities in the various fields of powder coatings market
- The report provides quantitative as well as qualitative trends to assist stakeholders in formulating effective growth strategies.
- Competitive intelligence highlights the business practices adopted by leading powder coatings market players across various geographies
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