The Powder Coatings Market is projected to reach USD 13.49 Billion by 2022, at a CAGR of 6.75% from 2017 to 2022. In this study, 2016 has been considered as the base year for estimating the market size.
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Browse 255 market data tables and 69 figures spread through 233 pages and in-depth TOC on "Powder Coatings Market by Resin Type (Thermoset, Thermoplastic), Coating Method (Electrostatic Spray, Fluidized Bed), End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture), and Region - Global Forecast to 2022".
Major Market Developments
• In January 2017, AkzoNobel expanded its powder coatings facility in Chengdu, Western China. The new site will help the company to meet growing product demand and also offer a wide range of powder products to its customers from automotive, construction, furniture, and IT industries.
• In January 2017, PPG acquired DEUTEK S.A., a leading Romanian paint and architectural coatings manufacturer. The acquisition adds the fastest-growing paint brands in Romania, where PPG has only a small presence in architectural coatings.
• In February 2017, Axalta entered into an agreement to acquire Century Industrial Coatings (US), a leading manufacturer of high performance industrial coatings for structural steel, oil & gas, rail cars, and other OEM applications.
• This acquisition will enable both the companies to have the opportunity to offer their combined customers an entirely new range of products with best-in-class service.
The powder coatings market in APAC is expected to grow at the highest CAGR during the forecast period. Strong growth can be witnessed in powder coatings market in the Asia-Pacific region, especially in China, India, and South-East Asian countries. Increase in purchasing power parity and demand from the end-use industries specially appliances and automotive drives the powder coatings market.
Difficulty in obtaining thin films is a major factor restraining the growth of the market. Powder coatings produce a thick finish in metal products. It is difficult to produce thin finishes using these coatings, as the thickening of the polymer can lead to the formation of an uneven texture.
Uniform flow and leveling are prerequisites for thin films. Although any powder coating can be formulated for thin film applications, not all these chemistries are suitable for it. A successful thin-film application involves the correlation between color and opacity of pigmentation of powder coatings.
The appliance industry is the largest single market for thermosetting powders. The industry benefits from the use of powder coating in applications that require the combination of appearance and resistance to abrasion, chemicals, and temperature cycling. The appliance industry uses powder coatings on front and side panels of ranges and refrigerators, dryer drums, air-conditioner cabinets, washer tops and lids, water heaters, dishwasher racks, freezer cabinets, and cracks of microwave ovens.
For some applications, pre-coated blank stock is coated and then post-formed in the desired shape. Several key factors, such as increase in per capita income and consumer spending, changing consumer preferences, and growing need for automation and technology advancements are behind the rapid global growth of the powder coating appliances market.
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Key market players in the powder coatings market
The key players in this market are AkzoNobel N.V. (Netherlands), Asian Paints Limited (India), Axalta Coating Systems (U.S.), Berger Paints India Limited (India), Jotun A/S (Norway), Kansai Paint Co., Ltd. (Japan), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), and Somar Corporation (Japan).
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