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Powder Coatings Market by Resin Type, Coating Method, End-use Industry And Region - Global Forecast to 2025

Powder Coatings Market by Resin Type, Coating Method, End-use Industry And Region - Global Forecast to 2025

  • February 2020
  • 232 pages
  • ID: 4763095
  • Format: PDF
  • By MarketsandMarkets

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The powder coatings market is projected to register a CAGR of 6.3% between 2020 and 2025.
The powder coatings market is projected to grow from USD 15.7 billion in 2020 to USD 21.4 billion by 2025, at a CAGR of 6.3% between 2020 and 2025. The market in APAC is the largest consumer of powder coatings due to various investments done in automotive, appliances, architectural, and furniture industries in the region. However, high energy consumption during application is projected to restrain the market growth during the forecast period.

Automotive is projected to be the largest industry in the powder coatings market.

Automotive was the fastest-growing industry in 2018.Increasing consumer preference is a key factor driving the global automotive powder coatings market.

The powder coatings market in the automotive segment is anticipated to witness healthy growth owing to increased competition among players, growing demand for vehicles, supportive government policies, development of transportation infrastructure, and rapid economic growth.Powder coating is used on oil and fuel filters, battery trays, brake pads, shock absorbers, engine block casings, suspension components, and radiators.

Powder coating is also applied to wheels, grills, bumpers, door handles, roof racks, trailer hitches, and exterior & interior trim.

Thermoset resin is the fastest-growing segment of the powder coatings market.

Thermoset resin was the fastest-growing segment in 2018.These powder coatings are mostly derived from different resins: epoxies, polyesters, acrylics, and polyurethanes.

They require a lower curing temperature as compared to thermoplastic resins.The most significant development in the thermoset powder coatings is the capacity to engineer resin types with different properties used in different applications.

The polyesters and acrylics find major use in the automotive and appliance industries despite the traditional epoxy resin powder coating. Most of the thermoset powder coats provide a high level of corrosion, impact, and temperature resistance.

APAC accounts for the largest powder coatings market amongst other regions
APAC is projected to be the fastest-growing market, in terms of both volume and value, during the forecast period.The region will witness a significant rise owing to the growth of the electronics and automotive industries in China, Thailand, India, South Korea, and Taiwan.

Increasing demand for consumer goods, including washing machines and refrigerators, in India, China, Vietnam, the Philippines, and Thailand, is expected to boost demand for powder coatings in these applications.

Extensive primary interviews have been conducted, and information has been gathered from secondary research to determine and verify the market size of several segments and subsegments.

Breakdown of Primary Interviews:
• By Company Type: Tier 1 – 27%, Tier 2 – 37%, and Tier 3 – 36%
• By Designation: D Level – 25%, C Level – 33%, and Others – 42%
• By Region: APAC – 37%, North America – 18%, Europe – 27%, South America- 9%, and the Middle East & Africa – 9%

Key companies profiled in this report are PPG Industries, Inc. (US), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (US), Axalta Coating Systems, LLC. (US), Asian Paints Limited (India), and Nippon Paint Holdings Co., Ltd. (Japan).

Research Coverage:
The powder coatings market has been segmented on the basis of resin type (thermoset and thermoplastic), coating method (electrostatic spray, fluidized bed), end-use industry (appliances, automotive, general industrial, architectural, furniture), and region (North America, Europe, APAC, Middle East, Africa, and South America). The end-use industry and type segments are further analyzed for each country in the respective regions.

Reasons to Buy the Report
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on powder coatings offered by top players in the market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the powder coatings market
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the market for powder coatings across regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the powder coatings market
• Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the powder coatings market

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