Pune India, Feb. 03, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the powder coating market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the powder coating market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the resin, coating, application, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global powder coating market are Akzo Nobel N.V, PPG Industries, Inc., The Sherwin-Williams Company, DSM, BASF SE, Arkema S.A., Valspar, and Bayer AG. among other. To achieve a substantial market share in the worldwide powder coating market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Powder coating is widely used in the medical industry because of its antibacterial properties, which support the maintenance of a clean and sterile environment. This quality qualifies it for use in a range of medical facilities, including wheelchairs, hospital beds, and operating room furnishings. The importance of powder coating, which prevents the growth of bacteria, viruses, parasites, and mildew in medical settings, has increased. Powder coatings have a reduced risk of combustion during storage and application because they emit fewer volatile organic compounds (VOCs) into the atmosphere due to the absence of solvents. Additionally, after coming into contact with human skin, powder easily washes off, lessening worker health concerns. The use of powder coatings on home appliances is currently very popular due to their superior quality and long-lasting results. The use of powder coating applications as a high-quality finish for both large and minor applications is well known in the home appliance industry. Powder coatings are used on a variety of electrical appliances, including clothes dryers, dishwashers, fans, air conditioners, refrigerators, microwave ovens, cookers, video components, rice cookers, freezers, stereo components, television components, water coolers, and washing machines, due to advantages like high corrosion resistance with single coat application in the appliance finishing industry. Powder-coated finishes are used rather commonly in the agriculture industry. Agricultural equipment is out in the elements, which can cause rusting and other problems.
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Scope of powder coating market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Resin, Coating, Application, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Akzo Nobel N.V, PPG Industries, Inc., The Sherwin-Williams Company, DSM, BASF SE, Arkema S.A., Valspar, and Bayer AG. among other |
Segmentation Analysis
The epoxy-polyester segment is expected to be the fastest-growing segment in 2022.
The resin segment is polyurethane, epoxy, acrylic, epoxy-polyester, polyester, and others. The epoxy-polyester segment is expected to witness the highest growth rate during the forecast period. Epoxy polyester hybrid resin—a blend of both epoxy and polyester resins—is mostly employed in interior applications, such as furniture coatings, due to its distinctive properties, including hardness, weather resistance, flexibility, and affordability. These coatings provide smooth, thin layers that are resilient to corrosion and have good flexibility. Epoxy-polyester hybrids are more resistant to yellowing from prolonged UV exposure than pure epoxies.
The electrostatic spray coating segment is expected to be the fastest-growing segment in 2022.
The coating segment is flame spraying, electrostatic spray coating, electrostatic fluidizes bed process and fludidzed bed coating. The electrostatic spray coating segment is expected to witness the highest growth rate during the forecast period. The substrate being coated is grounded while powder particles are electrically charged by a spray cannon during the coating process known as electrostatic spraying (ES) (made neutral). The main purpose of this coating is to shield the underlying material from corrosion. Electrostatic spray coating creates a flawless, long-lasting, and swiftly drying finish.
The architectural segment is expected to be the fastest-growing segment in 2022.
The application segment is furniture, consumer goods, general industries, automotive, architectural, and others. The architectural segment is expected to witness the highest growth rate during the forecast period. Due in large part to their durability, the architectural industries are one of the fastest-growing markets for powder coatings. Additionally, the advancement of polyester resin technology, particularly stable, low-gloss formulations, opened up the architectural sector to the use of powder coatings. Due to the wide range of colours and finishes that powder coatings provide, many construction companies employ them to provide durable exterior treatments for outdoor venues and public works projects.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the powder coating include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacfic region witnessed a major share. In the Asia-Pacific region, China and India held the majority of the worldwide market share due to rising demand for autos, construction materials, and industrial items. As a result, the market for powder coatings in the area is seeing increased demand. In China, the building sector is rapidly growing. According to the National Bureau of Statistics of China, the value of China's building output in 2021 will be approximately CNY 29.31 trillion (or USD 421.57 billion).
Country Analysis
- Germany
Germany's powder coating market size was valued at USD 1.08 billion in 2022 and is expected to reach USD 1.69 billion by 2030, at a CAGR of 5.8% from 2023 to 2030.
The demand for powder coating in automobiles is expected to rise over the course of the forecast year as a result of Germany's expanding automotive industry. Additionally, REACH regulations that restrict VOC emission during the coating process have led to automobile manufacturers using powder coatings rather than liquid coatings.
- China
China’s powder coating market size was valued at USD 1.45 billion in 2022 and is expected to reach USD 2.32 billion by 2030, at a CAGR of 6. 1% from 2023 to 2030.
In May 2021, PPG announced that it has invested US$13 million in its paint and coatings facility in Jiading, China. Eight new powder coating manufacturing lines and an expanded Powder Coatings Technology Center were included in this project.
- India
India's powder coating market size was valued at USD 1.12 billion in 2022 and is expected to reach USD 1.7 billion by 2030, at a CAGR of 6% from 2023 to 2030.
The requirement for powder coating in architectural applications, such as kitchen windows, doorframes, building facades, and aluminium extrusions used in building facades and kitchens, is anticipated to rise as India's infrastructure develops.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the powder coating market is mainly driven by the rising application.
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