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Powder Coatings Market Set to Touch USD 20.79 billion Supported by the Expansion in Environmentally Friendly Coatings Globally by 2029 | Exactitude Consultancy

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Exactitude Consultancy

22 Mar, 2023, 14:15 GMT

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Powder Coatings Market Sale Volume witness a 4.2% CAGR by 2029, propelled by rising investments in the automotive sector.

PUNE, India, March 22, 2023 /PRNewswire/ -- 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 Coatings Market.

The global Powder Coatings Market is expected to grow at more than 4.2% CAGR from 2023 to 2029. It is expected to reach above USD 20.79 billion by 2029 from USD 12.56 billion in 2022.

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.

Download PDF Brochure@: 
https://exactitudeconsultancy.com/reports/2775/powder-coatings-market/#request-a-sample 

Decorative and protective finishes are produced using powder coatings. They are available in numerous hues and textures. Excellent performance attributes are the outcome of technological developments. It has advantages, including exceptional toughness, scratch resistance, gloss maintenance, and resistance to chalking. It is primarily applied to metal items that are exposed to severe weather. It follows AAMA guidelines and is an environmentally sustainable procedure. Due to the lack of solvents and volatile organic chemicals, powder coating is inexpensive (VOCs). Additionally, excess powder coating sprayed on can be recovered and reused to cut costs.

Powder Coatings Market Recent Developments

  • August 2022: PPG will be investing USD 11 million to double the manufacturing capacity of its powder coatings factory in San Juan del Rio, Mexico. By mid-2023, the expansion project is anticipated to finish, enabling the factory to provide Mexico's estimated demand for powder coatings.
  • May 2022: AkzoNobel Powder Coatings developed a range of ready-to-ship (RTS) powder coatings, mainly for the North American market. The new range includes AkzoNobel's powder coatings brands, Resicoat and Interpon, and is suited to serve urgent coatings projects.
  • April 2022: PPG Industries acquired the powder coatings business of Arsonsisi, an industrial coatings company based in Milan, Italy. The acquisition will offer PPG a highly automated powder production factory in Italy, capable of producing small and big batches.

The powder coatings market in Asia-Pacific is now the 49% Share and one with the quickest growth.

The demand is shifting to the Asia-Pacific region due to the economic downturn and market saturation in Europe and North America. This region has the most robust building industry, accounting for over 40% of global construction investment, and powder coating producers focus on it. India, China, and Indonesia are making significant investments in various end-use industries, which will likely impact how quickly the powder coatings market share expands in these nations. With increased income levels, demand is also rising in the area. To meet the need for powder coatings, numerous foreign companies are investing in these nations markets investing in these nations' markets.

New Advances in Powder Coating Technology

  • The powder coatings market in 2022 is estimated to be about $12 billion and represents about 12.5% of the industrial coatings market. After a trying 2022 for both business and operations the global powder market is forecast to grow 4.2% in 2022 with the Asia Pacific region leading the way at about 49% and North America at a more modest 35%.
  • Growth is expected to be fueled by recovery in the gross domestic product, a rebound in the automotive market, and increased housing starts and construction. An environmental regulatory push for lower volatile organic compounds (VOCs) will also cause a modest incentive to transition from solventborne paints to powder coatings.
  • Advances in low-temperature cure were introduced recently as well as powders capable of meeting high durability standards such as American Architectural Manufacturers Association (AAMA) 2605 and Qualicoat Class 3 (both require 10 years Florida durability).

Other Technology Trends in Powder Coatings

Coatings specialist spraying white powder coating Several new developments are emerging across the powder coating technology spectrum. An unexpected shift in the use of curing agents has occurred largely due to supply chain difficulties. New approaches to antimicrobial performance continue to develop as companies try to help manufacturers stay ahead of the concerns for infectious viral spread.

Novel techniques for bonding special-effect pigments to powder coatings have been identified in university research laboratories. Instrumentation techniques continue to evolve with the development of surface profile characterization innovations. Control technology for powder application equipment has advanced with more sophisticated software to fine-tune application parameters.

Key Findings of Study

  • Government-imposed Stringent Environmental Regulations on Harmful Coatings: Various rules and regulations have been imposed on handling, storage, and transportation of multiple specimen chemicals and their effluents, emissions, and other pollutants. This has led to high demand for less harmful alternatives such as powder coatings. An added advantage of powder coatings is that these do not require any specific handling, storage, or transportation methods. Thus, the imposition of stringent environment regulations on harmful coatings is projected to propel powder coatings market expansion in the near future.
  • Increase in Demand in Automotive Industry: Powder coatings offer irresistible value proposition for consumers, and are thus gaining popularity in the automotive sector. Powder coating is used for automobile parts such as door handles, roof racks, and the interior & exterior trims to protect from rain and heat. Furthermore, low operational cost and corrosion & abrasion resistance are anticipated to increase popularity of powder coatings in the next few years. These factors are projected to create growth opportunities for the global powder coatings market during the forecast period.

Key Drivers

  • Rise in demand in the automotive industry is projected to augment market growth during the forecast period
  • Environment-friendly characteristics of powder coatings is anticipated to increase adoption in future
  • Increase in demand in applications such as metal furniture, construction, agriculture, and other industries is projected to accelerate market expansion in the near future

Powder Coatings Market Report Scope:

Report Attribute

Details

Revenue forecast in 2029

USD 20.79 billion by 2029

Growth rate

CAGR of 4.2% from 2023 to 2029

Base year for estimation

2022

Historical data

2017 - 2022

Forecast period

2023 - 2029

Quantitative units

Volume in kilo tons, revenue in USD million and CAGR from 2023 to 2029

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; China; Asia; Pacific; Central & South America; MEA

Market Drivers

  • Growing demand for powder coatings in the various end-use industries such as automotive,
    aerospace, consumer goods & appliances.
  • A surge in the demand for medical devices and increasing automobiles production are the
    major factors driving the growth.

Strategic activities of key players including, production capacity expansion, new product launches and strategic agreements will differentiate themselves in the longer run.

Some Key players in the powder coatings market are:

  • Axalta Coating Systems Limited (U.S.)
  • TCI Powder (U.S.)
  • Kansai Paint Co.Ltd (Japan)
  • Nippon Paint Holdings Co. Ltd (Japan)
  • The Sherwin-Williams Company (U.S.)
  • Berger Paints India Limited (India)
  • BASF SE (Germany)
  • Jotun (Norway)
  • Akzo Nobel N.V. (Netherlands)
  • DSM (Netherlands)
  • Asian Paints PPG Pvt Limited (India)
  • PPG Industries Inc. (US)
  • Among others.

Browse In-depth Market Research Report (95 Pages) on Powder Coatings Market 
https://exactitudeconsultancy.com/reports/2775/powder-coatings-market/ 

Key Market Segments: Powder Coatings Market

Powder Coatings Market by Type, 2023-2029, (USD Million, Kilotons)

  • Thermoset
  • Thermoplastic

Powder Coatings Market by Coating Method, 2023-2029, (USD Million, Kilotons)

  • Electrostatic Spray
  • Fluidized Bed
  • Others

Powder Coatings Market by End Use, 2023-2029, (USD Million, Kilotons)

  • Appliances
  • General Industrial
  • Automotive
  • Architectural
  • Furniture
  • Others

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 2022 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 2029.

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 2029, at a CAGR of 6. 1% from 2023 to 2029.

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 2029, at a CAGR of 6% from 2023 to 2029.

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.

Market Dynamics:

Driver: Rising demand for environmental-friendly powder coatings

Environmentally friendly powder coating is mostly used to apply a coat on metals for structural steel and roadway component items. Eco-friendly powder coating has various advantages compared to traditional powder coatings and conventional liquid coatings. These powder coatings release zero or nearly zero solvents, which are known to produce VOC.  At ordinary room temperature, these organic chemicals have a high vapor pressure, and many of them are hazardous to human health or harmful to the environment. Environmentally friendly powder coating produces less hazardous waste and has lower overall environmental impact than conventional liquid coatings. There is no effluent discharge into the public sewage, groundwater, or the earth's surface when eco-friendly powder coating is used. As a by-product of powder coating process, environmentally friendly powder coating does not produce any harmful waste. These coatings are often more durable than liquid coatings and are frequently less expensive than liquid alternatives. It does not require multiple coats, as conventional liquid paint does. When eco-friendly powder coating is used on metallic and non-metallic items, the apparent differences between surfaces are generally reduced, making it a viable alternative.

Opportunities: Increasing use of powder coatings in the automobile industry

2022 has been a year of significant inventions and technological advancements in the automotive sector. Sustainability plays a crucial role in the future of self-driving cars, with the global autonomous market anticipated to be worth USD 60.3 billion in 2029. The estimates for the market are still cautiously positive for 2022, and it is expected that sales of light vehicles will improve, albeit minor. Because the automobile industry is one of the primary applications of powder coating, investments in the automotive industry in China present substantial growth potential for powder coating manufacturers.

The coating of automobile engines, chassis, wheels, filters, joysticks, mirrors, wipers, and horns, as well as other components of cars, can be accomplished with powder coating. As a varnish for automobile bodies, a transparent powder coating is now being developed. Powder coatings have been traditionally employed in these areas and have garnered confidence. They have demonstrated the capacity to give high-quality aesthetics in addition to their extraordinarily high levels of durability and immunity to corrosion.

Restraint:  High initial costs

Powder coating may prove to be more cost-effective in long run due to its durability, short processing and curing periods, lower environmental impact, and higher material usage rates. Initial cost of powder coating and investment in powder coating equipment, on the other hand, can be significantly more than that of liquid coating. Spray gun and spray area are only required for liquid coating applications. However, in order to finish powder coating process, a workshop must have at least spray booth, spray gun, and curing oven. Powder coating's initial start-up costs is significantly increased due to installation of a curing oven. It can also be a restraining factor in terms of maximum part size that can be handled; larger, thicker, and heavier parts necessitate a larger and more powerful oven, which increases overall equipment costs.

Challenges in obtaining thin films

Metal goods with powder coatings have a thick finish. With these coatings, thin finishes are challenging to create. An uneven texture may develop as a result of the polymer thickening. For thin films, uniform flow and leveling are necessary. Not all of these chemistries are appropriate for thin-film applications, even if any powder coating can be created for them. Due to the powder's particle size and glass transition temperature, the thin film of powder coating becomes more orange peeling in texture ever. The powder coating should have particles that are between 30 and 50 micrometres in size for optimal material handling and application simplicity. The relationship between the hue and opacity of powder coating pigmentation is essential for a successful thin film application.

Key Question Answered

  • Who are the major players in the Powder coatings market?
  • What are the regional growth trends and the largest revenue-generating regions in the Powder coatings market?
  • What are the major drivers and challenges in the Powder coatings market?
  • What are the major coating method segments in the Powder coatings market?
  • What is the major end uses in the Powder coatings market?

Discover more research Reports on Chemical & Material Industry, by Exactitude Consultancy

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About Exactitude Consultancy

Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.

Contact us

for your special interest research needs at sales@exactitudeconsultancy.com and we will get in touch with you within 24hrs and help you find the market research report you need.

Website: https://exactitudeconsultancy.com/

Contact: Irfan Tamboli 
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+91-7507-07-8687

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