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Powder Coatings Market to Reach USD 12,332 Million by 2022: Allied Market Research

Published on 2016-08-09. Author : SpecialChem

Powder coatings
The demand for powder coatings has increased
owing to growing technological advancements
and increasing demand from applications such as automotive

The powder coatings market is expected to generate $12,332 million by 2022. Powder coatings in appliances application segment occupied the major share in 2015 and is expected to maintain its lead throughout the analysis period. Powder coating provides economical, long lasting, and durable quality finish for metal parts and products. It offers benefits such as superior durability, scratch resistance, gloss retention, and resistance to chalking. It is mainly used for applications on metal parts exposed to extreme weather conditions. It adheres to the AAMA specifications and is an ecofriendly process. Powder coating are cost-efficient, as they do not contain solvents and volatile organic compounds (VOCs). In addition, over-sprayed powder coating can be retrieved and recycled for use, thereby reducing cost.

The report on the world powder coatings market exclusively focuses on current market trends and future growth opportunities of various powder coatings such as thermoset and thermoplastic. It focuses on various powder coating applications, which include appliances, automotive, architectural, furniture, agriculture, construction & earthmoving equipment (ACE), general industrial, and others. It provides information on coating method of powder coatings such as electrostatic spray and fluidized bed. Moreover, it analyzes the current market trends of powder coatings across different geographies and suggests the future growth opportunities by analyzing the government regulations & policies, thereby increasing the consumer acceptance of powder coatings.

Strict Environmental Regulations Drive the Market

The demand for powder coatings has increased owing to growing technological advancements and increasing demand from applications, namely, architectural; appliances; automotive; furniture; agriculture, construction, and earthmoving equipment (ACE); general industrial; and others. This trend is expected to continue as it is a volatile organic compound (VOC) and solvent-free. Strict environmental regulations also boost the growth of this market. The market has witnessed moderate growth during the past few years and is expected to grow at a CAGR of 6.3%, in terms of volume, during the forecast period.

Segment Review

Thermosets are used to coat appliances, as they are resistant to extreme temperatures. Leading companies in this market have heavily invested in R&D activities to offer product customization as per the requirements of the end user industry. Supportive government policies have fueled the growing adoption of powder coatings especially thermoset powder coatings across end user industries during the forecast period.

Electrostatic spray is the most adopted coating technique as it enables coating of intricate shapes and does not require preheating of components. This segment is expected to continue its dominance throughout the forecast period.

Appliances segment dominated the world powder coating market with more than 20% share in terms of volume, generating 454 kilo tons in the year 2015. This application for powder coating is expected to grow at the highest CAGR during the forecast period.

Asia-Pacific Review

The Asia-Pacific market for powder coatings is expected to grow at the highest CAGR in terms of both volume and value, due to its stable economy, increasing disposable income, and improving standards of living in countries such as China, Japan, Singapore, Malaysia, and Vietnam. The market is expected to witness rapid growth during the forecast period due to proactive government measures to promote the use of eco-friendly coating systems such as powder coatings. The Chinese metal furniture industry is expected to witness rapid growth during the forecast period, owing to availability of inexpensive raw materials.

In Asia-Pacific region, the automotive industry is expected to grow, owing to growth in transportation infrastructure, changing lifestyle, and rising disposable income. The green coatings manufacturing companies and research institutions have heavily invested to develop advanced, eco-friendly, and nonhazardous powder coatings. China is the largest producer of refrigeration appliances. In China, the demand for electric home appliances has considerably increased due to rising disposable income and strong growth in the real estate sector.

Top Winning Strategy

The key players in the world powder coatings market have adopted various business strategies such as product launch, agreement, collaboration, and expansion to sustain the stiff competition in the market. The market players profiled in this report are powder coating manufacturers and solution providers who distribute their products to end-user industries.

About Allied Market Research

Allied Market Research is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Source: Allied Market Research

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