TAGS: Powder Coatings
Powder coating is a process of applying free-flowing dry powder to any surface. Thanks to its benefits, such as durability, higher quality and increased efficiency on almost any type of substrate material, use of powder coatings has significantly increased over the years. Furthermore, powder-coated surfaces are more resistant to scratches, chipping, fading, and wear than those that are not.
The powder coatings market is witnessing enormous growth in the non-residential sectors such as IT, consumer goods, and telecom. According to a recent study by Grand View Research, the global powder coatings market is anticipated to be valued at USD 20.8 billion by 2028.
Let’s explore the factors and key trends that assist the growth of the powder coatings market.
Factors Contributing to the Growth of the Powder Coatings Market
Powder coatings offer a wide range of benefits for several industries. The coating is proven to be
extremely durable, offers
good surface properties and is
available in several colors.
Few other factors which continue to bring growth to the market:
- Powder coatings are less expensive than liquid coatings since it does not include solvents or volatile organic compounds (VOCs).
- The powder coatings industry is expanding as the demand for automobiles and luxury furniture continues to rise.
- Strict environmental regulations are another factor contributing to the growth of the market.
- Increased disposable income, changing lifestyles, and the increasing availability of products such as air conditioners, washing machines, and refrigerators are few major factors aiding the growth of the market.
- Apart from these factors, the oil and gas industry is complementing the growth of the powder coatings market. The oil and gas sector is being driven by the rising need for development in the building and automotive sectors to satisfy the demands from residential, industrial, and commercial regions. According to the US Energy Information Administration, natural gas and petroleum output in the United States increased by 12% and 16%, respectively, in 2018.
- Furthermore, due to the increased government and industrial expenditures, as well as the expansion of the construction sector in developing countries such as India, are experiencing high demand for oil and gas. A report from IBEF suggests India's oil demand is expected to reach 1,516 million tons by 2035.
All these factors are directly or indirectly responsible for the growth of the powder coatings market in several regions.
Major Applications of Powder Coatings
The global powder coatings market share, by application in 2020 is shown below:
Consumer Goods
Consumer goods are the largest application for powder coatings. Powder coating's widespread use in the consumer products sector is due to its
better look and finish, which is
corrosion and
abrasion-free when compared to liquid coatings.
Automotive Industry
Powder coatings have gained a lot of traction in the automobile sector. The powder coatings market has swiftly & fully dominated this market segment, such as:
- Under-the-hood parts and
- Alloy wheels
One fascinating idea being explored by a prominent automobile manufacturer is the
use of powder coatings as both a primer and a color coat. An electrodeposition primer is used first, followed by a powder coating layer in this concept. The powder coating serves as a surfacer and provides the topcoat color with a durable clear coat, most likely utilizing waterborne technology as the final coat.
General Industries
Powder coating is being used to cover more materials and products in the general industry as a result of
innovative techniques and cost-effective finishing processes. For instance, powder coating is now being used to coat plastics and woods, thanks to new
low-temperature powder application procedures. Some of the other items in the general industry which are powder coated include pressure tanks, transformers, tools boxes, fire extinguishers, exercise equipment, and sports equipment.
Architectural Sector
Another fastest-growing application for powder coatings is the architectural sector due to the
durability provided by the powder coatings. Powder coating is increasingly being used by the construction industry to offer long-term exterior treatments for outdoor venues and public works projects, thanks to the vast range of colors and finishes available. Some of the most common use cases of powder coating in the architectural and construction industry include windows, modular furniture, doors, fencing, light poles, guardrails, and others.
Get started and learn some basic information about powder coatings, their process, key features and benefits.
Trends Driving the Growth in the Global Powder Coatings Market
The market trends for the powder coatings industry indicate the growth and opportunities for market players. These trends provide a detailed analysis of the market to build a
long-term business strategy. Let’s discuss some of the most important trends in the global powder coatings market.
- Performance of Powder Coatings
- Since powder coatings do not include any solvents, they emits very little VOC into the atmosphere and pose a negligible risk of combustion during its application.
- One of the recent trends in the global powder coatings market involves the rising usage of UV-cured powder coating in MDF. MDF is a type of engineered wood made from a combination of wood fibers and resin.
- New Products Launches & Acquisitions
- In August 2021, TIGER Drylac® announced the addition of two new colors to its Metallics product range. The colors of these TIGER Drylac® Flip-Flop Metallics shift based on the lighting and position. The technology creates beautiful metallic effects in a powder coating that is weather-resistant and extremely durable. In January 2021, TIGER Drylac® introduced 17 new fine textured finishes to its proprietary 3D metallic powder coating product range.
- In June 2020, Axalta launched a new collection of sustainable industrial powder coating products in Mexico.
- In March 2020, PPG acquired Alpha Coatings Technologies to expand its powder coatings offering. The acquisition enabled PPG to offer small batch and low cure powder coating manufacturing capabilities for general finishes, light industrial, and furniture applications.
- The Impact of COVID-19 on Powder Coatings
- The COVID-19 pandemic negatively impacted the powder coatings market in 2020. But with the reopening of distribution channels and construction activities in the third quarter of 2020, the demand for the product returned to normal. In addition, with the automotive industry regaining its position, the demand for powder coating from the automotive sector gave a huge boost to the global powder coatings market.
- The COVID-19 pandemic has pushed several companies to work tirelessly to find a way to provide sanitary surfaces by integrating powder coating and materials technology.
Market Players Operating in the Powder Coatings Market
The Future Roadmap for Global Powder Coatings Market
According to a new study by Grand View Research, the global powder coatings industry is expected to expand at a
CAGR of 7.2% from 2021-2028. The growth can be attributed to several factors, few of these factors are - powder coatings require a single coat, resulting in significant cost savings and a faster paint and drying process. It also has a high material usage rate of up to 99%, and any overspray may be recycled, thus reducing waste.
The powder coatings market is expected to expand in the future due to its increasing application in industries such as:
- Automotive
- Construction, and
- Furniture
Furthermore, the optimistic approach of India, China, South Korea, Japan, Malaysia, Vietnam, and Indonesia towards the construction market is promoting the global powder coatings market.
In addition, the advantages powder coating brings to the overall market owing to its sustainability and numerous advantages such as lower operating costs, negligible VOC emissions, and uniform thickness provide a competitive edge over its alternatives.
Explore the exclusive guide on Tests and standards to Characterize Powder Coatings in detail.
Suitable Ingredients Used to Manufacture Powder Coatings
View all the commercially available
ingredients used for powder coatings, analyze technical data of each product, get technical assistance or request samples.
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