What are the different trends in Powder Coatings Market to boost its growth? | Key Players are Valspar, PPG Industries, Asian Paints, BASF, Evonik, AkzoNobel, Sherwin-Williams, Jotun, Axalta, Kansai Paint Private Limited, RPM International Inc., Hentzen C

In the face of digital revolution, the global powder coatings market is unsurprisingly making an effort to keep up with the drastic changes being brought in by Industry 4.0 on a number of fronts. This includes incorporating better material handling techniques, automation controls linking machines together, allowing for better management of powder coating while spraying, and the launch of new products equipped with precision technologies.

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Growth drivers
1. Increasing construction spending
2. Increasing demand in the automotive, aerospace and marine industry
3. Focus on VOC emissions reduction
4. Strong outlook in the furniture industry
5. Lower application cost as compared to liquid coatings

An exceptional instance of technological advancement pushing the limits of product development is of the new Encore manual powder coating spray gun range introduced by Nordson Industrial Coating Systems. Named Encore nLighten LED Kit, the new product illuminates the surface being coated, for easy inspection and precise powder application. An all-in-one inspection and application tool, the new spray leaves no margin for error and reduces the need for post-coating quality checks.

In automotive & transportation applications, wheels accounted for approximately 8% of the revenue share in 2017. The increasing preference for powder coatings among manufacturers due to their substantial cost reductions, corrosion resistance, and aesthetic appearance will trigger the market growth. Automotive industry expansion has resulted in the high penetration of its components, such as door handles, radiator grills, wheel rims, and bumpers, will eventually drive growth in this segment.

Non-metallic substrates were valued over USD 500 million in 2017 and is expected to witness highest gains in revenue terms up to 2024. Introduction of medium-density-fiberboard (MDFD), that has intensified the varnishing of wood-based furniture will drive the product penetration. This demand will be supported by functional advancements such as gloss retention, durability, scratch and chalking resistance. The introduction of products with low-temperature curing capabilities is providing new growth avenues for its applications in the furniture industry.

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Asia Pacific powder coatings market dominated the industry and accounted for more than 40% demand in 2017. The large presence of industrial units in China, India, and Japan will positively influence the market growth. Imposition of government regulations with respect to VOC emission will boost the market share. For instance, in January 2015, the China Ministry of Finance imposed 4% additional consumption tax on coating manufacturers over the sale of any product whose spray VOC level surpasses 420g/L.

The powder coatings market share is competitive in nature and majorly occupied by Axalta, AkzoNobel NV, PPG Industries Inc., and Jotun. The key strategies implemented by industry participants include geographical expansions, new product launches, mergers & acquisitions, and R&D investments. For instance, in February 2017, Axalta acquired Century Industrial Coatings, a high-performance powder coatings manufacturer for structural steel, oil & gas, and rail cars. This enables the company to explore untapped market potential in diversified business segment. Industry players resort to effective and long terms supply chain agreements with dealers and distributors to ensure efficient flow and reach of their products.

Glimpse of Table of Content (ToC)

Chapter 3 Powder Coatings Industry Insights

3.1 Industry segmentation

3.2 Industry landscape, 2013- 2024

3.3 Industry ecosystem analysis

3.3.1 Vendor Matrix

3.3.1.1 Raw material suppliers

3.3.1.1.1 Challenges faced by the raw material suppliers

3.3.1.2 Manufacturers

3.3.1.2.1 Challenges faced by manufacturers

3.3.2 Distribution channel analysis

3.3.2.1 Distributors & dealers

3.3.2.2 End-users

3.3.3 Potential customer analysis

3.3.4 Profit margin trends

3.4 Technology landscape

3.5 Regulatory landscape

3.5.1 North America

3.5.1.1 U.S.

3.5.1.1.1 Industrial surface coating regulation update

3.5.1.2 Canada

3.5.1.2.1 Volatile Organic Compound (VOC) concentration limits for architectural coatings regulations

3.5.2 Europe

3.5.2.1 British, European, and International Standards

3.5.2.2 CEPE- Safe Powder Coating Guideline

3.5.2.2.1 Health Hazards Guidelines

3.5.3 Asia Pacific

3.5.3.1 China

3.5.3.1.1 HG/T 3793-2005 – Hot-melt fluorocarbon resin (PVDF) coatings

3.5.3.2 Australia

3.5.3.2.1 Spray painting and powder coating: code of practice

3.5.4 Latin America

3.5.5 Middle East and Africa

3.5.5.1 South Africa

3.5.5.1.1 SANS 1796:2014 - Application of durable organic powder coatings for architectural aluminum

3.6 Industry impact forces

3.6.1 Growth drivers

3.6.1.1 Increasing construction spending

3.6.1.2 Increasing demand in the automotive, aerospace and marine industry

3.6.1.3 Focus on VOC emissions reduction

3.6.1.4 Strong outlook in the furniture industry

3.6.1.5 Lower application cost as compared to liquid coatings

3.6.2 Industry pitfalls & challenges

3.6.2.1 Higher energy consumption & investment on machinery & tools

3.7 Growth potential analysis, 2017

3.8 Functional powder coatings industry outlook

3.8.1 Anticorrosive powder coatings

3.8.2 Antibacterial/ antimicrobial powder coatings

3.8.2.1 Application segments for antibacterial powder coatings

3.8.2.2 Selection of antibacterial(AB)agent

3.8.2.3 Dosage level of silver additive

3.8.2.4 Powder application

3.9 Pricing analysis

3.9.1 Regional pricing

3.9.1.1 North America

3.9.1.2 Europe

3.9.1.3 Asia Pacific

3.9.1.4 Latin America

3.9.1.5 Middle East and Africa

3.9.2 Cost structure analysis, 2017

3.10 Porter’s analysis

3.11 Competitive landscape, 2017

3.11.1 Global company market share analysis, 2017

3.11.2 Top players overview, 2017

3.11.3 Strategy dashboard

3.12 PESTLE analysis

Browse key industry insights spread across 615 pages with 562 market data tables & 16 charts & figures from the report, “Powder Coatings Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/powder-coating-market

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