Powder Coatings Market to Witness Massive Growth by 2022: Key Players| Akzo Nobel N.V., PPG Industries, Inc., Axalta Coating Systems, The Sherwin-Williams Company, BASF SE, PPG Industries, Inc., Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., and

Powder Coatings are a type of coatings based on polymer resin systems, combined with pigments, flow modifiers, levelling agents, curatives, and other additives. These components are melt mixed, cooled, and ground into a uniform powder. Electrostatic spray deposition (ESD) is typically used to attain the application of Powder Coating on a metal substrate. Powder Coatings offers excellent properties such as high durability, impact resistance, UV rays protection, moisture & chemical resistance. With the above-mentioned properties they are widely used in numerous application such as architectural & furniture, appliances, consumer goods, automotive & transportation, and others.

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As per our analysis, some of the important market factors and trends identified in the Global Powder Coatings Market include rapid urbanization, increasing demand for solvent free coatings, and continuous growth of automotive industry. Moreover, high consumption of powder coatings coupled with shifting trend for replacement of conventional solvent based coatings in various end use industries is expected to fuel the growth of the market. Speedy industrialization along with rising consumer disposable income is also expected to drive the growth of the market over the forecast period, 2017 to 2023. Increasing usage of Powder Coatings in the manufacturing of various electronics & electrical parts is predicted to drive the demand for powder coatings over the assessment period. Rising concerns towards mitigation of the ill effects of volatile organic compound (VOC) coupled with stringent regulations imposed by various government bodies is estimated to propel the demand for powder coatings. However, high energy consumption is estimated to hinder the growth of the market over the assessment period.

Regional Analysis:

The Global Powder Coatings Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, the Asia Pacific region is predicted to grow with a highest CAGR during the estimated period, 2017 to 2023 on account of stable economy and continuous growth of automotive & transportation industry. The demand for Powder Coatings is expected to propel in the numerous countries of Asia Pacific such as China, India, Vietnam, Thailand, Singapore, South Korea, and Japan due to high adoption rate by the automobile manufacturers and implementation of strict regulation regarding VOC emission rate. Furthermore, increasing automotive production and sales as well as rising demand for household appliances in emerging economies along with growing disposable income of consumer is predicted to fuel the growth of the market. Economic development in Asia Pacific, particularly Vietnam, China, India, Bangladesh, has presented opportunities for Powder Coating in the transportation sector.

Asia Pacific has emerged as the leading market region for Powder Coatings followed by Europe and North America. European countries such as Italy, Russia, France, Spain, UK, and Germany have emerged as prominent consumer markets due to implementation of stringent emission regulations by government body such as REACH and continuous growth in automotive sector. Germany is estimated to grow with a healthy CAGR on account of strong automotive manufacturing base along with shifting manufacturers’ interest towards Powder Coatings. Additionally, the Middle East and Africa is predicted to witness a steady growth over the forecast period due to a significant rise in infrastructural development in residential as well as commercial sector. Countries in the Middle East such as the United Arab Emirates (UAE), Oman, Turkey, Qatar, Kuwait, and Saudi Arabia are witnessing increasing demand for durable coatings which is propelling the expansion of local market players in various countries and is predicted to fuel the demand for powder coatings.

North America is expected to register an above average growth in the Powder Coatings Market on account of the growing environmental concerns and awareness regarding the harmful aspects of solvent based paints. Furthermore, strict norms implemented by the Environmental Protection Agency (EPA) regarding the Volatile Organic Compound (VOC) emission level is estimated to propel the market growth over the assessment period. Latin American countries such as Argentina, Brazil, and Colombia are estimated to witness moderate growth due to high adoption rate from consumer goods industry as well as strong automotive production companies.

Segmentation:

The Global Powder Coatings Market is classified on the basis of resin type, application, substrate, and region. On the basis of resin type, the market is bifurcated into thermoplastic and thermoset. Thermoplastic segment comprises of nylon, polyolefin, polyvinyl fluoride (PVF), and polyvinyl chloride (PVC). Thermoset segment includes polyester, epoxy, acrylic, polyurethane, epoxy polyester hybrid, and others. On the basis of application, powder coatings market is segmented into automotive & transportation, architectural & furniture, appliances, consumer goods, and others. On the basis of substrate, the market is divided into metal and non-metal.

Key Players:

Some of the prominent players operating in the Global Powder Coatings Market are PPG Industries, Inc (U.S.), The Valspar Corporation (U.S.), Akzo Nobel N.V. (the Netherlands), Asian Paints Limited (India), KANSAI PAINT CO.,LTD (India), Royal DSM (the Netherlands), Arkema (France), Evonik Industries (Germany), TCI Powder (U.S.), The Sherwin-Williams Company (U.S.), and others.

Geographical Analysis:

The report covers brief analysis of geographical regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.

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