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Energy Efficient Powder Coatings Market Analysis by key Players AkzoNobel, Jotun, BASF, IGP, PPG Industries, TCI, Kansai Paints, Axalta, Asian Paints, Berger Paints
Energy Efficient Powder Coatings Market
Growing furniture industry has propelled energy efficient powder coatings market. These are mostly used when component range is quite heterogeneous. If component range varies, there is a risk of discolouration due to high peak temperature. This risk can be reduced with their use as it reduces peak temperature.
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Energy efficient powder coatings are low temperature or low cure coatings. These do not require solvent for application that resolves the problem of sagging. They are used in automobile wheels, aerospace, garden equipment, furniture and job painting industry for timber derivatives and facades. Additionally, it provides resistance from corrosion, chemical, impact and UV rays.
Restriction for energy efficient powder coatings market is short shelf life, limited gloss range, levelling characteristics and storage conditions. It requires climate controlled storage condition that increases the overall cost. Sometimes there is risk of operation with empty hangers as with changes in colour and type of powder coating, changes in oven settings is required that are not cost effective.
The curing temperature is very specific and if curing temperature is lower than requirement, it may lead to unsatisfactory film and hence rejection. After rejection, it needs to be processed again that increases the overall cost and time.
Energy efficient powder coatings is manufactured from various products including, polyester, epoxy and epoxy-polyester (hybrid). Epoxy has good flexibility, adhesion and durability. These have moderate share with their application in electrical industry as dielectric insulators for copper and aluminium conductors.
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Epoxy-polyester has its application in electrical, agricultural, automobile and heavy-duty equipment and has substantial market share owing to its shock resistant and corrosion resistant properties. Polyester has a moderate share in energy efficient powder coatings market with use in furniture and auto parts industry owing to good colour, weather resistance and gloss retention on outdoor exposure.
North America energy efficient powder coatings market has a significant share with growing heavy machinery and manufacturing industry. Europe has shown growth in powder coating with prevalent construction industry. Further, their application has enhanced due to environmental regulations against volatile organic compounds. Latin America shall be witnessing growth with growing furniture and automobile industry.
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Energy efficient powder coatingse market is consolidated with the presence of few big companies holding a large industry share. Major players are AkzoNobel, Jotun, BASF, IGP, PPG Industries, TCI, Kansai Paints, Axalta, Asian Paints, Berger Paints. Companies are heavily investing in research & development activities, mergers, acquisitions and new product launch to increase their share in industry. for instance, AkzoNobel is planning to increase its industry share by separating its two business focussed on speciality chemicals and paints. This would help in reducing their uncertainties & risks and become more focussed.
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