Powder Coatings Market Size By Resin, Application, Substrate, Share & Forecast 2020-2025 | AkzoNobel, Evonik, BASF, PPG Industries, Valspar, Jotun, Axalta, Asian Paints

As per the latest report, Powder Coatings Market size is projected to hit USD 17 billion by the end of 2025 and to grow 7% CAGR over the forecasts timeframe. Some of the trends that will be responsible for the growth of this market are stated underneath.

The latest technologies and innovations to produce more user-friendly home appliances for making everyday tasks as easy as possible, will drive the home appliance demand, subsequently augmenting powder coatings market share over the forecast timeframe.

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In the era of digitization, the global powder coatings market is predictably striving to keep up with the radical transformations being brought in by an all new concept- Industry 4.0. These are being undertaken on a number of fronts including the likes of automation controls linking machines together, deploying better material handling techniques, launch of new products embedded with precision technologies, and several others.

Not to mention, powder coatings market is also massively driven by the technological progressions ongoing in the field which has led in exceptional performance upgradation of numerous products being unveiled by various industry majors. AkzoNobel’s Interpol brand, for instance, announced launching new 3D imaging technology designed for opting the perfect and suitable powder coating for various industry consumers.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. AkzoNobel
2. Asian Paints
3. BASF
4. Kansai Paints
5. PPG Industries
6. RPM International
7. The Valspar Corporation
8. Dulux Powder & Industrial Coating
9. Dupont Coating & Colour Technologies Group
10. Jotun Powder Coatings
11. Somar Corporation
12. Marpol
13. Nippon Paint
14. Hentzen Coating
15. Evonik Industries

Volatile organic compounds (VOCs) are mostly emitted from solvent based coatings, paints and other chemicals used across several industries. Rapid urbanization trends have been encouraging the implementation of these solvent based products including paints, varnish, cleaning solutions which has escalated the VOCs levels above the threshold limit.

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With respect to resin landscape, the thermoset resin segment is expected to witness rapid growth by the end of the analysis timeframe due to excellent durability, superior mechanical properties, and UV resistance. The increasing use of components like radiator grills, metallic structural components, wheel bumpers and rims, wipers, door handles, and horns, in automobiles, will boost the segmental growth in the powder coatings market over the coming years.

In terms of substrates, in 2018 non-metal substrates segment was valued at approximately $530 million and is likely to showcase tremendous growth over the coming years. The product is gaining traction due to the launch of low weight specialized platforms like MDFD (Medium-density-Fiberboard). Non-metal substrates however, also boast of functional advancements like chalking resistance, gloss retention, scratch resistance, and durability that will further fuel their demand across a widespread application range.

In terms of application landscape, in 2018 automotive and transportation component applications segment accounted for nearly 16% of revenue share and is likely to grow at a substantial rate over the coming years. Growing preference for powder coatings among automotive manufacturers due to the fact that they provide enhanced aesthetic appearance, corrosion resistance, and cost benefits will stimulate powder coatings market growth. In addition, the need to avoid corrosion in door handles, rims, and under hood components will propel the product application scope.

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