Powder Coatings Market 2016: Global Industry Insights, Statistics, Market shares and Forecasts to 2022

Powder coating is a dry finishing process in which fine particles of paint are electrostatically charged and sprayed onto a workpiece. Powder coatings possess various properties such as significant durability along with resistance to abrasion, corrosion, scratching, and chemicals. They meet various requirements of end-user industries such as unlimited color selection, high and low gloss, metallic and clear finishes, and texture choices such as rough textures, smooth surfaces, wrinkled, and matte finishes to hide surface imperfections. Powder coatings not only maximize production, but they also improve coating efficiency and cut coating costs, as over-sprayed powder coating can be retrieved and re-used as compared to liquid coatings.

The powder coatings market is driven by factors such as supporting environmental regulations, increasing demand for appliances, booming construction industry, increasing adoption of powder coatings over liquid coatings, and rapid economic growth in emerging countries. Powder coatings offers superior finish and durability, which leads to increased life of coated products. They are highly desirable from an ecological standpoint as they are manufactured and applied without the use of organic solvents. All these factors are expected to supplement the market. However, powder coatings are not compatible in thin layer coatings applications, which is a major restraint to the market.

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On the basis of resin type, the powder coatings market is segmented into thermoset and thermoplastics. The resin types are further sub-segmented into epoxy, polyester, acrylic, epoxy polyester hybrid for thermoset and PVC, Nylon, PVDF, and polyolefin for thermoplastic segment. Majority of the powder coating formulation is based on thermosetting resins, mainly epoxy and polyester, owing to their better outdoor weathering and physical properties.

Based on the coating method, the market is divided into electrostatic spray method and fluidized bed method. Electrostatic spray is the highly adopted method by the key players. Unlike liquid coatings, powder coatings do not require venting, filtering, or solvent recovery. Strict environmental regulations in the paint and coatings industry drive the market as it does not require solvents, and minor amounts of volatile organic compounds (VOCs) are released during the cure.

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The powder coatings application market is segmented into appliances, architecture, general industrial, furniture, agriculture, construction and earthmoving equipment (ACE), automotive, and others. The appliances application segment was the largest segment in 2015 in terms of volume due to increase in adoption of powder coatings in emerging and developed countries.

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