Increase in demand owing to its properties such as durability, scratch resistance, and glossy look is influencing the market growth.
Market Size – USD 11.10 Billion in 2018, Market Growth - CAGR of 6.2%, Market Trends – Rise of environment-friendly coating technologies.
NEW YORK, April 18, 2019 (GLOBE NEWSWIRE) -- The global powder coatings market is expected to reach USD 18.32 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the increase in demand owing to its properties such as durability, scratch resistance, and glossy look which are influencing the market growth. Growing popularity among end users, especially automotive, shipbuilding and pipeline industries, will also encourage the growth of the market. The implementation of stringent regulations across several countries, regarding green and solvent-free coating technologies, will lead to a reduced amount of VOC emissions. This will boost the demand for powder coatings worldwide.
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Powder coatings can be used on a variety of substrates, including metallic and non-metallic materials, having a wide range of colors, thicknesses, finishes, and textures. They can be easily applied in much higher thicknesses compared to conventional liquid coatings without running, dipping, or sagging. Moreover, since powder coatings are composed entirely of solid coating material, applying coating of a specific thickness can be achieved with fewer applications of powder.
Powder coating provides consumers with a long-lasting, economical, and durable finish, along with a range of color choices available for metallic and non-metallic substrates. Moreover, powder coatings are environmental friendly as compared to solvent-based liquid painting solvents that emit volatile organic compounds (VOC). Since powder coatings are solvent-free coating systems, it releases nearly negligible amounts of VOC’s.
Expenses in terms of cost and energy consumption will be a hindrance to the growth of the market.
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Further key findings from the report suggest
- The market is segmented on the basis of coating type into electrostatic spray coating, fluidized bed coating, electrostatic fluidized bed process, and flame spraying. Electrostatic spray coating accounts for the largest market share of ~32% in 2018, due to better finish quality, and speed.
- The market is segmented on the basis of resin type into thermoset and thermoplastic. The thermoset resin type segment holds the larger market share of ~60% in the year 2018 and is forecasted to witness a higher growth rate of 6.6% during the forecast period.
- The market is segmented on the basis of the substrate into metallic, non-metallic and inter-metallic. Metallic substrates account for about ~70% of the market, due to its demand from the automotive, agricultural, construction & equipment, outdoor furniture, HVAC, and electrical industries.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America, and MEA. The Asia Pacific region accounted for the highest market share of ~40% in 2018. Rising disposable income and the growing population will positively affect the demand for powder coating technologies in automobiles, electronics, and other industries.
- Key participants include PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Axalta Coating Systems, BASF SE, Nippon Paint Holdings Co., Ltd., and Kansai Paint Co., Ltd, among others.
- The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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For the purpose of this report, Reports and Data have segmented global powder coatings Market on the basis of resin type, coating type, substrate, application, and region:
Resin type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
- Thermoset
- Polyester
- Epoxy Polyester Hybrid
- Epoxy
- Acrylic
- Polyurethane
- Others (Fluoropolymer)
- Thermoplastic
- Nylon
- Polyolefin
- Polyvinyl Chloride (PVC)
- Polyvinyl Fluoride (PVF)
Coating type Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Electrostatic Spray Coating
- Fluidized Bed Coating
- Electrostatic Fluidized Bed Process
- Flame Spraying
Substrate Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Metallic
- Nickel
- Stainless Steel
- Aluminum
- Tribological Materials
- Molybdenum
- Titanium
- Non-metallic
- Polymer
- Polytetrafluoroethylene
- Polyethylene
- Polyester
- Ceramics
- Zirconia
- Titania
- Alumina
- Chromia
- Yttria
- Intermetallic
- Ti-Al
- Ni-Ti
- Ni-Al
- Fe-Al
- Polymer
Applications Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Consumer goods
- Architectural
- Automotive
- General industries
- Furniture
- Others
Regional Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- South-east Asia
- Latin America
- Brazil
- MEA
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