PUBLISHER: Grand View Research | PRODUCT CODE: 1224635
PUBLISHER: Grand View Research | PRODUCT CODE: 1224635
The global powder coating equipment market size is anticipated to reach USD 4,329.0 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.0% from 2023 to 2030. The market for powder coatings equipment has experienced significant growth over the past few years as a result of the expansion of the manufacturing and construction industries as well as the increased need for more environmentally friendly solutions.
The need for powder coating equipment is driven by the development of technologies that address the constant issues of cost and manufacturing efficiencies. For instance, the growth and expansion of compact process systems are systems that have the potential to reduce overall processing costs. These systems include coatings with dual-layer functionality, dry-on-dry cure, faster curing periods, and lower cure technologies for metal and plastic. Additionally, the industry has developed cutting-edge technologies that enable the use of powder on medium-density fiberboard (MDF) and wood substrates as well as providing improved corrosion protection for metal. These aforementioned factors are expected to fuel the market demand.
Customers are continuously working to increase process efficiencies, such as by reducing coating stages or more effectively utilizing coating materials, and this is further likely to fuel the demand for sustainable solutions. Furthermore, it is projected that throughout the course of the forecast period, the market demand would increase as a result of new breakthroughs in powder coating technologies that produce ultra-matte, hammered effects, textures, and chrome looks.
Powder coating equipment is being increasingly widely used in new applications. For instance, it's the reduced baking temperatures that have made it possible to work with new substrates including plastic, MDF, and wood. Improvements in application equipment and process control, which provide a larger range of application areas such as dry-on-dry systems, are strongly supporting this trend and are expected to upsurge demand for powder coating equipment over the projected period.
Most manufacturers are seeking collaborations, mergers & acquisitions to develop advanced and innovative solutions. For instance, Gema Switzerland GmbH introduced OptiFlex Pro manual units with power boost technology in January 2022 to improve manual powder coating performance. At the stroke of a button, this power boost feature provides 110 kV and 110A of high-voltage power. The OptiFlex Pro units are created for ergonomic operation and optimal industrial adaptability.