PUBLISHER: The Business Research Company | PRODUCT CODE: 1209932
PUBLISHER: The Business Research Company | PRODUCT CODE: 1209932
“Powder Coatings Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on powder coatings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for powder coatings ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The powder coatings market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: AkzoNobel N.V.; PPG Industries; Sherwin Williams ; BASF SE; Axalta Coating Systems
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Major players in the powder coatings market are: AkzoNobel N.V., PPG Industries, Sherwin Williams, BASF SE, Axalta Coating Systems, Kansai Nerolac Paints Limited, Jotun, IFS Coatings, The Valspar Corporation, Asian Paints, and RPM International
The global powder coatings market will grow from $17.82 billion in 2022 to $19.15 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The powder coatings market is expected to grow from $24.79 billion in 2027 at a CAGR of 6.7%.
The powder coating market consists of the sales of epoxies, polyesters, super durable polyesters, epoxy-polyester hybrids, fluoropolymers, and urethanes powder coatings. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Powder coating is a finishing process that keeps the binder and filler parts in a liquid suspension form. Powder coating is generally coated a free-flowing, dry powder electrostatically and then cured under heat or with ultraviolet light.
Asia Pacific was the largest region in the powder coatings market in 2022. Western Europe was the second-largest region in the powder coatings market. The regions covered in the powder coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of powder coatings are thermoset and thermoplastic. Thermoset materials are used in the majority of powder coating techniques because they can offer a durable and beautiful surface layer. The main coating methods are electrostatic spray and the fluidized bed that is applied in appliances, automotive, architectural, furniture, agriculture, construction, earthmoving equipment (ACE), general industrial, and other sectors.
Powder coatings release a negligible amount of volatile organic compounds (VOC) when compared to solvent-based coatings. VOCs are carbon compounds that become gas at room temperature and are the main reason for air pollution. Governments across the world are trying to enforce different regulatory acts to reduce the emissions of VOCs. For instance, to reduce the emission of VOC, the Hong Kong government has implemented a regulation that restricts products that exceed the standard emission of VOC in the country. Thus, limitations on products that generate high VOCs promote the sales of powder coatings, thereby driving the market.
Powder coating is an energy-intensive process that consumes more energy during the curing process. Curing is a chemical process where paint is allowed to dry and harden. The high consumption of energy increases the operating expenses of manufacturing companies. For example, in Sweden, nearly 350 powder coating plants are using more than one metric ton of coating powder, which accounts for the total energy usage of 525 GWh/year, corresponding to 1.5 GWh/year per plant. Thus, the high energy consumption of powder coating restrains the growth of the market.
Companies are now focusing on a new coating technology for heat-sensitive substrates such as medium-density fiberboard (MDF). This technology consumes less power as the curing process is done at a lower temperature compared to the conventional method. For instance, IGP-RAPID, released by IGP, is based on new raw materials combined with IGP technology and enables low-temperature powder coatings at 266°F (130°C) and curing times of 3 minutes. This technology is ecological, enhances product design, and provides long-term functional protection.
The countries covered in the powder coatings market are: Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The powder coatings market research report is one of a series of new reports from The Business Research Company that provides powder coatings market statistics, including powder coatings industry global market size, regional shares, competitors with a powder coatings market share, detailed powder coatings market segments, market trends and opportunities, and any further data you may need to thrive in the powder coatings industry. This powder coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.