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Powder Coating Market By Resin (Epoxy, Polyester, Epoxy-Polyester, Acrylic, Polyurethane), By Application (Consumer Goods, Automotive, Architectural, General Industries, Furniture) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2023

The global market for powder coating is projected to grow significantly for the next six years owing to its various superior properties when compared to conventional paints and rising demand for powder coating from various end-use sectors, such as automotive, furniture, and appliances, among others. Support from regulatory bodies such as the U.S. Environmental Protection Agency (EPA) and Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) is also contributing to market growth.

However, thin films are difficult to obtain, which is the major factor inhibiting the market growth. Emerging economies, such as Brazil, India, China, Malaysia, and many GCC countries, offer huge untapped market potential. Furthermore, technological advancements will create a massive market opportunity over the next six years.

By applications, in 2015, consumer goods accounted for a major chunk of the market pie in terms of demand. Rising demand for domestic appliances such as refrigerators, washing machines, microwave ovens, air conditioners, and freezer cabinets is also projected to augment market growth. Surging vehicle production in Germany, Malaysia, Brazil, and China, along with a rise in demand for luxury cars. The automotive segment is projected to grow at the fastest rate during the forecast period of 2016 to 2023. The furniture segment is projected to grow at the second fastest rate during the forecast period.

By resin type, polyester, due to its superior mechanical properties, accounted for the largest chunk of the market pie in terms of demand in 2015. It is also projected to maintain its dominance during the forecast period. However, growth is projected to be highest in the polyurethane segment due to its high retention and resistance properties. Epoxy-polyester is another lucrative segment with high growth potential.

In 2015, Asia Pacific accounted for more than 45% of the market in terms of demand. It is also projected to be the fastest-growing market owing to the high demand for high-end luxury cars, industrial appliances, and metal furniture. In 2015, North America accounted for the second-largest share but was projected to grow at a below-average rate during the forecast period due to its long-time presence and awareness of liquid coatings.

In Europe Western Europe has a highly mature market, but Eastern Europe offers huge untapped market potential. Due to rising demand for commercial vehicles, the Middle East and Africa are expected to grow at a rapid pace during the forecast period.

The report titled "Global Powder Coating Market: Growth, Future Prospects, and Competitive Analysis, 2016–2023" offers strategic insights into the global powder coatings market along with the market size and estimates for the duration of 2013–2023. The said research study covers an in-depth analysis of multiple market segments based on resin type, application type, and a cross-sectional study across different geographies.

The study covers the comparative analysis of different segments for the years 2015 and 2023. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.

The report also includes profiles of the leading powder coatings manufacturers, as well as their product portfolios and key developments, to assist strategic decision-makers. The major players profiled in the report are AkzoNobel, PPG Industries, Sherwin-Williams, Valspar Corporation, Axalta Coating Systems, Nippon Paint, and Arkema, among others.

Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the powder coatings industry
  • Market fuelers, market impediments, and their impact on market growth
  • in-depth competitive environment analysis
  • Trailing 2-year market size data (2013–2014)
  • SRC (Segment, Region, Country) Analysis

Overall, the research study provides a holistic view of the global powder coatings market, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above-mentioned factors.

The global powder coatings market can be categorized on the basis of resin type as follows:

  • Epoxy
  • Polyester
  • Epoxy-Polyester
  • Acrylic
  • Polyurethane
  • Others

There are two types of resin in powder coatings, namely thermosetting plastics and thermoplastics. Thermosetting resins, owing to their higher stability when compared to their thermoplastic counterparts, account for a higher market share. The thermosetting resin segment includes epoxy, polyester, epoxy-polyester, acrylic, and polyurethane.

By resin type, polyester accounted for the largest share of more than 30% in 2015 in terms of volume and value. Owing to its superior properties and high weathering, UV resistance, and exterior durability, polyester is projected to maintain its market share during the forecast period of 2016 to 2023. On the other hand, owing to its enduring resistance to corrosion and humidity in thin film applications, polyurethane is projected to be the fastest-growing resin type. In 2015, polyurethane generated revenue of more than $800 million. Epoxy–polyester resin type is also projected to witness substantial growth during the forecast period of 2016 to 2023.

The global powder coatings market can be categorized on the basis of application as follows:

  • Consumer Goods
  • Automotive
  • Architectural
  • General Industries
  • Furniture
  • Others

In 2015, by application type, consumer goods dominated the market, as coatings help provide flexible finishing and consistency. This application generated over $ 3.0 billion in revenue in 2015 and is expected to maintain its market dominance for the next six years. Moreover, rising demand for industrial and household appliances such as microwaves and washing machines is projected to augment segment growth. The consumer goods application was followed by the general industries application, which accounted for more than 15% of the market in terms of revenue.

However, growth is projected to be fastest from automotive applications owing to strong vehicle production growth and rising demand for high-end cars, especially from emerging economies such as India, China, Brazil, and Malaysia, among others. The furniture segment is projected to grow at the second fastest rate during the forecast period of 2016 to 2023.

On the basis of geography, the global powder coatings market is segmented into the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • U.K.
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • India
    • China
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Asia Pacific is the largest and fastest-growing region owing to rising demand for powder coatings from end-use sectors such as automotive, electronics, and furniture, among others. In terms of revenue, it controlled 46.26% of the market in 2015. In Asia Pacific, economies such as China, India, Vietnam, Taiwan, Thailand, and South Korea, owing to the growing population coupled with a rise in disposable income, offer huge market potential.

The European market is projected to witness growth owing to surging automobile production in economies such as Germany, the UK, and Romania. The Middle East and Africa are expected to see significant growth due to rising demand for commercial vehicles. However, the North American region, with more than 80% of the demand for powder coatings coming from the U.S., is projected to witness more strategic initiatives owing to its mature market demand. Latin America is a relatively underdeveloped market and is projected to grow at a below-average rate.

Frequently Asked Questions:

The market for Powder Coating Market is expected to reach US$ 8.70 Bn By 2023.

The Powder Coating Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2016-2023.

The base year of this report is 2015.

Sherwin-Williams, Valspar Corporation, Axalta Coating Systems, Nippon Paint, and Arkema are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Dec 2016
Category:  Chemicals
Report ID:   58264
Report Format:   PDF
Pages:   120
Rating:    4.4 (60)
Delivery Time: 24 Hours to 48 Hours   
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