November 2018: Adroit Market Research launched a study titled, “Global Powder Coating Market Size 2017 By Application (Consumer Goods, Architectural, Automotive, General industries, Furniture and Others), By Region and Forecast 2018 to 2025”. The study covers the global powder coating market value for a period ranging in between 2015 to 2025, where 2015 to 2017 imply the historical value with forecast between 2018 and 2025. The global powder coating market report also includes qualitative insights of the market such as value chain, restrains and drivers.
The global powder coating market size is expected to reach USD 14.70 billion by 2025. As a result of its use in wide range of applications and lower environmental impact. Other valuable benefits such as long lasting life, high durability, cost effectiveness and quality finishing are driving the market for powder coating over traditional liquid paints.
Metal is the major product on which powder coating is used to increase its life and protect it from corrosion. The demand for metal powder coatings is rising in many industries including automotive, furniture, construction, consumer goods and home appliances. These industries are witnessing a considerable gains in annual demand for powder coating driven by rise in sales in emerging economies in Asia Pacific.
Participating companies are focusing on opening new plants and investing in research and development to come up with new products as the demand for the powder coating volume is high. The competition among established players is also getting intense, with new facilities coming online across the world. For instance, in June 2018, Akzo Nobel N.V started its production of powder coating at Changzhou National Hi-Tech District (CND), China facility. The company has invested around 40 million Euros for this facility and designed for an annual capacity output of 46,000 tons.
Asia Pacific dominated the global powder coating market value share by occupying 43.6% in 2017. China, India and South East Asian countries have emerged as industrial hubs over the past two decades and consume large volumes of powder coatings in various manufacturing sectors. In February 2018, AkzoNobel inaugurated powder coating manufacturing plant in Bangalore, India with investment of USD 10 million (9 million Euros).
Fluctuations in currencies and rise in oil prices are directly affecting the paints & coating industry. Thus, increasing the cost for base materials such as epoxy resin and titanium dioxide that are used for the production of powder coatings. As a result of which the production of powder coating is hampered and restraining it from growing further.
The global powder coating industry is fragmented as of 2017. As a strategic step major players are collaborating or acquiring domestic players to expand their presence globally. Moreover, the companies are launching new products to sustain in the market. For instance, In November 2018, Polychem powder coatings launched ten new shades of powder coating collection that include special effects and range of textures. Moreover, in January 2017, a new product Axalta launched Alesta Lync, it is a dry on dry powder coating application with excellent edge corrosion safety, energy efficient process and the capacity to offer two layers of paint with only one cure cycle.
The top players in the global powder coating industry are PPG Industries, Nippon Paint, Sherwin-Williams, AkzoNobel, Jotun, Axalta Coating Systems, Asian Paints, BASF Coatings, Kansai Paint and Valspar.
Key segments of the global powder coating market
Application Overview, 2015-2025 (USD million) (Kilo tons)
- Consumer Goods
- General industries
Regional Overview, 2015-2025 (USD million) (Kilo tons)
- North America
- United Kingdom
- Asia Pacific
- Rest of the World