Significant presence of automobile sector in developed and developing countries is anticipated to boost the global powder coatings market demand during the forecast period.
The global powder coatings market exceeded USD 10 Billion in 2018. In comparison to traditional painting methods, powder coatings bestows numerous benefits, which can complement the value and viability of the surface finish in a wide range of applications. From the cost of coating to the durability and environmental impact, powder coating is very efficient in offering a high quality finish to the surface. Surfaces of products that are affected from extreme weather conditions, ultraviolet light, moisture, and chemicals, can be protected by using a powder coating, as it is highly resistant to coating types. Powder coating also reduce the risk of fading, scratches, abrasions, chipping, corrosion, and other wear and tear issues.
The global powder coatings market research report determine market demand and scenario between 2015 to 2025. The report features the historic trends from 2015 to 2018 and the market forecast from 2019 to 2025. The report studies the current status and future market prospects of the powder coatings market at both global and country level. In this study, the powder coatings market is segmented by application and geography. The report analyzes a variety of qualitative factors of the global powder coatings industry and lists the market growth drivers, growth inhibitors and noteworthy industry trends. Furthermore, the report offers an in-depth assessment of the market competition with company profiles of global together with the local vendors.
Based on application, the market is categorized into consumer goods, architectural, automotive, general industries, furniture, and others. Consumer goods and automotive together led the market with more than 40% share in 2018. Additionally, these application segments are anticipated to expand at an impressive growth rate on the basis of both consumption and revenue during the forecast period. This is attributed to the significant growth of the automobile production sector in major regions over the recent years. Furthermore, stringent regulations on generation of carbon footprint has also helped in driving the demand for powder coatings that are used on automotive wheels and other parts.
Based on the region, the global powder coating market is segmented into North America, Europe, Asia Pacific, and Rest of the World. The Asia Pacific region led the market in 2018 with over 40% market share, followed by Europe, North America, and Rest of the World (RoW) respectively. During the forecast period, the Asia Pacific region is anticipated to maintain its global market dominance and record the highest incremental growth due to factors such as increasing disposable consumer income and favourable investments in the automotive OEM industry. India, Malaysia, Indonesia, and Thailand have witnessed a strong growth in the automotive industry since the past few years. Furthermore, rising migration for employment and growth in income levels in these countries, has also supported the market demand for consumer electronics such as fridge, air conditioners, and washing machines in this region. As a consequence, the growth of powder coatings market in Asia Pacific has been resilient in the recent years.
The major players of global powder coatings market include PPG Industries, Sherwin-Williams, Nippon Paint, AkzoNobel, Asian Paints, Axalta Coating Systems, Jotun, BASF Coatings, Kansai Paint, etc.
Segment overview of Global Powder Coating Market
By Application Overview, 2015-2025 (Kilo Tons) (USD Million)
- Consumer goods
- General industries
Regional Overview, 2015-2025 (Kilo Tons) (USD Million)
- North America
- Asia Pacific
- Rest of the World