Market Snapshot
2016-2024
2018
Asia Pacific
Asia Pacific
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Market Overview
The powder coatings market is expected to witness a CAGR of above 6% during the forecast period of 2019 – 2024. Major factors driving the market studied are strict regulation against VOC emissions and favorable government initiatives promoting the usage of powder coatings, and accelerating automotive production in Asia-Pacific and Europe. On the flip side, increasing raw material costs is expected to hinder the growth of the studied market.
- The polyester segment dominated the market in 2018 and it is expected to grow during the forecast period, owing to its good weathering resistance making it suitable for exterior applications in various industries.
- In addition, planned investments in automotive production in the Middle East & Africa region, and growing investments in the infrastructure and construction industry in emerging economies in the Asia-Pacific region are likely to provide opportunities for the studied market during the forecast period.
- Asia-Pacific dominated the market across the world, with the largest consumption from countries, such as China, South Korea, and India.
Scope of the Report
The powder coatings market report includes:
| Resin Type | |
| Acrylic | |
| Epoxy | |
| Polyester | |
| Polyurethane | |
| Epoxy-Polyester | |
| Other Resin Types |
| End-user Industry | |
| Architecture and Decorative | |
| Automotive | |
| Industrial | |
| Other End-user Industries |
| Geography | |||||||
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Key Market Trends
Industrial Segment to Witness Strongest Growth among End-user Industries
- Industrial demand for powder coatings stands to be the highest among all the end-user industries. Besides, the segment is also expected to witness the highest growth during the forecast period, due to the extensive industrial application of powder coatings.
- The appliance industry makes up the largest portion of the powder coating market, accounting for more than two-fifths of all industrial powder coated parts.
- Powder coating is popular within this segment due to its two-fold benefit of being both aesthetically pleasing, as well as resistant to abrasion and corrosion.
- Some of the more common appliance applications of powder coatings include microwaves and refrigerators, vending machines, and washers and dryers.
- With the growing income levels, and innovation leading to technological advancement across the world, the demand for such products has been increasing. This is leading to increase in the production of such appliance, which is further creating demand for the powder coatings from the appliance industry.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global market share in 2018. Growing income levels, growing investments into the automotive industry, and increasing migration in search of jobs is driving the construction activities and demand for industrial goods. This, in turn, is driving the demand for powder coatings market in the region.
- The automotive industry has been witnessing strong growth in the countries, such as India, Indonesia, Malaysia, and Thailand, due to growing investments by the automotive producers.
- Besides, construction industry growth in these countries is fueled by the growing service industry in the region, leading to an increase in migration, growing population, and shortage of residential houses in the region.
- Moreover, rising income levels and growth in migration for jobs have also created a market for industrial goods, such as fridge, air conditioners, and washing machines.
- Hence, with such robust demand and growth of above mentioned end-user industries, the demand for powder coatings from such industries has been increasing in the region simultaneously.
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Competitive Landscape
The powder coatings market is a fragmented market, with numerous players holding a small share of market demand. Some of these major players include Akzo Nobel NV, BASF SE, Sherwin Williams, PPG Industries, Lonza Group Ltd, and Royal DSM among others.
Major Players
* Complete list of players covered available in the table of contents below
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Strict Regulation against VOC Emissions and Favourable Government Initiatives Promoting the Use of Powder Coatings
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4.1.2 Accelerating Automotive Production in Asia-Pacific and Europe
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4.2 Restraints
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4.2.1 Increasing Raw Material Costs
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4.3 Industry Value-Chain Analysis
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4.4 Porter's 5 Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Resin Type
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5.1.1 Acrylic
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5.1.2 Epoxy
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5.1.3 Polyester
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5.1.4 Polyurethane
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5.1.5 Epoxy-Polyester
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5.1.6 Other Resin Types
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5.2 End-user Industry
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5.2.1 Architecture and Decorative
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5.2.2 Automotive
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5.2.3 Industrial
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5.2.4 Other End-user Industries
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 Italy
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5.3.3.4 France
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5.3.3.5 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East & Africa
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5.3.5.1 South Africa
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5.3.5.2 Saudi Arabia
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5.3.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 AkzoNobel
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6.4.2 Alpha Coating Technologies
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6.4.3 Asian Paints PPG Pvt Limited
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6.4.4 Axalta Coating Systems LLC
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6.4.5 BASF SE
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6.4.6 Berger Paints India Limited
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6.4.7 Cardinal
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6.4.8 IGP Pulvertechnik AG
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6.4.9 Jotun
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6.4.10 Kansai Paint Co. Ltd
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6.4.11 National Paints Factories Co. Ltd
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6.4.12 Nippon Paint Holdings Co. Ltd
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6.4.13 PPG Industries Inc.
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6.4.14 Protech Powder Coatings Inc.
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6.4.15 RPM International Inc. (TCI Powder Coatings)
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6.4.16 ShawCor Ltd
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6.4.17 Sak Coat
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6.4.18 The Sherwin-Williams Company
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6.4.19 United Coatings Industries
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Planned Investments in Automotive Production in Middle East & Africa
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7.2 Growing Investments in the Infrastructure and Construction Industry in the Emerging Economies of the Asia-Pacific Region
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