Powder Coatings Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Material (Silver, Copper, Polymeric, Organic, and Other Materials), and Application (Building & Construction, Food Processing, Heating, Ventilation & Air Conditioning, Home Appliances, Healthcare, Marine, and Other Applications), and Geography

Market Snapshot

Powder Coatings Market - Market Summary
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The powder coatings market is expected to grow at a CAGR of above 6% during the forecast period of 2019 – 2024. Major factors driving the market studied are strict regulation against VOC emissions & 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 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 infrastructure & construction industry in emerging economies in Asia-Pacific region are likely to provide opportunities for the studied market during the forecast period.
  • Asia-Pacific dominated the market across the globe 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
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
South Africa
Saudi Arabia
Rest of Middle East & Africa

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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 highest growth during the forecast period, due to extensive industrial application of powder coatings.
  • The appliance industry makes up the largest portion of the powder coating market, accounting for more than two-fifth 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 includes microwaves & refrigerators, vending machines, and washers & dryers.
  • With the growing income levels, and innovation leading to technological advancement across the globe, the demand for such products have 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.
Powder Coatings Market - Segmentation

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share in 2018. Growing income levels, growing investments into automotive industry, and increasing migration in search of jobs is driving the construction activities and demand for industrial goods; this in turn are driving the demand for powder coatings market in the region.
  • 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 increase in migration; growing population; and shortage of residential houses in the region.
  • Moreover, rising income levels, and growth in migration for jobs has also created 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 have been increasing in the region simultaneously.
Powder Coatings Market - Regional Trends

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Competitive Landscape

The powder coatings market is a fragmented market, with numerous players holding small share of market demand. Some of these major players include Akzo Nobel N.V., BASF SE, Sherwin Williams, PPG Industries, Lonza Group Ltd., and Royal DSM, among others.

Major Players

  1. Akzo Nobel N.V.
  2. Axalta Coating Systems LLC
  3. The Sherwin-Williams Company
  4. PPG Industries Inc.
  5. Jotun

* Complete list of players covered available in the table of contents below

Powder Coatings Market - Market Concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Strict Regulation against VOC Emissions and Favourable Government Initiatives Promoting the Use of Powder Coatings

      2. 4.1.2 Accelerating Automotive Production in Asia-Pacific and Europe

    2. 4.2 Restraints

      1. 4.2.1 Increasing Raw Material Costs

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Resin Type

      1. 5.1.1 Acrylic

      2. 5.1.2 Epoxy

      3. 5.1.3 Polyester

      4. 5.1.4 Polyurethane

      5. 5.1.5 Epoxy-Polyester

      6. 5.1.6 Other Resin Types

    2. 5.2 End-user Industry

      1. 5.2.1 Architecture and Decorative

      2. 5.2.2 Automotive

      3. 5.2.3 Industrial

      4. 5.2.4 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AkzoNobel

      2. 6.4.2 Alpha Coating Technologies

      3. 6.4.3 Asian Paints PPG Pvt Limited

      4. 6.4.4 Axalta Coating Systems LLC

      5. 6.4.5 BASF SE

      6. 6.4.6 Berger Paints India Limited

      7. 6.4.7 Cardinal

      8. 6.4.8 IGP Pulvertechnik AG

      9. 6.4.9 Jotun

      10. 6.4.10 Kansai Paint Co. Ltd

      11. 6.4.11 National Paints Factories Co. Ltd

      12. 6.4.12 Nippon Paint Holdings Co. Ltd

      13. 6.4.13 PPG Industries Inc.

      14. 6.4.14 Protech Powder Coatings Inc.

      15. 6.4.15 RPM International Inc. (TCI Powder Coatings)

      16. 6.4.16 ShawCor Ltd

      17. 6.4.17 Sak Coat

      18. 6.4.18 The Sherwin-Williams Company

      19. 6.4.19 United Coatings Industries

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Planned Investments in Automotive Production in Middle East & Africa

    2. 7.2 Growing Investments in the Infrastructure and Construction Industry in the Emerging Economies of the Asia-Pacific Region

**Subject to Availability

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