According to the new market research report by IndustryARC titled “Powder Coatings Market: By Type of Coatings (Epoxy, Polyester, Polyurethanes, Acrylics and Others); By Process (Spray Coating, Fluidized Bed Coating and Others); By Application (Automotive, Architectural, Appliances, General Metal Finishing and Others); & Country Analysis -Forecast (2018-2023)”, the market is being driven by Advances in the semiconductor, networking and material science technologies.
The market for global powder coatings was $9.97 billion in 2017, and is anticipated to see an upsurge during the forecast period to reach $14.20 billion by 2023, growing at a CAGR of 6.08% in between 2018 to 2023, with respect to revenue and in terms of volume the market will reach 4.19 million metric tons by 2023, growing at a CAGR of 5.95% during the forecast period from 2.96 million metric tons in the year 2017.
Asia-pacific continues to lead the market share and growth during 2018-2023.
APAC is the major shareholder with nearly 50% share in the global powder coatings market, due to increasing automotive and manufacturing industry in the region. APAC dominated the powder coatings market with a share of approximately 47% in 2017, generating revenue of $4.72 billion in the same year. The APAC market is forecast to grow at a CAGR of 7.43% to reach $7.27 billion by 2023, which is mainly attributed to the growing demand from manufacturing and automotive industry. APAC is also projected to register fastest growth rate, followed by Americas and Europe at 6.5% and 4.53% CAGR respectively.
Among all the Applications, the general metal finishing segment is dominating the market that held $2.928 billion in 2017, and is estimated to reach $4.193 billion by 2023.
Selected / Sample Analysis done in the full Report:
- The prices of various powder coatings resins existing in the market are enlisted, and a forecast analysis has been done based on the various trends in the market. Price for other type of coatings such as UV cured and green coatings are the highest among the counterparts and are estimated to grow. This price trend is being followed across the industry.
- The price of Powder Coatings seems to see an upsurge in the forecast period due to escalating demand of these coatings in developing countries. With raw materials representing the largest component of direct costs for architectural coatings production, rising costs for any of the key inputs can have a dramatic effect on a formulator’s profitability.
- While raw material cost savings typically represent a major source of synergies in an acquisition, manufacturing efficiencies also provide impetus for M&A. For example, a formulator with excess production capacity can acquire a capacity-constrained manufacturer without needing to invest significantly in incremental equipment.
- Powder coatings do not generally require sophisticated equipment to manufacture, so production for acquired product lines often can be transferred to an acquirer’s production facilities with relative ease.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
- The growing automotive industry in the APAC region is another factor responsible for the growth of the powder coatings market whereas electronics and marine industries are contributing to this ongoing dynamic.
- Automotive and general industrial manufacturing industry has been the prominent end-use industry for powder coatings in Americas, mainly driven by the strong infrastructural industry and rise in re-shoring trend.
- With increasing industrialization, the commercial infrastructure is set to rise in South Africa and Nigeria, which will consequently fuel the demand for powder coatings.
- Increased adoption of powder coatings in the automobile industry is set to propel the demand for the powder coatings market.
- The key driving factors affecting the coatings industry worldwide are the rising needs in the construction, Medical & healthcare and automotive sectors. The automotive sector is the next largest consumer in the U.S. after construction. It is worth observing that some industrial and specialty purpose sectors are also doing well, as well as contributing to the development of paint and coatings market in the U.S.
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Key Players of the Powder Coatings Market:
The key companies in the industry include Axalta, Akzo Nobel N.V, Sherwin Williams Corporation and many others. The industry being new, coatings suppliers indulge into evolving, in order to meet the challenges of regulations, growing consumer demands, increased emphasis on sustainable products, globalization, cost pressures and more. AkzoNobel through its broad range of products, constant product launches and innovation have been successful in catering to a variety of customers and consequently maintaining their hold over the market. PPG Industries Inc. has been successful in catering to industrial and manufacturing needs, but their stronghold in the automotive sector is the primary reason as to why they are amongst the leading suppliers. Monitoring their future business involvements, IndustryARC analysts expect PPG Industries to maintain its position in the market.
Powder Coatings Market Report is Segmented as below.
- Powder Coatings Market By Coating Resins:
- Pure Polyester (TGIC)
- Hydroxyl Polyester (TGIC free)
- Epoxy Polyester
- Powder Coatings Market By Coating Resins:
- Electrical and Electronics (Consumer Appliance, HVAC incl.)
- General Metal
- Agriculture and Construction Equipment
- Jobcoaters (Industrial Finishing)
- Powder Coatings Market By Geography ( Covers 20+ Countries )
- Powder Coatings Market Entropy
Companies Citied / Interviewed
- THE SHERWIN-WILLIAMS COMPANY
- AXALTA COATING SYSTEMS, LLC
- KANSAI PAINT CO.,LTD
- NIPPON PAINT HOLDINGS CO., LTD.
- RPM INTERNATIONAL INC. (RUST-OLEUM)
- TIGER DRYLAC U.S.A., INC.
- Company 10+
- Conformal Coatings Market
- Precipitated Silica Market
What can you expect from the report?
The Powder Coatings Market Report is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories
- Market trends
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End user Analysis
- Product Benchmarking
- Product Developments
- Merges & Acquisition Analysis
- Patent Analysis
- Demand Analysis ( By Revenue & Volume )
- Country level Analysis (10+)
- Competitor Analysis
- Market Shares Analysis
- Value Chain Analysis
- Supply Chain Analysis
- Strategic Analysis
- Current & Future Market Landscape Analysis
- Opportunity Analysis
- Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country, or application based reports in Powder Coatings Market?
Response: Yes, we do have separate reports and database as mentioned below:
- North America Market for Powder Coatings (2018-2023)
- Europe Market for Powder Coatings (2018-2023)
- Asia-Pacific Market for Powder Coatings (2018-2023)
- Automotive Market for Powder Coatings (2018-2023)
- General Metal Market for Powder Coatings (2018-2023)
- Architectural Market for Powder Coatings (2018-2023)
- Furniture Market for Powder Coatings (2018-2023)
- Job coaters Market for Powder Coatings (2018-2023)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization
- Increase the level of data in application or end user industry.
- Increase the number of countries in geography or product chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interest.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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