New Tools and Technology Development will drive Powder Coatings Market in coming years

 Powder Coatings Market: Overview 

According to a new report by Reports and Data, the global Powder Coatings Market size was valued at USD 11.78 Billion in 2019 and is forecast to account for USD 19.45 Billion in terms of revenue, delivering a CAGR of 6.2% through 2027. The market growth is driven by escalating demand for powder coatings from automotive, shipbuilding, and pipeline industries, primarily due to its impressive properties such as scratch resistance, glossy look, and durability. 

The powder-coating process entails the application of electrostatically charged particles on top of the surface of the substrate with the help of powder coating equipment. As powder coatings are composed of solid coating material in entirety, applying a coating of a specific thickness can be achieved with fewer applications of powder. Powder coatings can be used on a variety of substrates, including non-metallic or metallic materials varying in thicknesses, colors, textures, and finishes. As compared to conventional liquid coatings, powder coatings can be easily applied in much higher thicknesses without dipping, sagging, and running.   

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Powder coatings are solvent-free coating systems that release nearly negligible amounts of VOCs, making it highly environmentally friendly as compared to solvent-based liquid painting solvents. A paradigm shift towards eco-friendly products will supplement the powder coasting market share over the forecast period. However, expenses in terms of energy consumption and production cost may be a hindrance to the market growth.

Powder Coatings Market: Regional Outlook: 

In 2019, The Asia Pacific region held the highest market share and is likely to grow exponentially through 2027 on account of the rising demand for powder coating technologies in various end-use industries, including electronics, automobiles, and others. Europe is forecast to grow at 5.6% over the analysis period.  

North America is anticipated to contribute significantly to the market share, delivering a CAGR of 4.7% through 2027 on account of extensive product demand for architectural applications in the United States.  

Impact of COVID-19 on the Powder Coatings Market: 

The impact of the COVID-19 pandemic is expected to be high in the Paints and Coatings sector. This sector accounts for a major share of the powder coatings market. The pandemic has led to the temporary shutdown of various production plants and the closing of business segments. Also, the increased production value for producing even small quantities of the product is negatively impacting the industry growth. 

Resin Type Outlook:

On the basis of resin type, the market share is segmented into thermoplastic and thermosets. The thermoset resin type segment accounted for ~60% of the market share in 2019 and is estimated to register a CAGR of 6.6% through 2027. 

Coating Type Outlook: 

Based on coatings type, the market size is bifurcated among electrostatic spray coating, electrostatic fluidized bed process, flame spraying, and fluidized bed coating. The electrostatic spray coating segment held ~32% of the market share in 2019 and is experiencing high demand due to better speed and finish quality. 

Application Outlook: 

In 2019, the consumer goods applications accounting for ~25% of the overall revenue share.

The automotive applications is estimated to showcase the fastest CAGR of 7.6% through 2027 due to the exponential growth of the automotive sector. 

Substrate Type Outlook:

On the basis of substrate, the market is segmented into metallic, non-metallic, and inter-metallic. The metallic substrates segment accounted for nearly ~70% of the powder coatings market share due to high product demand from the agricultural, automotive, construction & equipment, HVAC, electrical industries, and outdoor furniture industries. 

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Companies profiled in this market report: 

Key players contributing to the powder coatings market share are

  • PPG Industries, Inc.
  • The Sherwin-Williams Company
  • Akzo Nobel N.V.
  • Axalta Coating Systems
  • Nippon Paint Holdings Co., Ltd.
  • Kansai Paint Co., Ltd
  • BASF SE 

For the purpose of this report, Reports and Data has segmented the Global Powder Coatings Market on the basis of resin type, coating type, substrate, application, and region:

Resin Type Outlook (Revenue, USD Billion; 2017-2027)

  • Thermoset
    • Polyester
    • Epoxy Polyester Hybrid
    • Epoxy
    • Acrylic
    • Polyurethane
    • Others (Fluoropolymer)
  • Thermoplastic
    • Nylon
    • Polyolefin
    • Polyvinyl Chloride (PVC)
    • Polyvinyl Fluoride (PVF)

Coating Type Outlook (Revenue, USD Billion; 2017-2027)

  • Electrostatic Spray Coating
  • Fluidized Bed Coating
  • Electrostatic Fluidized Bed Process
  • Flame Spraying

Substrate Outlook (Revenue, USD Billion; 2017-2027)

  • Metallic
    • Nickel
    • Stainless Steel
    • Aluminum
    • Tribological Materials
    • Molybdenum
    • Titanium
  • Non-metallic
    • Polymer
      • Polytetrafluoroethylene
      • Polyethylene
      • Polyester
    • Ceramics
      • Zirconia
      • Titania
      • Alumina
      • Chromia
      • Yttria
    • Intermetallic
      • Ti-Al
      • Ni-Ti
      • Ni-Al
      • Fe-Al

Application Outlook (Revenue, USD Billion; 2017-2027)

  • Consumer goods
  • Architectural
  • Automotive
  • General industries
  • Furniture
  • Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

  • North America
    • S.
  • Europe
    • Germany
    • K.
  • Asia Pacific
    • China
    • India
    • Southeast Asia
  • Latin America
    • Brazil
  • Middle East & Africa

Read News About “Powder Coatings Market Information by Resin type (Thermoset and Thermoplastic), Coating type (Electrostatic Spray Coating, Fluidized Bed Coating, Electrostatic Fluidized Bed Process, Flame Spraying), Substrate, Application and Segment - Forecast 2017-2026” @ https://www.globenewswire.com/news-release/2019/04/18/1806694/0/en/Powder-coatings-Market-To-Reach-USD-18-32-Billion-By-2026-Reports-And-Data.html 

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