The market for powder coatings was valued at US$ 12.72 billion by 2021 and is anticipated to expand at a Y-o-Y rate of 5.0% in 2022 to reach US$ 13.48 billion. Additionally, growth is anticipated to pick up dramatically between 2022 and 2032, with a 6.0% CAGR, reaching US$ 24.15 billion.
A growing population and rising disposable income among customers have led to an increase in demand for goods including furniture, electronics, industrial and home appliances, agricultural machinery, and automobiles. Engine parts, pipes, fixtures, metal components utilised in home appliances, and other surfaces are all coated with powder. As a result, there is a rising need for powder coatings in these nations due to an increase in the demand for finished items.
The offer in this portion accompanies many open doors including fabricating items, appropriation, retail, and showcasing administrations. Broad rounds of essential and far reaching optional exploration have been utilized by the examiners at Fact.MR to show up at different assessments and projections for Demand of Powder Coatings Market both at worldwide and provincial levels.
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Market Players: –
- PPG Industries
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- Axalta Coating Systems LLC
- Jotun A/S
Powder Coatings Market – Competitive Landscape
Prominent players in the Powder Coatings Industry are taking advantage of the rapidly increasing demand for the Powder Coatings in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors. Some prominent market developments are as follows:
- In April 2022, PPG Industries announced that it had completed the acquisition of the powder coatings manufacturing business of Arsonsisi, an industrial coatings company based in Milan, Italy.
- In September 2021, Covestro’s Ultra series of coating hardeners was used by BASF’s Coatings division. As a result, BASF was able to improve its refinish coatings portfolio to meet the strict occupational safety regulations for isocyanate usage.
- In May 2021, PPG launched CORAFLON platinum coatings for architectural metals. Compared to standard fluoroethylene vinyl ether coatings, the patented coatings technology provides high transfer efficiency rates of over 20% and improved corrosion resistance. PPG CORAFLON Platinum products are available globally in various colors, glosses, micas, and metallic finishes.
- In June 2021, AkzoNobel announced its plan to acquire Grupo Orbis to strengthen its South and Central America position. Depending on regulatory clearances, the acquisition is anticipated to be completed by the end of this year or early in 2022. Pintuco paints and coatings, Andercol and Poliquim (resins), and Mundial (distribution and services) are all part of the deal.
Key Segments Covered in the Powder Coatings Industry Survey
- By Resin :
- Epoxy-Polyester (Hybrid)
- Epoxy Polyester
- By Application :
- Consumer Goods
- General Industries
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)