Powder
coating is a type of coatings based on polymer resin systems. Powder coating is
combined with pigments, leveling agents, flow modifiers, curatives, and other
additives. It is made without organic solvents & thus, does not release
volatile organic compounds or VOCs in the atmosphere during application. It is
used in various automobile applications such as mufflers, door handles,
primers, bumpers, engine parts, shock absorbers, windshield wipers and other
parts. The key benefits are included improved efficiency, impact resistance,
durability, Ultra Violet (UV) ray protection, cost-effectiveness and moisture
& chemical resistance.
According
to study, “World
Powder Coating Market Research Report 2024(Covering USA, EU, China, South East
Asia, Japan and etc)” the key companies operating in the world powder coating
market are The Sherwin-Williams Company, RPM International Inc. (TCI Powder
Coatings), Protech Powder Coatings Inc., ShawCor Ltd., United Coatings
Industries, Sak Coat, PPG Industries Inc., Masco, Akzonobel (RohmandHaas) N.V,
Axalta/Dupont Coating Systems LLC, Midwest Industrial Coatings (MICI), TIGER
Drylac, The Valspar Corporation, Trimite Powders, Nortek Powder Coating, Erie
Powder Coatings, Berger Paints India Limited, IFS Coatings, 3M, American Powder
Coatings, Allnex, Alpha Coating Technologies, Prismatic Powders, Asian Paints
PPG Pvt Limited, Vogel Paint, Hentzen Coatings, Forrest Technical Coatings,
Spraylat Corp., Marpol Private Limited, Durolac Paints, Inc., Whitford Corp.,
BASF SE, Cardinal Paint, Jotun A/S, Maharani Paints Pvt. Ltd., Somar
Corporation, Kansai Paint Company Limited, Titan Paints & Chemicals Ltd.,
Tulip Paints, Rapid Engineering Co. Pvt. Ltd., IGP Pulvertechnik AG, Nippon
Paint Holdings Co. Ltd., National Paints Factories Co. Ltd.
Based
on product type, powder coating market is segmented into thermoset powder
coating and thermoplastic powder coating. Based on resin type, market is
segmented into polyester, acrylic, epoxy, epoxy-polyester hybrid, Polyvinyl
chloride (PVC), polyolefin, nylon and Polyvinylidene Fluoride (PVDF). Based on
substrate, market is segmented into metallic and non-metallic. Based on coating
methods, market is segmented into electrostatic spray coating, electrostatic
fluidized bed process, fluidized bed coating, and flame spraying. In addition,
based on application, market is segmented into automotive & transportation,
appliances, architecture & furniture, construction equipment, consumer
goods, and others.
The
powder coating market is driven by high product quality as compared to liquid
coatings, followed by environmental compliance, growth in various end-use
industries, stringent government regulations, increase in demand for domestic
appliances including freezer cabinet, washing machine & microwave oven and
rise in technological advancements. However, high initial investment, certain
problems associated with the product for instance difficulty to produce thin
film coatings, and lack of suitability on glass & fiberboard substrate may
impact the market. Moreover, increase in use of powder coating in automotive
industry, fluorine resin powder coating, emerge in applications in shipbuilding
& pipeline industries and emergence of new application methods are key
opportunities for market.
Based
on geography, China country holds major share in powder coating market owing to
rise in electrical & electronics industry with improved spending on
consumer electronics, expand in automotive & construction industries in
developing countries and growth in digitalization in the country. The EU and
USA are expected to witness higher growth rate due to rise in demand for VOC
free coatings in automotive industry because of increase in regulations by the
regulatory agencies to reduce VOC emissions over the forecast period.
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