Powder Coatings Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Resin type (Thermoset, Thermoplastic); Coating Technology (Electrostatic Spray, Fluidized Bed); End Use Industry (Appliances, Automotive, General Industrial, Architecture, Furniture, Others) and Geography
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MARKET OVERVIEW
Powder coating is a method of applying a dry coating material to a surface using a dry finishing technique. The coating material is made up of finely ground resin particles, color pigments, and other additives for particular functions like gloss and hardness. Powder coatings are available in a wide range of colors, thicknesses, finishes, and textures and can be applied to metallic and non-metallic substrates.
MARKET SCOPE
The "Global Powder Coatings Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the powder coatings market with detailed market segmentation by resin type, coating technology and end use industry. The report provides key statistics on the market status of the leading powder coatings market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on resin type, the global powder coatings market is segmented intothermoset, thermoplastic.
- On the basis of coating technology, the market is segmented into electrostatic spray, fluidized bed.
- Based on end use industry, the market is bifurcated into appliances, automotive, general industrial, architecture, furniture, others.
MARKET DYNAMICS
Drivers
- Due to excellent performance, low operating costs, color availability, and custom properties such as anti-corrosion and anti-bacterial functions, high adoption of powder coatings in the furniture sector will drive market growth for the powder coating industry.
- One of the fastest-growing markets for powder coatings is the architectural and building market, primarily due to the durability provided by powder coatings. With the wide variety of colors and finishes available in powder coatings, more and more construction companies are turning to powder coatings, in order to provide long-term exterior finishes for outdoor venues and public work projects.
- Powder coatings are used in a wide range of industries, including automotive, electronics, furniture, architectural, and general industrial, and these factors are propelling the powder coating market forward.
Restraints
- Thermoplastic and thermoset resins are used as raw materials in powder coating production. Raw material price volatility affects powder coating raw material pricing and serves as a barrier to architectural coatings in building applications.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The powder coatings market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the powder coatings market in these regions.
IMPACT OF COVID-19 ON POWDER COATINGS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the powder coatings market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from powder coatings market are anticipated to lucrative growth opportunities in the future with the rising demand for powder coatings in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the powder coatings market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- PPG Industries, Inc.
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- Axalta Coating Systems, LLC
- Jotun A/S
- Arkema S.A.
- zigmapaints.com
- Prominent Powder Pvt. Ltd.
- Tulip Paints
- The Powder Coating Institute
- Nivera Paints (India) Pvt. Ltd.
- IFS coating
- HMG Powder Coatings Limited
- OK Color.
- Bowker Machinery Ltd
- Thermaset Ltd
- Paramount Powders
- THOMAS HOWSE LIMITED
- Colour Dynamics
- Zhejiang Huacai Advanced Material CO., LTD.
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.