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The global powder coating market size is projected to reach a value of USD 4.19 billion, with an accelerated CAGR of 5.2% between 2022 and 2027. In 2017, APAC held the largest market share, projecting an annual revenue of USD 5.30 billion. The consumer appliances segment is becoming the preferred choice for customers who seek durability and style in their outdoor furniture, with powder-coated finishes. This market trends and analysis report provides market size, historical data spanning from 2017 to 2021, and future projections, all presented in terms of value in (USD billion) for each of the mentioned segments.
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The industries have very less long-term cost which is a key factor driving the growth of the market. Compared to the liquid coating process, offers significantly lower long-term costs, mainly due to faster throughput and more efficient utilization of coating materials. During the industrial powder coating's curing phase, parts can be swiftly assembled, packaged, and shipped upon cooling, minimizing warehousing time. Manufacturers are facing challenges in developing environmentally friendly products as it involves higher costs and effort.
The global coating industry has witnessed a transformative shift with the rise of powder coatings. These coatings, celebrated for their exceptional durability, eco-friendliness, and cost-effectiveness, have revolutionized sectors such as furniture and automotive manufacturing. Their superior resilience challenges the traditional dominance of liquid coatings by offering unmatched environmental advantages and long-lasting protection. The momentum signifies a significant transformation in the global market. Industries are recognizing the unique benefits, such as reduced environmental impact and enhanced durability, driving a steady shift away from liquid coatings.
The consumer appliances segment is estimated to witness significant growth during the forecast period and was valued at USD 3.96 billion in 2017. It has become the go-to choice for ensuring longevity and aesthetic look for outdoor furniture with powder coated outdoor furniture. The application on coated patio furniture offers remarkable benefits, including enhanced durability, resistance to corrosion, and a wide range of color options. This advanced coating method has gained significant traction in the powder-coated outdoor furniture industry, as it provides a protective layer that withstands harsh weather conditions and regular wear and tear.
Moreover, market has witnessed substantial growth due to the rising demand for durable and eco-friendly coating solutions. Aluminium powder coating and steel powder coating are particularly popular in various sectors, including automotive, construction, and manufacturing.
Automotive powder coating offers exceptional durability, protection against corrosion, and an extensive color palette, making it an ideal choice for enhancing the aesthetics and longevity of vehicles. Additionally, it provides efficient processing times, reducing production delays and costs in the automotive industry. In conclusion, the increased durability has had a profound impact on various industries. From powder-coated outdoor furniture, the advantages of this advanced coating method, including superior durability, environmental friendliness, and cost-effectiveness, have driven its widespread adoption.
Market - Revenue Share by End-User Segment, 2017 - 2027.
APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape market research and growth during the forecast period. The Asia-Pacific (APAC) market is experiencing a significant surge, primarily fueled by strong consumption in various sectors. Industries such as consumer appliances, automotive, construction, and outdoor furniture are driving the growth of this market. Notably, is playing a crucial role in the expansion of the APAC market. Additionally, it has a high demand in the construction sector. Key countries contributing to the growth of the APAC market include China, India, Japan, and South Korea. These countries are experiencing rapid industrialization and boast a diverse vendor landscape, further propelling market expansion.
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The market is fragmented in nature. Some significant players include Akzo Nobel NV and American Powder Coatings Inc.
The market analysis and report also includes detailed analyses of the competitive landscape and market forecasting information about 15 market companies, including:
Arkema Group, Asian Paints Ltd., Axalta Coating Systems LLC., BASF SE, Berger Paints India Ltd., Covestro AG, FERRO South Africa PTY LTD., Fortunecoat Industries Pvt. Ltd., Jotun AS, Kansai Paint Co. Ltd., Keyland Polymer Material Sciences LLC, Liberty Coatings LLC, PPG Industries Inc., RPM International Inc., Solvay SA, The Sherwin Williams Co., VITRACOAT, and Wacker Chemie AG.
The powder coating market encompasses various segments including general, industrial, and architectural applications, offering advantages such as corrosion resistance, chemical resistance, and heat resistance. Within the coatings sector, there is a growing concern over VOC emissions and environmental damage, prompting the industry to focus on sustainable solutions. With the rise of the EV sector, there is a shift towards coatings that minimize operating costs while enhancing performance. Innovations like thin-film powder coatings improve flow properties and reduce edge build-ups, catering to demands for uniform flow and smoothness. Additionally, advancements in polyurethane resins and high-performance fluorine resin coatings are transforming the automotive segment, offering superior surfaces with minimal hazardous emissions.
The market forecast market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017- 2027.
Powder Coatings Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.2% |
Market growth 2023-2027 |
USD 4191.98 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.75 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, India, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Akzo Nobel NV, American Powder Coatings Inc., Arkema Group, Asian Paints Ltd., Axalta Coating Systems LLC., BASF SE, Berger Paints India Ltd., Covestro AG, FERRO South Africa PTY LTD., Fortunecoat Industries Pvt. Ltd., Jotun AS, Kansai Paint Co. Ltd., Keyland Polymer Material Sciences LLC, Liberty Coatings LLC, PPG Industries Inc., RPM International Inc., Solvay SA, The Sherwin Williams Co., VITRACOAT, and Wacker Chemie AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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