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The Western Europe - powder coatings market size is estimated to grow at a CAGR of 4.12% between 2022 and 2027. The market size is forecast to increase by USD 553.63 million. The growth of the market depends on several factors such as the increased use of fluidized bed process, the rising shift towards sustainable practices, and the growing consumer awareness of powder coatings.
This Western Europe powder coatings market report extensively covers market segmentation by method (electrostatic spray and fluidized bed), and type (thermoset powder coatings and thermoplastic powder coatings). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased use of fluidized bed processes is the key factor driving the growth of the market. Powder coatings using the fluidized bed process are an alternative method for applying dry powder coatings to three-dimensional objects. The fluidized bed process is appropriate for gaining thicker coatings compared to other powder coating methods. The fluidization of the powder particles in the bed helps to provide an even and consistent coating thickness on all sides of the object.
Furthermore, the curing process for fluidized bed coatings is relatively quick, which can enhance production efficiency. In addition to that, the fluidized bed process can be automated to ensure consistent coating quality and improve productivity. This method can be cost-effective for coating large quantities of objects due to its efficiency and uniform coverage. Hence, such benefits of using fluidized beds will boost the growth of the market during the forecast period.
Rising urbanization and infrastructure development is the primary trend shaping market growth. As cities expand, new buildings and infrastructure projects are developed, creating a higher demand for protective and decorative coatings. Powder coatings provide several benefits that align well with the needs of urbanization and infrastructure development. Powder coatings offer a wide range of colors, textures, and finishes, allowing architects and designers to achieve desired aesthetic effects.
In addition, urban expansion contains the design of public spaces, parks, and recreational areas. Powder coatings are used to coat outdoor furniture, playground equipment, and fixtures to provide longevity and safety. Therefore, increasing urbanization and infrastructure development will boost the growth of the Western Europe powder coatings market during the forecast period.
High energy consumption in curing is a challenge that affects the growth of the market. High energy consumption in curing impacts both the cost-effectiveness of the process and its environmental sustainability. The traditional curing process for powder coatings involves heating coated objects in ovens at elevated temperatures. Developing and implementing energy-efficient curing methods, such as infrared curing, UV curing, and microwave curing, is a challenge.
In addition, balancing curing time with energy efficiency is a challenge, especially for high-volume manufacturing. Providing consistent and uniform curing across all coated objects is essential for maintaining high-quality coatings. Variability in curing can lead to defects like orange peel, uneven gloss, or inadequate adhesion. Therefore, the high energy consumption in curing will impede the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Western Europe Powder Coatings Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The electrostatic spray segment is estimated to witness significant growth during the forecast period. Powder coatings using electrostatic spray are a commonly used method for applying dry powder coatings to various substrates. It applies the application of charged powder particles onto a grounded or oppositely charged substrate, creating an electrostatic attraction that ensures uniform and even coating coverage. The electrostatic process allows for high transfer efficiency, meaning that a significant portion of the powder material adheres to the substrate, minimizing waste.
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The electrostatic spray segment was the largest segment and was valued at USD 1,383.27 million in 2017. Moreover, powder coatings using electrostatic spray offer several advantages, including efficient application, environmental friendliness, and high-quality finishes. These coatings are commonly used in industries such as automotive, furniture, appliances, and architecture, where durable and visually appealing finishes are desired. Thus, these factors will drive the growth of the electrostatic spray segment, which will propel the growth of the Western Europe - powder coatings market during the forecast period.
The Western Europe powder coatings market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Western Europe Powder Coatings Market Scope |
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Report Coverage |
Details |
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Page number |
144 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.12% |
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Market growth 2023-2027 |
USD 553.63 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
3.54 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aalberts Surface Treatment GmbH, Akzo Nobel NV, Arkema Group, Axalta Coating Systems Ltd., BASF SE, Covestro AG, CWS Powder Coatings GmbH, J Wagner GMBH, Kansai Paint Co. Ltd., Primatek Coatings OU, RIPOL Srl, Solvay SA, ST Powder Coatings S.p.A., The Sherwin Williams Co., Thermaset Ltd., and Wacker Chemie AG |
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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 the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Method
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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