Powder coating market is expected to grow at a significant pace from 2016 to 2024 due to its application versatility and market innovations. Powder coating is the process in which dry powder is first electrostatically charged and then applied as a coating on the product surface. It offers one-coat finish in varying thickness ranging from 20micron to 1000micron. Powder coating possesses properties such as anti-weathering, anti-corrosion, chemical stain resistance, and formability.
Continuous advancement in powder coating engineering has broadened its applications. New, useful powders are continuously being developed to suit customer needs. Factors such as adherence of powder coating to environmental concerns due to low volatile compound emission, cost efficiency, and finish quality are the driving factors.
Powder coating process has to meet stringent regulatory norms. Installation & maintenance cost of powder coating plant is high. Due to low awareness of its advantages, customers are reluctant to switch from conventional paint technology. Increasing prices of raw materials, increased usage of plastic is restraining the market.
Powder coating uses raw materials such as epoxy resin, maleate & acrylate polyester, bifunctional polyester resin, acrylic resins, silicone, COOH polyester resin, OH polyester resin aromatic polyesters, thermoplastic resins, curing agents and functional additives. The process consists of powder coating spray guns, ovens, and conveyors. Powder application uses electrostatic fluidized bed coating, electrostatic, magnetic brush coating, and curing process.
Powder coating is used to coat agriculture tools, automotive, furniture, general metals, electrical appliances and others. Automobile sales have grown in the recent past due to their affordability, efficiency and are expected to follow a similar trend over the forecast period. Vehicles use powder coating due to its low price and durability. As automobile sales increase, it is further expected to drive the powder coating market growth.
Powder coating provides superior heat & corrosion resistance and therefore has found applications in consumer electronic goods such as ovens, lawn mowers, snow shovels, televisions, washing machines, and refrigerators. Due to rising disposable income and high product differentiation, consumer electronic sales are expected to grow thus contributing to increased powder coating demand.
Major vendors in powder coating include Axalta Coating Systems, PPG Industries, BASF, Valspar Corporation, Sherwin William, Nippon Paint, Kansai Paint, Eastman Chemical Company, and Akzo Nobel. Raw materials are a substantial production expense. Industries are putting in concentrated efforts to reduce the cost. They are trying to provide technology to limit and recycle wastage.
Akzo Nobel is a major company in powder coating business. Company’s Interpon D powder is an environmentally sustainable product and adheres to global architectural standards. This product is used in structural applications such as interior decoration and exterior coating. Company also offers powder coating solutions to IT appliance, automotive, and furniture sectors.
Sherwin Williams is based in the U.S. and provides surface coating solutions to various industries across the globe. Company’s Powdura architectural coating is designed to resist UV rays, high humidity, and extreme temperatures. It has established Sherwin-Williams GreenSure standards for strict, regulatory compliance of its products.
Asia Pacific region is expected to lead the global powder coating market demand due to high investment in industries such as automotive, metal and appliances. Rising population is driving consumer product sales. Urban population has contributed substantially to rise in apartment ownership. All these factors are forecasted to expand the regional powder coating market sales. The high industrialization in Japan & South Korea is also expected to cater to this rising demand over the period of next eight years.
Europe & North America are anticipated to witness a rise in powder coating demand due to stringent industry regulations. Automotive and metal industries are adopting powder coating as it meets these regulations. High standard of living has increased usage of powder coating in home decoration. All these factors are anticipated to fuel regional powder coating demand.
