Reports And Data

Powder Coatings Market Key Driving Factors are Rising demand in medical equipment and increased usage of powder coatings in automotive components

NEW YORK CITY, NEW YORK, UNITED STATES, May 6, 2022 /EINPresswire.com/ -- The global powder coatings market size is expected to reach USD 19.00 Billion in 2030 and register a revenue CAGR of 5.0% over the forecast period, according to the latest report by Reports and Data. Strict regulations against use of VOC emissions and favorable government initiatives such as promoting coatings with lower emissions are key factors driving powder coatings market revenue growth. Powder coatings release significantly lower Volatile Organic Compounds (VOCs) post coating application, which leads to reduced air pollution, safe storage and handling, and low fire hazard. VOCs are compounds that vaporize at room temperature and are a major source of pollution at ground level. Nitrogen oxides mix with VOCs to form smog, which can irritate the nose, throat, and eyes, as well as induce migraines, memory loss, vision disturbances, and cancer in humans.

Manufacturers are usually required to get permits and adhere to stringent environmental regulations regarding the amount of solvent and VOCs released into the environment. There are no petroleum solvents used in the manufacturing process of powder coatings, so there are no dangerous VOCs released into the environment. The product complies with environmental regulations, which is expected to drive market revenue growth.

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Key Companies profiled in the global market report include - PPG Industries, Inc., The Sherwin-Williams Company, Akzo Nobel N.V., Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited, IFS Coatings, The Valspar Corporation, TIGER Coatings, Kansai Paint Co., Ltd., and BASF SE.

Some Key Highlights from the Report

Polyester has a good UV light resistance and is quite durable. It has some other beneficial properties such as chemical resistance, temperature resistance, abrasion resistance, quick-drying, and surface protection. Polyester-based power coatings are used in various applications including radiator grills, door handles, bumpers, wheel rims, metallic structural components, and bicycles.
Electrostatic spray coating segment accounted for largest revenue share in 2020. Electrostatic Spraying (ES) is a coating method that involves use of a spray gun to create an electrical charge on powder particles, while the substrate to be coated is grounded (made neutral). The main purpose of this coating is to protect the underlying material from corrosion. Growing demand for thermoset powder coating in a variety of end-use industries is expected to drive demand for the electrostatic spray coating method.
The appliances segment is expected to register highest revenue CAGR during the forecast period. Powder coatings are majorly used for applying on various appliances such as clothes washer tops and lids, air conditioners and water heaters, floor cleaners, dishwasher doors & racks, dryer drums, freezer liners, mixers & blenders, racks & cabinets, microwave ovens, and others. They are commonly utilized on appliances that require a combination of good appearance and resistance to abrasion, chemicals, and temperature fluctuations.

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Some recent developments are as follows:

On 5 March 2019, PPG launched PPG ENVIROCRON extreme protection edge coatings, which uses a patent-pending, sophisticated powder coatings technology that provides superior edge corrosion protection in a single coat. This cutting-edge technology, which is precisely formulated to cover sharp edges formed during metal fabrication, outperforms standard one-coat and two-coat powder systems in terms of coverage.
On 9 July 2019, Akzo Nobel announced plans to add three new production lines to its Changzhou powder coatings plant in China, which is the company's largest facility of its kind in the world. Additional supplies of metallic powder coatings, acrylic powder coatings, and powder primers for the automotive sector will be supported by USD 3 million investment, enhancing Akzo Nobel's capacity to supply more locally made premium products.

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Coating Type Outlook (Revenue, USD Billion; 2019-2030)

Electrostatic Spray Coating
Fluidized Bed Coating
Electrostatic Fluidized Bed Process
Flame Spraying

Substrate Outlook (Revenue, USD Billion; 2019-2030)

Metallic
Non-Metallic

Application Outlook (Revenue, USD Billion; 2019-2030)

Consumer Goods
Appliances
Architectural
Automotive
General Industries
Furniture
Others

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Regional Outlook (Revenue, USD Billion; Volume, Million Tons, 2018–2030)

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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