The U.S. & Europe powder coatings market was valued at $2,965.7 million in 2018, and is projected to reach $4,292.5 million by 2026, growing at a CAGR of 4.71% from 2019 to 2026.
Powder coatings are fine solids that possess various properties such as significant durability along with resistance to abrasion, corrosion, scratching, and chemicals. They meet various requirements of end-user industries such as unlimited color selection options, high and low gloss, metallic and clear finishes, and texture choices such as rough textures, smooth surfaces, wrinkled, and matte finishes to hide surface imperfections. Powder coatings not only maximize production, but also improve coating efficiency and reduce coating costs, as over-sprayed powder coating can be retrieved and re-used as compared to liquid coatings.
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The powder coatings market is driven by factors such as, increase in demand for appliances, surge in the construction industry, and rise in adoption of powder coatings over liquid coatings, and rapid growth of automotive, appliances and construction industries in the U.S. and European countries. Powder coatings offer superior finish and durability, which leads to increased life of coated products. They are highly desirable from an ecological standpoint as they are manufactured and applied without the use of organic solvents. All these factors are expected to complement the market. However, powder coatings are not compatible in thin layer coating applications, which is a major restraint to the market.
In addition, increase in cost of raw material is expected to hamper the growth of the powder coatings market. Nevertheless, emergence of new application methods is expected to provide potential growth opportunities for the powder coating market.
The U.S. & Europe powder coatings market is segmented based on resin type, coating method, application, and region. By resin type, the market is analyzed across thermoset and thermoplastic. Thermoset is further categorized into epoxy, polyester, epoxy polyester hybrid, and acrylic. Thermoplastic is further classified into polyvinyl chloride (PVC), nylon, polyolefin, and polyvinylidene fluoride (PVDF). Based on coating method, it is divided into electrostatic spray, and fluidized bed. Based on application, the market is classified into appliances, automotive, architectural, furniture, agriculture construction, and earthmoving equipment (ACE). Region wise, it is analyzed across U.S. and Europe.
The key players analyzed and profiled in this report are Akzonobel N.V., American Powder Coatings Inc., Axalta Coating Systems, BASF SE, IFS Coatings Inc., PPG Industries Inc., Powder Coating USA, Inc., The Sherwin-Williams Company, Tiger Drylac U.S.A., Inc., RPM International Inc. and Jotun
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KEY BENEFITS FOR STAKEHOLDERS
- Porters five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- It outlines the current trends and future scenario of the market from 2019 to 2026 to understand the prevailing opportunities and potential investment pockets.
- Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analysis are elucidated in the study.
- The profiles of key players along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS
By Coating Method
- Electrostatic Spray
- Fluidized Bed
By Resin Type
- Epoxy Polyester Hybrid
- Polyvinyl Chloride (PVC)
- Polyvinylidene Fluoride (PVDF)
- Agriculture, Construction and Earthmoving Equipment (ACE)
- General Industrial
- Rest of Europe
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