Powder Coatings Market Growth Dynamics By Resin, Application, Substrate Over 2019-2024
Oct 15, 2019
MarketStudyReport.com Adds New Powder Coatings Market 2019 – 2025 research report providing information and data By Resin, By Application, By Substrate, Industry Analysis, Regional Outlook, Application Potential, Trends, Competitive Market Share & Forecast spreading across 615 Pages with table and figures in it.
Selbyville, Delaware - October 15, 2019 /MarketersMedia/ —
Asia Pacific powder coatings market dominated the industry and accounted for more than 40% demand in 2017. The large presence of industrial units in China, India, and Japan will positively influence the market growth. Imposition of government regulations with respect to VOC emission will boost the market share. For instance, in January 2015, the China Ministry of Finance imposed 4% additional consumption tax on coating manufacturers over the sale of any product whose spray VOC level surpasses 420g/L.
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Non-metallic substrates were valued over USD 500 million in 2017 and is expected to witness highest gains in revenue terms up to 2024. Introduction of medium-density-fiberboard (MDFD), that has intensified the varnishing of wood-based furniture will drive the product penetration. This demand will be supported by functional advancements such as gloss retention, durability, scratch and chalking resistance. The introduction of products with low-temperature curing capabilities is providing new growth avenues for its applications in the furniture industry.
Valued for its low ecological impact, powder coatings are widely used in a variety of applications including, architectural, appliances, automobiles, and furniture. Stringent government regulations to control and limit the volatile organic compound emissions will drive the powder coatings demand. For instance, in 2017, the Government of China revised the national standards toward lowering VOC emission levels for the automotive industry.
In automotive & transportation applications, wheels accounted for approximately 8% of the revenue share in 2017. The increasing preference for powder coatings among manufacturers due to their substantial cost reductions, corrosion resistance, and aesthetic appearance will trigger the market growth. Automotive industry expansion has resulted inthe high penetration of its components, such as door handles, radiator grills, wheel rims, and bumpers, will eventually drive growth in this segment.
Thermoset resin is expected to witness over 6.5% growth up to 2024. Polyester and epoxy polyester hybrid are the key contributing resin types in thermoset. Superior mechanical properties, UV resistance, and exceptional durability are among the major benefits makes the product highly popular in various applications.
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The powder coatings market share is competitive in nature and majorly occupied by Axalta, AkzoNobel NV, PPG Industries Inc., and Jotun. The key strategies implemented by industry participants include geographical expansions, new product launches, mergers & acquisitions, and R&D investments. For instance, in February 2017, Axalta acquired Century Industrial Coatings, a high-performance powder coatings manufacturer for structural steel, oil & gas, and rail cars. This enables the company to explore untapped market potential in diversified business segment. Industry players resort to effective and long terms supply chain agreements with dealers and distributors to ensure efficient flow and reach of their products.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Powder Coatings Industry Insights
Chapter 4. Powder Coatings Market, By Resin
Chapter 5. Powder Coatings Market, By Application
Chapter 6 Powder Coatings Market, By Substrate
Chapter 7. Powder Coatings Market, By Region
Chapter 8. Company Profiles
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Related Report:
Global Low Temperature Powder Coatings Market Insights, Forecast to 2025
Low-temperature powder coatings refer to the coatings of a variety of powder, which are applied in furniture, appliances, automotive, architectural, retail, electronics, and medical among others. This study categorizes the global Low Temperature Powder Coatings breakdown data by manufacturers, region, type and application, also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
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