Based on geography, the Asia-Pacific region, followed by North America, accounted for nearly three-fifths of the global powder coatings market revenue and is predicted to lead the trail throughout the study period. The same segment is also expected to grow at the fastest CAGR of 5.8% during 2019–2026. The report also analyzes the regions across North America, Europe and LAMEA.
According to the report, the global powder coatings industry garnered $9.8 billion in 2018, and is estimated to reach $15.0 billion by 2026, witnessing a CAGR of 5.4% during the forecast period, 2019–2026.
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Rise in adoption of powder coatings over liquid coatings, supporting environmental regulations, surge in demand for appliances, and booming construction industry drive the growth of the global power coatings market. On the other hand, difficulty in the application of thin coats impedes the growth to some extent. However, rapid economic growth in emerging countries is expected to pave the way for a number of opportunities in the industry.
Based on resin type, the report bifurcates the market into thermoset and thermoplastic. The thermoset segment garnered the major share in 2018, holding 92% of the global powder coatings market. The segment is also expected to dominate during the forecast period.
Based on coating method, the market is categorized into Electrostatic Spray and Fluidized Bed. The electrostatic spray segment held the largest global powder coatings market share in 2018 and is anticipated to retain its top position by the end of 2026.
Based on application, the market is divided into Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, & Earthmoving Equipment (ACE), General Industrial, and Others. The automotive segment accounted for nearly one-fifth of the global powder coatings market share and is projected to rule the roost by 2026.
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Key players in the industry-
- Akzo Nobel N.V.
- Tiger Coatings
- Kansai Nerolac Paints Limited
- IFS Coatings
- Sherwin Williams
- Axalta Coating Systems
- BASF SE, Berger Paints
- PPG Industries
- The Valspar Corporation
Key Findings of the Powder Coatings Market :
- The automotive application segment occupied the highest share of 19.0% in 2018 in terms of revenue
- Electrostatic spray technique was the dominant segment in 2018 and is anticipated to maintain its lead in the powder coatings market.
- The thermoset segment occupied the highest share of 92.0% in 2018 in terms of revenue
- China is the leading consumer of powder coatings in the Asia-Pacific region followed by India.
- The appliances application is projected to be the fastest growing segment.
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