The report “Powder Coatings Market by Resin Type (Thermoset, Thermoplastic), Coating Method (Electrostatic Spray, Fluidized Bed), End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture), and Region – Global Forecast to 2022”, The powder coatings market is projected to reach USD 13.49 Billion by 2022, at a CAGR of 6.75% from 2017 to 2022. In this study, 2016 has been considered as the base year for estimating the market size.
This report aims to estimate the market size and future growth potential of the powder coatings market across different segments, such as resin type, end-use industry, and region. It analyzes the opportunities in the market for stakeholders and presents the competitive landscape for the market leaders. Factors influencing market growth, such as drivers, restraints, opportunities, and industry-specific challenges, have also been studied in this report.
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Top Industry players analyzed in this research are: AkzoNobel N.V. (Netherlands), Asian Paints Limited (India), Axalta Coating Systems (U.S.), Berger Paints India Limited (India), Jotun A/S (Norway), Kansai Paint Co., Ltd. (Japan), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), and Somar Corporation (Japan).
Appliances: The leading end-use industry segment of the powder coatings market
The appliance industry is the largest market for thermosetting powders. The industry benefits from the use of powder coatings in applications that require the combination of appearance and resistance to abrasion, chemicals, and temperature cycling. The appliance industry uses powder coatings on front and side panels of refrigerators, dryer drums, air-conditioner cabinets, washer tops and lids, water heaters, dishwasher racks, freezer cabinets, and cracks of microwave ovens.
Thermoset: The fastest-growing resin type segment of the powder coatings market
Thermoset is projected to be the fastest-growing resin type segment of the powder coatings market. Thermoset coating has a different chemical structure from that of other basic resins. After curing, a thermoset coating remains thermally stable, meaning it cannot be melted back into liquid form. The newly formed materials are heat stable and will not soften back to liquid on further exposure to heat. Thermoset powder coating systems offer broad formulation flexibility.
Methodology used for research: Top-down and bottom-up approaches have been used to estimate and validate the size of the global market as well as that of various other dependent submarkets in the powder coatings market. The research study involved the extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg, Chemical Weekly, Factiva, related associations/institutes, and other government associations. Private and company websites were also used to identify and collect information useful for the technical, market-oriented, and commercial study of the global powder coatings market. After arriving at the total market size, the overall market has been split into several segments and subsegments.
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