Pakistan Powder Coating Market size is forecast to reach $130 million by 2025 after growing at a CAGR of 6% during 2020-2025. Powder coating refers to dry finishing process used on array of products for improving protective characteristics and visual appeal of the products. The growth of the market of powder coating in Pakistan is expected to be driven by the high demand from the automotive industry.
By Resin Type- Segment Analysis
Thermoset resin type held the largest share in the Pakistan powder coatings market in 2019. Thermoset resin form three-dimensional non-reversible networks during the transformation of the liquid resin to the solid. The dimensions of the resin layer are fixed at the point at which the liquid is transformed to the gel, and continuation of cure will often transform the rubbery gel to a glassy material. Polyester resin has a largest share on account of its beneficial properties such as quick-drying, chemical resistance, temperature resistance, abrasion resistance, and surface protection. Surge in product demand in applications including door handles, radiator grills, wheel rims, bumpers, bicycle, and metallic structural component will propel market growth over the forecast period. Epoxy-Polyester (Hybrid) resin type is anticipated to witness fastest growth over the forecast period on account of its properties such as toughness, flexibility, weather ability, and cheap availability as compared to other coatings. This resin type is a mixture of both polyester and epoxy resins and is mainly used for interior applications such as furniture coatings.
Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=18261
Report Price: $ 4300 (Single User License)
By Coating Method- Segment Analysis
Electrostatic spray is the most adopted coating technique as it enables coating of intricate shapes and does not require preheating of components. This segment is expected to continue its dominance throughout the forecast period. Electrostatic spraying is the process of discharging an electrostatically charged mist onto an object or surface. The process uses a specialized solution that uses positively charged particles that are able to easily coat and cling to a surface. Most surfaces such as walls, floors, and fixtures are grounded with negative charge, so the spray is able to connect with the intended area. After the spray is applied, the particles disinfect the covered surfaces. For this reason, electrostatic spray is an excellent solution to kill any germs and contaminants such as bacteria and viruses. Electrostatic spray is perfect for complex-shaped surfaces and hard to reach areas. The mist allows it to coat the surface evenly and envelope objects even if the spray is only aimed at one side of the targeted area. Electrostatic spraying uses a “set it and forget it” type of application. This means that once you spray, you don’t need to wipe it off like other types of cleaning methods which generally uses several steps. Because of this, electrostatic spray substantially reduces the time it takes to disinfect all surfaces and hard-to-reach places. The spray from this technology does not hang in the air or cause breathing difficulties. It also does not leave behind a toxic residue and works equally on hard surfaces, soft surfaces, and electronics. This will drive the growth of the market in the forecast period.
By Application- Segment Analysis
The Bumper Systems’ segment held the largest share in the Pakistan powder coatings market in 2019 in terms of application. The growth of Pakistan powder coatings market can be attributed to the rise in production of automobiles. It is expected that the amount powder coatings used in the production of automobiles will double in the next 15 years. According to International Organization of Motor Vehicle Manufacturers the total production of automobile (commercial as well as Personal) Pakistan in the year 2019 was 186581 units compare to 254 938 units in 2018. The amount of car production depicts that large no of companies are involved in the production of vehicles. As a result, competition in the market is expected to increase considerably. This will drive the growth of the market in the forecast period.
By End Use- Segment Analysis
Building and Construction sector held the largest share in the Pakistan powder coatings market in 2019 growing at CAGR of 10%. The construction industry is playing an important role in economic growth of Pakistan. Recent (provisional) estimates published in the Economic Survey of Pakistan show that the industry grew 9.1% in FY17 and contributed 2.7% to the country’s gross domestic product (GDP). The signing of the China-Pakistan Economic Corridor (CPEC) agreement and improvement in the country’s security situation have been the key to giving boost to the construction industry. The sector has also been an important recipient of foreign direct investment (FDI). This can be judged from the latest figures provided by the State Bank of Pakistan, which show that the construction industry received a net inflow of $35.7 million in August 2017. The industry is perceived to be for foreign investors can be gauged from the fact that in the current fiscal year from July-August FY18 the industry has received $55.7 million relative to $1.6 million in the same period of last year. Locally, investment has also been boosted by government policies such as reduction in duties and taxes on building materials like steel, construction machinery and equipment and computerization of land ownership records. This will drive the growth of market in the forecast period.
Drivers- Pakistan powder coatings market
Naya Pakistan Housing Scheme the initiative of government will drive the market
Pakistan is currently facing an overall housing backlog of 11-12 million housing units. The urban housing shortage is estimated to be around 4 million. Pakistan’s urban population is one-third of the total population, which is expected to reach 50% by 2050. Most of the urban housing backlog is in low and lower-middle income segments of the population. On the supply-side, the housing developer industry has been active in supplying units to middle and upper-middle segments of the population. The people at the Bottom-of-Pyramid overall estimated at 20% of the population, largely live in illegal habitat, squatter settlements, and slums. Housing supplies for low and lower-middle segments are commonly termed as Social Housing Segment, while housing market for upper-middle and high-end segments of the population. Therefore, the Naya Pakistan scheme is started by the Pakistan government in which those working in the construction industry will be exempted from up to 90% of fixed tax, if they build houses for the Naya Pakistan Housing Scheme. This means that whoever constructs houses for Prime Minister’s low-cost housing scheme will only have to pay 10% property tax. This will drive the market in the forecast period.
Rise in the production of the consumer goods in the country will drive the market in forecast period
Growing purchasing power and rapid urbanization are expected to drive demand for powder coatings in consumer goods over the forecast period. The use of powder coatings is predominant in consumer goods as these coatings do not contain solvents, exhibit higher flexibility than conventional liquid coatings, and comply with environmental regulations. Moreover, the rising demand for domestic appliances in Pakistan is expected to boost the demand for powder coatings in the coming years.
Talk to one of our sales representative about the full report by providing your details in the link below:
Challenges – Pakistan powder coatings market
Economic condition of country will hinder the market in the forecast period
Pakistan is facing Economic challenges. It shows that our country is in the list of under developed countries. In the last budget, the government gained 4.3 per cent economic growth but with gas and load shedding problems they didn’t achieve the targets. So due to lake of experience and knowledge they came in the figure of 2.2 per cent growth which shows almost no growth in the current year. The present rate of GDP is around 14 percent which is lower than the developing countries. Another challenge is inflation. It badly affects the salary based groups. This also shows our higher rate of taxes because tax is part of the inflation. These factors will hinder the growth of the market in the forecast period.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Pakistan powder coatings market. In 2019 the market of powder coatings in Pakistan has been consolidated by the top five players accounting for xx% of the share. Major players in the Pakistan powder coatings market are Berger Paints, Delux Powder Coating, Xiangshen powder coating CO., Ltd, Pak Engineering, Monoghal Enterprises and Others.
The infrastructural expansion in Islamabad and Karachi is a key factor driving the product demand across the country.
Lower application cost as compared to liquid coatings will drive the market in forecast period.
Higher energy consumption and investment on machinery and tools will hinder the growth of the market in the forecast period.
Related Reports :
A. Argentina Architectural Coatings Market
B. Powder Coatings Market
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to firstname.lastname@example.org to discuss more about our consulting services.