According to the new market research report “Metallic Powder Coatings Market by Process Type (Bonding, Blending, Extrusion),Pigment Type (Aluminum, Mica), Resin Type (Polyester, Hybrid, Epoxy, Polyurethane, Others), End-use Industry, and Region – Global Forecast to 2025“, The global metallic powder coatings market size will grow to USD 3.3 billion by 2025 from USD 2.3 billion in 2020, at a CAGR of 7.5% during the 2020-2025 period. The market trend is attributed to the continued growth of the architectural industry, which is the largest consumer of metallic powder coatings.
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Polyester is the largest resin type in matllic powder coatings market in terms of volume. Polyesters are the most commonly used powders and offer great value for money. The two most widely used types of polyester powder are TGIC (tri glycidyl isocyanurate) and non-TGIC, which is also known as TGIC-free or sometimes a ‘Primid’. Both TGIC and TGIC-free polyesters offer good mechanical resistance, including great flexibility and impact and good chemical resistance.
Aluminum is the fastest growing pigment type in metallic powder coatings market, in terms of volume. Aluminum pigments that are used for general applications have a basic encapsulation that assists in weathering and chemical resistance. Aluminum flakes are widely used in all coating types because of their brightness, opacity, durability, and formulation flexibility. Aluminum flakes, however, require specific handling and storage techniques to maximize their appearance and for safe usage.
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The Metallic Powder Coatings market is projected to grow from USD 2.3 billion in 2020 to USD 3.3 billion by 2025, at a CAGR of 7.5% between 2020 and 2025. The Increasing demand for metallic pigments from the architectural and automotive industries and large organized and unorganized aftermarkets for wheels are driving the metallic powder coatings market.
The key market players are AkzoNobel N.V. (Netherlands), Axalta Coating Systems, LLC (US), Jotun A/S (Norway), PPG Industries (US), The Sherwin-Williams Company (US), and Tiger Coatings GmbH & Co. KG (Austria). These players have adopted various strategies, such as merger & acquisition, investment & expansion, and new product launch to grow in the market. Investment & expansion was the key strategy adopted by the major players between 2016 and 2020. This strategy helped companies increase their geographic presence.
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AkzoNobel N.V. (Netherlands) is a diversified chemical company active in the fields of decorative paints and performance coatings. Metallic powder coatings are offered under the performance coatings segment. AkzoNobel N.V. has a strong customer base and operates in more than 150 countries of Europe, APAC, South America, and the Middle East. In July 2019, AkzoNobel announced plans to add three new production lines at its Changzhou powder coatings plant in China—the company’s largest facility of its kind in the world. The USD 3.3 million investment will support additional supplies of acrylic powder coatings, metallic powder coatings, and powder primers for the automotive sector, strengthening AkzoNobel’s ability to deliver more locally produced premium products.
Axalta Coating Systems, LLC (US) is a diversified coating company that operates through two business segments: Performance Coatings and Transportation Coatings. Powder coatings are a part of the Performance Coatings segment. This company is active in the fields of liquid coatings and powder coatings that are used for various applications such as automotive OEMs, automotive refinish, transportation, general industrial, architectural, and decorative coatings. In December 2019, Axalta strengthened its position in the global powder market by investing in bonding capabilities for metallic effect powder coatings. The investment will enhance Axalta’s new bonding production line in Landshut, Germany, and upgrade bonding equipment and capabilities in Houston, Texas, US and Shanghai, China, to enable customers to purchase best-in-class metallic effect powder coatings more easily.
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