Global Powder Coatings Market to Reach US$ 16,203.14 Mn by 2026

The global powder coatings market was valued at US$ 9099.66 Mn in 2017. It is anticipated to expand at a CAGR of 6.6% from 2018 to 2026, according to a new report titled ‘Powder Coatings Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,’ published by Transparency Market Research (TMR) Reusable overspray of powder coatings is anticipated to augment the global powder coatings market during the forecast period.

Negligible VoCs Emission by Powder CoatingsNo VoCs are emitted during the use of powder coatings. Therefore, they are not a threat to the environment. Several countries have set guidelines restricting the amount of VoCs emitted during the usage of coatings in industries, especially for solvent-based coatings. Manufacturing operations are bound by rules and regulations regarding the evaluation, registration, storage, usage, handling, and transportation of certain substances and their emissions, effluents, and other wastes. A violation of such regulations is expected to lead to legal obligation in future business activities. A violation of these government regulations attracts heavy penalties and losses. Most market players are shifting from solvent-based coatings to water-borne coatings. Powder coatings do not contain solvents. Therefore, their emissions are negligible.

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Reduction in Waste and Few Hazards of Powder Coatings

Powder coating is a clean process that allows exhaust air from the coating booth to be returned to the plant. The process eliminates less oven air to the outside. Heating and cooling costs are eliminated for make-up air, and the cost for maintaining oven temperatures is minimized. Powder overspray can be retrieved and reused. Unused powder can be reclaimed and returned to a hopper for recirculation through the system, causing negligible waste. Powder coatings are collected and recycled.

Difficulty in Obtaining Thin Films

Thin films (µ25 microns) are difficult to obtain with powder coatings as compared to liquid coatings. The powder coating process can help achieve a smooth and even coating. However, it is difficult to produce a thin layer. This limitation depends on how powder coatings are applied, as it is difficult to control the amount and speed at which the powder is applied to the substrate.

Thick coatings can be used to hide surface imperfections, while thinner coatings tend to display a more orange-peel texture. This is due to inadequate pretreatment or improperly applied powder and insufficient curing time or temperatures.

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Thermoset Segment to Dominate the Global Powder Coatings Market

Based on type, the global powder coatings market has been segmented into thermoset and thermoplastics. The thermoset segment accounted for a major share of the market in 2017. Thermosets are mostly used to coat appliances, as they are resistant to extreme temperatures. The thermoset segment has been further sub-segmented into epoxy, polyester, epoxy polyester hybrid, acrylic, and others. The polyester sub-segment constituted major share of the thermoset segment, as polyester offers superior durability and high resistance to UV light. The epoxy polyester hybrid sub-segment is projected to expand at a rapid pace during the forecast period. The thermoset segment is anticipated to expand at rapid pace in the coming years. The thermoplastics segment has been further sub-segmented into polyvinyl chloride, nylon, polyolefin, and polyvinylidene fluoride. The polyolefin sub-segment accounted for a major share of the thermoplastic segment. Polypropylenes are the most used polyolefins. They possess superior surface hardness and are scratch and abrasion resistant.

Electrostatic Spray Segment to Lead in Terms of Demand

Based on coating method, the global powder coatings market has been segmented into electrostatic spray and fluidized bed. In terms of volume, the electrostatic spray segment dominated the powder coatings market. The electrostatic spray segment is anticipated to expand at a rapid pace during the forecast period. In terms of demand, the fluidized bed segment accounted for low share of the market in 2017. In the fluidized bed process, the work piece needs to be preheated, and in some cases, postheated to complete cure. A fluidized bed is used for coating small parts with simple shapes.

High Degree of Competition among Market Players

A large number of powder coating manufacturers operate across the globe. Powder coatings do not have external substitutes. Additionally, powder coatings are preferred due to their environmentally friendly nature. Key players operating in the market are Akzo Nobel N.V., PPG Industries, Inc., Axalta Coating Systems, The Sherwin-Williams Company, BASF SE, PPG Industries, Inc., Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., and others.

The global printing inks market portrays a sizeable diversity owing to the presence numerous players, says Transparency Market Research,