According to the latest market research study released by Technavio, the global powder coatings market is expected to grow at a CAGR of more than 7% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global powder coatings market based on end-user:
Global powder coatings market share by end-user 2015
|
Appliances |
31% |
|
Automotive |
18% |
|
Architectural |
16% |
|
Furniture |
14% |
|
General industrial |
8% |
|
Others |
13% |
Source: Technavio
The top four revenue contributing end-user segments are discussed below:
Appliances
The appliances industry held the maximum share of around 31%, in the global powder coatings market in 2015. It was the largest end-user segment of the powder coatings market. Powder coatings are effective for all types of minor and major household and kitchen appliances and are mainly used to provide high-quality finish, aesthetic appearance, and strength.
“Powder coatings are preferred in home appliances as they are resistant to acid, water, chemical, weathering conditions, and solvent. These coatings produce impact and corrosion resistant coatings and are thick and durable which is necessary for these daily use home appliances,” says Ajay Adhikhari, a lead analyst at Technavio for research on paints, coatings, and pigments.
In minor appliances, powder coatings are used for common household equipment like grinders, juicers, mixers, toasters, table lamps, iron, and clocks. Whereas, in major appliances it is used for fans, washing machines, freezers, ovens, air conditioner systems, dishwashers, refrigerators, dryers, and microwave and other kitchen appliances.
Automotive
The automotive industry is highly affected by factors such as strength, impact, corrosion, appearance, and durability. It is the second largest end-user industry in the global powder coatings market. In the automotive industry, the powder coatings are used to deliver corrosion, durability, and impact resistant coatings with glossy and aesthetic finish. The coatings are mainly used for exterior and interior equipment applications in the industry, and among various applications, they are primarily used for auto body, auto exterior, auto underhood, auto underbody, and auto wheels.
Architectural
The unique properties of powder coatings such as high quality, durable, corrosion resistant, and high performance make them suitable for the application in architectural industry. The architectural industry is the third largest end-user segment of the global powder coatings market, where powder coatings are used for electric poles, grills, windows, frames, doors, light lamps, and fence. Powder coatings are used to protect metals such as aluminum, iron, and steel, which are mostly used in the industry, from rusting. Besides providing protection, powder coatings are also applied to provide interesting textures and a smooth finish.
Furniture
The furniture industry is the fourth largest end-user segment of the global powder coatings market. Powder coatings are used in this industry, to provide durable and tough coatings to the furniture. The requirement of coatings that is resistant to climatic conditions, corrosion, impact, and water makes powder coatings useful for both domestic as well as public and commercial furniture. Outdoor furniture is more sensitive to water, sunlight, and other corrosion conditions, therefore durable hard finish powder coatings are applied to protect furniture from environmental conditions. Apart from this, powder coatings are also used to provide the furniture an aesthetic appearance with different colors and textures.
The top leading vendors operating in the global powder coatings market are:
- Akzo Nobel
- Axalta Coating Systems
- PPG Industries
- Sherwin Williams
- The Valspar Corporation
Other prominent vendors in the market include Arkema, Eastman Chemical, Evonik Industries, and Nippon Paints.
A more detailed analysis is available in the Technavio report titled, ‘Global Powder Coatings Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Powder Coatings Market in Western Europe 2015-2019
- Global UV-cured Powder Coatings Market 2015-2019
- Powder Coatings Market in Germany 2015-2019
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