Powder In-mold Coatings Market: Introduction
- In-mold coating (IMC) is a well-established, cost-effective, and eco-friendly technology, which offers an integrated method of surface refinement
- In-mold coatings available in the marketplace are of three types: water based, solvent based, and powder based. Among these, powder-based in-mold coatings are significantly used in various applications.
- Powder in-mold coating (PiMC) is a one-step process, in which a charged powder coating based on unsaturated polyester (UP) resins is applied to the heated tool to form a chemical compound with the inserted sheet-molding compound (SMC) / bulk-molding compound (BMC)
- Powder in-mold coatings feature unique characteristics such as protection from UV radiation, resistance to scratch, and resistance to chemicals. They are considered a perfect choice for use in outdoor applications.
Key Drivers of Global Powder In-mold Coatings Market
- Increasing demand for cement for use in various construction activities has driven the demand for powder in-mold coatings market in various building applications. There has been significant growth in constructional activities across the globe.
- According to the Bureau of Labor Statistics, in January 2020, the construction industry was the most rapidly expanding industry in the Netherlands. With growth of the construction industry in the Netherlands, the demand for powder in-mold coatings in the country is also expected to increase in the near future.
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High Costs of Raw Materials to Restrain Powder In-mold Coatings Market
- The cost of raw materials used in the manufacture of powder in-mold coatings is relatively high. This factor is expected to restrain the global market in the near future.
Global Powder In-mold Coatings Market, by Application
- Based on application, the global powder in-mold coatings market can be segmented into electronics & appliances, automotive, truck, rail, sanitary products, building & construction, medical, and others
- The automotive segment is projected to account for a major share of the global powder in-mold coatings market by 2027. The building & construction segment of the global market is estimated to expand at a moderate rate during the forecast period. It is expected to account for 18.0% share of the global market by 2027.
- Expanding at a significant rate, the electronics & appliances segment is expected to offer significant opportunities to the global powder in-mold coatings market during the forecast period. Demand for other industrial applications is expected to remain moderate to high across different regions.
- On the other hand, the sanitary products segment is estimated to register a moderate growth rate throughout the forecast period
Asia Pacific to be a Key Market for Powder In-mold Coatings
- In terms of region, the global powder in-mold coatings market can be divided into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- The Asia Pacific market is expected to witness continuous growth in the near future, followed by Europe. Driven by growth of various end-user sectors, the powder in-mold coatings market in Asia Pacific is expected to register a sustainable growth rate in the next few years.
- Powder in-mold coatings have been witnessing considerable demand in countries such as China and India over the last few years. This is attributable to rising capital investments in construction activities and setting up of large-scale infrastructure projects in these countries. Moreover, high investments in the industrial sector, particularly in the Asia Pacific region, are expected to drive the demand for powder in-mold coatings between 2019 and 2027.
- The market in North America and Middle East & Africa is expected to witness stagnant growth during the forecast period
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Key Manufacturers Operating in Global Market
The global powder in-mold coatings market was highly fragmented in 2018. Key manufacturers operating in the global market are:
- Stahl Holdings B.V.
- Fujichem Sonneborn Limited (Fujikura Kasei Global Network)
- AkzoNobel N.V.
- Berlac Group
- The Sherwin-Williams Company
- KECK Chimie
- Protech Powder Coatings Inc.
- ADAPTA COLOR, S.L.
- RASCHIG GmbH
- Emil Frei GmbH & Co. KG (FreiLacke)
- Chromaflo Technologies
Global Powder In-mold Coatings Market: Research Scope
Global Powder In-mold Coatings Market, by Resin Technology
Global Powder In-mold Coatings Market, by Formulation
- One Component (1K)
- Two Component (2K)
Global Powder In-mold Coatings Market, by Application
- Electronics & Appliances
- Sanitary Products
- Building & Construction
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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