Powder Polyester Resins Market: Overview
Powder polyester resins have been extensively used for a range of coatings applications. Bereft of the need for organic solvents or water, they have surfaced as an increasingly environmentally friendly coating option. These resins largely function based on Triglycidyl Isicyanurate (TGIC) cross linking technology. Automakers have emerged as a vast consumer in the powder polyester resins, using them for coating lightweight vehicles, where they serve protection as well as aesthetics purposes. The increasing shift from solvent-borne coatings to powder coatings is a key growth dynamic of the powder polyester resins market. Changing regulatory landscape pertaining to the use of TGIC powder polyester resins has helped shape the contours of the powder polyester resins market. Further, TGIC and TGIC-free are both used in coating systems and shape the growth dynamics of the market.
Key end users in the powder polyester resins market are oil and gas, automotive and aerospace, electrical and electronics, and chemical sectors. These resins are also utilized in coating surfaces in the building and construction industry, especially for residential and commercial buildings.
Powder Polyester Resins Market: Key Trends
The advent of ultra-low curing systems has led to the development of technologically advanced products in the powder polyester resin market. Growing demand for durable powder coatings in exterior surface application is also boosting opportunities for coating formulators and other industry players. Formulators are focusing on improving the properties of these resins in terms of superior mechanical properties, such as remarkable flow and levelling.
The powder polyester resins market has also gathered some momentum from the demand for products that show a good cross-computability within the coating systems. Rising efforts of players in fabricating polyester-epoxy hybrids, and super durable polyester coatings is boosting the market.
Powder Polyester Resins Market: Competitive Analysis and Key Developments
Growing focus on improving the performance of formulated powder coating is a key driver for the product advances in the powder polyester resins market. Such efforts have also increased the versatility of these coating systems. The increasing trend of fine-tuning of formulations via the use of specialized additives is boosting the powder polyester resins market.
Most prominent players in the powder polyester resin market are leaning on reinforcing the efforts of powder coating formulators. They are ramping up investments in research and development centers, especially in markets of Europe and North America. Some are expanding their portfolio of curing agents and additives. Top players are keen on delivering innovative solutions and novel chemistries of polyester resins to end users to strengthen their position.
Some of the key players in the powder polyester resins market are Karna Paints Pvt. Ltd., DSM., Evonik Industries AG, Marpol Private Limited, and DIC Corporation.
A few aspiring players are resorting to vertical integration to have a better control of raw materials price fluctuations, and hence gain a steady stream of revenues over the forecast period. Regulations pertaining to minimizing the use of VOC-emissions from the paints and coatings industry in several developing and developed economies have boosted the demand for powder polyester resins.
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Powder Polyester Resins Market: Regional Assessment
Some of the key geographies in the powder polyester resins market are North America, Europe, and the Asia Pacific. Latin America has also been a promising regional market. Rising production of polyester-based powder coatings in Asian and European countries have made these as substantial revenue contributors for the global market. Europe in particular has been a lucrative market due to the fact that industry players have been for long engaged in research and development of better chemistries for curing. Focus on end users on value and performance of coating systems is one of the key growth drivers for the North America powder polyester resins market.
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