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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.
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.
General Metals Segment to Dominate the Global Powder Coatings Market
In terms of application, the global powder coatings market has been divided into general metals, metal furniture, agriculture, construction, and earthmoving equipment, automotive, architectural, appliances, and others. The general metals segment accounted for a major share of the market in 2017. The appliance segment is projected to expand at rapid pace during the forecast period. Powder coatings are used in appliances, as they improve esthetic appeal and offer resistance to abrasion, chemicals, and temperature cycling. The automotive segment also accounted for a large share of the market. The segment is anticipated to expand at a significant pace during the forecast period. The architectural segment is likely to expand at a steady pace in the coming years, owing to stringent verification processes by governments for VoC emissions.
Asia Pacific Dominates the Global Powder Coatings Market
Based on region, the global powder coatings market can be classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of demand, Asia Pacific dominated the global powder coatings market in 2017. The market in the region is anticipated to expand at a rapid pace in the next few years due to its stable economy, increase in disposable income, and improvements in standards of living in countries such as China, Japan, Singapore, Malaysia, and Vietnam. In terms of volume and value, North America constitutes a large share of the market, due to a rise in environmental concerns and increased awareness regarding the harmful effects of solvent-based coatings. The market in Latin America is projected to expand at a significant pace in the next few years. The region accounts for a considerable share of the market, due to robust growth in the automotive sector, economic growth, reduction in inflation, and low lending rates.
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 powder coatings market has been segmented as follows:
Global Powder Coatings Market, by Type
- Epoxy Polyester Hybrid
- Others (includes Silicones and Urethanes)
- Polyvinyl Chloride (PVC)
- Polyvinylidene Fluoride (PVDF)
Global Powder Coatings Market, by Coating Method
- Electrostatic Spray
- Fluidized Bed
Global Powder Coatings Market, by Application
- General Metals
- Metal Furniture
- Agriculture, Construction, and Earthmoving Equipment (ACE)
- Others (includes Medium Density Fiberboard (MDF), Plastic, and Glass)
Global Powder Coatings Market, by Region
- North America
- Latin America
- Rest of Latin America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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