Global Thermosetting Powder Coatings Market: Overview

Thermosetting powder coatings contain thermosetting polymers as a basic constituent. Thermosetting polymers are petrochemical derivatives and can be cured with heat, through irradiation or chemical reaction. Powder coating is type of coating where free flowing dry powder is used. These do not require any solvent to keep them bound to the applied surface. Thermosetting powder coatings are used for coating of metal surfaces to form attractive and durable finishes. Metal surfaces include automobile parts, household appliances, drum hardware and other metal components in various industries. Major types of thermosetting powder coatings are epoxies, urethane, acrylic and polyesters.

Global Thermosetting Powder Coatings Market: Drivers and Restraints

Growing demand from automotive industry is expected to drive the thermosetting powder coatings market. Automotive components including interior and external metal parts require coatings to protect them from weathering conditions. Polyesters are major type of powder coatings used in the automotive due to their better outdoor weathering properties. Epoxies are used as functional coatings for interiors where adhesion, impact resistance and corrosion resistance is necessary. Automotive industry is driven by changing lifestyle and rising disposable income in developing countries of Asia Pacific. Further growing demand for thermosetting powder coatings in various industrial component manufacturing is anticipated to boost the market. Polyester and acrylic powder coatings are mainly used for coatings. Acrylic powder coatings are used to enhance the flow and leveling as well as chemical resistance and enhanced stain in polyester hybrid coatings. Hybrid thermosetting powder coatings are used in the manufacture of industrial components to achieve overall enhanced performance as they offer advantages of two or more powder coating at the same time. In addition, environmental regulations are expected to further fuel the thermosetting powder coatings market. Unlike liquid coatings, powder coatings do not need solvents in the application process; hence they are environment-friendly. Environment related agencies such as Environmental Protection Agency (EPA) and Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) promote use of powder coatings instead of liquid coatings to reduce environmental hazards.

Volatility in raw materials prices and supply issues are expected to hamper the market growth. Raw materials for thermosetting polymers are crude oil derivatives and are subjected to crude oil price volatility and demand – supply dynamics.

Global Thermosetting Powder Coatings Market: Regional Outlook

Asia Pacific emerged as the largest market for thermosetting powder coatings market in terms of production and consumption. China was the largest contributor in terms of thermosetting powder coatings production. Developing regions in Asia Pacific are expected to exhibit strong growth in the near future. Europe followed Asia Pacific in terms of consumption of thermosetting powder coatings. North America was the third largest market due to stagnated demand. The demand is expected to increase in the region due to increased availability of low cost of energy suppliers that will reduce the cost of applying powder coatings.

Global thermosetting powder coatings market was fragmented but it is on the verge of consolidation. Manufacturers have shifted their manufacturing bases to China from North America and Europe. Another reason for consolidation is low profitability due to overcapacities and stagnated demand in developed countries. Manufactures are competing based in prices due to intense competition in the market.

Global Thermosetting Powder Coatings Market: Company Overview

Development of new technologies may allow coatings on other materials such as medium density fiberboard using different methods. These developments and product innovation are expected to provide immense opportunities for the players in the market. Key players in thermosetting powder coatings market include Huntsman Corporation, Kemira, Solvay Chemicals, BASF SE, The Dow Chemical Company, Rhodia Chemicals, Akzo Nobel N.V., Dulux Powder Coatings, Lintec, PPG Industries, Tiger Drylac, TCI, Sherwin Williams and Ashland among others. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Thermosetting Powder Coatings Market

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