Increased Application in Architectural Activities is Booming in Powder Coating Industry

According to the latest Arizton's market research report, the powder coating industry size to reach around USD 14 billion by 2026, growing at a CAGR of approximately 6% during the forecast period.

Factors Driving the Growth of the Global Powder Coating Industry

The adoption of powder coatings is increasing as these coatings are safe for the environment due to their low or no VOC content. The surge in the demand for sustainable solutions and meeting customers’ demands to enhance performance are the main growth drivers for the global powder coating industry. To reduce the impact on the environment, end-users are focusing to improve process efficiencies such as removing coatings steps or utilizing better coating materials. The powder coating industry is witnessing high demand from the aerospace industry. Technological advancements in the powder coatings industry will help aircraft manufacturers to extend the lifespan of aircraft and reduce fuel consumption. The petition for epoxy and polyurethane coatings will continue to increase in the aerospace industry. Owing to the number of advantages in the architectural application of powder coatings, players are increasing the production of coatings for architectural activities.

Read: Coating Additives Market - Global Outlook and Forecast 2021-2026

Interesting Facts to Know?

• Acquisitions and joint ventures will help PPG Industries Inc. to improve its organic growth in the global market.
• Fluoropolymer powder coatings are widely used in architectural markets due to their weathering properties and excellent color and gloss retention.
• The powder coatings market is experiencing around 6% growth after 2010, and it has undergone huge leaps in terms of technology.
• The European Commission has proposed to invest around USD 14 billion in transport projects. This investment proposal will increase the demand for powder coatings in the future.

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Key Offerings:

• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Segmentation – A detailed analysis by resin type, end-users, and geography
• Competitive Landscape – 5 Key Company Profiles and 28 Other Prominent Vendors

APAC to Witness Lucrative Growth Opportunities in the Global Powder Coating Industry

In recent years, the development of high-quality infrastructure and rising environmental concern in China and India has become one of the major growth enablers in the powder coating industry. Chinese Government goals for electric vehicles (EVs) are expected to drive the demand for powder coatings. EVs are targeted to increase 50% by 2035 and as the EVs industry grows, the powder coating industry to witness heavy demand across China. China is expected to be the largest contributor to the powder coating industry in the region. China will account for around 40% of global infrastructure investments by 2040, creating high growth opportunities for the powder coating manufacturers in the country. The demand for epoxy powder coatings is increasing in India across major industries as they provide optimal hardness, excellent chemical and corrosion resistance. Rapid urbanization and construction activities are supplementing the growth of powder coating in India. In APAC, the growth of the powder coating industry is high, mostly due to the increase of automobile industries.

Read: Waterborne Coatings Market - Global Outlook and Forecast 2021-2026

Strategies Adopted by Players to Intensify Competition in the Global Powder Coating Industry

Owing to the highly competitive and volatile environment in the powder coating industry, the future growth of the market mainly depends on the ability to anticipate, gauge, and adapt to the constantly changing market trends. The global powder coating industry manufacturers must develop environment-friendly coatings with low or no VOC content and successfully introduce new or improved products. The growth of the players depends on GDP growth and industrial development. With the increase in product and service extensions, technological innovations, and mergers and acquisitions, competition in the global powder coating industry is expected to intensify in the upcoming years. Cost-effectiveness is the major point of competition among players to gain an edge over other players in the market. 

AkzoNobel offers powder coatings to protect a variety of metal surfaces such as doors and window frames, car components, and home appliances. Continuous collaboration is a huge opportunity for the company to provide better products with advanced capabilities. AkzoNobel's powder coatings are the fastest growing and high-performing in the global market. The company aims to pursue top-line growth and increase long-term value for shareholders. 

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