Product Overview

Powder coating is a process of applying dry powder or color to a metal surface. Unlike traditional liquid paint, it requires a solvent for the filler and binder parts to form in a suspending liquid. There are three types of powder coating- thermoplastic, thermosets, and UV curable powder coatings. They are available in an almost various range of textures and colors and used as decorative and protective finishes. It is more durable and provides and high-quality finish allowing for maximized production. Powder coatings find their application in the manufacturing and customization of car parts to household appliances.

Market Highlights

Global Powder Coatings market is expected to project a notable CAGR of 6.64% in 2030.

Global Powder Coatings Market to surpass USD 21.29 billion by 2030 from USD 11.17 billion in 2020 at a CAGR of 6.64% throughout the forecast period, i.e., 2021-30. The demand for Powder coatings is expected to accelerate due to rising per capita income, increasing consumer spending leading to increased demand for consumer products, automobiles, and furniture. Furthermore, powder coatings offer numerous advantages over other coatings including less VOC emission, lower operating cost, excellent appearance, and uniform thickness. A rise in the manufacturing of automobiles and a surge in demand for medical devices is estimated to be a major factor leading to the growth of the market in coming years.

Recent Highlights in Global Powder Coatings Market

In OCTOBER 2020, Axalta acquired a manufacturing site in Çerkezköy, Turkey, for its powder coating business.

In JULY 2019, AkzoNobel announced plans to add three new production lines at its Changzhou powder coatings plant in China – the company’s largest facility of its kind in the world

Global Powder Coatings Market: Segments

Thermoset segment to grow with the highest CAGR during 2021-30

Global Powder Coatings market is segmented by Resin into Thermoset and Thermoplastic. Thermoset segment held the largest market share in the year 2020 and will continue to dominate the market throughout the forecast period. Thermoset powder coatings comprise epoxy, polyester, polyurethane, acrylic, and epoxy-polyester hybrid. This type of resin is extensively used in the automotive and appliances industries owing to its temperature-resistant properties.

Appliances segment to grow with the highest CAGR during 2021-30

Global Powder Coatings market is bifurcated by the end-user into Appliances, Automotive, General Industrial, Architectural, Furniture, and others. The appliances segment held the largest market share in the year 2020 and will continue to dominate the market throughout the forecast period. The appliance segment is growing on account of two-fold benefits of being both aesthetically attractive as well as resistant to corrosion and abrasion. The appliances industry uses powder coatings for appliances such as refrigerators, vending machines, water heaters, air conditioners, and dryers. Technological advancement in the appliances market is expected to drive the market for powder coatings.

Market Dynamics

Drivers

Increasing demand for Powder Coatings in the Automotive industry

Powder coatings have a wide range of applications in the automotive industry including coating automotive engines, wipers, filters, wheels, chassis, shock absorbers, and other vehicle parts. Today, powder coating is commonly used in both the manufacture and customization of car parts owing to its exceptional corrosion-free and durability properties.

Shorter Curing and Drying Process

Powder coatings involve much shorter curing, drying, and processing time compared to other liquid coatings due to which the demand for powder coatings is mounting. It is generally cured on an average in ten minutes. Besides, powder coatings require less air and air exchanges within the curing oven and spray booth. As powder coatings do not have solvents or VOCs the heated air can be recycled thereby saving overall cost for the curing and drying process.

Restraint

Difficulty in Producing Thin Films

It is difficult to produce thin finishes using powder coatings. They produce a thick finish on metal products which results in the formation of uneven texture. It is challenging to control the speed and amount of powder applied to the substrate which is expected to hamper the powder coatings market.

Global Market: Key Players

Akzo Nobel NV

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.

Arkema Group

Axalta Coating Systems

Eastman Chemical Company

Evonik Industries AG

Nippon Paint Co., Ltd.

PPG Industries, Inc.

The Sherwin-Williams Company

The Valspar Corporation

Jotun A/S

Other Prominent Players

Global Powder Coatings Market: Regions

Global Powder Coatings market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.

Global Powder Coatings markets market in Asia Pacific held the largest market share in the year 2020. Asia Pacific will continue to dominate the Global Powder Coatings market owing to the growing automotive sector in this region. Besides, rapid urbanization and industrialization as well as infrastructural development is projected to bolster the global powder coatings market

Global Powder Coatings market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Powder Coatings market report also contains analysis on:

Powder Coatings Market Segments:

By Resin

Thermoset

Thermoplastic

Others

By Method

Electrostatic Spray

Fluidized Bed

Flame Spraying

Others

By Substrate

Metallic

Non-metallic

By End-User

Appliances

Automotive

General Industrial,

Architectural

Furniture

Others

Powder Coatings Market Dynamics

Powder Coatings Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

Contents

1. Executive Summary

2. Global Powder Coatings Market

2.1. Product Overview

2.2. Market Definition

2.3. Segmentation

2.4. Assumptions and Acronyms

3. Research Methodology

3.1. Research Objectives

3.2. Primary Research

3.3. Secondary Research

3.4. Forecast Model

3.5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

6.1. Growth Drivers

6.2. Restraints

6.3. Opportunity

6.4. Trends

7. Correlation & Regression Analysis

7.1. Correlation Matrix

7.2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

9.1. Demand Risk Analysis

9.2. Supply Risk Analysis

10. Global Powder Coatings Market Analysis

10.1. Porters Five Forces

10.1.1. Threat of New Entrants

10.1.2. Bargaining Power of Suppliers

10.1.3. Threat of Substitutes

10.1.4. Rivalry

10.2. PEST Analysis

10.2.1. Political

10.2.2. Economic

10.2.3. Social

10.2.4. Technological

11. Global Powder Coatings Market

11.1. Market Size & forecast, 2019A-2030F

11.1.1. By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12. Global Powder Coatings Market: Market Segmentation

12.1. By Regions

12.1.1. North America:(U.S. and Canada), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2. By Resin: Market Share (2019-2030F)

12.2.1. Thermoset, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-20

12.2.2. Thermoplastic, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3. By Coating Method: Market Share (2019-2030F)

12.3.1. Electrostatic Spray, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.2. Fluidized Bed, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.3. Flame Spraying, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.4. Others, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4. By Substrate: Market Share (2019-2030F)

12.4.1. Metallic, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.2. Non-metallic, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.5. By End User: Market Share (2019-2030F)

12.5.1. Appliances, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.5.2. Automotive, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.5.3. General Industrial, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.5.4. Architectural, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.5.5. Furniture, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.5.6. Others, By Value (USD Billion) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

13 Company Profile

13.1. Akzo Nobel NV

13.1.1. Company Overview

13.1.2. Company Total Revenue (Financials)

13.1.3. Market Potential

13.1.4. Global Presence

13.1.5. Key Performance Indicators

13.1.6. SWOT Analysis

13.1.7. Product Launch

13.2. Arkema Group

13.3. Axalta Coating Systems

13.4. Eastman Chemical Company

13.5. Evonik Industries AG

13.6. Nippon Paint Co., Ltd.

13.7. PPG Industries, Inc.

13.8. The Sherwin-Williams Company

13.9. The Valspar Corporation

13.10. Jotun A/S

13.11. Other Prominent Players

14 Consultant Recommendation

**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)