Thermosetting Powder Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- Transparency Market Research
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.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from Materials
MaterialsChinese Markets for Roofing Materials
Chemicals and MaterialsGlobal Market Study on Sodium Cyanide: Upswing in Mining Activities Boosting Sales Prospects