Globally, the powder coatings market is estimated to be ~$13 billion and ~2.8 million MT in volume. It accounts for ~13% of the global industrial coatings market.
Asia accounts for close to 57% of the total powder coatings market, with China roughly accounting for ~45% of global consumption. India accounts for ~3% of global consumption in value and ~5% in volume.
Europe and the Middle East and Africa region (EMEA) is the second largest region after Asia-Pacific (APAC), accounting for ~23% share, followed by the Americas at ~20%.
The end markets for powder coatings are fairly diversified. There are four broad end segments:
1. Architectural
Aluminium extrusion for window profiles, facades, ornamental fencing
2. Functional
Coatings for drinking water, oil & gas pipelines, along with pipeline accessories such as valves, etc.Electrical insulation for rotors, busbars, etc. Rebar coatings
3. General Industry
Home appliances, heavy duty ACE (Agricultural, Construction and Earthmoving equipment), electronics such as server housing, network equipment, etc.
4. Automotive &Transportation
Automotive (passenger cars, two wheelers)
Transportation (trailers, railways, bus)
Overall, the global powder coatings market is expected to grow at a CAGR of 5-8% over medium term.
Industrial coatings producers have entered 2023 in a much more sombre mood, as compared to the beginning of 2022. This is primarily on account of a slowdown in economic and industrial growth across different regions. These may be short-term hiccups, but over medium to long term, the powder coatings industry is poised for strong growth, driven by conversion from liquid to powder and newer growth opportunities such as electric vehicles, architectural applications, smart coatings, and the usage of powder coatings on heat-sensitive substrates.
Post time: Aug-16-2023
