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Global Powder Coating for Outdoor Application Market InsightJanuary 4, 2022 Comments
The Powder Coating for Outdoor Application is forecast to rapid growth over the next years. According to the World Knowledge Information (WKI) “Global Powder Coating for Outdoor Application Professional Survey Report 2021, Forecast to 2026”, The major benefit of the powder coatings is that it avoids the economic and environmental costs of petroleum solvents which are used in conventional liquid coatings. An increase in consumer per capita spending along with advancement in technology will drive the market during the forecast timeframe. The compound annual growth rate (CAGR) for the 2021-2026 period is projected to be 5.5% base on WKI regression analysis model.
“In recent years, major players in the powder coating for outdoor application market have adopted a number of strategic measures, such as product launches and geographic expansion, in order to gain a competitive advantage in the industry. The overall market for powder coatings is relatively fragmented, with leading companies occupying the main market. Powder coatings are affected by the demand of the downstream market, there will be a lot of room for development in the future, and will also attract more market participants. If small and medium-sized enterprises want to occupy more markets, they must adopt a cooperative strategy to strengthen product research and development. At the same time, corporate producers can turn to product research and development of environmentally friendly coatings. Environmental issues have attracted more and more attention. In the future, environmentally friendly powder coatings will be favored by consumers in the application market.” said Susan, Senior analyst, Chemical industry Market Research Center in WKI.
One of the fastest growing markets for powder coatings is the construction and construction market, which is mainly due to the durability provided by powder coatings. With the wide variety of colors and finishes of powder coatings, more and more construction companies are turning to powder coatings to provide long-term exterior finishes for outdoor venues and public works projects. In addition, the expansion of polyester resin technology, that is, stable low-gloss formulations, provides opportunities for the construction market to promote powder coatings growth. However, affected by the epidemic, all private buildings and construction sites, and government constructions were hit drastically. Retailers are also canceling already placed bulk orders of paint and coatings products due to the shutdown of the market. Overall, the sales of paints and coatings products are hampered at the distributors’ level due to the suspension of construction and building activities.
The powder coatings market is a partly fragmented market, with only a few international players holding a considerable share. Some of these major players include Akzo Nobel NV, BASF, 3M, Axalta Coating Systems LLC, The Sherwin-Williams Company, PPG Industries Inc., Valspar Corporation and Jotun, among others. Some companies continue to expand their own markets through mergers, cooperation and other strategies. BASF, a chemical company that is the largest chemical producer around the world, is going to introduce a digital sales platform in collaboration with Agilis Chemicals, for its OPPANOL polyisbutene product family.
Segmentation of Powder Coating for Outdoor Application Market:
On the basis of product type, Powder Coating for Outdoor Application market is segmented into: Gerneral Powder Coating and Functional Powder Coating. Among them, functional powder coatings occupy a larger market share. Functional powder coating is a surface coating material with special functions and for special purposes. It can not only play a traditional role in protection and decoration, but also endow the material with a variety of specific functions, including insulation, conductivity, anti-pollution, heat resistance, flame retardancy, radiation protection and other functions. Base on the resin type, Powder Coating for Outdoor Application market is segmented into: Thermoset and Thermoplastic. Thermoset segment is projected to witness the fastest growth during the forecast period. Thermoset powder coatings are derived from different resins such as epoxies, polyesters, acrylics, and polyurethanes. They require lower curing temperature as compared to thermoplastic resins. It is important to subject the powder-coated substrate to heat to allow the thermoset to flow evenly on the surface. The most significant development in thermoset powder coatings is the capacity to engineer resin types with different properties for use in different applications. On the basis of the end users/applications, Powder Coating for Outdoor Application market is segmented into: Outer Wall, Door and Window, and Building outer Wall occupies a large share in the application market. In the North American market, the explosion of green construction practices and globalization have further increased the awareness regarding powder coatings as a viable option to coat architectural aluminum. Moreover, the expansion of polyester resin technology, namely stable, low-gloss formulas, provided architectural market opportunities that promoted the growth of powder coatings.
Powder Coating for Outdoor Application Market: Regional Analysis
Geographically, the Powder Coating for Outdoor Application market can be divided into North America, Europe, Asia-Pacific, Middle East and Africa. The Asia Pacific region dominated the global market share, owing to the growing income levels. Growth in the construction industry in the countries, such as India, Indonesia, Malaysia, and Thailand, is fueled by the growing service industry in the region, leading to an increase in migration, growing population, and shortage of residential houses in the region. Thus, this is driving the demand for the powder coatings market in the region. In addition, according to the National Development and Reform Commission of China, the Chinese government has increased investment in infrastructure construction. China has the world’s largest construction market, which has played a big role in promoting the powder coatings market.
Largest share area：Asia-Pacific
Largest share country：China