Powder Coating Market Outlook for 2022

Powder Coating Market Outlook for 2022

Powder coating delivers a wide variety of value-added benefits when compared with liquid solvent-laden paint solutions. First of all, it is well noted for being an eco-friendly solution whose application consistently results in minimal VOCs emissions. Powder coating is also noted for its low operational costs when compared with most other alternatives currently in the market. It consistently delivers a top-quality, durable, uniform, scratch-resistant, and attractive finish to diverse substrates that many other alternatives are hard-pressed to replicate. Thanks to these and more qualities, powder coating has taken the global finishing market by storm. Today, numerous industries are clamoring for this solution. As such, its global market was worth a whopping $11.9 billion in 2020. Additionally, it is projected to register a compound annual growth rate of 7.2% from 2020 to 2027, when its value is forecasted to ultimately reach $20.1 billion.

Global powder coating market growth drivers

The global powder coating industry’s expansion is destined to be steered by the emerging economies of the Asia-Pacific and Middle East & Africa (MEA) regions. Indeed, the Asia-Pacific region happened to be the biggest market in 2020, registering a revenue share of 39.3%. Over the recent years since then, the powder coating sector experienced massive growth in Asia-Pacific due to the surging demand for it in diverse sectors. This includes the consumer goods, IT and telecom, furniture, automotive, medical devices, agricultural equipment, and machinery industries. 

powder coating market

In the furniture industry, in particular, there will be an ever-growing demand for powder-coated products in countries such as India, China, Brazil, and Mexico over the course of the projected time frame. This is largely due to this finishing solution’s amazing performance, lower operational costs, differentiating properties including anti-corrosion and anti-bacterial features, and even multiple colors availability. 

When it comes to the top-performing powder coating resin market, the polyester resin segment dominates the market and accounted for 28.1% of the market share in 2020. This is largely attributable to its superior properties like quick-drying, temperature resistance, chemical resistance, optimal surface protection, abrasive resistance characteristics, and so on. Today, there is a surging demand all over the world for powder coating polyester resin in a wide range of applications. This includes the automotive, metallic structural components, architectural, consumer products, manufacturing, and industrial industries.

top-performing powder coating

All of these, when combined, are forecasted to steamroll this segment’s further growth over the projected period. Epoxy-polyester resins otherwise known as hybrids are expected to register the quickest compound annual growth rate among this segment in the powder coating sector in the forecasted timeframe. This is mainly due to its superior attributes including toughness, weatherproof qualities, unparalleled versatility, and lower cost upon comparison with other coatings. 

In terms of the leading industries that rely on powder coating finishing, the consumer products segment is projected to continue its dominance over the overall global market. In 2020, this segment accounted for 23.7% of this finishing solution’s overall volume share. Best of all, it is forecasted to experience substantial growth thanks to a number of mitigating factors. This includes the growing purchasing power of consumers worldwide, improved living standards, and even the consequences of rapid urbanization. Some of the key factors that have led to this surging demand for powder-coated products are this finishing solution’s lack of harmful solvents, its extreme versatility upon comparison to traditional liquid-based paint. Not to mention its compliance with strict environmental regulations. Also, the automotive sector is expected to register the quickest growth in markets such as the US, Brazil, Mexico, Indonesia, Argentina, China, and South Africa.

Emerging innovations & technology in the global powder coating industry

Naturally, there are several emerging innovations and technologies which have contributed to the insatiable demand for powder coating a variety of products globally. To begin with, there has been a shift towards nanoceramic systems that has gained plenty of traction worldwide. Nanoceramic systems are a superior alternative for traditional iron, zinc, and phosphate and are renowned for delivering diverse economic, ecological, and process engineering benefits.

Emerging innovations

There are also newer and advanced powdered enamel systems which meet strict industry standards for corrosion protection, heat reflection, UV radiation resistance, antimicrobial and anti-graffiti qualities. These innovative metallic powdered enamels open up the feasibility of producing a finish appearance that’s analogous to the surfaces created with liquid-based paint. 

Another emerging innovation is the powder-to-powder solutions which meet the surging demand for energy efficiency, corrosion protection, and UV radiation resistance. They also make it possible to achieve high-quality finishes without the necessity for energy-intensive intermediate crosslinking. Newer powder coating solutions now combine powder prepping, conveyance, dosing, and even color changes into a completely automated and closed system. This integrated approach delivers improved productivity without in any way sacrificing quality standards.

powder-to-powder solutions

Lastly, new advanced intelligent powder coating software solutions have emerged, which hold the promise of being a game changer in this industry. Among other advantages, they deliver targeted and economical powder consumption along with highly lucrative outcomes for small lot coating quantities. Intuitive painting robot controllers now make it practical to set up robots rapidly for coating divergent substrates or even one-piece orders. These innovative solutions incorporate advanced robotics together with human intuition and flexibility. In turn, this does away with the need for intensive robotics programming. Today, new workpieces can be processed onsite by a single skilled painter who uses a manual remote control unit.

ZPar International is a foremost maker of top-quality powder coating equipment including batch units, cartridge batch units, and industrial batch ovens. We also offer the finest spray paint booth units that integrate diverse airflow styles.