general industrial. This trend is expected to continue as it is a
volatile organic compound (VOC) and solvent-free. Strict environmental regulations also boost the growth of this market.
The market has witnessed moderate growth during the past few
years and is expected to grow at a CAGR of 6. 3 percent, in
terms of volume, during the analysis period.
Significant drivers of the market include increasing adoption
of powder coatings over liquid coatings, supporting environmental regulations, increasing demand for appliances, booming
construction industry and rapid economic growth in emerging
countries. However, difficulty in the application of thin coats is
expected to impede this growth, analysts noted.
“Globally the market for powder coatings has grown in the
mid-single digits in 2016 with the bulk of that growth outside
of North America,” said Dan Szczepanik, director of marketing
– transportation segments, Sherwin-Williams. “Some segments
have grown at higher rates such as office and outdoor metal fur-
niture followed by increased adoption of powder in automotive
segments, especially in under body/under hood applications.”
“Historically in the global industrial coatings market, pow-
der utilization is slightly north of 10 percent,” Szczepanik added.
“That leaves a lot of room to grow and take share from liquid as
global environmental regulations start to take hold.”
“The global powder coatings market grew by 3-4 percent
in 2016, at a typical rate of +1-2 percent over the global GDP,”
said Michael Cash, senior vice president and president, indus-
trial coatings, at Axalta Coating Systems. “As with the past
three years, we found 2016 to be very encouraging in regards
to the powder market. Customers continue to seek new and
sustainable solutions, and we’ve found opportunities to meet
their efficiency, durability and environmental goals by convert-
ing liquid applications to powder with innovative technologies
like brighter metallic architectural coatings in our Alesta family
and more durable, corrosion resistant products for metal parts
in the transportation industry.”
According to Allied Market Research, Asia-Pacific accounted
for more than half of the total powder coatings market in 2015
and is expected to maintain its lead position throughout the
forecast period. This is attributable to the increasing domestic
production of automotive, appliances, and growing construc-
tion industry. In Asia-Pacific, China is the fastest growing coun-
try for the consumption of powder coatings and is expected to
continue this dominance during the forecast period in terms of
both, volume and revenue.
In North America, the biggest opportunity for growth in
powder coatings is the architectural market, where powder
coatings technology continues to lag behind other regions in
percentage of use for aluminum extrusions. “Globally, more
and more metal parts for automotive, truck, and trailer parts are
using powder coatings as their technology of choice due to its
durability and efficiency,” Cash noted. “Even within automotive
OEM plants, the technology continues to play a role as a durable primer for car chassis. Beyond these markets, the agricultural, construction and earth-moving equipment markets have
Photo courtesy of Sherwin-Williams
