Market Overview

Powder coatings are solvent-free coatings with negligible Volatile Organic Compounds (VOC) emissions that makes them environment-friendly. Powder coatings provide economical, long--lasting and durable quality finish for metal parts and products. They also exhibit properties such as superior durability, scratch resistance, gloss retention, and resistance to chalking. These coatings are applied on metal parts exposed to extreme weather conditions.  Powder coatings are cost-efficient and are recyclable for use thereby, reducing the overall costs. Powder coatings market have controlled film thickness and provides easy rectification of poorly coated areas that makes them a preferred choice for various end-use applications.

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Powder coatings are used in door handles, rims, under hood components thereby providing superior finish and texture. Powder coatings constitute polymer resin systems combined with curatives, pigments, leveling agents, flow modifiers and other additives such as tin pigments and extenders. These ingredients are melted, mixed, cooled and ground into a uniform powder. The powder may be thermoplastics or thermoset polymer. Resins used are polyester and epoxy. Curing agents are added to bind the coatings. The application of this powder on to a metal surface is done by a process called electrostatic spray deposition (ESD). Thus, a spray gun is used, which applies an electrostatic charge to the powder particles, which are then attracted to the grounded part. The parts then enter a curing oven where, coupled with heat, the coating chemically reacts to produce long molecular chains, resulting in high cross-link density. This type of application is the most common method of applying powders.  They can also be applied to non-metallic substrates such as plastics and medium density fiberboard (MDF).

Market Dynamics

The global powder coatings market is expected to witness significant growth during the forecast period (2017-2023) owing to its high resistance to corrosion, high-quality finish and abrasion, durability, cost effective and reduced processing time. Based on resin type, thermoset resin is estimated to grow at a robust pace in the global powder coatings market during the forecast period. By application, the appliance is expected to generate the highest revenue in the global powder coatings market.

Trends

The increasing advancements in terms of durability, scratch resistance, gloss retention, and resistance to chalking is expected to result in the increasing penetration of powder coatings in regions having extreme weather conditions for protecting the metal parts when exposed to severe heat.

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Growth Drivers

High technology adoptions in the automotive sector on account of excellent performance, low operational costs, wide color availability and properties such as anti-corrosion and anti-bacterial functions is expected to spur the growth of powder coatings market during the forecast period.  Increasing usage in windows, doorframes, building facades, kitchen, bathroom and electrical fixtures is expected to further propel the growth of the overall market during the forecast period.

Growth Restraints

Procurement of thin-films is one of the major challenges faced in the powder coatings market. Thin finishes are difficult to obtain using these coatings, as the thickening of the polymer can lead to formation of an uneven texture.

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