BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global metallic powder coatings market size at USD 1.98 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global metallic powder coatings market size to grow at a significant CAGR of 6.07% reaching a value of USD 2.99 billion by 2029. Major growth factors of global metallic powder coatings market include increasing production of automobiles and surging demand for medical devices. The demand for metallic powder coatings is increasing from various end-use industries, such as automotive, construction, and furniture, due to its excellent properties including high durability, corrosion resistance, and aesthetic appeal. Metallic powder coatings are considered eco-friendly as they contain no solvents or volatile organic compounds (VOCs), which make them a preferred choice for several applications. Also, the development of advanced technology for the production of metallic powder coatings has led to the introduction of new products with improved properties as well as stringent regulations related to VOC emissions and environmental pollution are driving the demand for eco-friendly coatings, including metallic powder coatings. Hence, all these aspects are expected to fuel the expansion of global metallic power coatings market during the forecast period. However, limited availability of raw materials and metallic powder coatings have limited color choices compared to liquid coatings are anticipated to restrain the overall market growth.
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Global Metallic Powder Coatings Market – Overview
Metallic powder coatings are a type of coating material made up of finely ground metallic particles that are mixed with a resin and applied to a surface using various methods such as electrostatic spraying or fluidized bed dipping. These coatings offer various advantages, such as high durability, corrosion resistance, and aesthetic appeal. Metallic powder coatings are widely used in various end-use industries, such as automotive, construction, furniture, and appliances. They can be categorized into two types: metallic effect powder coatings and metallic appearance powder coatings. Metallic effect powder coatings create a metallic effect on the surface, while metallic appearance powder coatings provide a true metallic appearance to the surface. The global metallic powder coatings market includes several key players that are actively involved in the production and distribution of these coatings.
Impact of COVID-19 on Global Metallic Powder Coatings Market
COVID-19 adversely affected the global paints and coatings marketing including metallic powder coatings, disrupting the production of raw materials used in manufacturing. Paint and coatings manufacturing in many major Asian countries, including India, China, Japan, Singapore, and Thailand, was affected as they are major suppliers of these raw materials. For example, China exports a significant amount of resins, which are essential for manufacturing paints and coatings. The shortage of raw materials has led to a decrease in the production of paints and coatings products. In April 2020, various industries, such as private buildings, construction sites, government projects, and automotive businesses that rely on paints and coatings were severely impacted by COVID-19. Retailers are also canceling bulk orders due to the suspension of the market, and end-users are not buying expensive coating technologies like polyurea and polyurethanes from distributors and retailers. The sales of paints and coatings products have been hampered at the distributor level due to the suspension of construction and building activities.
Global Metallic Powder Coatings Market – By Resin Type
By resin type, the global metallic powder coatings market is divided into Epoxy Polyester, Polyester, Epoxy, and Polyurethane segments. The polyester resin segment held the highest share in the metallic powder coatings market. These coatings are created by combining metallic pigments with a powder coating system that uses a polyester resin. They are specifically designed for exterior applications where a high-quality decorative finish is needed, as they provide superior flow and durability. Polyester-based metallic powder coatings also offer additional benefits, such as increased resistance to damage from metal rubbing and fingerprints, as well as Tribo-safe properties. These coatings can be applied to a variety of surfaces.
Competitive Landscape
Major players operating in global metallic powder coatings market includeAkzo Nobel N.V., Axalta Coating Systems LLC, BASF SE, Berger Paints India Limited, Jotun Group, Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., PPG Industries Inc., The Sherwin-Williams Company, RPM International Inc., TIGER Coatings GmbH & Co. KG, The Valspar Corporation, IFS Coatings, KCC Corporation, NOROO Paint & Coatings Co. Ltd., and Protech-Oxyplast Group. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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