EMEA Powder Coatings Market - Forecast(2024 - 2030)
EMEA Powder Coatings Market Overview
EMEA Powder Coatings market size
is forecast to reach US$4.1 billion by 2026,
after growing at a CAGR of 4.8% during
2021-2026. Powder coating is a dry finishing coating technique used on a different
range of products for improving the protective characteristics and visual
appeal of the products. The electrostatic spray
is one of the most used methods of applying powder coating materials. Polyolefin coating is known as the most
versatile coating used among automotive applications. The increasing disposable
income and growing demand and usage of consumer goods are some of the major
factors expected to propel the market growth during the forecast period. The growing automobile industry in the European
region along with an increase in the production of passenger vehicles in the
region are driving the market growth between 2021-2026. These coatings have a low
impact on the environment, so the majority of end-users are using EMEA Powder
Coatings compared to others coating techniques. The growing construction
activities in Europe and MEA region are also supporting the market growth
during the forecast period. However, environmental challenges are hampering the
market growth during the forecast period.
COVID-19 Impact
The COVID-19 pandemic is impacting
different industries; one of the few industries that were largely hit to some
extent was the coatings industry. Due to the Covid-19, the construction and
automotive industry are impacted very badly which further impacted the powder
coating market. Lack of supply chain, low demand, and lack of workforce are the
major factors that negatively impacted the market during a covid-19 pandemic.
Delay in construction activities across the globe and economic crises are also
challenging the market growth.
EMEA Powder Coatings Market Report Coverage
The report: “EMEA Powder Coatings Market – Forecast (2021-2026)”, by
IndustryARC, covers an in-depth analysis of the following segments of the EMEA
Powder Coatings industry.
By Resin Type: Thermoset (Epoxy, Polyester [Pure Polyester (TGIC),
Hydroxyl Polyester (TGIC free), Carboxyl polyester, and others], Acrylic,
Fluoropolymer, Polyurethanes, Epoxy Polyester Hybrid, Silicon-Based Powders,
Others), and Thermoplastic (Polyamide, Polyethylene [Low-Density Poly Ethylene
(LDPE), and Linear Low-Density Poly Ethylene (LLDPE)], Polyvinyl Chloride,
Polypropylene, Polyolefin, Polyvinylidene Fluoride (PVDF), Polyether Ether
Ketone (PEEK), and Others
By Coating Method: Fluidized Spray, Electrostatic Fluidized Bed,
Electrostatic Spray [Corona Charging, and Tribomatic Static charging], Flame
Spraying, and Others
By Curing Method: Convection, Infrared, Ultraviolet (UV) Curing,
and Others
By Substrate: Metal (Steel, Aluminum, and Others), and Non-Metal
(Plastic, Wood, Ceramics, Glass, and Others)
By End-Use Industry: Automotive (Passenger Vehicles, Light
Commercial Vehicles, and Heavy Commercial Vehicles), Building and Construction
(Residential [Independent Homes, Rowhouses, and Large Apartment buildings],
Commercial [Hospitals and Healthcare Infrastructure, Educational Institutes,
Hotels and Restaurants, Banks and Financial Institution, Airports, Hyper and
Super Market, Shopping Malls, and Others], Industrial Construction, and
Infrastructure), Household Appliances (Vending Machines, Electrical Fans,
Refrigerators, Microwave, Washing Machine, Lawnmowers, and Others), Electrical
and Electronics (Electrical Motor Stators, Electrical Motor Rotors, Switch
Boxes, Electric Boxes, Transformers, Electric Meters, Electric Connectors, and
Others), Agriculture Industry (Tractors, Harvesters, Implements [Tiller,
Plough, Cultivator, and Others], Furniture, General Metal (Playground
Equipment, Bicycle Frames/Wheels, Golf Carts & Clubs, Wheelchairs, and
Others), Medical, and Others
By Geography: Europe (UK, Germany, Italy, France, Netherlands,
Belgium, Spain, Denmark, and Rest of Europe), Middle East (Saudi Arabia, UAE, Israel,
and Rest of Middle East), and Africa (South Africa, Nigeria, and Rest of
Africa)
Key Takeaways
- Powder Coatings offer numerous advantages over other coatings, such as lower VOC emission, uniform thickness, low operating costs, immediate availability, excellent appearance, and others.
- Powder Coatings have superior durability, gloss retention, scratch resistance, and resistance to chalking among others.
- The European region is expected to grow at a CAGR of 4.5% in EMEA Powder Coatings market during 2021-2026, due to the presence of key automotive players in the region.
Figure: Europe Powder Coatings Market Revenue, 2020-2026 (US$ Billion)
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EMEA Powder Coatings Market Segment Analysis - By Resin Type
The thermoset resin segment accounted for the largest market share in the EMEA powder coatings market. The polyester resin type accounted for approximately 25% of the thermoset resin type segment in 2020 and is also estimated to grow at a significant CAGR during the forecast period. Thermoset resin offers superior properties such as quick-drying, surface protection, chemical resistance, abrasion resistance, temperature resistance, and others. Thermoset components are extensively used in a wide range of industries such as appliance, electrical, automotive, and others. These are some of the major factors driving the market growth for thermoset resin type during the forecast period. The Epoxy resin segment is expected to grow at a high CAGR of 5.1% during the forecast period, owing to its high toughness, flexibility, and weather ability properties.
EMEA Powder Coatings Market Segment Analysis – By Substrate
The metal segment accounted for
more than 50% of the market share in 2020 and is
estimated to grow significantly during the forecast period. Metal substrates
include steel, aluminum, metal substrates find their usage in different
industries such as construction, consumer appliances, aerospace, automotive,
electric & electronics, and others. Metal products offer high strength,
toughness, ductility, weldability, durability, and others. These are some of
the major properties expected to propel the market growth during the forecast
period
EMEA Powder Coatings Market Segment Analysis – By Coating method
The fluidized spray segment is
expected to hold a significant share in the market also expected to register
decent growth during the forecast period. The process is used for coatings
between 10-15 mils. The process offers various advantages such as uniform
coating, thick coating, low investment and maintenance costs, and others. These
are the major factors propelling the market growth during the forecast period.
The electrostatic spray method is expected to grow at a rapid pace during the
forecast period. The automotive industry
uses electrostatic spray coating to coat car body panels.
EMEA Powder Coatings Market Segment Analysis – By End-Use Industry
The automotive segment accounted
for more than 15% of the market share in 2020 and is estimated to grow
significantly during the forecast period. The presence of leading automotive
companies in Europe such as BMW Group, Fiat Chrysler Automobiles, DAF Trucks,
Daimler, Jaguar Land Rover, PSA Group, and Renault Group among others are
supporting the market growth. Rapid utilization of high-quality metal
solutions in the manufacturing of automotive parts and components is supporting
automotive growth. The household appliances segment is expected to register a
decent share in the EMEA powder coatings market. Growing demand for consumer
appliances such as fans, washing machines, refrigerators, and others are also
boosting the market growth during the forecast period.
EMEA Powder Coatings Market Segment Analysis - By Geography
Europe region held the largest share in the EMEA powder coatings market in 2020 up to 80%, due to increased consumer spending, rising per capita income, and varying consumer. The presence of well-developed nations such as the Germany, U.K., France, and others are driving the market growth in the region. Germany is one of the leading countries involved in the usage of powder coatings. Socioeconomic developments by the regional governments along with the housing subsidies will positively impact the architectural & build sector in the European region. According to the data published by the Ministry of Housing, Communities and Local Government, about 160,640 new build dwelling are started in England in 2019. They also mention that approximately 173,660 new house constructions are completed in 2019. According to the data published by Federal Statistical Office, approximately 306,376 new dwellings are constructed in Germany during the year 2020. They also mention that the German government has issued new permits for 368,589 dwellings in 2020.
EMEA Powder Coatings Market Drivers:
Growing construction industry
The usage of powder coating in the construction sector is increasing gradually due to its protective properties from the environment. Over the past few years, construction industries are growing significantly. The economic growth, investments in infrastructure projects, and technology advancements are boosting the industry. The construction sector plays an important role in the European economy. According to the data published by European Commission, the construction sector provides 18 million direct jobs and contributes to about 9% of the EU's GDP. The UAE construction sector recorded growth of 3.3 percent in 2019 and it is expected to register 4.3% by 2021. According to the Khaleej times, approximately US$198.8 billion worth of projects were completed in the GCC in 2019.
Growth in various end-use industries
Powder coatings find
their applications in various end-use industries such as automotive, appliances,
furniture, architectural, general industrial, and others. There is a constantly
growing demand for powder coatings with new applications in the end-use
industries. The furniture and appliances industries will grow steadily in the
future. IT and telecom are also new markets, where applications of powder
coatings are extensively explored. The coatings are used for window handles,
door handles, bumpers, radiator coil springs, shock absorbers, and breaking
parts in the automotive industry. According to the data published by ACEA,
approximately 18.5 million motor vehicles were produced in the European Union
in 2019. They also mentioned about 10.8 million passenger cars are produced in
the European Union in 2020.
EMEA Powder Coatings Market Challenges:
Environmental challenges
The powder coating
industry is facing many environmental challenges globally. The increasing state
and local regulations regarding wastewater discharge are restraining the market
growth. Powder coating operations include metals, oil & grease, and
suspended solids they generate waste streams during cleaning and pre-treatment operations.
Metal finishing companies using electroplating processes are facing the
challenges of heavy metal contamination in wastewater.
EMEA Powder Coatings Market Landscape
Technology launches, acquisitions, and R&D
activities are key strategies adopted by players in the EMEA Powder Coatings
market. Major players in the EMEA Powder Coatings market are Kansai Paint Co., LTD,
Asian Paints, Jotun and Evonik Industries AG, PPG Industries, Inc., The
Sherwin-Williams Company, Valspar Industrial, Akzo Nobel NV, BASF SE, Koninklijke
DSM NV, Arkema SA, DuPont, TCI Powder, Kansai Paint Co., Ltd, and others.
Acquisitions/Technology Launches
In
March 2020, PPG acquired Alpha Coating Technologies, a light industrial powder
coatings manufacturer. Alpha focuses on the development, manufacture, and sale
of powder coatings for light industrial applications; medium density fiberboard
and heat-sensitive substrates
In July 2019, Akzo Nobel company planned to add three new production lines at its Changzhou powder coatings plant in China. The US$ 3.3 million investments will support additional supplies of acrylic powder coatings, metallic powder coatings, and powder primers for the automotive sector
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