The growing demand for the Low-Temperature Powder Coating in the Medical sector, along with the increased application in Furniture, will boost the market growth.
Europe Powder Coatings Market Size – USD 3,386.7 Million in 2020, Growth - CAGR of 2.90%, Trends – High demand from end-use industries specifically from the automotive industry.
The global Europe Powder Coatings Market is forecast to reach USD 4,271.5 Million by 2027, according to a new report by Reports and Data. Low-Temperature Powder Coating is growing due to the rising concern for a luxury lifestyle and increasing standard of living in the developing nations.
The low-temperature powder coating is a technology that virtually removes the dangerous streams waste associated with conventional coating painting. These hazardous stream wastes include unused paint admixture, contaminated booth filters, cleaning solvents, and air emission. It also helps to reduce the exposures and liabilities associated with liquid coating use. The PC (powder coating) method distributes a small amount of mixture of resins and pigment onto a substrate.
However, continuously increasing prices of Low-Temperature PC is a major factor restraining the growth of the global Low-Temperature PC market.
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Top Companies: Akzo Nobel N.V., Axalta Coating Systems, LLC, Jotun A/S, PPG Industries, Inc., The Sherwin-Williams Company, Teknos Group, Forrest Technical Coatings, Platinum Phase Sdn Bhd, Tulip Paints, Protech Europe Powder Coatings Inc., and CIN Industrial Coatings, among others.
Further Key Finding from the Report Suggestion:
- Europe Powder Coatings usually adhere to the environmental norms as they have a very low concentration of (VOC) volatile organic compound emission. The environmental benefits offered by this product, coupled with the performance benefits, make it desirable among the end-users.
- By resin type, the polyester segment dominates the market. This segment is expected to register an impressive CAGR of 6.4% during the forecast time frame. One of the main reasons why polyester formulations are so popular for resins in PCs is that they are super durable. This helps them to retain their color, and a glossy finish, even after harsh weather exposure.
- The non-metal substrate segment is the faster-growing segment with a CAGR of 5.9% in the overall low-temperature PCs market. The need for sustainable and innovative products has driven many powder coating manufacturers to develop coatings for substrates, which have never been powder coated. New product applications for Europe Powder Coatings are being developed. These finishing materials are being used on heat-sensitive substrates such as wood and medium-density fiberboard (MDF), plastics, composites, glass, and preassembled parts.
- The Middle East Africa is poised to show stable growth. In contrast, Central South America is expected to witness lackluster growth owing to relatively weaker economic conditions and consumption trends.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Europe Powder Coatings market is segmented into:
Resins Type Outlook (Revenue, USD Million; Volume, Kilo Tons; 2020-2028)
Substrate Outlook (Revenue, USD Million; Volume, Kilo Tons; 2020-2028)
- Non- Metal
- Wood And Medium-Density Fiberboard (MDF)
- Plastics, Composites, Glass
End-Use Industry Outlook (Revenue, USD Million; Volume, Kilo Tons; 2020-2028)
- Electrical Electronics
- Automotive Transportation
- Building constructions
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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