Europe Powder Coatings Market Value was over USD 2.1 billion in 2019 and industry expects to witness significant gains at over 6.5% by 2026. Powder coatings are highly effective in applications such as general metal, automotive & transportation, and appliances owing to favorable features over regular coatings. The product cost-effectiveness, high transfer efficiency, easy product claim, and enhanced durability. Moreover, powder coatings provide high-quality finishes, corrosion resistance, gloss retention, abrasion & scratch resistance, thereby enhancing product penetration in varied industries.
Environment-friendly nature allows the end-use industries in complying with the stringent VOC norms. Moreover, increasing the count of powder coating machinery providers along with easy usability will drive the business expansion. Also, manufacturers are focused on capacity expansions to cater to the growing powder coatings demand in Europe.
Thermoset resin-based products dominate the global powder coatings market share in 2019. Epoxy, polyester, polyurethane, and acrylic are the types of thermosetting resins. Polyester resins are the most preferred type of thermosetting resins. High thermal stability allows the product to be stable post-curing treatment. Moreover, these products offer admirable weathering properties and require lower curing temperatures as compared to thermoplastic resins.
Appliances hold a notable share in Europe powder coatings industry in 2019. Europe is among the fastest-growing region in the electrical appliances market. Factors such as high consumer spending, and innovations in the appliances industry, and increasing competition are generating new growth opportunities for the powder coating manufacturers. Some of the major applications include refrigerator doors, freezers, kitchen appliances, microwave ovens, and water heaters.
Powder coatings for metallic substrates account for over 90% of the regional demand in 2019. Factors such as superior corrosion resistance, and improved resistance to other chemicals. Also, powder coatings are easier to apply on metallic substrates as compared to non-metallic ones. Also, expanding scope in general metal applications such as outdoor furniture, vending machines, and exercise equipment will create a long-term positive impact.
Germany powder coatings market revenue was over USD 450 million in 2019. Factors such as large powder coatings production capacity along with robust manufacturing output are propelling the business growth. According to the European Commission, Germany contributed for 28% share in the EU industrial output in 2018. The country ranked among the top 5 automotive manufacturing countries in 2018, and the largest producer in Europe.
Europe Powder Coatings Market Share is competitive with key players including AkzoNobel NV, Jotun Powder Coating, Axalta Coating Systems LLC, and PPG Industries Inc. Limited. Manufacturers focus on strategic acquisitions, collaborations, as well as new product launches to gain competitive advantage.