According to the Graphical Research new growth forecast report titled “Europe Powder Coatings Market Size By Resin, Application, Substrate, Application Potential, Competitive Market Share & Forecast, 2020 - 2026”, Estimated to Exceed USD 3.4 Billion by 2026. Powder coatings are a commonly used as a surface finishing and are performed on substrates that are exposed to extreme weather conditions. They have a precise film thickness and enable simplified rectification of inappropriately coated areas, making them a preferred choice for various end-use applications.
Thermoset resin accounted for around 93% of the share in the Europe powder coatings market, in the resin segment. The resin has a unique chemical structure as compared to its other counterparts. It remains thermally stable post-curing treatment, which means it cannot be liquefied again Thermoset plastic resins include epoxy, polyester, polyurethane, acrylic, and epoxy-polyester hybrid. This type of resin is extensively used to coat appliances owing to their temperature-resistant properties. Favorable regulatory policies have fuelled the adoption of thermoset powder coatings across several end-use industries.
Automotive applications is expected to register a CAGR of 8%, in the application segment of the Europe powder coatings market. The automotive industry will grow rapidly as a result of Europe’s strong export base in regions which include Germany, Brazil, China, and Malaysia which have exhibited a surging demand for high profile luxury cars. The use of these coatings in numerous applications including underhood components, rims, and, door handles owing to the growing demand for superior texture and finish will spur product penetration in the automotive segment.
Europe powder coatings market for metallic substrate dominated the market and will grow at a CAGR of 6%. The coating is performed on metal parts exposed to extreme climatic conditions. Coating formulators and raw material suppliers are developing powder coating technologies that can be applied to metallic surfaces more efficiently to exhibit enhanced attributes and have a more diverse range of potential applications.
Key players in the Europe powder coatings market are AkzoNobel N.V., BASF SE, Jotun Powder Coatings and Evonik Industries. These players are focusing on acquiring regional players which already have an established presence in the market.
Europe Powder Coatings Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2019 to 2026, for the following segments:
Europe Powder Coatings Market Share, By Substrate
Europe Powder Coatings Market Size, By Resin
- Fusion Bonded Epoxy
Europe Powder Coatings Market Size, By Application
- Agriculture & Construction Equipment
- Oil & Gas
- General Metal
- Outdoor Furniture
- Playground Equipment
- Automotive & Transportation Components