Epoxy Powder Coatings Market: Introduction
Epoxy material is primarily used in the paint & coating industry. Epoxy accounts over 40% of paint & coating industry and powder coating is the technology that is used in coating applications. Epoxy powder coatings is the latest technology in the paint & coating industry that use 100% solid coating material and contain negligible VoC (volatile organic coating) material. Basically, Epoxy powder coatings are used to essentially eliminate solvent emissions. Epoxy powder coatings were preferred for only protective coatings but now a days these coatings also use in architectural & decorative applications. Epoxy Powder Coatings are cost efficient, recyclable and non-volatile in nature. These features glare the growth of the epoxy powder coatings market across the globe over the forecast period.
Epoxy Powder Coatings: Market Dynamics
Soaring demand of epoxy powder coatings from automotive and construction industry is the key factor for the growth of global epoxy powder coatings market. Construction industry is the one of the largest end user of epoxy coating in term of revenue generation. With the rise in urbanization, the housing and building construction is increasing along with the increasing demand for non-VoC (volatile organic coating) products. These factors are expected to glare the growth of epoxy powder coatings market over the forecast period. In some countries, government imposed stringent regulations on VoC products which increases the sales of ecofriendly products. This factor directly effect on the growth of epoxy powder coatings market. Moreover, epoxy powder coatings are also getting traction in other end use industries such as marine, aerospace, chemical industries due to its ecofriendly nature. In Architectural & Decorative coating application, epoxy powder coating are prefer over solvent & water based coating as these coating don’t emit harmful emission which causes health problems.
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Epoxy powder coatings have low performance in exterior applications, this factor is expected to hamper the growth of the epoxy powder coatings market. Moreover, due to lack of awareness among consumer in developing countries, the adaptation rate of epoxy powder coatings is relatively low as compared to solvent based coating. Epoxy water coating and Epoxy solvent coating are cheaper than epoxy powder coatings, which is also a challenge for the growth of market over the forecast period
Epoxy Powder Coatings: Market Segmentation
Epoxy Powder Coatings Market can be segmented by Application and by End Use:-
On the basis of application, the global epoxy powder coatings market can be segmented into:-
Architectural & Decorative Coating
On the basis of end use, the global Epoxy Powder coatings market can be segmented into:-
Marine & Aerospace
Oil & Gas
Epoxy Powder Coatings: Regional Outlook
North America, led by Europe is expected to dominate the global Epoxy Powder coatings market. Increase in demand for ecofriendly coating in the developed regions along with increasing investment in the construction industry are the factors which boost the growth of Epoxy Powder coatings market. In developing regions such as China, India, construction industry is growing with significant pace along with the demand for energy efficient & environment friendly products. This factor is estimated to accelerate the growth of epoxy powder coating market in the region. Furthermore, significant growth in the automotive industry in the Asia pacific regions is also one of the key factor for the growth of epoxy powder coating market. Latin America Epoxy Powder coatings market is expected to create significant growth opportunities over the coming years primarily due to increasing construction activities coupled with positive economic outlook in the countries such as Brazil, Costa Rica, Argentina and Mexico. MEA Epoxy Powder coatings market is expected to grow at a moderate growth rate over the forecast period.
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Epoxy Powder Coatings: Key Participants
Examples of some of the market participants operating in the global Epoxy Powder coatings market are as follows:
Nippon Paint Holdings Co., Ltd.
Evonik Industries AG
PPG Industries Inc.
Chugoku Marine Paints
Carpoly Chemical Group Co., Ltd.
Axalta Coating Systems
Akzo Nobel N.V