EMEA Powder Coatings Market Size Forecast to Reach $4.1 Bill

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.

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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.

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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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