Big Market Research added a report on “South East Asia (SEA) Powder And Liquid Coatings Market By Resin Type (Epoxy, Polyester, Epoxy Polyester Hybrid, Acrylic, PVC, Nylon, Polyolefin, And PVDF), Coating Component (1K, 2K, And 3K), By Coating Method (Electrostatic Spray And Fluidized Bed) - Opportunity Analysis And Industry Forecast, 2014-2022”
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Powder coating is a dry finishing process in which fine particles of paint are electrostatically charged and sprayed onto a workpiece. These coatings possess properties such as prolonged durability along with resistance to abrasion, corrosion, scratching, and chemicals.
They cater to the requirements of end-user industries such as unlimited color selection; high & low gloss; metallic & clear finishes; and texture choices such as rough textures, smooth surfaces, wrinkled, and matte finishes to hide surface imperfections. Powder coatings not only maximize production but also improve coating efficiency and cut coating costs, as oversprayed powder coatings can be retrieved and reused as compared to liquid coatings.
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The market growth is driven by the supportive environmental regulations, increase in demand for appliances, growth in construction industry, rise in adoption of powder coatings over liquid coatings, and rapid economic growth in emerging countries. Powder coatings offer superior finish and durability, resulting in their increased shelf life.
They are highly desirable from an ecological standpoint, as they are manufactured and applied without the use of organic solvents. All these factors are expected to supplement the market growth.
However, powder coatings are not compatible in thin layer coating applications, which is a major drawback.
On the basis of resin type, the powder coatings market is bifurcated into thermoset and thermoplastics. Thermoset is further subsegmented into epoxy, polyester, acrylic, and epoxy polyester hybrid, while thermoplastics include PVC, nylon, PVDF, and polyolefin.
Majority of the powder coating formulations are based on thermosetting resins, mainly epoxy and polyester, owing to their better outdoor weathering and physical properties.
Based on the coating method, the market analysis is done by electrostatic spray method and fluidized bed method. Electrostatic spray is the highly adopted method by market players.
Unlike liquid coatings, powder coatings do not require venting, filtering, or solvent recovery. Strict environmental regulations in the paint and coatings industry drive the powder coatings market, as it does not require solvents, and minor amounts of volatile organic compounds (VOCs) are released during the cure.
The powder and liquid coatings industry is segmented into appliances; architecture; general industrial; furniture; agriculture, construction & earthmoving equipment (ACE), automotive; and others.
Geographically, the market is segmented into Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. Indonesia is the largest market, in terms of value for powder coatings, owing to relative rise in the consumers’ disposable income and growth in end-user industries such as automotive, appliances, and others.
The report also includes market share analysis by application segment in each of the countries such as Indonesia, Malaysia, Singapore, Thailand, Philippines, and Vietnam.
The powder coatings market in South East Asia accounted for $222.7 million in 2015 and is expected to reach $295.9 million by 2022, expanding at a CAGR of 4.2% during the forecast period.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current trends, drivers, and dynamics of the powder coatings market in these countries to elucidate the prevailing opportunities and the probable investment pockets.
- It offers qualitative trends as well as quantitative analysis from 2014 to 2022 to assist stakeholders to understand the market scenario.
- In-depth analysis of the key segments demonstrates the consumption of powder coatings in different applications across various industries.
- Competitive intelligence highlights the business practices followed by key business players across geographies.
- Key players and customers are profiled to understand the competitive market outlook.
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