Markets / Application
The list of current markets for powder coating is extensive as manufacturers of
items ranging from automobiles to toys, mechanical pencils, and appliances have
turned to powder coating to avoid using solvent based paints. A summary of the major
markets and products where powder coatings have the greatest commercial success
may be found in the following sections (click on application for a summary).
Future market opportunities will be developing based on new materials and processing
technology. These are described in the
Future Trends section of this Powder Coating Center.
The 2001 global thermosetting powder coatings market of over 900,000 tons is valued
at approximately $3.6 billion EUR. Regionally, Europe leads the way with approximately
43% of the world market, Asia 26%, North America 23%, and the rest of the world
with 8%. Penetration of powder coatings into the overall coatings market differs
by country and region from 4% to up to 15%.
Although annual growth rates have ranged from 15-20% during the last two decades
depending on the region, the growth has reduced significantly in recent years. In
Europe, 2001 was the first year without any growth. The robust growth of powder
coatings in the past was directly tied to the technology offering the lowest cost
finishing alternative for certain applications. The positive environmental aspects
of powder can be linked directly to an end-user's economic result. The general feeling
is that, although now a mature technology, powder coatings will still have a lot
to offer in the future.
According to independent market studies and other industry experts, the annual growth
will be 4-6% during the next several years. That means that the powder coating market
will grow faster than the general coatings market. There are several reasons for
- VOC legislation is believed to impose even more restrictions on conventional liquid
coatings in the near future.
- The trend toward efficiency and productivity will increase giving preference to
any coating system that benefits the end-user's bottom line.
- Continuous development work has contributed to ongoing improvements in the properties
and performance of the powder coating materials.
However, for future success it will be very important to open new application fields.
This is being done through the development of new material and powder coating equipment.
In addition to the economic advantages that powder coating brings to the end-user,
the coatings are also receiving recognition for their performance and durability
- so much so that the powder coating industry recently introduced a
trademark to compel consumers to seek out powder coating products and encourage
product manufacturers to powder coat their products.