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 this optimism.
- 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. |
