Pune, Maharashtra, October 22 2020 (Wiredrelease) Graphical Research –:The powder coatings world is consistently witnessing new trends and developments that require manufacturers to stay up-to-date. The switch to powdered coatings has been one of the most ecofriendly transformation in the field of industrial coatings.
Over the past few decades, these high-performance coatings have made their way into innumerable applications ranging from architectural design, automotive and transportation components, agriculture and construction equipment, and appliances. Europe powder coatings market is set to experience a substantial boost in the upcoming years, with rapid expansion of construction and automotive sectors.
Here are some of the most prominent trends augmenting the product consumption across Europe.
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Robust demand for thermoset resin-based products
Powered coatings can be bifurcated into thermoset, thermoplastic, and fusion bonded epoxy-based solutions based on the resin. Thermoset-resin based powder coatings mainly preferred in automotive, construction, and other applications on account of exceptional weathering properties.
The different types of thermosetting resins include polyurethane, polyester, epoxy, and acrylic. Polyester resins are most widely used in industrial applications on account of their high thermal stability which allows them to be stable after curing treatment. Furthermore, polyester resins need a lower curing temperature as opposed to thermoplastic resins.
Extensive application of metallic substrates
On the basis of substrates, powder coatings can be classified as metallic and non-metallic. Metallic substrates captured more than 90% revenue share of powder coatings industry in 2019 and is projected to grow considerably in the coming years.
The application of powdered coatings on metallic substrates is much easier as compared to non-metallic substrates. Moreover, these substrates offer superior resistance against corrosion and a wide range of chemicals. The growing scope of metals and alloys in applications such as outdoor furniture, exercise equipment, vending machines, and automotive and construction equipment will promote the product adoption.
Growing utilization in electrical appliances
The numerous applications of powdered coatings include architecture, agriculture and construction equipment, oil and gas, pipeline, appliances, automotive and transportation components. They are also used in general metal applications such as playground equipment and outdoor furniture. The use of these coatings in appliances is expected to witness rapid growth in the forthcoming years.
Europe is among the leading manufacturers and consumers of electrical household appliances. This can be linked with several factors such as growing penetration of new entrants, constant innovations in the appliances industry, and increased consumer spending. Powder coatings are widely used in kitchen appliances, refrigerator doors, freezers, water heaters, and microwave ovens.
Presence of notable automakers in Germany
Germany powder coatings industry size was valued at more than US$450 million in 2019 and is expected to grow over the next few years. The regional demand can be mainly attributed to a massive powder coatings production capacity and a robust manufacturing output. The country accounted for more than 28% of the European Union output during 2018, as per the European Commission.
In addition, Germany is home to some of the world’s most established luxury car manufacturers. In 2018, the country had been listed among the top 5 automotive manufacturing countries, and the largest in Europe. These trends will offer promising opportunities to local suppliers.
Constant innovations by manufacturers
PPG Industries Inc., AkzoNobel NV, Axalta Coating Systems LLC, and Jotun Powder Coating, are among the leading powder coating manufacturers in Europe. These companies are constantly innovating to bring novel solutions to the market.
Citing a recent instance, in June 2020, AkzoNobel’s powder coatings business launched the new Interpon Redox range of high-performance primers that offers superior corrosion protection. The new range of products include four new innovative formulation that cover a range or surface, substrates, and environments, ranging from chemical plants to swimming pools and highly corrosive areas to high humidity regions.
In the near future, the demand for high-performance functional coatings solutions across Europe will be mainly driven by the presence of several major automotive OEMs and automakers focusing on building next-generation auto designs. The durability, aesthetics, and availability of a wide range of color options will further propel the product demand.
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This content has been published by Graphical Research company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at [email protected].
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