Pure Epoxy Powder Coatings Market - Forecast(2023 - 2028)

Report Code: CMR 56928 Report Format: PDF + Excel

Pure Epoxy Powder Coatings Market Overview

The Global Pure Epoxy Powder Coatings market size is forecast to reach US$2.5 billion by 2027 after growing at a CAGR of 6.0% during 2022-2027. Pure epoxy powder coatings are high functional products made up of pure epoxy resins cross-linked with proprietary hardeners. Compared to other type of coatings such as triglycidyl isocyanurate powder coatings, pure epoxy coatings come with robust chemical resistance and corrosion protection, making them suitable for use in a wide spectrum of applications. Pure epoxy powder coatings are extensively used in the construction sector where they are utilized for coating pipes, ceiling panels, concrete floors, and several other construction applications. The construction sector is booming with increasing investment and new construction projects and this is expected to augment the market’s growth during the forecast period. For instance, according to the stats by India Brand Equity Foundation, FDI received in the construction development sector (townships, housing, built up infrastructure, and construction development projects) stood at US$ 26.14 billion between April 2000 and June 2021. Furthermore, pure epoxy powder coatings find their massive usage in the automotive sector due to their excellent temperature tolerance and corrosion resistance. The automotive sector is expanding globally with increasing vehicle production and sales and this in turn is expected to propel the market’s growth during the forecast period. For instance, as per the 2021 report by the European Automobile Manufacturers Association, passenger car registrations in the European region surged 25.2% in the first half of 2021. The use of pure epoxy powder coatings under direct sunlight leads to chalking, limiting the functionality of the coatings and this might hamper the market’s growth during the forecast period.

COVID-19 Impact

The global pure epoxy powder coatings market was deeply impacted due to the COVID-19 pandemic. The market came across challenges in the form of disruption in the supply chain and the idling of factories amid the pandemic. Market players came up with contingency plans to withstand the severity of the pandemic. Moreover, the slow growth rate in several end use sectors such as construction and automotive further affected the market’s growth. For instance, as per the stats by International Organization of Motor Vehicle Manufacturers, automobile production dropped 16% globally in 2020 due to the COVID-19 pandemic. Going forward, the market is expected to witness significant growth owing to the expansion of the construction and automotive sector.

Report Coverage

The “Pure Epoxy Powder Coatings Market Report - Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the pure epoxy powder coatings industry. 

By Type: Technical Grade, Industrial Grade, Chemical Grade, Others
By Form: Liquid, Solid
By Finish: Glossy, Semi Glossy, Satin, Matt, Texture, Sand Texture, Others
By Application: Heating and Lighting Equipment, Light Fittings, Internal Auto Components, Household Utensils, Fire Extinguishers, Laboratory Equipment, Water Transmission Pipelines, Metal Cans and Containers, Oil Filters, Control Panels, Garden Equipment, Others
By End Use Industry: Automotive (Passenger Vehicle, Commercial Vehicle), Electrical and Electronics, Construction (Residential, Commercial), Marine, Food and Beverage, Agriculture, Oil and Gas, Furniture, Others
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa).

Key Takeaways:

  • The automobile sector is driving the global pure epoxy powder coatings market’s growth. As per the June 2021 data by European Automobile Manufacturers Association, registrations of passenger car jumped 53.4% in the European region in May 2021 compared to the same month in 2020.
  • The construction sector is expected to propel the market’s growth during the forecast period. As per the November 2021 stats by Council on Foreign Relations (CFR), the US Congress announced its investment plan of US$1 trillion for the up-gradation of physical infrastructures such as bridges and roads.
  • The Asia-Pacific region is expected to witness the highest demand for pure epoxy powder coatings owing to the booming construction industry in the region. As per the stats by India Brand Equity Foundation, FDI received by India in construction (infrastructure) activities recorded at US$ 25.38 billion between April 2000 and June 2021.

Figure: Asia Pacific Pure Epoxy Powder Coatings Market Revenue, 2021-2027 (US$ Billion)

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Pure Epoxy Powder Coatings Market Segment Analysis - By Form

The solid form dominated the global pure epoxy powder coatings market in 2021, with a share of over 65%. Solid form specifically powder form offers formation of thicker and durable coating. Moreover, powder form allows manufacturers to prepare unique blend to match any texture, color, and finish. Owing to such robust properties, market players are focused on strengthening the powder form epoxy coating portfolio. For instance, In November 2021, AkzoNobel launched its new powder-based coating solution, Interpon W for heat sensitive substrates such as wood and plastic. Interpon W involves Interpon W Core range of powder coatings which includes epoxy and epoxy-polyesters and pure polyesters. Such expansion of powder-based epoxy coatings is expected to increase their demand in the market during the forecast period.

Pure Epoxy Powder Coatings Market Segment Analysis - By End Use Industry

The construction sector dominated the global pure epoxy powder coatings market in 2021, with a share of over 24%. The epoxy resin based pure epoxy powder coatings are extensively used in the construction sector owing to their superior chemical resistance. Pure epoxy powder coatings are used for coating floors, ceilings, pillars, and multiple other construction structures. The construction sector is booming globally with increasing investment and project announcements and this is expected to bolster the market’s growth during the forecast period. For instance, as per the August 2021 report by Eurostat, production in the building construction segment in the European Union and Euro Area grew by 3.8% and 3.1% respectively in June 2021. Similarly, according to the January 2021 stats by India Brand Equity Foundation, demand for residential properties surged in India due to increased urbanization in the country. Such huge growth in the construction sector globally is expected to catapult the use of pure epoxy powder coatings, thereby driving the market’s growth during the forecast period.

Pure Epoxy Powder Coatings Market Segment Analysis - By Geography

The Asia-Pacific region held the largest share in the global pure epoxy powder coatings market in 2021, up to 34%. The high demand for pure epoxy powder coatings is attributed to the booming construction sector in the region. Pure epoxy powder coatings are used in large quantities for protecting several building structures such as facades, pipes, ceilings, pillars, among others. The construction sector in the region is displaying tremendous growth and this is expected to increase the demand for pure epoxy powder coatings during the forecast period. For instance, according to the Q4 2020 Global Construction Monitor stats by the Royal Institution of Chartered Surveyors, the construction market in Asia-Pacific had positive momentum (+8), making it the world’ largest construction market in 2020. This massive growth in the region’s construction sector is expected to stimulate the demand for pure epoxy powder coatings during the forecast period.

Pure Epoxy Powder Coatings Market – Drivers

Expanding automotive sector is driving the market’s growth

The automotive sector is one of the important markets for pure epoxy powder coatings. Compared to their counterparts such as triglycidyl isocyanurate powder coatings, the epoxy resin based pure epoxy powder coatings come with superior properties such as excellent corrosion protection and thermal resistance, making them a preferred choice in the automotive sector. The pure epoxy powder coatings are used in interior and exterior trim parts, seats, doors, and several other auto components. The automotive sector is expanding globally with increasing vehicle production and sales and this is expected to amplify the requirement for pure epoxy powder coatings. For instance, according to the stats by the European Automobile Manufacturers Association, passenger cars registrations surged in June 2021 in the European Union with Germany witnessing maximum demand with a 24.5% rise. Similarly, as per the data by India Brand Equity Foundation, in 2020, passenger cars and two wheelers dominated the domestic Indian auto industry accounting for a market share of 12.9% and 80.8% respectively, with a combined sale of over 20.1 million vehicles in the fiscal year 2020. Such massive expansion in the automobile sector globally is expected to increase the requirement for pure epoxy powder coatings, ultimately driving the market’s growth during the forecast period.

Booming construction sector is influencing the market’s growth

Pure epoxy powder coatings find their extensive usage in the construction sector. These coatings provide good chemical resistance and protection against abrasion, owing to which they are used in numerous building and construction structures such as concrete floors, roof sheets, pillars, facades, etc. The construction sector is booming globally with increasing investment by governments and new project announcements and this in turn is expected to propel the growth of the market during the forecast period. For instance, according to the data by InvestIndia, construction sector in India is projected to reach US$ 1.4 trillion by 2025. Similarly, as per the report by Federal Reserve Economic Data, total spending in the US residential construction segment amounted to US$ 657,608 in September 2020 compared to US$ 642,031 in August 2020. Such a massive boost in the global construction sector is expected to bolster the use of pure epoxy powder coatings, in turn influencing the market’s growth during the forecast period.

Pure Epoxy Powder Coatings Market – Challenges

Insufficient resistance to ultraviolet light might hamper the market’s growth

The pure epoxy powder coatings are prone to chalking when used on outer surfaces or open-air conditions. This has been a challenge in the market and is expected to hamper the market’s growth during the forecast period. The use of pure epoxy powder coatings is restricted as exposure to ultraviolet rays causes chalking. Owing to this, market players and research organizations are looking to improve the quality of epoxy powder coatings to withstand UV rays efficiently. For instance, as per the 2021 journal by ScienceDirect, hydrophilic nanosilica was added to epoxy powder coatings to enhance the performance of the coatings under ultraviolet rays. Such limitation of functionality of pure epoxy powder coatings might hamper the market’s growth during the forecast period.

Pure Epoxy Powder Coatings Market Industry Outlook

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the global pure epoxy powder coatings market. Global pure epoxy powder coatings top 10 companies include:
  1. PPG Industries
  2. Solvay S.A.
  3. Evonik Industries
  4. Axalta Coating Systems
  5. AkzoNobel N.V
  6. KCC Corporation
  7. Jotun
  8. Diamond Vogel
  9. Carpoly Chemical
  10. 3M

Recent Developments

  • In March 2022, PPG launched its new phenolic epoxy tank coating, PHENGUARD 985, for the marine and tank storage sectors.
  • In March 2022, PPG announced the expansion of its AMERLOCK Series of epoxy protective coatings with the launch of PPG AMERLOCK 600.
  • In July 2019, AkzoNobel added three new production lines (acrylic powder coatings, metallic powder coatings and powder primers) for the automotive sector at its powder coatings plant in China.

Relevant Reports

For more Chemicals and Materials Market reports, please click here
1. Pure Epoxy Powder Coatings Market- Market Overview
    1.1 Definitions and Scope
2. Pure Epoxy Powder Coatings Market- Executive Summary
    2.1 Key Trends by Grade
    2.2 Key Trends by Form
    2.3 Key Trends by Finish
    2.4 Key Trends by Application
    2.5 Key Trends by End Use Industry
    2.6 Key Trends by Geography
3. Pure Epoxy Powder Coatings Market- Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Pure Epoxy Powder Coatings Market- Startup companies Scenario Premium Premium 
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Pure Epoxy Powder Coatings Market– Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis - Major companies
6. Pure Epoxy Powder Coatings Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters five force model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of substitutes
7. Pure Epoxy Powder Coatings Market-Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Product/Market life cycle
    7.4 Distributors Analysis - Major Companies
8. Pure Epoxy Powder Coatings Market Segment Analysis – By Grade (Market Size -US$ Million, Billion)
    8.1 Technical Grade
    8.2 Industrial Grade
    8.3 Chemical Grade
    8.4 Others
9. Pure Epoxy Powder Coatings Market Segment Analysis – By Form (Market Size -US$ Million, Billion)
    9.1 Liquid
    9.2 Solid
10. Pure Epoxy Powder Coatings Market Segment Analysis – By Finish (Market Size -US$ Million, Billion)
    10.1 Glossy
    10.2 Semi Glossy
    10.3 Satin
    10.4 Matt
    10.5 Texture
    10.6 Sand Texture
    10.7 Others
11. Pure Epoxy Powder Coatings Market Segment Analysis – By Application (Market Size -US$ Million, Billion)
    11.1 Heating and Lighting Equipment
    11.2 Light Fittings
    11.3 Internal Auto Components
    11.4 Household Utensils
    11.5 Fire Extinguishers
    11.6 Laboratory Equipment
    11.7 Water Transmission Pipelines
    11.8 Metal Cans and Containers
    11.9 Oil Filters
    11.10 Control Panels
    11.11 Garden Equipment
    11.12 Others
12. Pure Epoxy Powder Coatings Market Segment Analysis – By End Use Industry (Market Size -US$ Million, Billion)
    12.1 Automotive
        12.1.1 Passenger Vehicle
        12.1.2 Commercial Vehicle
            12.1.2.1 Light Commercial Vehicles
            12.1.2.2 Heavy Commercial Vehicles
    12.2 Electrical and Electronics
    12.3 Construction
        12.3.1 Residential
        12.3.2 Commercial
            12.3.2.1 Office
            12.3.2.2 Hotels and Restaurants
            12.3.2.3 Educational Institutes
            12.3.2.4 Others
    12.4 Marine
    12.5 Food and Beverage
    12.6 Agriculture
    12.7 Oil and Gas
    12.8 Furniture
    12.9 Others
13. Pure Epoxy Powder Coatings Market Segment Analysis - By Geography (Market Size -US$ Million / Billion)
    13.1 North America
        13.1.1 USA
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 UK
        13.2.2 Germany
        13.2.3 France
        13.2.4 Italy
        13.2.5 Netherlands
        13.2.6 Spain
        13.2.7 Russia
        13.2.8 Belgium
        13.2.9 Rest of Europe
    13.3 Asia Pacific
        13.3.1 China
        13.3.2 Japan
        13.3.3 India
        13.3.4 South Korea
        13.3.5 Australia and New Zealand
        13.3.6 Indonesia
        13.3.7 Taiwan
        13.3.8 Malaysia
        13.3.9 Rest of Asia Pacific
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Colombia
        13.4.4 Chile
        13.4.5 Rest of South America
    13.5 ROW
        13.5.1 Middle East
            13.5.1.1 Saudi Arabia
            13.5.1.2 UAE
            13.5.1.3 Israel
            13.5.1.4 Rest of Middle East
        13.5.2 Africa
            13.5.2.1 South Africa
            13.5.2.2 Nigeria
            13.5.2.3 Rest of Africa
14. Pure Epoxy Powder Coatings Market-Entropy
    14.1 New Product Launches
    14.2 M&A’s, Collaborations, JVs and Partnerships
15. Pure Epoxy Powder Coatings Market- Industry/Segment Competition Landscape Premium
    15.1 Company Benchmarking Matrix- Major Companies
    15.2 Market Share at Global Level- Major companies
    15.3 Market Share by Key Region- Major companies
    15.4 Market Share by Key Country- Major companies
    15.5 Market Share by Key Application - Major companies
    15.6 Market Share by Key Product Type/Product category- Major companies
16. Pure Epoxy Powder Coatings Market- Key Company List by Country Premium Premium 
17. Pure Epoxy Powder Coatings Market Company Analysis- Business Overview, Product Portfolio, Financials, and Developments
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Pure Epoxy Power Coatings Market, by Type Market 2019-2024 ($M)
2.Global Pure Epoxy Power Coatings Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global Pure Epoxy Power Coatings Market, by Type Market 2019-2024 (Volume/Units)
4.Global Pure Epoxy Power Coatings Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America Pure Epoxy Power Coatings Market, by Type Market 2019-2024 ($M)
6.North America Pure Epoxy Power Coatings Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America Pure Epoxy Power Coatings Market, by Type Market 2019-2024 ($M)
8.South America Pure Epoxy Power Coatings Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe Pure Epoxy Power Coatings Market, by Type Market 2019-2024 ($M)
10.Europe Pure Epoxy Power Coatings Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC Pure Epoxy Power Coatings Market, by Type Market 2019-2024 ($M)
12.APAC Pure Epoxy Power Coatings Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA Pure Epoxy Power Coatings Market, by Type Market 2019-2024 ($M)
14.MENA Pure Epoxy Power Coatings Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)

LIST OF FIGURES

1.US Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
2.Canada Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
3.Mexico Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
4.Brazil Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
5.Argentina Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
6.Peru Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
7.Colombia Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
8.Chile Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
10.UK Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
11.Germany Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
12.France Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
13.Italy Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
14.Spain Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
16.China Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
17.India Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
18.Japan Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
19.South Korea Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
20.South Africa Global Pure Epoxy Power Coatings Industry Market Revenue, 2019-2024 ($M)
21.North America Global Pure Epoxy Power Coatings Industry By Application
22.South America Global Pure Epoxy Power Coatings Industry By Application
23.Europe Global Pure Epoxy Power Coatings Industry By Application
24.APAC Global Pure Epoxy Power Coatings Industry By Application
25.MENA Global Pure Epoxy Power Coatings Industry By Application