According to the analysis report , the global consumption of thermosetting powder coatings was estimated to be about 3 million tons last year, with a market value of about 10 billion US dollars. Last year, China accounted for 45% of the global consumption market of thermosetting powder coatings, or US$42.8 billion, followed by Western Europe, which accounted for 13% of the global consumption, the rest of the Asia-Pacific region, North America and Eastern Europe, which accounted for 12% of the global market, 8% respectively, and South America and other regions, which accounted for 14%. Powder coatings are a new kind of solventless 100% solid powder coatings, which are mainly used for on-line coatingol.com of metal base coatings. Due to the non-use of organic solvents in the coating process, powder coatings are environmentally friendly, solvent-free, pollution-free, recyclable, environmentally friendly, energy and resources saving, labor intensity reduction and high mechanical strength of the film. But there is a disadvantage - they need to be heated to coalesce the powder into thin films, which is usually limited to use on thermally insensitive substrates.
Thermosetting powder coatings are mainly based on epoxy resin and polyester powder. Because of the better weatherability of polyester powder coatings, polyester adhesives are usually used in decoration and construction applications. Such as: refrigerators, washing machines, vacuum cleaners, instrument shells, bicycles, furniture and other fields of epoxy resin with excellent adhesion to metal, corrosion resistance, hardness, flexibility and impact strength, so it is the first application of thermosetting powder coatings varieties. For example, paint pipes and reinforcing steel bars for concrete reinforcement. According to IHSMARKIT, the global consumption of polyester resin and epoxy resin in thermosetting powder coatings was about 780,000 tons and 480,000 tons last year. The output of thermosetting powder coatings in China was also the largest in the world last year, accounting for 46% of the world's total output, with a output of 1.06 million tons. Western Europe produces close to 300,000 tons, followed by Japan and the rest of the Asia-Pacific region, which produces close to 290,000 tons. From 2017 to 2022, the average growth rate of global market demand for thermosetting powder coatings will reach 46%/year. China will continue to maintain the highest growth rate of 65%/year, followed by Eastern Europe will maintain 5%/year. The average growth rate of mature markets such as Western Europe and North America will be 11%~14%/year in the forecast period. Latin America and Asia-Pacific except China will continue to grow at the highest rate of 65%/year. The average annual growth rate is 29% to 39%, according to the IHSMARKIT report. IHSMARKIT indicated that the application penetration rate of powder coatings in Western Europe was 18% of the total industrial coatings market, which was about 10% higher than that in the United States. This is mainly due to stricter air pollution regulations and the wider application of powder coatings in the construction market. In other parts of the world, the use rate of powder coatings in the industrial coatings market is only 4%~5%. It excludes that the three major international coatings manufacturers in China market account for about 30% of the powder coatings market, and the top nine manufacturers account for about 50% of the whole market. The largest producer is Axnobel, which has a 13% market share, AXALTA, which accounts for 6%, and the two companies share 40% to 45% of the powder coatings market in Europe. The remaining larger producers share about 7% of the European market.
In recent years, the industry has also undergone some integration, mainly because the output growth outside North America, Western Europe and Japan is faster. The direct change after the integration of the industry is the change of market share of each company. For example, Akzo Nobel's market share increased from 15% to 20% to 25% to 30% after it acquired Dow Chemical's former Rohmahas powder coatings business in 2010. Powder coatings are mainly used in five fields: metal surface treatment, household white furniture, construction, automobile and functional applications. Among them, the largest market is metal surface protection, such as furniture, commodity shelves and metal equipment, accounting for about 36% of the market demand, construction use accounting for 23% of consumption, followed by household appliances such as washing machine roof and drying drum accounting for 19%, functional applications including oil and gas pipelines and steel bars occupied 9%, steam. Wheels, engine blocks and oil filters account for 7% of the total consumption in vehicle applications. Since the beginning of this year, a major problem facing the global powder coatings industry is the rising cost of raw materials. The data show that the cost of raw materials for powder coatings has increased by 25% as a whole, and the cost of titanium dioxide and epoxy resin has increased by 50% and 20% respectively. According to IHSMARKIT data, because raw materials account for 60% to 65% of the total cost of powder coatings industry, the rising cost will have a significant impact on profitability. In addition, the global powder coatings industry will also face the continuous integration of manufacturers and the sustained rapid growth of demand, especially in emerging economies.
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