Energy Efficient Powder Coatings Market Machinery Market Trends, Forecast 2019- 2024
Growing
furniture industry has propelled energy efficient powder coatings market. These
are mostly used when component range is quite heterogeneous. If component range
varies, there is a risk of discolouration due to high peak temperature. This
risk can be reduced with their use as it reduces peak temperature.
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The product increases the line speed, thus decreasing the throughput
time. Further, it is used in for metallic substrates, timber derivatives and
plastic components that cannot be exposed to high temperature that in turn is
anticipated to propel energy efficient powder coatings market during forecast
period.
Energy efficient powder coatings are low temperature or low cure
coatings. These do not require solvent for application that resolves the
problem of sagging. They are used in automobile wheels, aerospace, garden
equipment, furniture and job painting industry for timber derivatives and
facades. Additionally, it provides resistance from corrosion, chemical, impact
and UV rays.
Restriction for energy efficient
powder coatings market is short shelf life, limited gloss range, levelling
characteristics and storage conditions. It requires climate controlled storage
condition that increases the overall cost. Sometimes there is risk of operation
with empty hangers as with changes in colour and type of powder coating,
changes in oven settings is required that are not cost effective.
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Epoxy-polyester has its application in electrical, agricultural,
automobile and heavy-duty equipment and has substantial market share owing to
its shock resistant and corrosion resistant properties. Polyester has a
moderate share in energy efficient powder coatings market with use in furniture
and auto parts industry owing to good colour, weather resistance and gloss retention
on outdoor exposure.
The product is used in various segments including, furniture, automobile
& transportation, electrical, agricultural, aerospace, household and
consumer goods. Automobile and transportation holds major market share with its
usage in auto parts, gearboxes, frame rim and chassis. Electrical segment has
substantial share owing to its application for insulators.
Furniture has a moderate share in
energy efficient powder coatings market owing to scratch resistant, weather
resistance and gloss properties. These find application in household appliances
to increase resistance against food acids, chemicals, corrosion, wear &
tear, water and sewage. In consumer goods segment, these find application in
doors, air conditioning and refrigerator cabinets.
Energy efficient powder coatingse
market is consolidated with the presence of few big companies holding a large
industry share. Major players are AkzoNobel, Jotun, BASF, IGP, PPG Industries,
TCI, Kansai Paints, Axalta, Asian Paints, Berger Paints. Companies are heavily
investing in research & development activities, mergers, acquisitions and
new product launch to increase their share in industry. for instance, AkzoNobel
is planning to increase its industry share by separating its two business
focussed on speciality chemicals and paints. This would help in reducing their
uncertainties & risks and become more focussed.
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Energy Efficient Powder Coatings Market Machinery Market Trends, Forecast 2019- 2024
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Reviewed by GMI
on
July 03, 2019
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