Asia Pacific Epoxy Powder Coating Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Asia Pacific Epoxy Powder Coating Market Analysis
The Asia-Pacific epoxy powder coatings market is estimated to witness a significant growth, at an estimated CAGR of over 3%, over the forecast period. Rising demand from the building and construction industry and soaring demand for eco-friendly coatings are expected to drive the market during the forecast period.
- Immiscibility with other coatings and increasing prices of raw materials are likely to hinder the market's growth.
- Increasing Applications of Epoxy Powder Coatings is expected to create opportunities to the market's growth in the future.
- China is expected to dominate the market and is also expected to witness the fastest CAGR during the forecast period.
Asia Pacific Epoxy Powder Coating Market Trends
This section covers the major market trends shaping the APAC Epoxy Powder Coatings Market according to our research experts:
Increasing Usage in the Automotive Industry
- In the automotive sector, powder coatings are used in interior and exterior parts of vehicles, to add a pleasant appeal to them. They are also used in metallic parts, as well as plastic vehicle components of both interior and exterior types.
- Automotive coatings are used as protection against sunlight, material corrosiveness, and environmental effects, such as acid rain, hot-cold shocks, stone chips, UV radiation, car washing, and blowing sand, among others.
- Over a period of time, various companies have come up with different and new variants in coatings, such as heat and anti-reflective coating, electro-chromatic and smart coatings for windows, self-cleaning top coats, UV-curable powder coating system, iridescent and color changing base coat, and abrasion-resistant coatings for head lamps, among others.
- Automotive coatings can majorly be divided into two types, namely, automotive refinish and automotive OEM coatings.
- Automotive refinishing coatings are used to enhance the appearance and recover the damages caused by external factors, like temperature, and damage due to accidents, stones, and other debris, among others.
- These coatings are used by the automotive body shops and repair centers for refinishing the vehicles.
- All the aforementioned factors are expected to boost the demand for epoxy powder coatings in the region during the forecast period.
China to Dominate the Market
- In the Asia-Pacific region, China is the largest economy, in terms of GDP. China is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country's manufacturing sector is one of the major contributors to the country's economy.
- The continuous improvements in economic conditions in the region have enhanced the financial status of the consumers, in turn, boosting the demand for buildings and other infrastructural activities in the country.
- China's 13th Five Year Plan started in 2016 as it was an important year for the country's engineering, procurement, and construction (EPC) industry. In addition to this, the country ventured into new business models domestically and internationally, during the year.
- The Chinese aircraft industry depicted significant growth over the years. According to Boeing, China is estimated to require around 7,600 new commercial aircraft, valued at USD 1.2 trillion, over the next two decades.
- Foreign investment in China has also been extended into the aviation sector, which is projected to register a CAGR of 6%, owing to China's geographical location, which provides easy access to the industrial goods markets in the neighboring countries, as well as, other countries globally, making it a major access point for manufacturers and suppliers.
- Due to all such factors, the market for epoxy powder coatings in the country is expected to have a steady growth during the forecast period.
Asia Pacific Epoxy Powder Coating Industry Overview
The Asia-Pacific epoxy powder coatings market is partially fragmented in nature. Key players in the market include Akzo Nobel N.V., 3M, Jotun, PPG Industries, Inc., and The Sherwin-Williams Company, among others.
Asia Pacific Epoxy Powder Coating Market Leaders
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Akzo Nobel N.V.
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3M
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Jotun
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PPG Industries, Inc.
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The Sherwin-Williams Company
*Disclaimer: Major Players sorted in no particular order
Asia Pacific Epoxy Powder Coating Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Rising Demand from the Building & Construction Industry
- 4.1.2 Soaring Demand for Eco-friendly Coatings
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4.2 Restraints
- 4.2.1 Immiscibility with Other coatings
- 4.2.2 Increasing Prices of Raw Materials
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION
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5.1 Coating Type
- 5.1.1 Protective Coatings
- 5.1.2 Other Coating Types
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5.2 End-user Industry
- 5.2.1 Aerospace
- 5.2.2 Automotive
- 5.2.3 Buildings and Construction
- 5.2.4 Energy
- 5.2.5 Marine
- 5.2.6 Oil and Gas
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5.3 Geography
- 5.3.1 China
- 5.3.2 India
- 5.3.3 Japan
- 5.3.4 South Korea
- 5.3.5 ASEAN Countries
- 5.3.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share Analysis**
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 3M
- 6.4.2 Akzo Nobel N.V.
- 6.4.3 Axalta Coating Systems
- 6.4.4 BASF SE
- 6.4.5 Berger Paints India Limited
- 6.4.6 CARPOLY
- 6.4.7 Chugoku Marine Paints
- 6.4.8 Hempel A/S
- 6.4.9 Jotun
- 6.4.10 KCC Corporation
- 6.4.11 NIPSEA GROUP
- 6.4.12 PPG Industries, Inc.
- 6.4.13 Solvay
- 6.4.14 The Sherwin-Williams Company
- 6.4.15 Wacker Chemie AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Applications of Epoxy Powder Coatings
Asia Pacific Epoxy Powder Coating Industry Segmentation
The Asia-Pacific epoxy powder coatings market report includes:
| Coating Type | Protective Coatings |
| Other Coating Types | |
| End-user Industry | Aerospace |
| Automotive | |
| Buildings and Construction | |
| Energy | |
| Marine | |
| Oil and Gas | |
| Geography | China |
| India | |
| Japan | |
| South Korea | |
| ASEAN Countries | |
| Rest of Asia-Pacific |
Asia Pacific Epoxy Powder Coating Market Research FAQs
What is the current Asia-Pacific Epoxy Powder Coatings Market size?
The Asia-Pacific Epoxy Powder Coatings Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Epoxy Powder Coatings Market?
Akzo Nobel N.V., 3M, Jotun, PPG Industries, Inc. and The Sherwin-Williams Company are the major companies operating in the Asia-Pacific Epoxy Powder Coatings Market.
What years does this Asia-Pacific Epoxy Powder Coatings Market cover?
The report covers the Asia-Pacific Epoxy Powder Coatings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Epoxy Powder Coatings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Powder Coating Industry Report
Statistics for the 2024 Asia Pacific Powder Coating market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Powder Coating analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
