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According to the latest analysis report completed by IHS Markit, the global consumption of thermosetting powder coatings in 2017 is estimated to be 2.
3 million tons, with a market value of approximately US$9.
5 billion.
Last year, China accounted for 45% of the global thermosetting powder coatings consumer market, or US$4.
28 billion; followed by Western Europe, accounting for 13% of global consumption; the rest of the Asia-Pacific region accounted for 12% of the global market; North America and Eastern Europe each accounted for 8%; South America And other regions accounted for 14%.
Powder coating is a new type of solvent-free 100% solid powder coating, mainly used for metal substrates.
Since organic solvents are not used in the coating process, powder coatings are not harmful to the environment, and have the characteristics of solvent-free, pollution-free, recyclable, environmentally friendly, energy and resource saving, labor intensity reduction, and high mechanical strength of the coating film.
But there is a disadvantage that they require heating to coalesce the powder into a film, which usually limits their use on substrates that are not sensitive to heat.
Thermosetting powder coatings are mainly based on epoxy resin and polyester powder.
Because polyester powder coatings have better weather resistance, polyester adhesives are usually used in decoration and construction applications, such as refrigerators, washing machines, vacuum cleaners, instrument housings, bicycles, furniture and other fields.
Epoxy resin has excellent adhesion to metals, corrosion resistance, hardness, flexibility and impact strength, so it is the first variety used in thermosetting powder coatings, such as coating pipes for concrete reinforcement and reinforcing steel bars.
According to IHS Markit, among the global thermosetting powder coatings in 2017, the consumption of polyester resin was approximately 780,000 tons, and the demand for epoxy resin was approximately 480,000 tons.
"Coating formulators have a certain degree of freedom to use one resin rather than another when designing a formulation, because they can incorporate more polyester than epoxy resin in mixed powder coatings," Coatings-Thermosetting "Powder" lead author Eric Linak said.
"In the past year, also because of the sharp increase in the price of epoxy resin, so the consumption of polyester may be faster than the growth rate of epoxy resin," Linak said.
In terms of thermosetting powder coating output, China's output in 2017 was also the world's largest, with an output of 1.
06 million tons, accounting for 46% of the world's total output.
Western Europe produced close to 300,000 tons, followed by Japan and the rest of the Asia-Pacific region, with production close to 290,000 tons.
It is estimated that between 2017 and 2022, the average growth rate of the global thermosetting powder coating market demand will reach 4.
6%/year, and China will continue to maintain the highest growth rate of 6.
5%/year, followed by Eastern Europe, which will maintain an average growth rate of 5%/year.
During the forecast period, the average annual growth rate of mature markets such as Western Europe and North America will be 1.
1%-1.
4%/year, and the average annual growth rate of Latin America and the Asia-Pacific region except China will be 2.
9%-3.
9%, according to the IHS Markit report.
Udo Buchholz, chief analyst at IHS Markit, said: "In Western Europe, powder coatings have a higher application penetration rate, accounting for 18% of the entire industrial coatings market, which is higher than the US market application penetration rate, which is about 10%.
The reason for this situation is mainly due to stricter air pollution regulations and more widespread use of powder coatings in the construction market.
"In other parts of the world, the use of powder coatings in the industrial coatings market only accounts for 4%-5%, IHS Markit said.
Excluding the Chinese market, the world’s three largest international paint manufacturers account for about 30% of the powder coatings market share, and the top nine manufacturers account for about 50% of the entire market.
The largest manufacturer is Akzo Nobel, which accounts for 13% of the market.
Market share, Axalta accounted for 6%, and the two companies jointly own 40%-45% of the powder coatings market in Europe, and the remaining larger manufacturers jointly own about 7% of the European market share.
"The industry has also undergone some consolidation in recent years, mainly because of faster production growth outside of North America, Western Europe and Japan," Linak said.
The direct change after industry consolidation is the change in the market share of each company’s market.
For example, after Akzo Nobel acquired the former Rohm and Haas powder coating business of Dow Chemical in 2010, its market share increased from 15%-20% to 25%.
%-30%. Powder coatings are mainly used in five areas-usually metal surface treatment, household white furniture, construction, automotive and functional applications.
Among them, the largest application market is metal surface protection, such as furniture, commodity shelves and metal equipment, which accounted for about 36% of market demand, and construction uses accounted for 23% of consumption, followed by household appliances, such as washing machine roofs and drying drums, which accounted for 19%.
Functional applications include oil and gas pipelines and steel bars, which account for 9% of the consumption; automotive applications, wheels, engine blocks, and oil filters account for 7% of consumption.
Since the beginning of this year, one of the major problems facing the global powder coating industry is the increase in raw material costs.
Data shows that the overall cost of powder coating raw materials in 2017 has risen by 25%, of which the costs of titanium dioxide and epoxy resin have risen by 50% and 20% respectively.
.
According to IHS Markit data, because the main cost of the powder coating industry is raw materials, which account for 60%-65% of the total cost, the continued increase in costs will have a significant impact on profitability.
In addition, the global powder coatings industry will also face continuous integration of manufacturers and continuous rapid growth in demand, especially in emerging economies.
3 million tons, with a market value of approximately US$9.
5 billion.
Last year, China accounted for 45% of the global thermosetting powder coatings consumer market, or US$4.
28 billion; followed by Western Europe, accounting for 13% of global consumption; the rest of the Asia-Pacific region accounted for 12% of the global market; North America and Eastern Europe each accounted for 8%; South America And other regions accounted for 14%.
Powder coating is a new type of solvent-free 100% solid powder coating, mainly used for metal substrates.
Since organic solvents are not used in the coating process, powder coatings are not harmful to the environment, and have the characteristics of solvent-free, pollution-free, recyclable, environmentally friendly, energy and resource saving, labor intensity reduction, and high mechanical strength of the coating film.
But there is a disadvantage that they require heating to coalesce the powder into a film, which usually limits their use on substrates that are not sensitive to heat.
Thermosetting powder coatings are mainly based on epoxy resin and polyester powder.
Because polyester powder coatings have better weather resistance, polyester adhesives are usually used in decoration and construction applications, such as refrigerators, washing machines, vacuum cleaners, instrument housings, bicycles, furniture and other fields.
Epoxy resin has excellent adhesion to metals, corrosion resistance, hardness, flexibility and impact strength, so it is the first variety used in thermosetting powder coatings, such as coating pipes for concrete reinforcement and reinforcing steel bars.
According to IHS Markit, among the global thermosetting powder coatings in 2017, the consumption of polyester resin was approximately 780,000 tons, and the demand for epoxy resin was approximately 480,000 tons.
"Coating formulators have a certain degree of freedom to use one resin rather than another when designing a formulation, because they can incorporate more polyester than epoxy resin in mixed powder coatings," Coatings-Thermosetting "Powder" lead author Eric Linak said.
"In the past year, also because of the sharp increase in the price of epoxy resin, so the consumption of polyester may be faster than the growth rate of epoxy resin," Linak said.
In terms of thermosetting powder coating output, China's output in 2017 was also the world's largest, with an output of 1.
06 million tons, accounting for 46% of the world's total output.
Western Europe produced close to 300,000 tons, followed by Japan and the rest of the Asia-Pacific region, with production close to 290,000 tons.
It is estimated that between 2017 and 2022, the average growth rate of the global thermosetting powder coating market demand will reach 4.
6%/year, and China will continue to maintain the highest growth rate of 6.
5%/year, followed by Eastern Europe, which will maintain an average growth rate of 5%/year.
During the forecast period, the average annual growth rate of mature markets such as Western Europe and North America will be 1.
1%-1.
4%/year, and the average annual growth rate of Latin America and the Asia-Pacific region except China will be 2.
9%-3.
9%, according to the IHS Markit report.
Udo Buchholz, chief analyst at IHS Markit, said: "In Western Europe, powder coatings have a higher application penetration rate, accounting for 18% of the entire industrial coatings market, which is higher than the US market application penetration rate, which is about 10%.
The reason for this situation is mainly due to stricter air pollution regulations and more widespread use of powder coatings in the construction market.
"In other parts of the world, the use of powder coatings in the industrial coatings market only accounts for 4%-5%, IHS Markit said.
Excluding the Chinese market, the world’s three largest international paint manufacturers account for about 30% of the powder coatings market share, and the top nine manufacturers account for about 50% of the entire market.
The largest manufacturer is Akzo Nobel, which accounts for 13% of the market.
Market share, Axalta accounted for 6%, and the two companies jointly own 40%-45% of the powder coatings market in Europe, and the remaining larger manufacturers jointly own about 7% of the European market share.
"The industry has also undergone some consolidation in recent years, mainly because of faster production growth outside of North America, Western Europe and Japan," Linak said.
The direct change after industry consolidation is the change in the market share of each company’s market.
For example, after Akzo Nobel acquired the former Rohm and Haas powder coating business of Dow Chemical in 2010, its market share increased from 15%-20% to 25%.
%-30%. Powder coatings are mainly used in five areas-usually metal surface treatment, household white furniture, construction, automotive and functional applications.
Among them, the largest application market is metal surface protection, such as furniture, commodity shelves and metal equipment, which accounted for about 36% of market demand, and construction uses accounted for 23% of consumption, followed by household appliances, such as washing machine roofs and drying drums, which accounted for 19%.
Functional applications include oil and gas pipelines and steel bars, which account for 9% of the consumption; automotive applications, wheels, engine blocks, and oil filters account for 7% of consumption.
Since the beginning of this year, one of the major problems facing the global powder coating industry is the increase in raw material costs.
Data shows that the overall cost of powder coating raw materials in 2017 has risen by 25%, of which the costs of titanium dioxide and epoxy resin have risen by 50% and 20% respectively.
.
According to IHS Markit data, because the main cost of the powder coating industry is raw materials, which account for 60%-65% of the total cost, the continued increase in costs will have a significant impact on profitability.
In addition, the global powder coatings industry will also face continuous integration of manufacturers and continuous rapid growth in demand, especially in emerging economies.
