Powder Coating Equipment Market Is Expected to Grasp the Value of USD 1.58 Billion with Growing A CAGR of 3.1% by 2030
The global powder coating equipment market size was USD 1.20 Billion in 2021 and is expected to register a revenue CAGR of 3.1% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by growing use of powder coatings in diverse applications including automobiles, construction, home appliances, and furniture. Powder coating equipment assures highest quality of powder coatings to guarantee superior finishes and extended durability. The automotive industry uses powder coating ovens for treating mechanical components and partially-fabricated vehicles. This equipment enables manufacturers to increase service life of mechanical parts and maintain uniformity of exterior bodywork. In addition, growing number of companies are using these vehicles to replace conventional spray-painting methods on automobile exteriors, reducing surface irregularities caused by liquid paints flowing from panels.
Powder coating ovens and booths are widely used in architecture and construction owing to their various benefits. Powder coating ovens are also used to finish guardrails, buildings, idols, bridges, lighting poles, posts, monuments, signs, and fencing in highway projects. There is an increase in use of powder coating equipment in home appliances such as refrigerators, washer tops, range housings, vacuum cleaners, water heaters, and air conditioner cabinets for providing a protective coating that is durable, attractive, and durable. These factors are expected to drive market revenue growth.
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Some Key Highlights From the Report
- The ovens & booths segment is expected to register a rapid revenue growth rate during the forecast period. Ovens and booths have emerged as a viable alternative to traditional painting methods for producing metal components with outstanding surface characteristics and corrosion resistance. The oven typically takes a shorter time to cure than liquid paint and process also skips mandatory preparation stages, such as mixing and thinning. This results in significant cost savings in high-throughput manufacturing environments.
- The metallic segment is expected to register a rapid revenue growth rate during the forecast period. Use of powder coating equipment improves durability, appearance, and environmental impact of powder coatings. As a result of powder coating process, metal fabricators have maximized production time while increasing functional protective properties and improving decorative appearances. These equipment provide better accuracy and faster response times as they have high durability.
- The consumer goods segment is expected to register a steady revenue growth rate during the forecast period. Powder coating is frequently used in consumer products because it reduces raw material consumption. There is an expected increase in consumer demand for powder coating since powder coating is less expensive and takes up less space than liquid coating. Consumers use a range of products on a daily basis, for both health and enjoyment. In addition, powder coating equipment can be used to improve quality, durability, and appearance of these products.
- The Asia Pacific market is expected to account for largest revenue share in the global market during the forecast period. This is owing to increasing presence of major market players, such as ANEST IWATA Corporation and Hangzhou Color Powder Coating Equipment Co., Ltd., among others, in this region. The growing automobile industry in countries, such as China, Japan, India, and South Korea, has facilitated development of this coating equipment. In addition, rising disposable incomes, changing lifestyles, and increasing population are also driving revenue growth of the market.
- Companies profiled in the market report are Nordson Corporation, Gema Switzerland GmbH, Parker Ionics, Anest Iwata Corporation, Carlisle Companies, Inc., Oven Empire Manufacturing, Reliant Finishing Systems, Pittsburgh Spray, Plibrico Company, LLC., and Hangzhou Color Powder Coating Equipment Co., Ltd.
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