The India powder coatings market accounted for revenue of $896.7 million in 2017 and is anticipated to generate revenue of $1,508.2 million by 2025. This market is projected to grow at a CAGR of 6.6% from 2018 to 2025.
Powder coating is a dry finishing process in which fine particles of paint are electrostatically charged and sprayed onto a workpiece. Powder coatings possess various properties such as significant durability along with resistance to abrasion, corrosion, scratching, and chemicals. They meet various requirements of end-user industries such as unlimited color selection, high & low gloss, metallic & clear finishes, and texture choices such as rough textures, smooth surfaces, wrinkled, and matte finishes to hide surface imperfections. Powder coatings not only maximize production, but they also improve coating efficiency and cut coating costs, as over-sprayed powder coating can be retrieved and re-used as compared to liquid coatings.
The growth of the India powder coatings market is attributed to the factors such as support of environmental regulations, increase in demand for appliances, booming construction industry, and rapid economic growth. Increase in adoption of powder coatings over liquid coatings due to its superior finish and durability, leads to increased life of coated products. However, powder coatings are not compatible in thin layer coatings applications, which is one of the major restraints to the market.
The India powder coatings market is segmented based on resin type, coating method, application, and region. Depending on type, the market is bifurcated into thermoset and thermoplastic. Thermoset is further classified into epoxy, polyester, epoxy polyester hybrid, and acrylic. Thermoplastic is further divided into polyvinyl chloride (PVC), nylon, polyolefin, and polyvinylidene fluoride (PVDF). Based on coating method, it is classified into electrostatic spray, and fluidized bed. Based on application, the market is categorized into appliances, automotive, architectural, furniture, agriculture construction, and earthmoving equipment (ACE). Based on region, the market is analyzed across East India, West India, North India, and South India.
Some of the major players analyzed in this report are Akzo Nobel India Ltd., Jotun India Private Limited, Marpol Private Limited, Rapid Engineering Co. Pvt. Ltd., Berger Paints India Limited, and PPG Asian Paints Private Limited., Maharani Paints Pvt. Ltd., Durolac Paints, Inc., Titan Paints & Chemicals Ltd., and Tulip Paints.
KEY BENEFITS FOR STAKEHOLDERS
- Porter’s five forces analysis helps analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
- This report outlines the current trends and future scenario of the India powder coatings market from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
- The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
- The profiles of the key players along with their key strategic developments are enlisted in the report.
By Resin Type
KEY MARKET SEGMENTS
- Electrostatic Spray
- Fluidized Bed
- Construction and Earthmoving Equipment (ACE)
- General Industrial
- North India
- South India
- East India
- West India