CHICAGO, Aug. 26, 2024 /PRNewswire/ -- The report "Powder Coating Equipment Market by Component Type (Kneader, Extruders, Cooling Equipment, Grinders), Resin Type (Polyester, Hybrid, Epoxy, Polyurethane, Acrylic), End-Use Industry & Region- Global Forecast to 2030", is estimated at USD 0.41 billion in 2024 and is projected to reach USD 0.54 billion by 2030, at a CAGR of 5.0% from 2024 to 2030. The growth of the Powder Coating Equipment Market is being driven by several factors, including increasing demand from appliances and automotive sector. Rapid urbanization and growing automotive sector will boost the market. High equipment and operational costs could hinder the market growth.
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Hybrid resin type segment accounted for largest market share of by resin type powder coating equipment market in 2023.
Hybrid resins combine the properties of both polyester and epoxy resins, offering a balance of durability, aesthetic appeal, and weather resistance. This versatility makes them suitable for a wide range of applications, from consumer products to industrial. Hybrid resins can also be formulated to meet stringent environmental regulations, making it a favorable choice for industries that adhere to specific environmental and safety standards. These factors might lead to a significant rise in demand for hybrid resin-based powder coating between 2024 to 2029.
Grinder segment accounted for largest market share of by component type powder coating equipment market in 2023.
Grinder segment accounted for the largest market share followed by extruders, in terms of value in the year 2023. Grinders are essential for reducing the size for powder coating particles to achieve the desired consistency. The machine can be used for grinding different powders and are adaptable to different particle sizes. This versatility allows manufacturers to tailor the powder to specific application, as per the customer's requirements. Twin Screw Extruders are capable of handling various resin systems and additives, making them suitable for wide range of applications.
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Appliance segment accounted for largest market share of by end-use industry, in 2023.
As the population is rising in different parts of the world, urbanization is also peaking. More and more people are buying and renting houses thus the use of consumer goods and household appliances is also rising. Many appliances are exposed to moisture and varying environmental conditions and are thus powder coated as powder coating offers excellent corrosion resistance, protecting appliances from degradation and rust over time. Powder coating not only protects appliances from corrosion but also gives aesthetic appeal by providing a smooth, uniform finish, and fade resistance.
The automotive industry is also rising as there are developments like hybrid vehicles and electric vehicles thus creating a demand for automotive parts. As the demand of automotive parts is rising it is creating market opportunities for powder coating because there is significant demand for powder coating for automotive parts for aesthetic appeal and durability. This will further propel the powder coating equipment market.
Asia Pacific region is expected to register the highest CAGR in terms of value during the forecasted period.
There is presence of developing countries like China and India in Asia Pacific wherein the middle class is expanding. The countries are experiencing rising income levels and infrastructure development which is leading to increased demand for various industrial applications, including powder-coated products for construction, automotive, and consumer goods. Global leaders of the powder coating equipment market like BUSS AG and Hillenbrand Inc. (Coperion GmbH) are expanding their production capacities and market presence in Asia Pacific. Additionally, China has the presence of many OEMs in the powder coating equipment market like Yantai Lingyu Powder Machinery Co., Ltd., Yantai Yuanli Machinery Manufacturing Co., Ltd., and Yantai Donghui Powder Processing Equipment Co., Ltd. These companies are also expanding their production capacities and investing in advanced technologies to meet the growing need from end use industries.
Key players
Prominent companies include Hillenbrand, Inc. (Coperion GmbH) (Germany), BUSS AG (Switzerland), Hosokawa Micron Group (Japan), Yantai Wutai Chemical Equipment Co., Ltd. (China), Xtrutech Ltd. (UK), Chongqing Degold Machine Co., Ltd. (China), Vortex Mixing Technology (China), Moriyama Corporation (Japan), BBA Innova AG (Switzerland), Yantai Donghui Powder Processing Equipment Co., Ltd. (China), CPM Extrusion Group (US), Polimer Teknik (Turkey), IPCO AB (Sweden), and Tiermax Inc. (Canada).among others.
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