Project report for Powder Coating

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The India powder coatings market is driven by increase in industrialization and rapid urbanization. Furthermore, the market is also driven by rise in demand from applications such as automotive, general industrial, furniture, and others. Growth in competition from substitutes is expected to hamper the growth of the India powder coating market. The India powder coatings market share in the Asia-Pacific market is experiencing considerable growth due to increase in infrastructural investment. The automotive and architectural industries are some of the major industries for the powder coatings market. Rise in requirement for outdoor furniture boosts the demand for thermoplastic powder coatings. These factors are anticipated to boost the growth of the market in India.

Powder coating is a type of coating that is applied as a free-flowing, dry powder. Unlike conventional liquid paint which is delivered via an evaporating solvent, powder coating is typically applied electrostatically and then cured under heat or with ultraviolet light. The powder may be a thermoplastic or a thermoset polymer. It is usually used to create a hard finish that is tougher than conventional paint. Powder coating is mainly used for coating of metals, such as household appliances, aluminium extrusions, drum hardware, automobiles, and bicycle frames. Powder coatings produce a thick finish on metal products. It is difficult to produce thin finishes using these coatings. The thickening of the polymer can lead to the formation of an uneven texture.

Market potential & Strategy

The market size for powder coatings is projected to grow from INR 8,70,61,48,00,000 in 2020 to INR 11,18,28,97,00,000 by 2025, at a CAGR of 5.2%. Strong growth can be witnessed in the powder coatings market in the APAC region, especially in China, India, and South-East Asian countries. The demand for powder coatings has been increasing due to rising disposable income, leading to increased demand for consumer products, automobiles, and furniture. Powder coatings have a wide range of applications in automotive, appliances, furniture, architectural, general industrial, and other industries. There is growth in the demand for powder coatings with new applications being developed. The furniture and appliances industries will continue to grow steadily in the future. IT and telecom are also new markets, where applications of powder coatings are extensively explored. Door handles, bumpers, window handles, and other parts of automobiles, including radiator coil spring, shock absorbers, and breaking parts, are also powder coated. The growth of these industries is driving the demand for powder coatings. A rise in the production of automobiles and the surge in demand for medical devices are expected to be major factors driving the market growth in developing nations including India, China, Brazil, and Mexico over the forecast period. Moreover, high product adoption in the furniture sector on account of its excellent performance, low operational costs, color availability, and custom properties, such as anti-corrosion and anti-bacterial functions, will stimulate market growth.

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