Powder Coating Equipment Market Size, Share & Trends Analysis Report By Product (Ovens & Booths, Powder Coat Guns), By Application (Automotive, Furniture), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global powder coating equipment market size was valued at USD 1.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.1% from 2021 to 2028. Growing preference for powder coatings over conventional coating types coupled with an increase in DIY (Do-It-Yourself) activities in architecture and furniture applications are expected to have a positive impact on market growth. The COVID-19 pandemic hindered the growth of the market owing to forced factory shutdowns, declining consumer spending, and disruption of the supply chain worldwide. The automotive industry was negatively impacted by the pandemic resulting in low orders for powder coating equipment in 2020.

End-use industries in Q3 2020 started picking up with demand for fitness equipment, consumer goods, and electronics creating a positive environment for the market. Moreover, the stay-at-home orders during the pandemic resulted in boosting the equipment demand in architecture and furniture applications across various countries in North America and Europe.

The emergence of technologies in powder coating equipment in auxiliary equipment has radically enhanced operating efficiency and improved cost savings. Moreover, the adaptability of functional powder coatings in harsher environments is expected to boost the demand for powder coating equipment over the forecast period.

The U.S. and Europe have been at the forefront to decrease the usage of coatings that emit Volatile Organic Compounds (VOC). The Environmental Protection Agency (EPA) and the European Commission (EU)  have set up regulations and directives to prevent VOC emissions. In December 2020, China has also laid down standards for VOC emissions, resulting in the increased usage of powder coatings resulting in increased demand for equipment.

Governments of various countries have laid out strategic plans and funding for infrastructure development to bolster the economic recovery post-pandemic. The manufacturers of powder coating equipment are expected to thrive on the demand for powder coatings used in infrastructures where durability and corrosion resistance is important.

Product Insights

The ovens and booths segment led the market and accounted for 38.4% of the global revenue share in 2020. Ovens and booths are majorly used in the automotive industry where the space required for coating is large which is aptly provided by ovens and booths. Moreover, the advent of electric vehicles in the automotive industry is expected to impact the powder coating equipment market growth positively.

The powder coat guns segment is estimated to witness a CAGR of 3.6% from 2021 to 2028. Stay-at-home orders have increased the DIY business in powder coating for home improvement and home renovation. People in the U.S. and other European countries are adopting a similar approach, resulting in the growth of the DIY business, thereby boosting powder coat gun sales over the forecast period.

The others product segment for powder coating equipment includes various auxiliary equipment such as controllers, gauges, pumps, filters, hoses, and tubing. The demand for this equipment is expected to witness significant growth as powder coating companies are looking for transforming their processes to increase efficiency and enhance productivity.

Powder coating equipment manufacturers are particularly trying to develop auxiliary equipment having the ability to enhance productivity and increase energy savings. Various kinds of controllers, modules, pumps, and gauges are being introduced in the mature markets of the U.S., Germany, and Japan.

Application Insights

The consumer products applications segment led the market and accounted for 23.6% of the global revenue share in 2020 owing to increased adoption of powder coatings in white goods and fitness equipment. Coatings manufacturers such as Akzo Nobel, Jotun, and PPG are particularly focusing on their powder coatings portfolio in consumer goods owing to superior finishing and higher flexibility leading to an increased demand for powder coating equipment.

Growth in the sports industry on account of the commercialization of games such as cricket, soccer, golf coupled with upcoming tournaments, including ICC Cricket World Cup, Arafura Games, FIFA Club World Cup, South-East Asian Games, and Olympic tournaments, is expected to spur the demand for powder coatings. Companies have started installing smart control systems to increase productivity in coating recreational equipment, thereby complementing growth.

The demand for powder coating equipment in automotive applications is expected to witness growth at a CAGR of 3.6% on account of the growing Electric Vehicle (EV) industry coupled with the increasing adoption of coatings in automotive refinishing. Batteries require thermal management with fire resistance and low dielectric currents which powder coatings can provide leading to equipment demand.

The growth of the residential construction industry is expected to drive the demand for powder coatings in architectural applications. Powder coating on aluminum extrusions is expected to be the key driver as powder coating benefits such as low VOC and durability align with the benefits of aluminum, which is also the preferred sustainable material.

Regional Insights

Asia Pacific led the powder coating equipment market and accounted for over 47.6% of the global revenue in 2020. Rapid industrialization and urbanization in the region, coupled with improving public infrastructure, growing consumer goods demand, such as China, India, and South Korea, are the factors expected to have a positive impact on the market growth over the forecast period.

Increasing domestic manufacturing and near-shoring of industries in the U.S. is expected to drive the demand for powder coat guns in the country. The rising focus of the U.S. government on coatings that do not emit VOC is anticipated to augment the demand for powder coating equipment in the country over the forecast period.

The rising production of electric vehicles in Europe coupled with the presence of major automotive OEMs such as Volkswagen, Stellantis NV, and BMW AG is expected to boost the demand for powder coatings and subsequently the powder coating equipment over the forecast period. Moreover, technological advances in product development to increase productivity and energy savings are expected to drive the market.

The demand for powder coating equipment is estimated to witness growth at a CAGR of 3.8% in India over the forecast period. Rising private equity investment in the paints and coatings industry in the country coupled with changing preferences from unorganized to organized markets in the coatings industry is expected to increase the powder coatings, thereby boosting the equipment demand.

Key Companies & Market Share Insights

Many powder coating manufacturers are involved in expanding their production facilities as well as product portfolios in order to meet the rising demand for powder coatings, thereby boosting the demand for powder coating equipment. Furthermore, new inventions in coating systems such as graphene nanotubes are likely to drive the market. Growing emphasis on collaborating with tech companies to improve process time and quality is also expected to drive the demand. Equipment companies have also started offering services to fully automate their powder coating systems in a bid to increase productivity and to help powder coating manufacturers accelerate their sustainability objectives. Some of the prominent players in the powder coating equipment market include:

• Nordson Corporation

• Gema Switzerland GmbH

• WAGNER

• ANEST IWATA Corporation

• Carlisle

• Hangzhou Color Powder Coating Equipment Co., Ltd.

• Mitsuba Systems Pvt. Ltd.

• Statfield Equipment Pvt. Ltd.

• SAMES KREMLIN

• Eastwood Company

• Parker Ionics

• Red Line Industries Ltd

• Reliant Finishing Systems

• Pittsburgh Spray Equipment Co.

• Oven Empire Manufacturing

Powder Coating Equipment Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global powder coating equipment market report on the basis of product, application, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2028)

  • Ovens & Booths

  • Powder coat guns

  • Others

• Application Outlook (Revenue, USD Million, 2017 - 2028)

  • Consumer goods

  • Architectural

  • Automotive

  • General Industries

  • Furniture

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • Italy

    • U.K.

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • UAE

    • South Africa