Powder Coating Equipment Market

Updated on : October 25, 2024

Powder Coating Equipment Market

The global powder coating equipment market is valued at USD 0.41 billion in 2024 and is projected to reach USD 0.54 billion by 2030, growing at 5.0% cagr from 2024 to 2030. The growing urbanization, rising infrastructure development, and expanding automotive sector are increasing the demand for powder coating equipment and driving market growth.

Powder coating equipment refers to the machinery or system used to produce and apply powder coatings. Powder coatings are dry, powdered substances used to create a protective and decorative layer on metal and other substrates. According to the Indian Paint and Coating Association (IPCA), powder coating is applied as a free-flowing dry powder without the need for solvents to maintain the binder and filler components in a liquid suspension. The coating is usually applied electrostatically and cured under heat to flow and form a layer. The powder used in this process can be either a thermoplastic or thermoset polymer, resulting in a finish that is generally harder and more durable than conventional paint. Powder coating is mainly used on metal surfaces of household appliances, aluminum extrusions, drum hardware, and parts for automobiles and bicycles.

Attractive Opportunities for Players in Powder Coating Equipment Market

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Powder Coating Equipment Market Dynamics

Driver: Rising demand for automobile parts and components

China, India, and other Southeast Asian countries are witnessing steady population growth, leading to increased demand for public transport and private vehicles. Powder coating is ideal for coating metal components and parts used in these vehicles. The expansion of the electric vehicle (EV) and hybrid vehicle markets are significant drivers for the growth of the powder coating equipment market. Powder coatings offer a compelling solution to the unique challenges associated with electric vehicle manufacturing. Their durability and corrosion resistance make them well-suited for protecting critical components such as battery enclosures, chassis, and electronic systems from environmental hazards and wear and tear. In addition, their ability to withstand high temperatures is advantageous in EV applications, where heat dissipation and thermal management are essential for optimizing performance and extending battery life.

Restraint: Growing environmental concerns and high energy consumption

With growing environmental concerns, industries face stringent emissions and waste management regulations. Powder coating is generally more environmentally friendly than traditional liquid painting, producing minimal volatile organic compounds (VOCs) and waste. However, the equipment used in powder coating must comply with stringent environmental standards. Suppose powder coating equipment providers fail to comply with environmental regulations. In that case, they may be penalized or forced to invest in compliance measures, affecting their market viability and increasing operational costs. Besides, the powder coating material production process consumes high power and energy as many processes are involved. All these factors are expected to hamper the demand for powder coating equipment and restrain the market growth during the forecast period.

Opportunity: Rising use of powder coatings on wood and plastics

Powder coating, traditionally applied to metals, is increasingly used to coat non-metal substrates such as wood and plastics. Its widening application scope creates growth opportunities for powder coating equipment providers, as specialized machinery is required to coat non-metal substrates. The development of low-bake powder coatings has made it feasible to coat heat-sensitive substrates such as medium-density fiberboard (MDF) and plastics, which were previously difficult to powder coat due to their thermal limitations.

Powder coatings are also preferred for their environmental advantages over liquid paints. As industries move toward more sustainable practices, the demand for eco-friendly materials is expected to increase. This trend benefits the environment and aligns with regulatory trends that favor low-emission products, driving the adoption of powder coatings in various industries, including furniture and architecture.

Challenge: High maintenance and operational costs

Powder coating equipment require significant maintenance and operational costs, which can be a challenge for adoption in some industries. The curing process of powder coatings requires high-temperature ovens, often gas-fired, and maintaining oven seals, burners, and temperature controls is critical. Downtime for oven repairs or cleaning can significantly impact production, and upgrades to improve energy efficiency can be costly.

Additionally, equipment such as twin-screw extruders and kneaders, which include expensive parts such as gearboxes and torque screws, require proper maintenance. These costs must be covered by powder coating equipment manufacturers when maintenance is needed, which can be challenging for small and medium-sized enterprises.

Powder Coating Equipment Market Ecosystem

Based on end-use industry, appliance segment to register for highest CAGR in powder coating equipment market during forecast period

Powder coating is an eco-friendly alternative to traditional liquid coatings, generating less VOCs and lowering environmental impact. This aligns with the growing consumer and regulatory focus on sustainability. Powder coatings also offer various colors and finishes, allowing manufacturers to cater to changing consumer preferences and design trends in home appliances. The increasing demand for durable and aesthetically appealing home appliances and consumer goods, along with rising consumer expectations for quality and sustainability, is driving the adoption of powder coatings and powder coating equipment. As the appliance industry continues to expand and evolve, manufacturers are increasingly adopting powder coatings to meet these demands.

Based on resin type, polyester segment to register highest CAGR in powder coating equipment market during forecast period

Polyester resin offers exceptional durability, including resistance to UV rays, chemical exposure, and weathering, making it ideal for outdoor applications such as architectural coatings, outdoor furniture, and automobile finishes. Polyester-based powder coatings are also more environmentally friendly than traditional liquid coatings, containing less to no VOCs. This characteristic aligns with growing regulatory guidelines and consumer preferences for sustainable and eco-friendly products.

Based on component, extruder segment to register highest CAGR in powder coating equipment market during forecast period

The extruder, particularly the twin-screw extruder, is an essential machine in the powder coating production line, as it ensures the production of highly consistent and efficient powder coatings. The co-rotating twin-screw extruder is known for its excellent distributive and dispersive mixing properties, which are crucial for achieving uniform distribution of pigments and additives throughout the resin. As manufacturers expand their production capabilities to meet the growing demand for powder coatings, the need for advanced extruder machines is expected to rise significantly, driving the segment’s growth.

Asia Pacific to hold largest market share during forecast period

Asia Pacific is expected to be the major market for powder coating equipment, followed by North America and Europe. The rapid urbanization and industrialization, along with significant investments in the building & construction industry, are the primary drivers for the regional market growth. The region is also experiencing high demand for consumer goods and household appliances, which is driving the powder coating market and, in turn, boosting the demand for powder coating equipment.

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Powder Coating Equipment Market Players

Key players in this market include Hillenbrand, Inc. (Coperion GmbH), BUSS AG, Hosokawa Micron Corporation, Moriyama Corporation, CPM Extrusion Group, BBA Innova AG,  IPCO AB, Chongqing DEGOLD Machine Co., Ltd., and Xtrutech Ltd. These companies are strengthening their market position by adopting various inorganic and organic strategies. This study includes a thorough competitive analysis of these key market participants, providing insights into company profiles, recent developments, and key market strategies.

Powder Coating Equipment Market Report Scope

The study categorizes the powder coating equipment market based on Resin Type, Component, End-use industry, and Region.

Powder Coating Equipment Market by Resin Type:

• Polyester
• Hybrid
• Epoxy
• Polyurethane
• Acrylic
• Others (Polyamide, Polyethylene, and PVC)

Powder Coating Equipment Market by Component:

• Kneader
• Extruder
• Cooling Equipment
• Grinder
• Other Components (Feeder, Sieving System, Filter & Blending)

Powder Coating Equipment Market by End-use industry:

• Appliances
• Automotive
• General Industrial
• Architectural
• Furniture
• Other end-use industries

Powder Coating Equipment Market by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa

Recent Developments

• In January 2018, Hillenbrand Inc. (Coperion GmbH) announced the launch of the ZSK 43 MV PLUS twin screw extruder with enhanced properties and production quality.
• In May 2023, Hillenbrand Inc. (Coperion GmbH) acquired Schenck Process FPM. This move is expected to help the company integrate various technologies into its equipment and expand its product portfolio in the powder coating equipment market.
• In March 2022, Hosokawa Alpine AG launched the new ACM 5 NEX, a classifier mill of the ACM series, which is a reliable system for ultra-fine grinding with integrated classifying of powder coatings.
• In June 2024, Xtrutech Ltd launched XTDC2, a drum cooler with interchangeable configurations. The XTDC2 can be paired with Xtrutech’s XTS24 twin screw extruder to create a seamlessly integrated extruder line.

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