The global market for powder coating equipment is anticipated to expand at a CAGR of 5.2% between 2024 and 2032. The rising demand for energy-efficient devices as a result of the depletion of non-renewable resources, as well as the rising demand for powder coatings characterized by ease of use, increased flexibility, high quality, and storage performance, are significant factors driving the growth of market revenue. As domestic production and nearshoring develop in the United States, it is anticipated that demand for powder-coated weapons would increase. The U.S. government's emphasis on coatings that do not release volatile organic compounds is also expected to enhance demand for powder coating equipment. Additionally, rising private company investments in the paint and coatings sectors in this region are anticipated to stimulate market revenue growth.
The use of coatings that emit volatile organic compounds has declined, with aid from the United States and Europe (VOC). Environmental Protection Agency (EPA) and European Commission (EU) statutes and guidelines prohibit VOC emissions. China, for instance, introduced VOC emission standards in 2020, which increased demand for powder coatings and machinery. Powder painting auxiliary equipment innovations have significantly boosted operational efficiency and cut costs. In addition, the adaptation of functional powder coatings to harsher environments is anticipated to increase demand for powder coating equipment during the projection period. This is anticipated to enhance demand for powder coating equipment throughout the foreseeable future. In addition, the expansion of government programs that promote the use of energy-efficient appliances in industrial settings contributes to the expansion of the powder coating equipment market. In addition, manufacturers are investing heavily in the development of energy-efficient appliances to promote sustainability, hence accelerating the market's revenue expansion over the forecast period.
Utilized in the powder coating industry are multi-axis robots created specifically for powder coating applications. Costs are decreased as a result of consistent and efficient coating equipment due to greater efficiency, decreased labor costs, increased throughput, easier adjustment and storage, and improved working conditions. In addition, powder coating booths provide efficient and adaptable coating operations for both automatic and manual powder coatings. The compact and adjustable design permits minimal footprints and simple powder delivery configurations. In addition, fast powder-coating ovens and booths have plug-and-spray technology, which simplifies the installation of all electrical components. In addition, their modular configurations are adaptable and easy to operate, allowing for rapid color changes, and their base height is low to facilitate accessibility. It is anticipated that these factors will fuel market revenue growth.
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Powder coating booths and ovens are equipped with filters, collector/color modules, a canopy, and fan sections that are designed to allow for consistent and uniform airflow. Technology advancements and the advent of new technologies, such as Artificial Intelligence and the Internet of Things (IoT), have permitted the control of powder coating appliances and particular applications. Software is necessary to automate particular spraying methods and provide real-time data on the quality and finish of powder coatings. Integration of advanced software into control and switching devices is hence expensive. It is anticipated that these obstacles may hamper revenue development during the forecast period.
In 2023, the ovens & booths product segment dominated the market and represented 40% of the global revenue share. Due to the vast coating space provided by ovens and booths, the automotive industry is the most common use of these machines. In addition, the introduction of electric vehicles in the automotive industry is anticipated to have a positive effect on the market growth of powder coating equipment. Powder coat guns had 25% of the global revenue share in 2023. Due to a rise in orders from do-it-yourselfers, the powder coating sector for home remodeling and renovation has grown. People in the United States and other European nations are following the same DIY strategy, which will increase powder coat gun sales throughout the projection period.
Manufacturers of powder coating equipment are especially focused on producing auxiliary equipment that can boost productivity and energy efficiency. In their developed markets, the U.S., Germany, and Japan provide a variety of controllers, modules, pumps, and gauges. Thus, these factors are likely to promote market demand. Other powder coating equipment includes a variety of auxiliary components, such as controllers, gauges, pumps, filters, hoses, and tubes. As powder coating businesses seek to modernize their processes to boost productivity and efficiency, it is anticipated that demand for this equipment will skyrocket.
Since powder coatings are widely employed on exercise equipment and home appliances, the consumer application segment maintained the largest market share in 2023, accounting for more than 25% of the global revenue. Due to the superior finishing and increased flexibility of powder coatings, coatings manufacturers such as PPG, Jotun, and Akzo Nobel are concentrating on their powder coatings portfolio for consumer goods, hence increasing demand for powder coating equipment. The commercialization of sports like cricket, soccer, and golf, as well as upcoming competitions like the South-East Asian Games, Arafura Games, FIFA Club World Cup, ICC Cricket World Cup, and Olympic games, are anticipated to enhance demand for powder coatings. In order to boost coating output and allow expansion, businesses have started implementing intelligent control systems.
Due to the expansion of the Electric Vehicle (EV) industry and the growing usage of coatings in automobile reconditioning, powder coating equipment demand in automotive applications is predicted to increase at a CAGR of 5.5% over the next five years. In addition, powder coatings can provide thermal management, fire resistance, and low dielectric currents, all of which will help the industry's growth. Residential building industry growth is anticipated to increase demand for architectural powder coatings. Aluminum extrusions with powder coating are anticipated to be the key market driver due to the advantages of aluminum, the preferred sustainable material, and the advantages of powder coating, which include low VOC emissions and durability.
Based on substrate, the worldwide powder coating equipment market is divided into metallic and non-metallic segments. During the forecast period, it is predicted that the metallic segment would experience a rapid increase in revenue. Powder coating equipment provides enhanced durability, improved aesthetics, and little environmental impact. Powder coating has enabled metal fabricators to maximize production time while improving the functionality and appearance of their products. As a result, they are more durable and less susceptible to external circumstances than open sights, allowing for higher accuracy and a faster rate of response. Compared to painted or plated surfaces, powder coating makes items resistant to severe weather conditions, chemical reagents, and physical impacts, allowing for trouble-free daily use and long-lasting durability. Additionally, coating equipment improves the finish's smoothness and fineness, which is difficult to achieve with conventional coating equipment. In addition, powder coatings are faster and more cost-effective than any other coating technique due to the equipment used.
Asia-Pacific dominated the market and accounted for 48% of global revenue in 2023. This is due to the growing presence of major market players, such as Anest Iwata Corporation and Hangzhou Color Powder Coating Equipment Co., Ltd., in this industry. It is anticipated that nations such as China, Japan, India, and South Korea would continue to develop this coating equipment, contributing to the rise of the automobile sector. Changing lifestyles, more disposable incomes, and a growing population also contribute to the revenue growth of the market. In developing nations like China, Japan, and India, robust investment policies will generate new growth prospects for the construction industry.
Due to the expanding presence of key manufacturers like General Motors, Cadillac, and Ford Motors, it is anticipated that the North American market would have a very high rate of revenue growth throughout the forecast period. As domestic production and nearshoring develop in the United States, it is anticipated that the demand for powder coat guns in this industry will increase. The U.S. government's emphasis on coatings that do not release volatile organic compounds is also expected to enhance demand for powder coating equipment. Additionally, rising private company investments in the paint and coatings sectors in this region are anticipated to stimulate market revenue growth.
The European market is anticipated to expand at a CAGR of 4% during the forecast period. Rapid industrialization and urbanization in the region, as well as improvements in public transportation and rising consumer spending, are driving the market growth. Furthermore, the prominence of major automobile manufacturers such as Volkswagen, Mercedes-Benz AG, Audi, and BMW has increased demand for powder coating equipment. The market in Central and South America is anticipated to expand at a CAGR of 5.6% over the course of the forecast period. In order to meet the growing demand for powder coating equipment, the governments of numerous Central and South American nations are focusing on the construction of sustainable infrastructures related to railways, urban mass transits, energy, and oil & gas production, renewable energy generation, etc. In turn, this increases the demand for powder-coating equipment associated with building in the region. The need for powder coating equipment in the Middle East and Africa is driven by its rising acceptance in a variety of end-user industries, such as electrical appliances, automotive, architectural, healthcare, and consumer products. This should result in various prospects for growth.
The competitive landscape of the global powder coating equipment market is highly fragmented, with a large number of significant global and regional players. Most manufacturers use joint ventures, mergers & acquisitions, product launches, and regional expansions to improve market penetration and fulfill changing technical requirements. On January 27, 2023, Gema Switzerland GmbH introduced OptiFlex Pro manual units equipped with power boost technology to improve the performance of manual powder coating. At the push of a button, this feature provides 110 kV and 110 A of high-voltage electricity. Due to this substantial increase in force, even powders that are difficult to apply can be applied swiftly and safely. The OptiFlex Pro units are designed for superior industrial versatility and user-friendliness. Principal participants are engaged in product development and strategic partnerships in order to expand their respective product portfolios and establish a solid presence in the global market. Hangzhou Color Powder Coating Equipment Co., Ltd., Nordson Corporation, Gema Switzerland GmbH, Parker Ionics, Anest Iwata Corporation, Carlisle Companies, Inc., Oven Empire Manufacturing, Reliant Finishing Systems, Pittsburgh Spray, Plibrico Company, LLC, Plibrico Company, LLC. and other notable players.
