The global market for powder coating equipment is expected to grow at a CAGR of 5.2% during the forecast period of 2024 to 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 important factors driving market revenue growth. As domestic production and nearshoring increase in the U.S., demand for powder-coated firearms is expected to rise. In addition, demand for powder coating equipment is anticipated to increase due to the U.S. government's emphasis on coatings that do not emit volatile organic compounds. In addition, increased private company investments in the paint and coatings industries in this area are predicted to drive market revenue expansion.
With assistance from the United States and Europe, the usage of coatings that emit volatile organic compounds has decreased (VOC). Environmental Protection Agency (EPA) and European Commission (EU) have set laws and directives to stop VOC emissions. China, for example, adopted VOC emission standards in December 2020, which increased the demand for powder coatings and machines. Innovations in powder coating auxiliary equipment have considerably increased operational efficiency and decreased expenses. In addition, it is estimated that demand for powder coating equipment would expand during the forecast period due to the adaptability of functional powder coatings in harsher environments. This is expected to increase demand for powder coating equipment during the forecast period. In addition, the expansion of government initiatives that encourage the use of energy-efficient appliances in industrial settings contributes to the growth of the powder coating equipment market. In addition, manufacturers are making substantial expenditures in the development of energy-efficient appliances to promote sustainability, which is increasing market revenue growth over the forecast period.
Increasing Demand for Enhanced Adaptability, Usability, And Storage Performance, As Well As Superior Powder Coatings
In the powder coating sector, multi-axis robots designed specifically for powder coating applications are utilized. As a result of consistent and efficient coating equipment, costs are decreased as a result of higher efficiency, decreased labor costs, increased throughput, easier adjustment, and storage, and enhanced working conditions. Moreover, powder coating booths enable efficient and versatile coating operations for both automatic and manual powder coatings. The compact and adaptable design allows for minimal footprints and straightforward powder delivery setups. In addition, express powder coating ovens and booths are equipped with plug-and-spray technology, which makes the installation of all electrical components simple. In addition, their modular setups are flexible and simple to operate, allowing for rapid color changes, and their base height is low for easy access. These factors are projected to fuel market revenue growth.
High Initial Investments to Constrain the Market Entry of Potential Entrants
Powder coating booths and ovens feature filters, collector/color modules, canopy, and fan sections designed to permit steady and uniform airflow. Advancements in technology and the introduction of new technologies, such as Artificial Intelligence and the Internet of Things (IoT), have enabled control of powder coating appliances and specific applications. Increasingly, it is required to automate specific spraying procedures and offer real-time data on the quality and finish of powder coatings utilizing the software. Therefore, the integration of sophisticated software into equipment for control and switching is expensive. These challenges are projected to impede revenue growth during the predicted period.
Ovens and Booths Dominated the Market by Products
Ovens & booths product segment led the market and accounted for 40% of the worldwide revenue share in 2023. Ovens and booths are mostly utilized in the automotive industry because of the huge coating space they provide. Moreover, the introduction of electric vehicles in the automotive industry is predicted to have a beneficial impact on the growth of the powder coating equipment market. In 2023, powder coat guns accounted for 25% of the global revenue share. Due to an increase in orders from do-it-yourselfers, the powder coating industry for house renovation and improvement has expanded. The DIY business is developing as a result of people in the U.S. and other European countries adopting the same approach, which will enhance powder coat gun sales throughout the forecast period.
Manufacturers of powder coating equipment are particularly focused on developing auxiliary equipment that can increase productivity and improve energy savings. The U.S., Germany, and Japan are offering various types of controllers, modules, pumps, and gauges in their developed markets. Consequently, these variables are likely to stimulate market demand.
Other powder coating equipment consists of a wide range of auxiliary components, including controllers, gauges, pumps, filters, hoses, and tubing. As powder coating enterprises aim to update their processes to increase productivity and efficiency, it is projected that the demand for this equipment will increase dramatically.
Consumer Applications Dominate the Market by Applications
Since powder coatings are increasingly used on exercise equipment and home appliances, the consumer application category retains the biggest market share and accounted for more than 25% of the worldwide revenue in 2023. Due to the superior finishing and increased flexibility of powder coatings, coatings makers like PPG, Jotun, and Akzo Nobel, are focussing specifically on their powder coatings portfolio for consumer goods, which is driving up demand for powder coating equipment. The commercialization of sports such as cricket, soccer, and golf, as well as upcoming tournaments such as the South-East Asian Games, Arafura Games, FIFA Club World Cup, ICC Cricket World Cup, and Olympic games, are projected to increase demand for powder coatings. Businesses have been integrating intelligent control systems in order to increase coating output and facilitate expansion.
Powder coating equipment demand in automotive applications is projected to increase at a CAGR of 5.5% due to the expansion of the Electric Vehicle (EV) industry and the increasing use of coatings in automobile reconditioning. In addition, powder coatings can provide the thermal management, fire resistance, and low dielectric currents that batteries require, all of which will contribute to the growth of the industry. The rise of the residential construction industry is predicted to enhance the need for architectural powder coatings. Aluminum extrusions with powder coating are predicted to be the primary market driver due to the benefits of aluminum, which is the preferred sustainable material, and the benefits of powder coating, including low VOC emissions and durability.
Metallic Segment to be the Fastest Growing Market
The global powder coating equipment market is segmented based on the substrate into metallic and non-metallic. During the projection period, the metallic segment is anticipated to record a high rate of revenue growth. Equipment for powder coating offers increased durability, superior aesthetics, and minimal environmental effect. Powder coating has enabled metal fabricators to maximize production time while simultaneously enhancing product functionality and aesthetics. As a result, they are more robust and less vulnerable to external conditions than open sights, allowing for greater accuracy and a quicker response time. Compared to painted or plated surfaces, powder coating renders products resistant to severe weather conditions, chemical reagents, and physical collisions, allowing for trouble-free everyday usage and long-term durability. Additionally, coating equipment enhances the smoothness and fineness of finishes, which is difficult to do with conventional coating equipment. In addition, equipment makes powder coatings faster and more cost-effective than any other coating procedure.
APAC Remains as the Global Leader
In 2023, Asia-Pacific led the market and accounted for 48% of global revenue. This is a result of the increasing presence of significant market players, such as Anest Iwata Corporation and Hangzhou Color Powder Coating Equipment Co., Ltd., in this sector. In countries such as China, Japan, India, and South Korea, the development of this coating equipment is predicted to continue, thereby contributing to the expansion of the automotive industry. Changing lifestyles, higher disposable incomes, and a growing population also contribute to the market's revenue growth. In growing nations such as China, Japan, and India, robust investment policies will create fresh growth opportunities for the building sector.
Due to the increasing presence of major manufacturers such as General Motors, Cadillac, and Ford Motors, the North American market is projected to experience a very high rate of revenue growth throughout the projection period. As domestic production and nearshoring develop in the U.S., the need for powder coat guns in this industry is expected to rise. In addition, demand for powder coating equipment is anticipated to increase due to the U.S. government's emphasis on coatings that do not emit volatile organic compounds. In addition, increased private company investments in the paint and coatings industries in this area are predicted to drive market revenue expansion.
The European market is projected to increase at a CAGR of 4% over the course of the forecast. The region's rapid industrialization and urbanization, as well as improvements to public transit and increased consumer spending, are driving market expansion. In addition, the prevalence of major automakers like Volkswagen, Mercedes-Benz AG, Audi, and BMW has raised the demand for powder coating equipment. The Central & South America market is projected to grow at a CAGR of 5.6% over the course of the forecast. The governments of various 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 order to meet the growing population's demand for powder coating equipment. In turn, this boosts the need for construction-related powder-coating equipment in the region. The need for powder coating equipment in the Middle East and Africa is driven by its increasing adoption across a wide range of end-user sectors, including electrical appliances, automotive, architectural, healthcare, and consumer items. This should result in multiple growth opportunities.
Market Competition to Intensify During the Forecast Period
The competitive landscape of the global powder coating equipment market is quite fragmented, with a large number of important competitors operating at both the global and regional levels. Most manufacturers employ joint ventures, mergers & acquisitions, product launches, and regional expansions to increase market penetration and meet evolving technical demands. On January 27, 2023, Gema Switzerland GmbH announced OptiFlex Pro manual units with power boost technology to enhance manual powder coating performance. This power boost feature gives 110 kV and 110 A of high-voltage electricity at the touch of a button. Due to this significant increase in power, even difficult-to-apply powders may be applied quickly and safely. The OptiFlex Pro units are designed for excellent industrial adaptability and comfortable operation. Principal participants are engaged in product development and strategic collaborations to extend their respective product portfolios and achieve a solid foothold in the global market. Nordson Corporation, Gema Switzerland GmbH, Parker Ionics, Anest Iwata Corporation, Carlisle Companies, Inc., Oven Empire Manufacturing, Reliant Finishing Systems, Pittsburgh Spray, Plibrico Company, LLC, and Hangzhou Color Powder Coating Equipment Co., Ltd. and other notable players.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Powder Coating Equipment market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
