The general industrial coating and automotive coating dominated the powder coating industry. However, from 2014 to 2020, the powder coating demand in furniture is expected to blossom more than 7.6% to a $10-12 billion dollar industry globally. Powder coating needs are expected to grow despite the pandemic and its negative effects on many business verticals.
The Pandemic and Powder Coating
The powder coating business took a temporary hit in 2020, but by early 2021 the market was already recovering due to the demand for medical devices, cars, and other industries driven largely by economic growth in India, Brazil, and Mexico.
The Powder Coating Market in 2021 and 2022
Using the best powder coating options has become a need; the market has experienced a resurgence due to its applications in a post-COVID world. These can include the use of:
- Anti-bacterial powder coating additions to furniture, medical devices, walls, floors, and other items which are frequently touched.
- Color selections for furniture, cars, boats, and commercial building furnishings like bathroom doors, faucet handles, or door handles.
- Medical devices.
With supply chain issues, epoxies, polymers, paints, stains, and other types of coatings have also been difficult for some product manufacturers to use with any reliance. This leaves room for the best powder coating to take the forefront in industrial coatings.
A Burgeoning Powder Coating Market
To take advantage of ongoing supply chain issues and the possible resurgence of additional COVID strains, as well as medical device needs induced by COVID itself or the increased incidence of myocardia and other vaccine complications, the powder coatings industry has plenty of room to grow. The best powder coating companies will have to adapt in the coming years.
This market is also uniquely positioned to provide antibacterial and antiviral coatings along with other nano-technology for clear coats that can actually help prevent the spread of disease. Multinational powder coating companies are already pivoting their business models to include pre-treatments and anti-COVID treatments in their normal powder coating offerings. This should ensure a healthy recovery from any business lost during the last 18 months of stagnation due to COVID and the closure of businesses and manufacturing buildings as the world decided how to respond to the pandemic.
With technology rapidly evolving, there are also potential powder coatings that can be offered through developing nanotechnologies in the future. The best powder coating can be determined based on specific needs. To learn more about obtaining the best powder coatings for your products, contact Professional Finishing today.