South America Powder Coatings Market Outlook, 2028

In recent years, the South American powder coating market has grown significantly. Factors contributing to this rise include increased industrialization, infrastructure development, and rising demand for powder coatings in a variety of end-use industries such as automotive, construction, appliances, and furniture. Powder coatings are known for their eco-friendliness and sustainability. They have low or zero volatile organic compound (VOC) content, which helps reduce air pollution and minimize health risks for workers. This aspect is particularly important in South America, where environmental regulations are becoming more stringent, and there is a growing emphasis on sustainable manufacturing practices. South America has diverse climate conditions, including high humidity, saltwater exposure in coastal areas, and extreme temperature variations. These environmental factors can accelerate corrosion and degradation of metal surfaces. Powder coatings are known for their excellent corrosion resistance, making them a preferred choice for industries in South America that require long-lasting protection against rust and degradation caused by climatic conditions. South America experiences significant exposure to UV radiation, especially in countries closer to the equator. UV rays can cause fading, discoloration, and degradation of coatings over time. Powder coatings are formulated to provide high UV resistance, maintaining their color stability and aesthetic appeal even under intense sunlight. This makes them suitable for outdoor applications, such as architectural coatings, automotive coatings, and outdoor furniture, which are exposed to direct sunlight. Ongoing technological advancements and innovation in powder coating technologies are driving market growth. Manufacturers are investing in research and development to introduce new formulations, improve application techniques, and enhance the performance characteristics of powder coatings. These advancements are expanding the range of applications and attracting more industries to adopt powder coatings. According to the research report, “South America Powder Coatings Market, Outlook, 2028", published by Bonafide Research, the market is expected add USD 204 Million from 2023 to 2028. Smart city development projects in South America is having a positive impact on the market for powder coatings Powder coatings can be used to protect and beautify the exteriors of buildings in smart cities. They are resistant to weathering, graffiti, and other damage, and they can be made in a variety of colors and finishes to match the architectural style of the building. The region is home to a number of major cities that are investing in smart city initiatives, such as Rio de Janeiro, Sao Paulo, and Buenos Aires. These cities are looking to improve the quality of life for their citizens by using technology to make their cities more efficient, sustainable, and liveable. Powder coatings are a key component of many smart city initiatives, and they are expected to continue to drive the market in the coming years. In addition to the growing demand for smart cities, the increasing focus on sustainability is also driving the market for powder coatings in South America. Powder coatings are a more sustainable alternative to traditional liquid coatings, as they require less energy to produce and emit fewer VOCs. As more and more businesses and governments in South America adopt sustainability initiatives, the demand for powder coatings is expected to grow. EVs are becoming increasingly popular in the region, as governments offer incentives to purchase them and consumers become more aware of the environmental benefits of EVs. As the number of EVs on the road increases, the demand for powder coatings is also expected to increase. Powder coatings are a popular choice for EV manufacturers because they offer a number of advantages over traditional liquid coatings. Powder coatings are more durable and resistant to scratches, dents, and fading. They are also more environmentally friendly than liquid coatings, as they do not contain volatile organic compounds (VOCs). Powder coatings are more durable than traditional liquid coatings. This makes them a good choice for use on EVs, which are exposed to the elements and can be subject to scratches and dents.

The governments of South America are providing various incentives to promote the growth of the powder coatings industry. These incentives include tax breaks, subsidies, and access to government-funded research and development programs. The governments are also working to create a favourable regulatory environment for the industry. The Brazilian government has set a target of increasing the domestic production of powder coatings to 50% by 2025. The government is providing various incentives to attract foreign investment in the industry, such as tax breaks, subsidies, and access to government-funded research and development programs. Brazil is leading the powder coatings market in South America. Brazil is the largest country in South America both in terms of land area and population. The large size and population provide a significant market potential for various industries, including coatings. The sheer scale of manufacturing activities and consumer demand in Brazil drives the need for powder coatings to meet the requirements of diverse sectors and a sizable customer base. The powder coating industry in Brazil has seen investments in research and development, technological advancements, and the introduction of innovative products. Local manufacturers, as well as multinational companies, have established production facilities and research centers in Brazil to cater to the growing market demand. These investments have led to the availability of a wide range of powder coating solutions, further driving the market growth in the country. Brazil has a robust manufacturing sector, including automotive, appliances, furniture, and general industries. These industries require high-quality coatings to protect and enhance the durability of their products. Powder coatings, with their superior performance and wide range of applications, have gained significant traction in these manufacturing sectors, driving the demand for powder coatings in Brazil. Based on resin type, the market includes thermoset and thermoplastic resin. The thermoplastic resin is expected to gain popularity in South America in the future time frame. Thermoplastic resin-based powder coatings have an advantage in this regard as they typically have lower or zero volatile organic compound (VOC) emissions compared to thermosetting resin-based coatings. This makes them a more environmentally friendly option, aligning with the sustainability goals of various industries and regulations. Thermoplastic powder coatings offer ease of application compared to thermosetting coatings. They can be melted and applied multiple times without degradation, allowing for more efficient coating processes. Additionally, thermoplastic coatings can be easily removed and recycled, reducing waste and improving the overall sustainability of coating operations. Thermoplastic powder coatings exhibit excellent toughness and durability. They have high impact resistance, scratch resistance, and flexibility, making them suitable for applications that require resistance to physical stresses. In industries such as automotive, appliances, and outdoor equipment, where resistance to wear, chipping, and impact is crucial, thermoplastic powder coatings offer superior performance. The coating methods of the market includes, electrostatic spray coating and fluidized bed coating. The electrostatic spray coating is widely used coating methods in South America. Electrostatic spray coating is a highly efficient and cost-effective method for applying powder coatings. The electrostatic charge applied to the powder particles allows for improved transfer efficiency, as the charged particles are attracted to the grounded substrate. This results in less overspray and waste, reducing material consumption and overall coating costs. Furthermore, electrostatic spray coating facilitates excellent adhesion of powder coatings to the substrate. The charged particles adhere to the grounded surface, creating a strong bond and ensuring long-lasting durability of the coating. This adhesion is particularly advantageous in industries where coatings are subjected to demanding conditions, such as automotive, appliances, and outdoor equipment. Recent Developments • AkzoNobel: AkzoNobel, a leading global paints and coatings company, has announced plans to invest $10 million in a new powder coating plant in Brazil. The plant, which is expected to be operational by the end of 2023, will produce powder coatings for a variety of industries, including automotive, construction, and furniture. • PPG Industries: PPG Industries, another leading global paints and coatings company, has announced plans to expand its powder coating production capacity in Argentina.

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Manmayi Raval

Research Consultant

Major companies present in the market: Akzo Nobel N.V, PPG Industries, Inc., The Sherwin-Williams Company, RPM International Inc, Jotun Group, Wacker Chemie AG, Arkema S.A., BASF SE, Axalta Coating Systems Ltd., Sika AG, Solvay NV/SA. Considered in this report • Geography: South America • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South America Powder Coatings market with its value and forecast along with its segments • Country-wise Powder Coatings market analysis • On-going trends and developments • Top profiled companies • Strategic recommendation

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Countries Covered in the report: • Brazil • Argentina • Colombia By Resin Type • Thermoset • Thermoplastic By Coating Methods • Electrostatic Spray Coating • Fluidized Bed Coating • Others By End-Use Industry • Appliances • Automotive • General Industrial • Architectural • Furniture • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Powder Coatings industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.