BANGALORE, India, June 10, 2020 /PRNewswire/ — Powder coating is a dry finishing process in which electrostatic spray deposition (ESD) is typically used to achieve the powder coating to a metal substrate. This application method uses a spray gun, which applies an electrostatic charge to the powder particles, which are then attracted to the grounded part.
Powder Coatings Market size is expected to reach USD 15 Billion by 2026, registering a CAGR of 5.4% during the forecast period 2019-2026.
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TRENDS INFLUENCING THE POWDER COATINGS MARKET SIZE
- Rising automotive production and increasing demand for medical devices are expected to be a major factor driving the growth of Powder Coatings Market size growth during the forecast period. In addition, the high adoption of powder coatings in the furniture sector will stimulate market expansion due to excellent performance, low operating costs, color availability, and custom properties such as anti-corrosion and antibacterial functions.
- Efficiency and overspray are the main factors that control the economics of the market. Factors such as increased consumer spending, increasing per capita income, changing customer preferences, and technological advancement is also fueling the growth of Powder Coatings Market size.
- The regional government’s socio-economic development along with housing subsidies, would have a positive effect on the architectural and decorative sector and indirectly help the growth of the Powder Coatings Market size.
- Excellent performance properties, along with product availability in a wide variety of colors and textures, will further spur the revenue from the powder coating market during the forecast period. Advantages such as high adoption rates due to ease of use, lower product costs, and environmental performance are further propelling the market growth.
- Growing awareness among consumers about eco-friendly lifestyle is expected to impact the growth of Powder Coatings Market size positively. Powder coatings market first flourished in North America, and the products have now become a convenient replacement for traditional industrial finishing methods.
- Because of its durability and high quality, most companies now opt for the powder coating instead of any other industrial finishing method. Powders used in the process are also available in inexhaustible color and texture dependent numbers. This widespread adoption from organizations is expected to increase the Powder Coatings Market size.
POWDER COATINGS MARKET SHARE ANALYSIS
- Powder coatings market first flourished in North America, and the products have now become a convenient replacement for traditional industrial finishing methods. Due to the widespread use of the Powder Coatings technique, North America is expected to hold the largest market share.
- The Asia Pacific is predicted to show the highest growth rate during the forecast period. The Asia Pacific and MEA region’s growing economies have seen strong growth in non-residential sectors, including consumer goods, IT, telecoms, and retail, resulting in high demand for powder coatings. Rising consumer goods businesses are expected to increase market growth in the near future in India, China, and Singapore. Furthermore, rising automotive production and rising demand for medical devices are expected to be a major factor in market growth in developing countries, including India and China, over the forecast period.
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- AkzoNobel N V
- PPG Industries
- BASF SE
- Axalta Coating Systems
- Kansai Nerolac Paints Limited
- IFS Coatings
- The Valspar Corporation
- Tiger coatings.
POWDER COATINGS MARKET SEGMENTS:
By Resin Type
- Epoxy Polyester Hybrid
- Polyvinyl Chloride (PVC)
- Polyvinylidene Fluoride (PVDF)
By Coating Method
- Electrostatic Spray
- Fluidized Bed
- Agriculture, Construction, & Earthmoving Equipment (ACE)
- General Industrial
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SIMILAR REPORTS :
- India Powder Coatings Market
The India powder coatings market size was USD 896.7 Million in 2017 and is projected to reach USD 1.508.2 Billion by 2025, at a 6.6% CAGR from 2018-2025.
The growth of India Powder Coatings Market size is attributed to factors such as supporting environmental regulations, increasing demand for appliances, booming construction industry, and rapid economic growth. Due to its superior finish and durability, increased adoption of powder coatings over liquid coatings leads to an increase in longevity of coated products.
- U.S. & Europe Powder Coatings Market
The U.S. & Europe powder coatings market size was valued at USD 2,965.7 million in 2018 and is projected to reach USD 4,292.5 million by 2026, growing at a CAGR of 4.71% from 2019 to 2026.
Rapid growth in the automotive sector across developing economies like the U.S. and Germany has increased demand for powder coatings. Powder coatings are used to cover the automotive’s exterior as they protect the automotive components and body from extreme weather, heat, and corrosion conditions. Furthermore, the increase in demand for powder coatings in-home appliance manufacturing due to their properties such as abrasion resistance, chemicals, and weather changes is expected to increase the U.S. & Europe Powder Coatings Market size.
- South East Asia (SEA) Powder and Liquid Coatings Market
South East Asia (SEA) powder coatings market size was valued at USD 222.7 million and is expected to reach USD 295.9 million, growing at a CAGR of 4.2% from 2016 to 2022.
Indonesia is witnessing the highest growth rate among all the SEA countries due to the increased consumption of powder and liquid coatings in various applications industries, including automotive, general industrial, and domestic appliances. In addition, customers prefer eco-friendly products that offer more functionality.
- Automotive Powder Coating Market
This report focuses on the volume and value of Automotive Powder Coating at global, regional, and enterprise levels. This report represents the overall size of the Automotive Powder Coating market from a global perspective by analyzing historical data and future prospects. This study focuses on the main regions: North America, Europe, China, and Japan.
- Low Temperature Powder Coatings Market
This report also analyses the impact of Coronavirus COVID-19 on the Low Temperature Powder Coatings industry.
This report focuses on the volume and value of Low Temperature Powder Coatings at global, regional, and enterprise levels. This report represents the overall size of the Low Temperature Powder Coatings market from a global perspective by analyzing historical data and future prospects. This study focuses on the main regions: North America, Europe, China, and Japan.
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