The powder coatings are widely used in various industries for metal coating and other coating applications. These coatings find their application in different industries and have high demand due to their advantages over other types of coatings. There is high scope for the Powder Coatings Market in various regions across the globe during 2014-2022.
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Scope and Regional Forecast of the Powder Coatings Market:
The Powder Coatings Market is expected to generate revenue of $12,332 million by 2022. In this market, the CAGR is expected to grow at the rate of 5.4% during 2016-2022. The technological advancements in the coating industry and high applications of powder coatings are driving the demand during 2014-2022.
The thermoset resin type occupied the half of the global market share in terms of its volume in the Powder Coatings Market in 2015. Asia Pacific was the leading region with the largest market share of revenue compared to others in the same year.
China and India were the major markets for the growth of the Powder Coatings Market in Asia Pacific and are anticipated to have high demand for powder coatings in industries due to high industrial activities and huge sales scope during 2014-2022.
The Powder Coatings Market is a fast growing market with increasing demand for industrial powder coating products for powder coating process in industries such as automotive, manufacturing and others in various regions across the globe. This market is expected to witness high demand owing to the rise in investment for R&D of eco-friendly products by powder coating manufacturers, growth in production and supply of powder coating colors by powder coating suppliers and increasing demand for the powder coating rims, powder coating services and powder coating wheels in various regions across the globe during 2014-2022.
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Segmentation and Key Players of the Powder Coatings Market:
The Powder Coatings Market is segmented into various categories by resin type, by coating method, by application and by geography as follows:
By resin type: Thermoset, Epoxy, Polyester, Epoxy Polyester Hybrid, Acrylic, Thermoplastic, Polyvinyl Chloride (PVC), Nylon, Polyolefin and Polyvinylidene Fluoride (PVDF)
By coating method: Electrostatic Spray, Fluidized Bed
By application: Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, and Earthmoving Equipment (ACE), General Industrial and others (Gas Tanks, Pipelines)
By geography: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa)
The key players in the Powder Coatings Market are as follows:
- AkzoNobel N.V.
- PPG Industries
- Sherwin Williams
- BASF SE
- Axalta Coating Systems
The increasing use of powder paints anticipated to marginalize the powder coating cost for products and applications in industries in various regions across the globe during 2014-2022.
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