Global Powder Coating Market is growing rapidly. Market growth attributes to the rising demand and consumption across the end-user applications. Besides, excellent properties of Powder Coatings such as high durability, and resistance to impact, UV rays, moisture, and chemicals, increase the consumption of these materials. Moreover, the spurting rise in automotive, architectural, furniture, appliances, and consumer goods sectors create substantial market demand.
According to Market Research Future (MRFR), the Global Powder Coating Market is expected to reach a valuation of USD 16 BN by 2025, growing at 6.5% CAGR during the forecast period (2017 – 2025). Additionally, rapid industrialization and urbanization worldwide increase the size of the market. Also, Rapid economic growth worldwide creates a massive demand, driving the automotive and electronics industry.
Increasing consumption of Powder Coatings in electronics & electrical parts manufacturing sectors, fuels the market growth. A major shift towards powder coating is replacing conventional solvent-based coatings in various end-use industries, fostering the market growth. Additionally, increasing demand for solvent-free coatings and continuous growth of the automotive sector boosts the growth of the market.
On the other hand, the high energy consumption required in the Powder Coating processes is a key factor estimated to impede market growth. Nevertheless, rising efforts to mitigate the adverse effects of volatile organic compounds (VOC) would support market growth throughout the assessment period. Also, stringent government regulations are estimated to push the growth of the Powder Coating Market over the next few years.
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Global Powder Coating Market – Segments
The report is segmented into four key dynamics.
By Resin: Thermoplastic and Thermoset.
By Coating Methods: Electrostatic Spray Coating, Fluidized Bed Coating, Electrostatic Fluidized Bed Process, Flame Spraying, and others.
By Application: Automotive & Transportation, Architecture & Furniture, Appliances, Consumer Goods, Construction Equipment, and others.
By Regions: Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Powder Coating Market – Competitive Analysis
Highly Competitive, the Powder Coating Market appears fragmented due to the presence of several well-established industry players. To gain a larger competitive share, players incorporate strategic initiatives such as collaboration, acquisition, partnership, expansion, and technology launch. These strategies improve the quality of the product and increase the production capacity to satisfy the rapidly growing demand.
Players make extensive R&D investments in developing material’s technology and in advancing application and cure systems. Such advances yield robust solutions to past challenges associated with heat-sensitive substrates. Manufacturers strive to improve powder coating with an accessible finishing proposition beyond metal.
Players Active in the Global Powder Coating Market include The Sherwin-Williams Company (US), PPG Industries, Inc. (US), Valspar Industrial (US), Asian Paints Limited (India), Akzo Nobel NV (Netherlands), Koninklijke DSM NV (Netherlands), DuPont (US), Arkema SA (France), Evonik Industries AG (Germany), Kansai Paint Co., Ltd (Japan), TCI Powder (US), and Axalta Coating Systems (US), among others.
July 22, 2020 —- IFS Coatings, Inc., an American powder coating company launched PureClad, a line of low cure powder coatings for non-metal substrates. Fast, low cure, smooth, durable, and sustainable, PureClad powders is a new technology that cures in only three minutes, delivering exceptional flow, flexibility, and performance properties. PureClad delivers a stronger, safer, better finish for alternate substrates like wood, MDF, and fiberglass.
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June 30, 2020 —- Akzo Nobel N.V. (the Netherland), a leading global paints & performance coatings manufacturer, launched new 3D imaging technology designed for choosing the right powder coating under its brand Interpon. AkzoNobel manufactures high-quality powder coatings under the brand name of Interpon. The new 3D color tool is designed to help architects and specifiers find precisely the right product for their needs. Its development relied on extensive in-house digital color expertise, which made it possible to solve a series of technical challenges.
Global Powder Coating Market – Geographical Analysis
The Asia Pacific region dominates the Global Powder Coating Market. With its raw material advantage and cost-competitive workforce, the region attracts many foreign investors. This, as a result, drives the market growth increasing production plants across the region. Also, the implementation of stringent regulation against VOC emission plays a causal role in the development of the regional market
Besides, the presence of several key manufacturers and rapid industrialization in the region substantiate the growth of the market. Moreover, factors such as the rapidly increasing economy and continuous growth of the automotive & transportation industry foster regional market growth. Countries like Japan, China, Vietnam, Thailand, Singapore, South Korea, and India hold considerable shares in the regional market.
North America stands second in the Global Powder Coating Market. The market growth is driven by the rising demand for household appliances and increasing automotive production and sales in the region. The region demonstrates significant opportunities for Powder Coating manufacturers. Additionally, the high consumption of powder coatings in the manufacturing of automobiles substantiates the regional market growth.
The European Powder Coating Market is growing rapidly. Factors such as the increasing demand and sales in the automotive industry, especially in the U.K., France, Italy, and Germany, boost the regional market growth. Besides, the presence of notable players such as AkzoNobel, Koninklijke DSM, Arkema, and Evonik positively impact regional market growth.
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