Powder Coatings Market Research Report
Growth opportunities in the powder
coatings market look promising over the next six years. This is mainly due
to the growing application of powder coatings in the automotive industry and
consumer goods owing to their high abrasion and anti-corrosive property and
favorable government initiatives, and strict regulations for VOC emissions.
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Powder
Coatings Market Dynamics (including market size, share, trends, forecast,
growth, forecast, and industry analysis)
Key
Drivers
The favorable initiatives taken by the government, along
with the prudent stringent norms against VOC emissions, have contributed to the
growth of the global powder
coatings market. The European Parliament and Council have restricted the
usage of organic solvents like paints and paint products owing to high VOC
emissions. Also, the augmenting use of these coatings in the consumer goods and
automotive industry due to the anti-corrosive and superior abrasion to protect
metallic and non-metallic substrates will strengthen the powder coatings market
size. The North American organization known as "Powder Coating
Institute" states that 15% of the industrial finishing paint market uses
powder in some form or the other, which shows the potential of powder coatings
market growth.
In 2019, PPG declared the initiation of PPG ENVIROCRON
Extreme Protection Edge coatings. The new product uses patent-pending, better
powder coatings technology, and exceptional protection from corrosion in one
coat. The inception of offerings is one of the evolving trends, thus fuelling
the growth of the market because of the innovative technology that offers
coverage and surpasses standard one and two-coat powder systems, and covers
sharp edges created at the time of metal fabrication. However, as per the
powder coatings market analysis, these coatings create a thick finish on metal
products, and it is difficult to produce thin finishes using these coatings,
which is likely to hamper the market growth.
Application
Segment Drivers
Based on the application, consumer goods are anticipated to
lead over the forecast period owing to the wide adoption across consumer goods
such as small appliances, water heaters, electric ranges, and gas. Also,
features like the absence of solvents, the exhibition of higher tangibility
than conventional liquid coatings, and the following environmental regulations
will further propel the market size. The growing demand for domestic appliances
in India, Vietnam, China, Thailand, and the Philippines will raise the powder
coatings market share.
Regional
Drivers
On the basis of regional coverage, Asia-pacific is predicted
to dominate the market over the forecast period. This is primarily attributed
to the rapid growth of Asian countries such as India, Japan, and China.
Moreover, the surging application in the automotive industry to apply the
coating on chassis components, engine blocks, electrical components,
springs/suspensions, etc. will drive the market growth.
Powder
Coatings Market’s leading Manufacturers:
·
Eisenmann
·
Bayer AG
·
Nippon Paint Holdings Co. Ltd.
·
Axalta Coating Systems
·
PPG Industries, Inc.
·
FERRO ARTE DE MEXICO.
·
DSM
·
Kansai Paint Co., Ltd.
·
Sherwin-Williams Company
·
Akzo Nobel N.V.
Powder Coatings Market Segmentation:
Segmentation by Type:
·
Polyester Based
·
Polyurethane Based
·
Epoxy Based
·
Hybrid Power Coatings
·
Others
Segmentation by Method:
·
Electrostatic Spray
·
Fluidized Bed
·
Others
Segmentation by Application:
·
Consumer Goods
·
Automotive
·
Building and Construction
·
Furniture
·
General Industries
·
Others
Segmentation by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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