The global Powder Coatings Market was valued at USD 12.18 billion in 2021 and is projected to grow at a CAGR of 5.0% during the forecast period, driven by the increased use of powder coatings in medical equipment and automotive components. Powder coatings have antibacterial properties, making them suitable for maintaining sterile environments in the medical industry. They are also preferred for home appliances, as they offer high corrosion resistance and product durability with a single coat application. Furthermore, stringent regulations on VOC emissions have increased demand for powder coatings. While powder coatings are cost-effective in the long run, the high initial cost of installation and equipment can be a barrier to entry. The thermoset segment is expected to register the largest revenue share over the forecast period, with polyester-based powder coatings being used in various applications, including radiator grills, door handles, wheel rims, and bicycles. Epoxy-polyester hybrid resin is mainly used in interior applications, while epoxy powder coatings are preferred when a tough, long-lasting film is required.
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Top Leading Players In The Global Powder Coatings Market Are: PPG Industries, Inc., The Sherwin-Williams Company, Akzo Nobel N.V., Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited, IFS Coatings, The Valspar Corporation, TIGER Coatings, Kansai Paint Co., Ltd., and BASF SE.
Powder Coatings Market Upcoming Growth:
The powder coatings market is expected to experience significant growth in the upcoming years, driven by several factors such as:
- Growing demand from various end-use industries such as automotive, construction, and furniture, among others.
- Increasing preference for powder coatings over traditional liquid coatings due to their superior performance, durability, and eco-friendliness.
- Advancements in technology leading to the development of new and innovative powder coatings with enhanced properties.
- Rapid industrialization and urbanization in emerging economies, leading to increased demand for powder coatings in various applications.
- Favorable government regulations promoting the use of powder coatings due to their low VOC emissions and environmentally friendly nature.
Segments covered in the report:
Resin Type Outlook (Revenue, USD Billion; 2019-2030)
- Thermoset
- Polyester
- Epoxy Polyester Hybrid
- Epoxy
- Acrylic
- Polyurethane
- Others
- Thermoplastic
- Nylon
- Polyolefin
- Polyvinyl Chloride (PVC)
- Polyvinyl Fluoride (PVF)
- Polyvinylidene Fluoride (PVDF)
Coating Type Outlook (Revenue, USD Billion; 2019-2030)
- Electrostatic Spray Coating
- Fluidized Bed Coating
- Electrostatic Fluidized Bed Process
- Flame Spraying
Substrate Outlook (Revenue, USD Billion; 2019-2030)
- Metallic
- Non-Metallic
Application Outlook (Revenue, USD Billion; 2019-2030)
- Consumer Goods
- Appliances
- Architectural
- Automotive
- General Industries
- Furniture
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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