ROCKVILLE, Md., March 22, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Powder Coatings market is projected to grow at a compound annual rate (CAGR) of 6% between 2021 and 2031. The market is expected to reach US$ 15 Bn by the end of 2031.
The demand for Powder Coatings is expected to rise over the forecast period and the market is projected to gain a global market size worth of US$ 12 Bn by 2020.
The application of powder coatings is done on metallic surfaces to provide high-quality finishing. Powder coatings have gained traction and become one of the most general techniques to finish automotive and other parts on account of their long-lasting, durable finish and smooth texture that is resilient to corrosion.
For Critical Insights on This Market, Request a Sample Report
https://www.factmr.com/connectus/sample?flag=S&rep_id=4540
Major driver in the growth of powder coating materials was the quest for ecologically friendly substitutes to solvent-laden paints.
Features such as high resistance to abrasion, chipping, corrosion, and wear & tear due to excessive functioning are an added bonus for sustainable market growth. Market players are gaining a competitive edge through product innovation and integration of latest technologically advanced manufacturing processes.
Will Growth of Various End-use Industries Drive Demand for Powder Coatings?
Powder coatings have a wide range of applications in automotive, appliances, furniture, architectural, general industrial, and other industries. As such, there is growth in the demand for powder coatings with new applications being developed.
Use of powder coatings for furniture manufacturing will continue to grow steadily over the coming years. IT and telecom are also new markets where applications of powder coatings are being extensively explored.
Use of powder coatings for automotive application is also a new rising trend in the market. Door handles, bumpers, window handles, and other parts of automobiles, including radiator coil springs, shock absorbers, and breaking parts, are also powder coated.
To learn more about Powder Coatings Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=4540
Key Segments Covered in the Powder Coatings Industry Survey
By Resin
- Epoxy Powder Coatings
- Polyester Powder Coatings
- Epoxy-Polyester (Hybrid) Powder Coatings
- Acrylic Powder Coatings
- Polyurethane Powder Coatings
- Epoxy Polyester Powder Coatings
By Application
- Powder Coatings for Consumer Goods
- Architectural Powder Coatings
- Automotive Powder Coatings
- Powder Coatings for General Industries
- Furniture Powder Coatings
Competitive Landscape
Leading companies in this powder coatings market are also focusing on expanding their production capacities to strengthen their market position. Top powder coating product manufacturers are also investing in collaborative projects to survive competition in the market.
Some of the key developments are:
- In March 2019, PPG launched PPG ENVIROCRON extreme protection edge coatings, which uses a patent-pending, advanced powder coatings technology that delivers exceptional edge corrosion protection in one coat. Specially formulated to cover sharp edges created during metal fabrication, this innovative technology provides coverage that surpasses standard one-coat and two-coat powder systems.
Get Customization on this Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=4540
Key players in the Powder Coatings Market
- PPG Industries
- The Sherwin-Williams Company
- Akzo Nobel N.V.
- Axalta Coating Systems
- LLC
- Jotun A/S
Key Takeaways from the Market Study
- The global powder coatings market is expected to reach a valuation of US$ 15 Bn by 2031.
- Epoxy-based coatings hold more than 30% total market share when categorized based on resins.
- Europe leads the global market with a majority market share of more than 30%. Increasing automotive production is cited as the most visible factor for regional growth.
- Consumer goods account for maximum demand for powder coatings, with a market share of over 23%.
- Increasing application in furniture will expand the segment at a robust CAGR of more than 8%.
Explore Fact.MR's Coverage on the Chemical & Materials Domain –
Low GWP Refrigerants Market Insights- Despite growing evidence of hydrofluorocarbons' (HFCs) negative impact on the environment, their penetration remains high. Because of the environmental impact of HFCs, regulations on their use have become more stringent over time. These reasons, according to Fact.MR, are anticipated to boost the market for low GWP refrigerants in the near future. Leading countries are enacting regulations to mitigate the negative environmental effects of ozone-depleting refrigerants and to encourage end-users to utilize low-GWP refrigerants.
Hydrocarbon Solvents Market Survey- The COVID-19 epidemic caused a drop in the market for hydrocarbon solvents in 2020. Governments in numerous nations issued lockdowns, halting output and causing force majeure in a variety of businesses. This sped up the process of obtaining hydrocarbon solvents. However, due to the ease with which production facilities may be locked down and reopened, the market for hydrocarbon solvents is expected to rise at a moderate rate over the projection period. The growing use of hydrocarbon solvents in a variety of industries, from inks to pharmaceuticals, is expected to drive global demand.
Expanded Polypropylene Foam Market Report- The global Expanded Polypropylene (EPP) foam market will be propelled by its penetration in several end-use sectors including as packaging, consumer products, and furniture. The rapid development in vehicle and consumer goods production necessitates a rise in demand for expanded polypropylene foam products. Expanded polypropylene (EPP) foam is a great material for a range of applications due to its eco-friendly and high-performance nature. With increased investments in industrial industries across major economies, EPP foam demand is likely to grow even more.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
Japan Sales Office
4-1-1 Nakano,
9F Nakano Sunplaza
Tokyo, 164-8512
Japan
E: sales@factmr.com
