Chicago, Jan. 17, 2023 (GLOBE NEWSWIRE) -- The global "Powder Coatings Market" is projected grow to USD 16.8 billion by 2026, at a CAGR of 3.9% from USD 13.8 billion in 2021, as per the recent study by MarketsandMarkets™. Strong growth can be witnessed in the powder coatings market in the APAC region, especially in China, India, and South-East Asian countries. The increasing use of Powder Coatings in the appliance and automotive industry is projected to create new opportunities for the market players.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=151375565
Browse In-Depth TOC On " Powder Coatings Market”
348 - Market Data Tables
57 - Figures
408 - Pages
List of Key Players in Powder Coatings Market:
- 1.PPG Industries, Inc. (US),
- The Sherwin-Williams Company (US),
- Akzo Nobel N.V. (Netherlands),
- Axalta Coating Systems, LLC (US),
- Tiger Coatings GmbH & Co. KG (Austria)
- Jotun A/S (Norway).
Drivers, Restraints, Opportunities and Challenges in Powder Coatings Market:
- Driver: Growth in various end-use industries
- Restraint: Difficulty in obtaining thin films
- Opportunity: Increasing use of powder coating in automotive industry
- Challenge: Powder Coating Market Challenge Environmental Challenges
Key Findings of the Study:
- Thermoset resin segment is projected to be the largest segment of the Powder Coatings market.
- Appliance industry is the fastest-growing end-use industry segment of the Powder Coatings market.
- APAC is the largest Powder Coatings market, globally.
Get Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=151375565
Technological advancements in powder coating materials, their unique applications, and advanced curing methods have enhanced the use of powder coating in heat-sensitive substrates. Medium-density fiberboard (MDF), a combination panel bonding between particles of wood and synthetic resin, is one of the most important advancements in powder coatings used in heat-sensitive substrate applications.
APAC is expected to be the largest and fastest-growing market for Powder Coatings. The rising disposable income in the developing countries of APAC is driving the powder coatings market. The demand for powder coating has increased in countries such as India, Indonesia, Malaysia, and Vietnam because of the growing automotive, furniture, appliances, industrial, and agriculture sectors. Countries such as India, China, and Indonesia are investing heavily in various end-use industries, which is likely to influence the growth of the powder coatings market in these countries.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=151375565
The appliance industry is expected to lead the overall Powder Coatings market, in terms of both value and volume, between 2020 and 2025. The global appliances market is increasing due to the technological advancements, growth in the housing sector, rapid urbanization, rise in per capita income, improved standard of living, change in consumer lifestyle, and the escalating number of smaller households.
Continuous developments in the market, including new product launches, contracts & agreements, joint ventures, and acquisitions, are expected to help the market grow. Several products are being introduced, and investments are made on increasing the production capacity of powder coatings by manufacturers for different applications. The advancement in technology is expected to increase the penetration of powder coatings in various end-use industries.
Browse Adjacent Markets Coatings Adhesives Sealants and Elastomers Market Research Reports & Consulting
Related Reports:
