Increase in demand owing to its properties such as durability, scratch resistance, and glossy look is influencing the market growth.
Market Size – USD 11.10 Billion in 2018, Market Growth - CAGR of 6.2%, Market Trends – Rise of environment-friendly coating technologies.
NEW YORK, April 18, 2019 (GLOBE NEWSWIRE) -- The global powder coatings market is expected to reach USD 18.32 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the increase in demand owing to its properties such as durability, scratch resistance, and glossy look which are influencing the market growth. Growing popularity among end users, especially automotive, shipbuilding and pipeline industries, will also encourage the growth of the market. The implementation of stringent regulations across several countries, regarding green and solvent-free coating technologies, will lead to a reduced amount of VOC emissions. This will boost the demand for powder coatings worldwide.
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Powder coatings can be used on a variety of substrates, including metallic and non-metallic materials, having a wide range of colors, thicknesses, finishes, and textures. They can be easily applied in much higher thicknesses compared to conventional liquid coatings without running, dipping, or sagging. Moreover, since powder coatings are composed entirely of solid coating material, applying coating of a specific thickness can be achieved with fewer applications of powder.
Powder coating provides consumers with a long-lasting, economical, and durable finish, along with a range of color choices available for metallic and non-metallic substrates. Moreover, powder coatings are environmental friendly as compared to solvent-based liquid painting solvents that emit volatile organic compounds (VOC). Since powder coatings are solvent-free coating systems, it releases nearly negligible amounts of VOC’s.
Expenses in terms of cost and energy consumption will be a hindrance to the growth of the market.
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Further key findings from the report suggest
For the purpose of this report, Reports and Data have segmented global powder coatings Market on the basis of resin type, coating type, substrate, application, and region:
Resin type Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
Coating type Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
Substrate Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
Applications Outlook (Volume, Kilo tons; 2018-2026 And Revenue, USD Billion; 2018-2026)
Regional Outlook (Volume, Kilo tons; 2018-2026 and Revenue, USD Billion; 2018-2026)
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