Global Powder Coating Market
Global Powder Coating Market size was valued US$ XX and is estimated to reach US$ XX at CAGR of about XX % during a forecast period.
Demand for powder coatings has increased owing to growing technological innovation and increasing demand from applications such as architectural, appliances, automotive. Advantages of powder coatings over wet paint systems such as predefined film thickness and easy rework of poorly coated areas are factors driving market demand over a forecast period. Powder coating is conservative, durable, quality membrane, perfect toughness, and scratch resistance, shine retention, waterproof and impermeable to chalking. Powder coating performs well in extreme environmental conditions. It complies with the American Automobile Manufacturers Association particulars and is an eco-friendly procedure. Powder coatings are cost-effective compared to other coatings and contain no solvents and volatile organic compounds. Also powder coating has the ability to be recovered and reused hence reducing by product waste. These all factor drives the powder coating market.Thermosets is dominating the powder coating market. Thermosets are generally preferred because they are resistant to elevated temperatures. Out of thermoset sub-segments, Polyester and polyurethane comprises large market share. Epoxy polyester segment is seen to be rapid growing in powder coating. Electrostatic spray is the most employed coating technique as it allows coating of complex shapes and does not require preheating of part to be coated. Electrostatic spray segment is expected to continue its dominance throughout the forecast period.Growing product demand for various applications inducing horns, wipers, radiator grills, door handles, wheel rims, metallic structural component, bumpers, and bicycle will propel market growth over the forecast period. Appliances segment to grow at high CAGR around XX.XX% the global powder coating market comprising one fifth of the market share. Architectural coating dominated the market followed by automotive held a significant portion of worldwide utilization of powder coatings.The report from Maximize market research provides the detail study of the market by various segments. The report covers a geographic breakdown and a detailed analysis of each of the segments across North America, Europe, Asia Pacific, and LAMEA, and each countries under it.Asia Pacific is estimated to be the dominant region on account of the robust growth of sectors in China and India. Asia Pacific comprise one third of the global powder coating market. Europe experiences a good growth in the automotive category while Middle East & Africa are expected to witness XX% growth in forecast period.
