Theglobal powdercoatings market size is predicted to reach USD15 billion by2026, exhibiting a CAGRof 6.8% during the forecast period. The growing shift fromliquid coatings to powder coating owing to its safe and anti-hazardous wastefactor will fuel the demand for powder coatings, which in turn will boost thepowder coatings market growth in the forthcoming years.
Asthe solvent used in liquid coatings produce harmful fumes and the used solventsare considered as hazardous waste. Also discarded liquid coatings should bedisposed of properly which can be an expensive and time-consuming process.This, factor will play a critical role in propelling the growth of themarket.
Accordingto the report published by Fortune Business Insights, titled "Powder Coatings Market Size,Share & Industry Analysis, By Resin (Thermoset {Epoxy Polyester, Polyester,Epoxy, Polyurethane, Acrylic, and Others}, and Thermoplastic {Polyvinylchloride (PVC), Nylon, Polyolefin, and Polyvinyl Fluoride (PVF)}), By CoatingMethod (Electrostatic Spray, Fluidized Bed, and Others), By Application, andRegional Forecast, 2019-2026." The market stoodat USD 8.98 billion in 2018.
Overview of the Impact of COVID-19 on this Market:
Theemergence of COVID-19 has brought the world to a standstill. We understand thatthis health crisis has brought an unprecedented impact on businesses acrossindustries. However, this too shall pass. Rising support from governments andseveral companies can help in the fight against this highly contagious disease.There are some industries that are struggling and some are thriving. Overall,almost every sector is anticipated to be impacted by the pandemic.
Weare taking continuous efforts to help your business sustain and grow duringCOVID-19 pandemics. Based on our experience and expertise, we will offer you animpact analysis of coronavirus outbreak across industries to help you preparefor the future.
Competitive Landscape:
Launch of Interpon Low-E Products by AkzoNobel N.V to EnableMarket Growth
AkzoNobelN.V unveiled its first Low-E products. The coarse texture range includesrange a of smooth finishes in Interpon 610. The specially engineered Low-Eproducts will offer curing at temperatures lower than the current standard of180-190°C, the new offering is TGIC-free polyester will also help save energyand aid customers to improve their efficiency. The lauch of the Low-E productsis predicted to spur sales opportunities for the powder coatings market shareduring the forecast period owing to its design for wide range of applicationssuch as industrial manufacturers of steel constructions, street and gardenfurniture, and agricultural and construction equipmen
Daniela Vlad, Managing Director of AkzoNobel's PowderCoatings business, said in a statement, "As the world leader in oursector, we're fully focused on continuing to set the standards for quality,service and innovation." He further added, "The launch of this newrange is just the latest example of how we're always looking to help customersimprove their efficiency, save energy and lower their environmentalfootprint."
Theglobal powder coatings market size encompasses a complete assessment of themarket. It contains facts, thoughtful insights, historical information,industry-validated market information, and projections with a suitable set ofassumptions and methodology. It offers valuable insights into all the notabledevelopments of the powder coatings market trends. It shares a completeoverview of all the segments and parts of the market and also providesstatistical data on all the regions. It is created after extensive researchfollowed by an all-encompassing analysis to benefit companies, stakeholders,financers, and potential investors. Moreover, it also includes productlaunches, acquisitions, collaborations and partnerships, and industrydevelopments.
Regional Analysis
The surge in Electronics Industry to Influence Growth in Asia Pacific
Themarket size in Asia Pacific generateda revenue of USD 4.21 billion in2018. The growth in the region is attributed to increasing disposableincome. The improving standards of living in countries such as China, Japan, Singapore, Malaysia,and Vietnam will have a good impact onthe market in the region. The growth of the automotive and electronicsindustries in Thailand, China, India, Taiwan, and South Korea isexpected to aid the growth of the market in AsiaPacific.
Themarket in North America is expected togrow rapidly owing to the increasing environmental concerns and risingawareness regarding the harmful effects of solvent-based coatings. Europe is predicted to witness significant growthduring the forecast period owing to the growing automotive industry. Latin America is predicted to grow steadily dueto growing automotive sector, inflation reduction, low lending rates, andeconomic growth in the region.
Source: https://www.fortunebusinessinsights.com/powder-coatings-market-102139
