The global powder coatings market size is predicted toreach USD 15 billion by 2026, exhibiting a CAGR of 6.8% during the forecastperiod. The growing shift from liquid coatings to powder coating owing to itssafe and anti-hazardous waste factor will fuel the demand for powder coatings, whichin turn will boost the powder coatings market growth in the forthcoming years.As the solvent used in liquid coatings produce harmful fumes and the usedsolvents are considered as hazardous waste. Also discarded liquid coatingsshould be disposed of properly which can be an expensive and time-consumingprocess. This, factor will play a critical role in propelling the growth of themarket.
According to the report published byFortune Business Insights, titled “Powder Coatings Market Size, Share &Industry Analysis, By Resin (Thermoset {Epoxy Polyester, Polyester, Epoxy,Polyurethane, Acrylic, and Others}, and Thermoplastic {Polyvinyl chloride(PVC), Nylon, Polyolefin, and Polyvinyl Fluoride (PVF)}), By Coating Method(Electrostatic Spray, Fluidized Bed, and Others), By Application, and RegionalForecast, 2019-2026. The market stood at USD 8.98 billion in 2018. 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.
Competitive Landscape
Launch of Interpon Low-E Products byAkzoNobel N.V to Enable Market Growth
AkzoNobel N.V unveiled its first Low-Eproducts. The coarse texture range includes a range of smooth finishes inInterpon 610. The specially engineered Low-E products will offer curing attemperatures lower than the current standard of 180-190°C, the new offering isTGIC-free polyester will also help save energy and aid customers to improvetheir efficiency. The launch of the Low-E products is predicted to spur salesopportunities for the powder coatings market share during the forecast periodowing to its design for a wide range of applications such as industrial manufacturersof steel constructions, street and garden furniture, and agricultural andconstruction equipment. Daniela Vlad, Managing Director of AkzoNobel’s PowderCoatings business, said in a statement, “As the world leader in our sector,we’re fully focused on continuing to set the standards for quality, service,and innovation.” He further added, “The launch of this new range is just thelatest example of how we’re always looking to help customers improve theirefficiency, save energy and lower their environmental footprint.”
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Regional Analysis
Surge in Electronics Industry toInfluence Growth in Asia Pacific
The market size in Asia Pacificgenerated a revenue of USD 4.21 billion in 2018. The growth in the regionis attributed to increasing disposable income. The improving standards ofliving in countries such as China, Japan, Singapore, Malaysia, and Vietnam willhave a good impact on the market in the region. The growth of the automotiveand electronics industries in Thailand, China, India, Taiwan, and South Koreais expected to aid the growth of the market in Asia Pacific. The market inNorth America is expected to grow rapidly owing to the increasing environmentalconcerns and rising awareness regarding the harmful effects of solvent-basedcoatings. Europe is predicted to witness significant growth during the forecastperiod owing to the growing automotive industry. Latin America is predicted togrow steadily due to growing automotive sector, inflation reduction, lowlending rates, and economic growth in the region.
The Report Lists the Key Companies inthe Powder Coatings Market
- AkzoNobel N.V.
- PPG Industries, Inc.
- BASF SE
- Jotun
- Axalta Coating Systems, LLC
- The Sherwin-Williams Company
- Asian Paints Ltd.
- Kansai Nerolac Paints Limited
- TCI Powder
