Powder Coatings Market size exceeded USD 10 billion in 2018 and reach USD 17.57 billion by 2025.
Ocean View, DE -- (SBWIRE) -- 04/02/2020 -- The Asia Pacific dominated the powder coatings market in 2018 owing to the significant development of the automotive and construction sectors in China, India, and Japan. Other factors contributing to regional growth include the low labor rates and abundance of skilled workforce. This enables the industry participants in this region to retail their products in the international market at competitive prices. Growing demand for home appliances with the increasing disposable income specifically in urban areas fueled industry growth.
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Environmental degradation leading to a rise in carbon emission levels coupled with changing consumer preferences towards the construction of green buildings and the utilization of eco-friendly building materials will support powder coatings consumption. Stringent regulations set by the government and other recognized regulatory authorities to control VOC levels have steered the adoption of powder coatings across the globe.
These materials carry several sustainability advantages over competing products such as anodizing or liquid PVDF paints. It has been estimated that global powder coatings market share is likely to surpass USD 17 billion by 2025. The rapid acceptance of these products is derived from the low VOC emission levels they entail.
Company profiled in the powder coatings market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
4. Asian Paints
5. PPG Industries
8. Dulux Powder & Industrial Coatings New Zealand
10. Kansai Paint Private Limited
11. SOMAR CORPORATION INDIA PRIVATE LIMITED
13. Marpol Pvt Ltd
15. Nippon Paint (Pakistan) (Pvt) Ltd
16. RPM International Inc.
17. Cloverdale Paint Inc.
18. Diamond Vogel
19. Hentzen Coatings
Factors such as rising per capita income, consumer preferences for high-performance products along with advancements in technology are responsible for the powder coatings industry expansion. Formulation and implementation of favorable policies by regional governments to reduce consumption of volatile organic compounds will boost the product demand. For instance, in 2017, national standards were revised by the Chinese government to lower VOC emission across the automotive industry.
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Powder coatings market share has experienced a veritable expansion over the years owing to the benefits associated with the products, including durability, superior- quality and enhanced efficiencies on virtually any type of material. Powder-coated surfaces are essentially more resistant to scratches, chipping, fading and wearing than any other finishes.
Thermoplastic resins can be easily molded into any different shape or structure, making the plastic resin acceptable for use across several industries. High recyclability, reshaping ability, tailored elasticity, dimensional stability, superior impact resistance, chemical resistance, and no discharge of harmful fumes or gases are some of the pivotal factors fostering powder coatings market outlook. These coatings can be found on common electronic appliances like refrigerators, or on everyday use furniture like bookshelves. Thermoplastic powder coatings enable the easier application of thicker layers that are extremely resilient to different types of stress. They also provide effective electrical insulation, besides being VOC and BPA free.
o Construction equipment
o Oil & Gas
o General Metal
Automotive & transportation component applications accounted for over 16% of the revenue share in 2018. Increasing preference among automotive manufacturers owing to cost benefits, corrosion resistance and enhanced aesthetic appearance triggering the powder coatings market growth. Additionally, the necessity to avoid corrosion in rims, door handles, and underhood components will spur product application scope. Increasing demand for resilient texture and improved aesthetics in high-performance cars is also likely to spur product sales.
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The powder coatings market is highly competitive in nature with the presence of key companies including AkzoNobel N.V., Asian Paints, BASF, Kansai Paints, Axalta Coating System, PPG Industries, RPM International, The Valspar Corporation, The Sherwin-Williams Company, Dulux Powder & Industrial Coating, Dupont Coating & Colour Technologies Group, Jotun Powder Coatings, Somar Corporation, Marpol, Protech Oxyplast Powder Coating, Nippon Paint Co., Ltd., Cloverdale Paint, Inc., Vogel Paint, Inc., Hentzen Coating, Inc., and Evonik Industries.
Main Features of the Global Market Research Report:
The report delivers the market valuation as well as the projected growth rate of the market spanning all years till 2025.
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