Powder Coatings Market Growth and Prominent Key Players Like AkzoNobel, BASF, Evonik, Asian Paints, PPG Industries, Valspar, Jotun
The powder coatings market is driven by widespread metal coating applications across several industry verticals.
Sellbyville, DE -- (SBWire) -- 04/07/2020 --As per the latest research report, Powder coatings market size exceeded USD 10 billion in 2018 and will reach USD 17.57 billion by 2025. The product exhibits several environment-friendly benefits pertaining to solvent free chemical base which leads to minimal VOC emissions as compared to liquid paints. Moreover, it is cost effective and produces high quality finishes over metal surfaces, fueling product demand.
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Majority of home appliances are large machines consisting of metal structure making them extremely vulnerable to corrosion from moisture, chemicals and water. For instance, the appliances such as washing machines, dish washers and refrigerators are constantly exposed to water, requiring safeguarding of the metal body. Powder coatings find strong application in manufacturing home appliances such as vacuum cleaners, microwave ovens, refrigerators, dishwashers, water heater, etc.
The advantages of high corrosion resistance for lower price, superior gloss retention and easy applicability over conventional paints will propel powder coatings market growth over the forecast timeframe. According to a new research report by Global Market Insights, Inc., Powder Coatings Market size is projected to hit USD 17 billion by the end of 2025. Some of the trends that will be responsible for the growth of this market are stated underneath.
Home appliances play an important role in the households as they add convenience and comfortability to one's life. Rising spending power coupled with enhanced standard of living has changed the lifestyle needs, driving the home appliances demand. Home appliances accomplish several days to day tasks like cooking, cleaning, washing, purifying, food preservation etc. Apart from easing off the tasks they also enrich the aesthetics of home décor.
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The latest technologies and innovations to produce more user-friendly home appliances for making everyday tasks as easy as possible, will drive the home appliance demand, subsequently augmenting powder coatings market share over the forecast timeframe.
Powder coatings provide several benefits over conventional liquid coatings, especially the high durability and easy applicability will continue supporting product adoption across various industries throughout the forecast period. Powder coats are capable of producing much thicker layer of coatings as compared to the solvent based counterparts which sustain the issues with sagging or running of liquid coats, impacting the paint finish.
Company profiled in the powder coatings market report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. AkzoNobel N.V.
2. Asian Paints
4. Kansai Paints
5. Axalta Coating System
6. PPG Industries
7. RPM International
8. The Valspar Corporation
9. The Sherwin-Williams Company
10. Dulux Powder & Industrial Coating
11. Dupont Coating & Colour Technologies Group
12. Jotun Powder Coatings
13. Somar Corporation
15. Protech Oxyplast Powder Coating
Nowadays, the color of the appliance has become a highly influencing factor for consumers, pertaining to their purchasing decisions. As a result, appliance manufacturers have started focusing on improving the product exteriors by launching several options with stylish colors, finishes, and texture combinations.
As per studies the concentrations of many VOCs recorded indoors are up to ten times higher than those of the outdoors. Long term exposure to VOCs can lead to adverse effects on health, requiring curbing the residential VOCs emissions. As powder coatings release small amounts of VOCs, Stringent government regulation to control VOCs emission is likely to fuel the product adoption, thereby accelerating powder coatings market outlook over the forecast period.
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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.
-The report also describes the major drivers of the market by considering as well as taking calculated risks, in tandem with identifying and testing new strategies.
-The research report endorses a detailed industry chain analysis. Also, it covers the production process of the market, upstream raw material supplier information, raw material costs, labor costs, manufacturing costs, marketing channels, as well as the downstream buyers of the market.
-The report provides detailed knowledge about the competitive scenario of the global market and also discusses the numerous marketing strategies adopted by companies to stay ahead in the competition.
-The report analyses the various market segments and also provides their contribution to the development of the global industry.
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