31 Jan, 2022, 06:30 ET
NEW YORK, Jan. 31, 2022 /PRNewswire/ -- The global powder coatings market size is expected to reach USD 17.05 Billion in 2028 and register a revenue CAGR of 5.0% over the forecast period, according to the latest report by Reports and Data. Rising demand for powder coatings from consumer goods industry is a key factor driving market revenue growth. Powder coatings are available in a variety of colors, thicknesses, finishes, and textures, and can be applied to both metallic and non-metallic substrates. When compared to conventional liquid coatings, these coatings can be applied at much higher thicknesses without running, dipping, or sagging. Powder coatings are made entirely of solid coating material, a specified thickness can be achieved with fewer powder applications, thus provide an even, smooth, and aesthetic finish to consumer goods, such as home appliances.
Demand for powder coatings has increased significantly as a result of technological advancements and cumulative requirements from application areas such as automotive, furniture, architecture, agriculture, appliances, earthmoving equipment, construction, general industries, and others. The product's increased demand in coating of door handles, radiator grills, structural components, bumpers, wheel rims, metallic, and bicycles parts, among others is expected to fuel market revenue growth. Environmental regulations are also expected to drive the growth of the global powder coatings market in the forecast period.
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Some Key Highlights From the Report
- Fluidized bed coating segment is expected to register a considerable revenue growth rate over the forecast period. Fluidized bed coating, also known as granulation, is a method of producing granules or coated particles in a single piece of equipment by spraying a binder as a solution, suspension, or melt onto a fluidized powder bed. Fluidized bed is primarily used for the application of thermoplastic powder. The fluidized bed is also used for thermoset powder applications where high film build is required.
- Consumer goods segment is expected to register a significant revenue CAGR over the forecast period. Powder coatings are widely used in consumer goods because they do not contain solvents, are more flexible than traditional liquid coatings, and comply with environmental regulations.
- Market in Asia Pacific is expected to register the highest revenue share in the global powder coatings market during the forecast period. The market is growing rapidly as a result of the region's stable economy, rising disposable income, and rising living standards in countries like India, China, Japan, Singapore, Malaysia, and Vietnam. Government initiatives also promote the use of environment friendly coating methods like powder coatings, which in turn, supports market growth.
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- In July 2019, Akzo Nobel announced plans to add three new production lines at its Changzhou powder coatings plant in China—the company's largest facility of its kind in the world. The USD 3.3 million investment will support additional supplies of acrylic powder coatings, metallic powder coatings, and powder primers for the automotive sector, strengthening Akzo Nobel's ability to deliver more locally produced premium products.
- Major companies profiled in the market report are PPG Industries, Inc., The Sherwin-Williams Company, Akzo Nobel N.V., Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited, IFS Coatings, The Valspar Corporation, TIGER Coatings, Kansai Paint Co.,Ltd., and BASF SE.
To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/powder-coatings-market
For the purpose of this report, Reports and Data has segmented the global powder coatings market based on resin type, coating type, substrate, application, and region:
- Resin Type Outlook (Revenue, USD Billion; 2018-2028)
- Epoxy Polyester Hybrid
- Polyvinyl Chloride (PVC)
- Polyvinyl Fluoride (PVF)
- Polyvinylidene Fluoride (PVDF)
- Coating Type Outlook (Revenue, USD Billion; 2018-2028)
- Electrostatic Spray Coating
- Fluidized Bed Coating
- Electrostatic Fluidized Bed Process
- Flame Spraying
- Substrate Outlook (Revenue, USD Billion; 2018-2028)
- Application Outlook (Revenue, USD Billion; 2018-2028)
- Consumer Goods
- General Industries
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- Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- a. U.S.
- b. Canada
- c. Mexico
- a. Germany
- b. UK
- c. France
- d. Italy
- e. Spain
- f. Sweden
- g. BENELUX
- h. Rest of Europe
- Asia Pacific
- a. China
- b. India
- c. Japan
- d. South Korea
- e. Rest of APAC
- Latin America
- a. Brazil
- b. Rest of LATAM
- a. Saudi Arabia
- b. UAE
- c. South Africa
- d. Israel
- e. Rest of MEA
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