Powder Coatings Market to Hold the Largest Market Share by 2027, Fortune Business Insights™
The global powder
coatings market size is predicted to
reach USD 15 billion by 2026, exhibiting a CAGR of 6.8% during the forecast
period. The growing shift from liquid coatings to powder coating owing to its
safe and anti-hazardous waste factor will fuel the demand for powder coatings,
which in turn will boost the powder coatings market growth in the forthcoming
years. As the solvent used in liquid coatings produce harmful fumes and
the used solvents are considered as hazardous waste. Also discarded liquid
coatings should be disposed of properly which can be an expensive and
time-consuming process. This, factor will play a critical role in propelling
the growth of the market.
According
to 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 {Polyvinyl chloride (PVC), Nylon, Polyolefin, and Polyvinyl
Fluoride (PVF)}), By Coating Method (Electrostatic Spray, Fluidized Bed, and
Others), By Application, and Regional Forecast, 2019-2026. The market stood at
USD 8.98 billion in 2018. The global powder coatings market size encompasses a
complete assessment of the market. It contains facts, thoughtful insights,
historical information, industry-validated market information, and projections
with a suitable set of assumptions and methodology. It offers valuable insights
into all the notable developments
of the powder coatings market trends.
It shares a complete overview of all the segments and parts of the market and
also provides statistical data on all the regions. It is created after
extensive research followed by an all-encompassing analysis to benefit
companies, stakeholders, financers, and potential investors. Moreover, it also
includes product launches, acquisitions, collaborations and partnerships, and
industry developments.
The Report Lists the Key Companies
in the Powder Coatings Market
·
BASF SE
·
Jotun
·
Axalta
Coating Systems,
LLC
·
The Sherwin-Williams Company
·
Kansai Nerolac Paints Limited
Competitive
Landscape
Launch
of Interpon Low-E Products by AkzoNobel N.V to Enable Market Growth
AkzoNobel
N.Vunveiled its first
Low-E products. The coarse texture range includes a range of smooth finishes in
Interpon 610. The specially engineered Low-E products will offer curing at
temperatures lower than the current standard of 180-190°C, the new offering is
TGIC-free polyester will also help save energy and aid customers to improve
their efficiency. The launch of the Low-E products is predicted to spur sales
opportunities for the powder coatings
market share during the forecast period owing to its design for a wide range of
applications such as industrial manufacturers of steel constructions,
street and garden furniture, and agricultural and construction equipment.
Daniela Vlad, Managing Director of AkzoNobel’s Powder Coatings 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 the latest example of how
we’re always looking to help customers improve their efficiency, save energy
and lower their environmental footprint.”
Regional Analysis
Surge in Electronics Industry
toInfluence Growth in Asia Pacific
The market size in Asia Pacific
generated a revenue of USD 4.21 billion in 2018. The growth in the region is attributed to increasing disposable income. The improving standards of
living in countries such as China, Japan, Singapore, Malaysia, and Vietnam will
have a good impact on the market in the region. The growth of the automotive
and electronics industries in Thailand, China, India, Taiwan, and South Korea
is expected to aid the growth of the market in Asia Pacific. The market in
North America is expected to grow rapidly owing to the increasing environmental
concerns and rising awareness regarding the harmful effects of solvent-based coatings.
Europe is predicted to witness significant growth during the forecast period
owing to the growing automotive industry.Latin America is predicted to grow
steadily due to growing automotive sector, inflation reduction, low lending
rates, and economic growth in the region.
Information Source:
https://www.fortunebusinessinsights.com/powder-coatings-market-102139
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