Know More About “Powder Coatings Market 2020-2027” Growth Worldwide…..|Grand View Research, Inc.


The global powder coatings market size is expected to reach USD 19.9 billion by 2027, at a revenue-based CAGR of 7.0% from 2020 to 2027, according to a report by Grand View Research, Inc. The market is expected to witness significant growth over the forecast period primarily owing to superior properties of powder coatings over conventional paints including high resistance to corrosion, chipping, and abrasion, durability, cost-effectiveness, excellent finishing, and reduced processing time.
Growing purchasing power, high living standard, and rapid urbanization is expected to drive the consumer goods sector, thereby driving product demand over the forecast period. Powder coatings are used in consumer goods such as refrigerators, washer tops and lids, air-conditioner cabinets, water heaters, range housings, dishwashers, microwave oven cavities, and freezer cabinets.
Asia Pacific emerged as the fastest-growing region and is expected to witness a CAGR of 7.8%, in terms of revenue, over the forecast period. Increasing demand for consumer goods such as washing machines and refrigerators in countries such as India, China, Vietnam, Philippines, and Thailand are expected to boost demand for powder coating in these applications. Growing demand for automobiles in emerging markets such as China and India coupled with favorable FDI norms by governments is expected to facilitate investment in the region.
Shortage and fluctuating prices of raw materials are expected to be the major factors restraining market growth, as they result in higher production costs, thereby minimizing the profit. However, high demand for the product owing to its growing use in industries such as automotive, construction, and furniture is anticipated to drive market growth in the future.
Mergers and acquisitions are among the popular strategic initiatives adopted by the key players. Jotun; Akzo Nobel N.V.; PPG Industries, Inc.; The Sherwin-Williams Company; Arkema S.A.; and Axalta Coating Systems are some of the leading players in the market.
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https://www.grandviewresearch.com/industry-analysis/powder-coatings-market-analysis/request/rs4
Further key findings from the report suggest:
·         Epoxy-Polyester (Hybrid) is expected to be the fastest growing resin type during the forecast period from 2020 to 2027
·         Consumer goods application occupied the largest revenue share on account of rising demand for domestic appliances in emerging countries such as India, China, Vietnam, Philippines, and Thailand. This, in turn, is expected to boost the demand for powder coatings in the coming years
·         Major key players in powder coatings market includes Akzo Nobel N.V; The Sherwin-Williams Company; PPG Industries, Inc.; BASF SE; DSM; Valspar; Axalta Coating Systems; Arkema S.A.; and Bayer AG.
Powder coatings have numerous advantages over other coatings such as lower operating costs, immediate availability, negligible VOC emission, excellent appearance, and uniform thickness. In addition, they are relatively easier to apply in thick layers of coating, which results in smooth and uniform appearance.
Rise in production of automobiles and surge in demand for medical devices is expected to be a major factor leading to the growth of the market in developing nations including India, China, Brazil, and Mexico over the forecast period. Moreover, high adoption of powder coatings in the furniture sector on account of excellent performance, low operational costs, color availability, and custom properties such as anti-corrosion and anti-bacterial functions will stimulate market expansion.
Powder coatings do not contain any solvents, which results in negligible emission of VOC in the atmosphere and reduced risk in combustion during application and storage. In addition, the powder can be easily washed off when it comes in contact with human skin which reduces health hazards for operators.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-powder-coatings-market

Polyester resin type accounted for 31.9% of the volume share in 2020 on account of its beneficial properties such as quick-drying, chemical resistance, temperature resistance, abrasion resistance, and surface protection. Surge in product demand in applications including door handles, radiator grills, wheel rims, bumpers, bicycle, and metallic structural component will propel market growth over the forecast period.
Epoxy-Polyester (Hybrid) resin type is anticipated to witness fastest growth over the forecast period on account of its properties such as toughness, flexibility, weatherability, and cheap availability as compared to other coatings. This resin type is a mixture of both polyester and epoxy resins and is mainly used for interior applications such as furniture coatings.
Grand View Research has segmented the global powder coating market on the basis of resin, application, and region:
Powder Coatings Resin Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
·         Epoxy
·         Polyester
·         Epoxy-Polyester (Hybrid)
·         Acrylic
·         Polyurethane
·         Others
Powder Coatings Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
·         Consumer Goods
·         Architectural
·         Automotive
·         General Industries
·         Furniture
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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