Powder Coatings Market to Expand at a CAGR of 6.6% by 2026-end due to Growing Adoption of Eco-friendly Products, Says TMR

News provided by

Apr 25, 2019, 06:00 ET

ALBANY, New York, April 25, 2019 /PRNewswire/ -- The global powder coatings market has a highly competitive vendor landscape, predicts Transparency Market Research (TMR) during the study period. Akzo Nobel N.V., Axalta Coating Systems, PPG Industries, Inc., The Sherwin-Williams Company, PPG Industries, Inc., BASF SE, Kansai Paint Co., Ltd, and Nippon Paint Holdings Co., Ltd. are some of the key players in the global powder coatings market. These key players are increasingly investing in the production of more safer and green products; the introduction of these products is helping them to gain a profitable edge of the global powder coatings market.

According to TMR, the global powder coatings market is assessed to expand at a CAGR of 6.6% over the forecast period from 2018 to 2026. With this vigorous CAGR, the market is expected to attain a value of US$16,203.14 mn by 2026-end from the revenue collected in 2017 of US$ 9099.66 mn.

Request a Sample of Global Powder Coatings Market:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1134

Based on the type, the thermoset segment dominated the global powder coatings market in the years 2017 and is likely to remain dominant over the forecast period. On the basis of the coating method, the electrostatic spray segment dominated the global powder coatings market in terms of volume. Regionally, the Asia Pacific led the pack in 2017 and is expected to be the leading region by the end of the forecast period. This growth is ascribed to the rapid industrialization in the region. However, in terms of volume and value, North America is dominant and is estimated to be dominant in the years to come.

Stringent Regulation on VOCs to be Beneficial for the Powder Coatings Market's Growth

Numerous countries have declared several guidelines over the evaluation, storage, registration, usage, transportation of certain substances, and their handling along with waste treatment, emission, and effluent emission. Additionally, these norms are strict and thus a violation of these regulations results to the legal obligation. Thus, the manufacturers are avoiding the use of harmful or solvent-based coatings, as they are more likely to emit VOCs on a large level. This shift of manufacturers from solvent-based coatings to water-based coatings such as powder coatings and thus, its emission of VOCs is negligible than solvent based-coatings. This is a key factor supporting the growth of the powder coatings market. Additionally, the absence of efficient alternatives is likely to drive market growth in the coming few years.

Request for Custom Research:
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1134

Additionally, powder coatings offer excellent texture and improved metallic color. It also enhances abrasion and scratch protection, which improves the overall look of the material. This use of powder coating is widening across numerous industries such as automotive, mechanical, and construction. Farther, comparing with liquid coatings, the powder coating has high heat transfer efficacy, which is boosting its applications across the other industries such as earthmoving equipment, agriculture, and appliances. This widening application is likely to propel the market's growth in the forthcoming years.

High Investment in R&D to Offer Opportunities for Growth in Future

Advantages of powder coatings such as recycling and especially reusing of the over-sprayed product are enhancing its transfer efficiency and resulting to drive the growth of the powder coatings market. Coating effectiveness is likely to be a key fuelling factor for increasing market size in the forthcoming years.

Request for Multiple Chapters on Global Powder Coatings Market: https://www.transparencymarketresearch.com/sample/sample.php?flag=MC&rep_id=1134

However, the requirement of high investment for machinery, energy cost along with demand for large equipment required is challenging growth of the global powder coatings market. This factor is challenging more likely to the manufacturers in the developing or cost-sensitive markets across the Asia Pacific and the Middle East & Africa, which is restraining growth of the global powder coatings market.

Nonetheless, key and well-established players are gaining benefit from this and investing in these regions, which are helping them to expand their business across these regions. Additionally, well-established players present in the regions are investing to improve their production capacity and R&D of green and efficient powder coating. These instances of the high investment are expected to offer opportunities for growth of the global powder coatings market in forthcoming years.

Request for Discount on This Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=1134

This information is encompassed in the report by TMR, titled, "Powder Coatings Market (Type - Thermoset (Epoxy, Polyester, Epoxy Polyester Hybrid, Acrylic), Thermoplastics (Polyvinyl Chloride, Nylon, Polyolefin, Polyvinylidene Fluoride); Coating Method - Electrostatic Spray, Fluidized Bed; Application - General Metals, Metal furniture, Agriculture, Construction and Earthmoving Equipment, Automotive, Architectural, Appliances) - Global Industry Analysis, Value, Share, Growth, Trends, and Forecast, 2018 - 2026."

For the study, the powder coatings market has been segmented as follows:

Type

Thermoset

Epoxy
Polyester
Epoxy Polyester Hybrid
Acrylic
Others

Thermoplastics

Polyvinyl Chloride (PVC)
Nylon
Polyolefin
Polyvinylidene Fluoride (PVDF)

Coating Method

Electrostatic Spray
Fluidized Bed

Application

General Metals
Metal Furniture
Agriculture, Construction, and Earthmoving Equipment (ACE)
Automotive
Architectural
Appliances
Others

Geography

North America

U.S.
Canada

Europe

U.K.
Germany
France
Spain
Italy
Rest of Europe

Asia Pacific

China
Japan
Australia
India
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

South Africa
Saudi Arabia
Rest of Middle East & Africa

Browse Chemicals & Materials Market Research Reports

Popular Research Reports by TMR:

Polyester Staple Fiber Market:
https://www.transparencymarketresearch.com/polyester-staple-fiber.html
Construction Adhesives Market:
https://www.transparencymarketresearch.com/construction-adhesive-market.html
Nylon 66 Market:
https://www.transparencymarketresearch.com/nylon-66-market.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: https://www.transparencymarketresearch.com
Research Blog: http://www.europlat.org/