Powder Coatings Market to Reach USD $18.32 Billion by 2026 | Reports and Data
Market Size - USD $11.10 Billion in 2018, Market Growth - CAGR of 6.2%, Market Trends - Rise of environment-friendly coating technologies.
NEW YORK, August 29, 2019 (Newswire.com) - An increase in demand, owing to properties such as durability, scratch resistance and glossy looks, is influencing the market growth.
The global powder coatings market is expected to reach USD $18.32 billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the increase in demand, owing to properties such as durability, scratch resistance, and glossy looks, which are influencing the market growth. Growing popularity among end users, especially automotive, shipbuilding and pipeline industries, will also encourage the growth of the market. The implementation of stringent regulations across several countries, regarding green and solvent-free coating technologies, will lead to a reduced amount of VOC emissions. This will boost the demand for powder coatings worldwide.
Powder coatings can be used on a variety of substrates, including metallic and non-metallic materials, have a wide range of colors, thicknesses, finishes and textures. They can be easily applied in much higher thicknesses compared to conventional liquid coatings without running, dipping or sagging. Moreover, since powder coatings are composed entirely of solid coating material, applying the coating of a specific thickness can be achieved with fewer applications of powder.
Powder coating provides consumers with a long-lasting, economical, and durable finish, along with a range of color choices available for metallic and non-metallic substrates. Moreover, powder coatings are environmental friendly, as compared to solvent-based liquid painting solvents that emit volatile organic compounds (VOC). Since powder coatings are solvent-free coating systems, it releases nearly negligible amounts of VOCs.
Expenses in terms of cost and energy consumption will be a hindrance to the growth of the market.
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Further key findings from the report suggest
- The market is segmented on the basis of coating type into electrostatic spray coating, fluidized bed coating, electrostatic fluidized bed process, and flame spraying. Electrostatic spray coating accounts for the largest market share of ~32% in 2018, due to better finish quality and speed.
- The market is segmented on the basis of resin type into thermoset and thermoplastic. The thermoset resin type segment holds the larger market share of ~60% in the year 2018 and is forecast to witness a higher growth rate of 6.6% during the forecast period.
- The market is segmented on the basis of the substrate into metallic, non-metallic and inter-metallic. Metallic substrates account for about ~70% of the market, due to its demand from the automotive, agricultural, construction and equipment, outdoor furniture, HVAC, and electrical industries.
- The market is segmented on the basis of geography by North America, Europe, Asia-Pacific, Latin America, and MEA. The Asia Pacific region accounted for the highest market share of ~40% in 2018. Rising disposable income and the growing population will positively affect the demand for powder coating technologies in automobiles, electronics and other industries.
- Key participants include PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Axalta Coating Systems, BASF SE, Nippon Paint Holdings Co., Ltd., and Kansai Paint Co., Ltd, among others.
- The companies have adopted various strategies including mergers, acquisitions and partnerships to hold ongoing trails and come up with new developments in the market.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/powder-coatings-market
For the purpose of this report, Reports and Data have segmented the global powder coatings market on the basis of resin type, coating type, substrate, application, and region:
Resin type Outlook (Volume, Kilotons; 2018-2026 and Revenue, USD Billion; 2018-2026)
- Epoxy Polyester Hybrid
- Others (Fluoropolymer)
- Polyvinyl Chloride (PVC)
- Polyvinyl Fluoride (PVF)
Coating type Outlook (Volume, Kilotons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Electrostatic Spray Coating
- Fluidized Bed Coating
- Electrostatic Fluidized Bed Process
- Flame Spraying
Substrate Outlook (Volume, Kilotons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Stainless Steel
- Tribological Materials
Applications Outlook (Volume, Kilotons; 2018-2026 And Revenue, USD Billion; 2018-2026)
- Consumer goods
- General industries
Regional Outlook (Volume, Kilotons; 2018-2026 and Revenue, USD Billion; 2018-2026)
- North America
- Southeast Asia
- Latin America
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Tags: Competitive Intelligence, Forecast, Industry Overview, Industry Segment, Industry Statistics, Market Leaders, Market Players, Outlook, Powder Coatings Market, Price Trend Analysis, Reports and Data, Trends