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Powder Coatings Market : Emerging Trends, Highlights and Challenges Forecast to 2023
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Powder coatings are used in door handles, rims, under hood components thereby providing superior finish and texture. Powder coatings constitute polymer resin systems combined with curatives, pigments, leveling agents, flow modifiers and other additives such as tin pigments and extenders.
Based on resin type, powder coatings are categorized as thermoplastics and thermoset. Thermoplastics are soft and can be re-molded and welded upon heating whereas thermoset polymer cannot be molded or re-molded upon heating.
Powder coatings offer high-quality finish and are therefore, found in major end use industries thereby, protecting heavy machineries from scratch, chipping, abrasions, coatings, fading and others.
The increasing advancements in terms of durability, scratch resistance, gloss retention, and resistance to chalking is expected to result in the increasing penetration of powder coatings in regions having extreme weather conditions for protecting the metal parts when exposed to severe heat.
Additionally, with the increasing adoption of powder coatings over liquid coatings, and government regulations regarding the VOC levels has spurred the market. Increasing demand for appliances, flourishing construction industry and rapid economic growth in emerging countries are a few other reasons for the growth of global market.
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Some of the key players in the global powder coatings market include AkzoNobel, PPG Industries, Inc., Sherwin Williams Company, Axalta Coating Systems Ltd., BASF SE, Nippon Paint Holdings Co., ltd, DuPont, Jotun A/S and Asian Paints Limited.
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