Global Powder Coatings Market is expected to grow at a CAGR of 6.51% during the forecast period from 2019-2026

As per the report published by Fior Markets, the global powder coatings market is expected to grow from USD 11.92 Billion in 2018 to USD 19.74 Billion by 2026, at a CAGR of 6.51% during the forecast period from 2019-2026. The Asia Pacific region dominated the global powder coatings market with a 39.75% share of market revenue in 2018. However, The North America region accounted for a considerable market share in 2018.

"Powder Coatings Market by Resin Type (Thermoset, Thermoplastic), Substrate, Coating Method,Application, Regions",and Global Forecast 2019-2026.

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Major players in the global powder coatings market are Akzo Nobel N.V., PPG Industries, Inc., Axalta Coating Systems, The Sherwin-Williams Company, BASF SE, PPG Industries, Inc., Kansai Paint Co., Ltd, Nippon Paint Holdings Co., Ltd., IGP Pulvertechnik AG, Valspar Corporation, Allnex Italy Srl, TCI Powder Coatings, Evonik Industries, Jotun, Somar Corporation, Bayer, and Arkema among others. In order to expand their market footprint, major players are increasingly taking the merger and acquisitions route. For instance in 2017, Exalta announced the acquisition of Century Industrial Coatings (US), a leading manufacturer of high performance industrial coatings for structural steel, oil & gas, rail cars, and other OEM applications. This acquisition will enable both the companies to have the opportunity to offer their combined customers an entirely new range of products with best-in-class service.

The type segment consists of thermoset and thermoplastic resins. The thermoset resin segment is further divided into polyester, epoxy polyester hybrid, epoxy, polyurethane, acrylic and others. Whereas, the thermoplastic segment subcategorized into nylon, polyolefin, polyvinyl chloride (PVC), and polyvinyl fluoride (PVF). The thermoset resin segment is projected to grow at the highest CAGR of 8.67% over the forecast period.The substrate segment is divided into metal and non-metal. Powder coating is extensively utilized to provide the protection for metal products such as automotive parts, job shops, outdoor furniture, home appliances & consumer goods, oil & gas pipes, and HVAC. Thus, the metal substrate segment led the global powder coatings market with an 86.43% share of market revenue in 2018.The coating method segment contains electrostatic spray, fluidized bed, flame spraying and electrostatic fluidized bed process. The electrostatic spray coating method segment is anticipated to grow at an accelerated CAGR of 8.49% over the forecast period. The ease of application and less wastage properties are projected to be the primary factors driving factors for this increased growth rate. The application is segmented into consumer goods, automotive, architectural, general industries, furniture and others. The consumer goods segment dominated the global powder coatings market with a 34.28% share of market revenue in 2018.

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Even though the factors such asrising utilization in various end-use industries as well as technological advancements in application process are driving the global powder coatings market in 2018. The difficulty in obtaining thin films and environmental regulations on the powder coatings manufacturing process are expected to restrain the market growth over the forecast period.

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