Press release
Powder Coatings Market to grow at 7% CAGR from 2020 to 2025 | US$ 17 Bn
The advantages of high corrosion resistance for lower price, superior gloss retention and easy applicability over conventional paints will propel powder coatings market growth over the forecast timeframe. According to a new research report by Global Market Insights, Inc., Powder Coatings Market size is projected to hit USD 17 billion by the end of 2025. Some of the trends that will be responsible for the growth of this market are stated underneath.
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Increasing home appliances demand
Majority of home appliances are large machines consisting of metal structure making them extremely vulnerable to corrosion from moisture, chemicals and water. For instance, the appliances such as washing machines, dish washers and refrigerators are constantly exposed to water, requiring safeguarding of the metal body. Powder coatings find strong application in manufacturing home appliances such as vacuum cleaners, microwave ovens, refrigerators, dishwashers, water heater, etc.
Home appliances play an important role in the households as they add convenience and comfortability to one’s life. Rising spending power coupled with enhanced standard of living has changed the lifestyle needs, driving the home appliances demand. Home appliances accomplish several days to day tasks like cooking, cleaning, washing, purifying, food preservation etc. Apart from easing off the tasks they also enrich the aesthetics of home décor.
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Powder coats add a durable finish to the appliances and allows them sustaining the damages from the everyday use. When applied, the product forms a uniform thick coat over the metal surface so that it can be painted with dynamic colors to achieve desired paint gloss and superior exteriors.
Nowadays, the color of the appliance has become a highly influencing factor for consumers, pertaining to their purchasing decisions. As a result, appliance manufacturers have started focusing on improving the product exteriors by launching several options with stylish colors, finishes, and texture combinations.
The latest technologies and innovations to produce more user-friendly home appliances for making everyday tasks as easy as possible, will drive the home appliance demand, subsequently augmenting powder coatings market share over the forecast timeframe.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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