Powder Coatings Market Size, Share, Key Players are AkzoNobel, Asian Paints, BASF, Marpol, Vogel Paint, Hentzen Coating, Evonik

A new research report says, Powder Coatings Market size is projected to hit USD 17 billion by 2025. 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.

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Powder coatings market is fueled by technological advancements, increasing per capita income, and consumer preference towards high performance products. Infrastructural expansion is one of the major factors that is boosting the market demand globally. With increasing number of remodeling activities and housing programs by governments, the demand for powder coatings across infrastructural development will only serve to increase in the years to come.

With respect to resin landscape, the thermoset resin segment is expected to witness rapid growth by the end of the analysis timeframe due to excellent durability, superior mechanical properties, and UV resistance. The increasing use of components like radiator grills, metallic structural components, wheel bumpers and rims, wipers, door handles, and horns, in automobiles, will boost the powder coatings market growth over the coming years.

In terms of substrates, in 2018 non-metal substrates segment from powder coatings market was valued at approximately $530 million and is likely to showcase tremendous growth over the coming years. The product is gaining traction due to the launch of low weight specialized platforms like MDFD (Medium-density-Fiberboard). Non-metal substrates however, also boast of functional advancements like chalking resistance, gloss retention, scratch resistance, and durability that will further fuel their demand across a widespread application range.

Major key players profiled in the powder coatings market are AkzoNobel N.V., Asian Paints, BASF, Kansai Paints, Axalta Coating System, PPG Industries, RPM International, The Valspar Corporation, The Sherwin-Williams Company, Dulux Powder & Industrial Coating, Dupont Coating & Colour Technologies Group, Jotun Powder Coatings, Somar Corporation, Marpol, Protech Oxyplast Powder Coating, Nippon Paint Co., Ltd., Cloverdale Paint, Inc., Vogel Paint, Inc., Hentzen Coating, Inc., Evonik Industries.

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