Global Powder Coatings Market Study Analysis: Powder Coating Market Is Expected To Grow At A CAGR Of 10%

The global Powder Coatings market is expected to grow from $ billion in 2020 to $ billion in 2028 at a CAGR of 10%. Powder coating is applied as a free-flowing, dry powder which is generally applied electrostatically and is then cured under heat. The powder may be either a thermoplastic or a thermoset polymer. Powder coatings are mainly used for applications on metal parts that are exposed to extreme weather conditions. Powder coating is an advanced method of applying a protective finish to any type of material. The powder is a combination of finely ground particles of resin and pigment, which is electrostatically sprayed on the surface. Powder coating is the fastest-growing finishing technology in North America.

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Global Powder Coatings Drivers And Restrain:
Powder coatings possess multiple advantages as compared to other coatings which include immediate availability, excellent appearance, uniform thickness, and lower operating costs. Furthermore, they are easier to apply therefore providing a uniform and smooth appearance. Additionally, when the powder comes in contact with the skin it can be easily washed off thus decreasing the health hazards for operators. Due to these numerous advantages, the demand for powder coatings is considerably high which ultimately propels the growth of the global powder coatings market.

Powder coating is highly environmentally friendly as compared to liquid finishes. Liquid finishes contain solvents that have pollutants known as volatile organic compounds (VOCs) which cause harm to the environment. Powder coating does not contain any solvents and releases negligible amounts of VOC into the atmosphere. Owing to this factor, finishers no longer need to purchase expensive pollution control equipment. Furthermore, powder coating is extremely long-lasting due to which consumers and businesses can save on the cost of retouching the powder coating. Powder-coated surfaces are resistant to fading, scratching, and chipping as well. Therefore these drivers contribute to the growth of the powder coating market.

The numerous benefits associated with powder coating are the biggest driver of the global powder coatings market. Powder coating helps reduce health hazards to operators, the processing time is reduced, and is much more cleaner and efficient to use compared to wet paint. Due to this, the application across end-use industries such as appliances, automotive, general industrial, architecture, and furniture has increased drastically, boosting the overall growth of the global powder coatings market.

The factors which restrain the growth of the global powder coatings market include the European Union financial which has compelled consumers to reduce their spending on consumer goods. The prices of the raw materials used to produce powder coatings are extremely volatile which impacts the pricing of powder coatings. The high cost of powder coatings thus reduces the demand for powder coatings in construction applications, therefore, impacting the growth of the powder coatings market globally.

Covid-19 Scenario:
• Impact on Market Size
• End-User Trend, Preferences, and Budget Impact
• Regulatory Framework/Government Policies
• Key Players Strategy to Tackle Negative Impact
• Opportunity Window

Global Powder Coatings Market Segments:
The global Powder Coatings market is further segmented into resin type, a coating method, end-use industry, and geography.

By Resin Type: Thermoset and Thermoplastic
By Coating Method: Electrostatic Spray, Fluidized Bed
By End-Use Industry: Appliances, Automotive, General Industrial, Architectural, Furniture

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa and South America)

The Asia Pacific dominates the powder coatings market and is expected to witness the highest growth due to the development and growth of the automotive and electronics industries in India, China, Thailand, Taiwan, and South Korea. The Asia Pacific region has a population of approximately 4.3 billion which increases the demand for consumer goods such as refrigerators and washing machines in Vietnam, India, Philippines, Thailand, and China which fuels the demand for powder coating in these applications, thus boosting the growth of the powder coatings market in the Asia Pacific region. Europe is the second-largest dominating region which is attributed to the increasing automobile production in Hungary, Austria, United Kingdom, Germany, and Romania. The presence of some of the largest companies such as Dodge, Daimler- Chrysler, Volkswagen AG, Mercedes- Benz, and Chevrolet contributes to the demand for powder coatings in the European market.

Key Players of Global Powder Coatings Market:
• PPG Industries, Inc
• AkzoNobel N.V
• The Sherwin-Williams Company
• Axalta Coating Systems, LLC
• Asian Paints Limited
• Nippon Paint Holdings Co., Ltd
• BASF SE
• Jotun Group
• RPM International Inc
• Arkema S.A

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Key Questioned Answered Through The Report:
• The Impact of COVID-19 on the global market
• What are the potential opportunities for new entrants in the global market
• What is the market Size and Forecast from 2020 to 2028?
• Key Players associated with the global Powder Coatings Market
• Value Chain Analysis of Global Powder Coatings Market
• What is the CAGR of the global Powder Coatings Market from 2021 to 2028
• Major Growth Factor, Challenges, Trends, and Opportunities in the global market
• Key outcomes of SWOT Analysis

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