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Powder Coating Market Size Growing at 5.75% CAGR through 2027 | Market Top Manufacturer, Growth, Revenue and Forecast
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How big is powder coating market?
The global powder coating market reached a value of US$ 13.31 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 18.8 Billion by 2027, exhibiting a growth rate (CAGR) of 5.75% during 2022-2027.
What is powder coating?
Powder coating represents high-quality dry finishing methods that involve charging fine particles of paints electro-statically and spraying them on several components to form a uniform layer of coat. The steps used in these procedures include pre-mixing, melting, extrusion, cooling, crushing, classifying, and controlling epoxy, pigments, polyester resins, and brightening agents.
Powder coating methods help in ensuring a polished finishing of various items, protecting machinery from corrosion, fading, scratches, and chipping, maintaining the gloss of products, etc. These techniques are also cost-effective and eco-friendly in nature. As a result, powder coating procedures find extensive applications across numerous sectors, such as agriculture, construction, and earthmoving equipment (ACE), consumer goods, appliances, automotive, architectural, etc.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What are the major drivers of the powder coating market?
The increasing need for non-volatile, organic, and solvent-free coating formulations is primarily driving the powder coating market. Additionally, the launch of green initiative programs by government bodies aimed at promoting the usage of eco-friendly coating substances to minimize the instances of fire hazards is further augmenting the market growth. Besides this, the elevating construction of commercial and residential buildings and the rising utilization of powder coating methods for polishing furniture and consumer electronics are acting as significant growth-inducing factors.
Furthermore, the growing employment of the techniques in the automotive industry for glazing structural components, wheel rims, radiator grills, bumpers, etc. and the inflating investments in research and development (R&D) activities by key market players to develop anti-bacterial coating sprays are expected to stimulate the powder coating market over the forecasted period.
Key Market Segmentation:
The report has segmented the market on the basis of region, resin type, coating method and application.
Breakup by Resin Type:
• Thermoset
o Epoxy
o Polyester
o Epoxy Polyester Hybrid
o Acrylic
• Thermoplastic
o Polyvinyl Chloride (PVC)
o Nylon
o Polyolefin
o Polyvinylidene Fluoride (PVDF)
Breakup by Coating Method:
• Electrostatic Spray
• Fluidized Bed
Breakup by Application:
• Consumer Goods
• Appliances
• Automotive
• Architectural
• Agriculture, Construction and Earthmoving Equipment (ACE)
• General Industries
• Others
Breakup by Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
Who are the major players of the powder coatings market?
• Akzo Nobel N.V.
• Axalta Coating Systems Ltd.
• BASF SE
• Berger Paints India Limited
• Covestro AG
• Evonik Industries AG
• Jotun A/S
• Kansai Paint Co. Ltd.
• KCC Corporation
• Nippon Paint Holdings Co. Ltd.
• PPG Industries Inc.
• RPM International Inc.
• SOMAR Corporation
• The Sherwin-Williams Company
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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