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Metallic Powder Coatings Market Size, Outlook, Prominent Players, Growth, Leading Players and Forecast 2031
Global metallic powder coatings market is flourishing because of an increasing adoption of metallic powder coatings due to its aesthetic appeal, a growing demand for powder coatings as they provide resistance to corrosion, and a rising focus on environment-friendly coatings.
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Report Ocean, a leading strategic consulting and market research firm, in its recent study, estimated global metallic powder coatings market size at USD 1.98 billion in 2022. During the forecast period between 2023 and 2029, Report Ocean expects global metallic powder coatings market size to grow at a significant CAGR of 6.07% reaching a value of USD 2.99 billion by 2029. Major growth factors of global metallic powder coatings market include increasing production of automobiles and surging demand for medical devices. The demand for metallic powder coatings is increasing from various end-use industries, such as automotive, construction, and furniture, due to its excellent properties including high durability, corrosion resistance, and aesthetic appeal. Metallic powder coatings are considered eco-friendly as they contain no solvents or volatile organic compounds (VOCs), which make them a preferred choice for several applications. Also, the development of advanced technology for the production of metallic powder coatings has led to the introduction of new products with improved properties as well as stringent regulations related to VOC emissions and environmental pollution are driving the demand for eco-friendly coatings, including metallic powder coatings. Hence, all these aspects are expected to fuel the expansion of global metallic power coatings market during the forecast period. However, limited availability of raw materials and metallic powder coatings have limited color choices compared to liquid coatings are anticipated to restrain the overall market growth.
Global Metallic Powder Coatings Market - Overview
Metallic powder coatings are a type of coating material made up of finely ground metallic particles that are mixed with a resin and applied to a surface using various methods such as electrostatic spraying or fluidized bed dipping. These coatings offer various advantages, such as high durability, corrosion resistance, and aesthetic appeal. Metallic powder coatings are widely used in various end-use industries, such as automotive, construction, furniture, and appliances. They can be categorized into two types: metallic effect powder coatings and metallic appearance powder coatings. Metallic effect powder coatings create a metallic effect on the surface, while metallic appearance powder coatings provide a true metallic appearance to the surface. The global metallic powder coatings market includes several key players that are actively involved in the production and distribution of these coatings.
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Impact of COVID-19 on Global Metallic Powder Coatings Market
COVID-19 adversely affected the global paints and coatings marketing including metallic powder coatings, disrupting the production of raw materials used in manufacturing. Paint and coatings manufacturing in many major Asian countries, including India, China, Japan, Singapore, and Thailand, was affected as they are major suppliers of these raw materials. For example, China exports a significant amount of resins, which are essential for manufacturing paints and coatings. The shortage of raw materials has led to a decrease in the production of paints and coatings products. In April 2020, various industries, such as private buildings, construction sites, government projects, and automotive businesses that rely on paints and coatings were severely impacted by COVID-19. Retailers are also canceling bulk orders due to the suspension of the market, and end-users are not buying expensive coating technologies like polyurea and polyurethanes from distributors and retailers. The sales of paints and coatings products have been hampered at the distributor level due to the suspension of construction and building activities.
Global Metallic Powder Coatings Market - By Resin Type
By resin type, the global metallic powder coatings market is divided into Epoxy Polyester, Polyester, Epoxy, and Polyurethane segments. The polyester resin segment held the highest share in the metallic powder coatings market. These coatings are created by combining metallic pigments with a powder coating system that uses a polyester resin. They are specifically designed for exterior applications where a high-quality decorative finish is needed, as they provide superior flow and durability. Polyester-based metallic powder coatings also offer additional benefits, such as increased resistance to damage from metal rubbing and fingerprints, as well as Tribo-safe properties. These coatings can be applied to a variety of surfaces.
Competitive Landscape
Major players operating in global metallic powder coatings market include Akzo Nobel N.V., Axalta Coating Systems LLC, BASF SE, Berger Paints India Limited, Jotun Group, Kansai Paint Co. Ltd., Nippon Paint Holdings Co. Ltd., PPG Industries Inc., The Sherwin-Williams Company, RPM International Inc., TIGER Coatings GmbH & Co. KG, The Valspar Corporation, IFS Coatings, KCC Corporation, NOROO Paint & Coatings Co. Ltd., and Protech-Oxyplast Group. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Metallic Powder Coatings Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Metallic Powder Coatings Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Content
Chapter 1: Global Metallic Powder Coatings Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Metallic Powder Coatings market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Metallic Powder Coatings Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Metallic Powder Coatings market Size Forecast (2023-2030).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Metallic Powder Coatings market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Metallic Powder Coatings market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Metallic Powder Coatings market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Metallic Powder Coatings business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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