Powder Coatings Market Set to Reach $26.89 Billion by 2028, Driven by Durability and Corrosion Resistance

The powder coatings market size has grown strongly in recent years. It will grow from $19.06 billion in 2023 to $20.5 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to durability and corrosion resistance, industrial and manufacturing applications, automotive industry, architectural and building materials.

The powder coatings market size is expected to see strong growth in the next few years. It will grow to $26.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to sustainability and low environmental impact, renewable energy infrastructure, automotive sector expansion, customized and functional coatings. Major trends in the forecast period include technological advancements, smart coatings, nanotechnology integration, bio-based powder coatings.

Market Overview -
Powder coating is a finishing process that keeps the binder and filler parts in a liquid suspension form. Powder coating is a technique that generally involves coating an entity with free-flowing, dry powder electrostatically and then curing it under heat or with ultraviolet light.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=2681&type=smp

Powder Coatings Market Soars As The Construction Sector Flourishes
The increasing demand for the construction sector is expected to propel the growth of the powder coatings market going forward. The construction sector, also known as the construction industry, encompasses a broad range of activities related to the planning, design, construction, renovation, and maintenance of physical structures and infrastructure. Powder coatings are commonly used on architectural elements such as aluminium and steel window frames, doors, railings, and curtain wall systems. They provide a durable, weather-resistant, and attractive finish that enhances the aesthetics of buildings. For instance, in September 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the increasing demand for the construction sector is driving the growth of the powder coatings market.

Competitive Landscape -
Major companies operating in the powder coatings market include AkzoNobel NV, PPG Industries Inc., Sherwin-Williams Company, BASF SE, Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited , Jotun Group, IFS Coatings, Valspar Corporation, Asian Paints Ltd., RPM International Inc., Dulux Powder & Industrial Coating, DuPont de Nemours, Inc., Somar Corporation, Protech Group, Nippon Paint Co. Ltd., Evonik Industries AG, Berger Paints Limited, IGP Pulvertechnik AG, TIGER Coatings GmbH & Co. KG, Cloverdale Paint Inc., Vogel Paint Inc., Hentzen Coating Inc., Alpha Coating Technologies Inc., Ferro arte de mexico sa de cv, TCI Powder Coatings, Prismatic Powders, Precision Coatings Inc., S&B Finishing Co. Inc., Rohner Powder Coating, Pro Powder & Paint Inc., Premier Powder Coating Ltd., Rite-Way Powder Coating Inc., Reliant Finishing Systems

Innovations In Low-Temperature Powder Coating Technology For Heat-Sensitive Substrates
Companies are now focusing on a new coating technology for heat-sensitive substrates such as medium-density fiberboard (MDF). This technology consumes less power as the curing process is done at a lower temperature compared to the conventional method. For instance, IGP-RAPID, released by IGP, is based on new raw materials combined with IGP technology and enables low-temperature powder coatings at 266 °F (130 °C) and curing times of 3 minutes. This technology is ecological, enhances product design, and provides long-term functional protection.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/powder-coatings-global-market-report

Key Segments -
The powder coatings market covered in this report is segmented -
1) By Type: Thermoset, Thermoplastic
2) By Coating Method: Electrostatic Spray, Fluidized Bed
3) By End Userr Application: Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, & Earthmoving Equipment (ACE), General Industrial, Other End-User Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.