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Metallic Powder Coating Global Market Analysis, Trends, Growth, Research And Forecast 2033
Metallic Powder Coating Global Market Analysis
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According to The Business Research Company's, The metallic powder coating market size has grown strongly in recent years. It will grow from $2.22 billion in 2023 to $2.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to the rise of automotive manufacturing, increased focus on corrosion resistance, the push for environmentally friendly coatings, and the demand for high-quality aesthetic finishes in various industries.
The metallic powder coating market size is expected to see strong growth in the next few years. It will grow to $3.15 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to increasing demand for environmentally friendly coatings, growth in the automotive and construction industries, rising consumer preference for aesthetic finishes, and stringent regulations on volatile organic compounds (VOCs). Major trends in the forecast period include the rise of eco-friendly formulations, automation in application processes, advancements in multi-layer coating systems, and the integration of smart coatings with functionality.
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Market Drivers and Trends:
The increasing production of automobiles is expected to propel the growth of the metallic powder coating market going forward. Automobiles are motor vehicles designed primarily for transporting passengers on roadways, featuring various styles powered by internal combustion engines or electric motors. The production of automobiles is increasing due to rising global demand for personal transportation and the growth of electric vehicles, which are reshaping consumer preferences and driving innovation in the industry. Metallic powder coating in automobile production is used to enhance durability, and corrosion resistance and provide a premium metallic finish to vehicle components. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based lobbying and standards group, in 2022, global production of motor vehicles reached 85.4 million, marking a 5.7% increase from 2021. Therefore, the increasing production of automobiles is driving the growth of the metallic powder coating market.
Major companies operating in the metallic powder coating market are focusing on developing advanced coating solutions such as superdurable low-energy powder coatings to enhance finish quality, durability, and resistance to environmental factors. Superdurable low-energy powder coatings are advanced coatings that offer enhanced durability and environmental resistance while curing at lower temperatures, reducing energy consumption and production costs. For instance, in September 2024, AkzoNobel NV, a Netherlands-based paint and coating manufacturing company, launched the Interpon D2525 Low-E range, a series of superdurable low-bake powder coatings designed to protect architectural surfaces in harsh environments. These innovative coatings can be cured at lower temperatures (as low as 150°C), resulting in up to 20% energy savings and 25% faster curing times compared to conventional powders. The Interpon D2525 Low-E coatings are ideal for a variety of metal surfaces, including facades, windows, and railings, offering excellent durability and color retention.
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Major Key Players of the Market:
The Sherwin-Williams Company, PPG Industries Inc., Axalta Coating Systems LLC, Jotun Powder Coatings, Berger Paints India Limited, Delight Polymers Pvt Ltd., Beckers Group, PEKO Precision Products Inc., HMG Paints Ltd., Tradeindia, Primatek Coatings OÜ, Protech Group, Prismatic Powders, Technical Glass and Aluminium LLC, Aajjo, All-Color Powder Coating Inc., Archello, Crescent Bronze Powder Co, Nivera Paints, Prism Coating Powder, Ritver Paints and Coatings, SendCutSend LLC, TCI Powder, Tulip Paints, Value Added Coating Solution Private Limited, Zigma Paints Pvt Ltd
Metallic Powder Coating Market 2024 Key Insights:
• The metallic powder coating market size is expected to see strong growth in the next few years. It will grow to $3.15 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Rising Automobile Production Fuels Demand For Durable Coating Solutions
• Energy-Efficient Superdurable Low-Bake Powder Coatings For Enhanced Surface Protection
• Asia-Pacific was the largest region in the metallic powder coating market in 2023
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