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Surge In Pulse Oximeters, Spirometers Market In Response To Covid-19: An Emerging Driver Transforming The Pulse Oximeters, Spirometers Market Landscape
Pulse Oximeters, Spirometers
What Is the Projected Growth of the Powder Coatings Market?
The powder coatings market has experienced strong growth in recent years. It will grow from $20.51 billion in 2024 to $22.18 billion in 2025, at a CAGR of 8.1%. Factors contributing to this growth include the demand for durability and corrosion resistance, applications in industrial and manufacturing sectors, the automotive industry, and architectural and building materials.
The powder coatings market is set to grow significantly over the next few years, reaching $29.03 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. This growth is expected due to increased focus on sustainability, renewable energy projects, automotive industry development, and demand for specialized coatings. Notable trends include advances in technology, smart coatings, use of nanotechnology, and adoption of bio-based powder coatings.
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What Are the Different Powder Coatings Market 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, And Earthmoving Equipment (ACE), General Industrial, Other End-User Applications
Subsegments:
1) By Thermoset: Epoxy, Polyester, Epoxy-Polyester Hybrid, Polyurethane, Acrylic
2) By Thermoplastic: Polyvinyl Chloride (PVC), Nylon, Polyolefin, Polyvinylidene Fluoride (PVDF)
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What Are the Primary Drivers Shaping the Powder Coatings Market?
The powder coatings market is experiencing growth alongside rising demand from the construction sector. Used on architectural elements like aluminium and steel, powder coatings provide a durable and weather-resistant finish. According to the US Census Bureau, the value of construction operations rose from $2.01 trillion in May 2023 to $2.14 trillion in May 2024, reflecting the increased market demand.
Which Companies Are Leading in the Powder Coatings Market?
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
What Trends Are Expected to Dominate the Powder Coatings Market in the Next 5 Years?
Companies are introducing new coating technologies for heat-sensitive substrates like medium-density fiberboard (MDF) that require lower curing temperatures, making them more energy-efficient. For example, IGP-RAPID, developed by IGP, utilizes new raw materials and advanced technology to enable low-temperature powder coatings that cure at 130°C in just three minutes, offering ecological benefits and long-lasting protection.
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What Are the Top Revenue-Generating Geographies in the Powder Coatings Market?
Asia-Pacific was the largest region in the powder coatings market in 2023. Western Europe was the second-largest region in the global powder coatings market. The regions covered in the powder coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Powder Coatings Market?
2. What is the CAGR expected in the Powder Coatings Market?
3. What Are the Key Innovations Transforming the Powder Coatings Industry?
4. Which Region Is Leading the Powder Coatings Market?
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