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In-Depth Examination of Segments, Industry Developments, and Key Players in the Acrylic Powder Coating Market
Acrylic Powder Coating Market
Projected Growth and Size of the Acrylic Powder Coating Market
The acrylic powder coating market is expected to reach a valuation of $2.09 billion by 2030, growing at a steady compound annual growth rate (CAGR) of 5.5%. Several factors contribute to this upward trend, including increased production of electric vehicles, stricter sustainability regulations for coatings, continuous improvements in coating formulations, the widening use of these coatings in aerospace, and a growing demand for finishes that offer longer durability. Key trends influencing this market include a shift toward environmentally friendly powder coatings, heightened demand from automotive sectors, expansion in decorative and protective finishes, advances in electrostatic coating methods, and a preference for coatings that provide superior corrosion resistance and durability.
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Top Corporations Driving the Acrylic Powder Coating Industry
The market features prominent companies such as BASF SE, Covestro AG, PPG Industries Inc., Evonik Industries AG, Akzo Nobel N.V., Nippon Paint, DIC Corporation, KCC Corporation, Axalta Coating Systems, Asian Paints Limited, Kansai Paint, Jotun AS, Tiger Coatings, IFS Coatings, Anderson Development Company, Tamiras, ABITL Finishing Inc., Vijay Coat Powder Coatings, and Primco Paints. In a strategic move to strengthen its footprint, Kansai Helios, an Austrian chemical manufacturer, acquired Germany's CWS Lackfabrik GmbH in February 2023. This acquisition enhances Kansai Helios' expertise in powder coatings and synthetic resins, solidifying its role as a full systems supplier. By integrating CWS's capabilities, Kansai Helios plans to increase its competitiveness and market share within the industrial coatings sector.
Current Market Trends Shaping the Acrylic Powder Coating Industry
Leading companies in the acrylic powder coating space are prioritizing the development of advanced products that deliver smooth, high-gloss finishes. Acrylic coating systems, which are protective layers made from acrylic resins, provide durable, weather-resistant, and UV-stable surfaces that enhance aesthetics while safeguarding materials against environmental damage. For example, in July 2024, Akzo Nobel N.V. introduced the Selva Pro range, comprising 2K polyurethane and acrylic coating systems. This lineup includes Selva Pro Chiaro and Selva Pro Bianco (polyurethane systems) as well as Selva Pro Acrilico (an acrylic system). The Selva Pro Acrilico system is designed to highlight natural wood grain beauty with a smooth finish and offers various topcoat options including pigmented, neutral, clear, and a modern dead flat finish called 'Naturale.' The neutral topcoat variant also boasts excellent tinting stability when paired with a neutral base, aligning with current design preferences.
View the full acrylic powder coating market report:
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Diverse Segment Breakdown of the Acrylic Powder Coating Market
This market report segments the acrylic powder coating industry as follows:
1) By Type: Thermoplastic Acrylic Powder Coatings and Thermosetting Acrylic Powder Coatings
2) By Technology: Electrostatic Spray, Fluidized Bed, and Electrostatic Fluidized Bed
3) By Formulation: Glossy, Semi-Glossy, Matte, Metallic, and Textured finishes
4) By Chemical Resistance: High, Medium, and Low Chemical Resistance coatings
5) By Application: Automotive, Construction, Appliances, and Furniture sectors
Further subcategories include:
- Thermoplastic Acrylic Powder Coatings split into High-Gloss, Matte, and Textured coatings
- Thermosetting Acrylic Powder Coatings divided into Epoxy Polyester, Pure Acrylic, and Hybrid coatings
This detailed segmentation allows for a comprehensive understanding of market dynamics and helps identify areas of growth and innovation within the acrylic powder coating industry.
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