Dublin, April 17, 2023 (GLOBE NEWSWIRE) -- The "Powder Coatings Market by Resin Type (Thermoset and Thermoplastic), Coating Method ( Electrostatic Spary, Fluidized Bed), End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture), & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global powder coating market size is projected to grow from USD 14.7 billion in 2022 to USD 19.9 billion by 2028, at a CAGR of 5.2%, between 2023 and 2028.
The powder coatings market is mainly characterized by two main resin types: Thermoset, and thermoplastic.
Powder coatings have significant use in appliances, automotive, architectural, and furniture industries. Many producers are shifting their manufacturing units to Asia Pacific because of the availability of raw materials, low labor cost, and promising government policies in developing markets such as India, Thailand, and Singapore. The global powder coatings market is being driven by economic growth, rising population, increased per capita income, and urbanization.
Architectural industry is estimated to register one of the highest CAGR during the forecast period
Architectural powder coatings are applied to the interior and exterior walls of all types of residential, commercial, industrial, and institutional buildings. Apart from their decorative features, architectural powder coatings also possess some protective features. Powder coating for architectural application include both interior and exterior coatings. These are applied either by professional painters or do-it-yourself (DIY) consumers. Powder coating market in architectural segment is growing because it provide excellent durability and availability of a variety of finishes and colors.
Europe powder coating market is expected to account for the second largest share in 2022
The powder coating market in the Europe is majorly driven by the appliances, automotive, and architectural industry. Europe has the strict norms related to VOC emissions and this helps in the growth of power coating market in the region. the automotive and general industrial sectors are the major end-users of powder coatings in the region. Additionally, there is growing trend towards using powder coatings is the construction sector due to their durability, corrosion resistance, and low environmental impact.
China powder coatings market is projected to account for largest share in 2022
The powder coatings market in the China is driven by the strong emergence of automotive & EV sectors, growing demand from the appliances industry, infrastructural projects, untapped potential in growing economies, and increasing urbanization. The increasing china population, the growing demand for new houses due to the rising number of nuclear families, and the increasing market for consumer goods and automobiles is also fueling the powder coatings market. The market is still in its development due to current massive development projects in this area.
Research Coverage:
This research report provide detailed segmentation of powder coatings market by resin type (thermoset, and thermoplastic), by coating methods (electrostatic spray coating, fluidized bed coatings, and others), by end use industry (appliances, automotive, general industrial, architectural, furniture, and others), and region (North America, Europe, Asia Pacific, the Middle East & Africa, and South America). The report covers detailed information about the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the powder coatings market. A thorough analysis of the major industry players has been conducted to provide insights into their business overview, products, finances; key strategies;. new product launches, mergers and acquisitions, and significant changes affecting the powder coatings market. In order to better position their companies and develop effective go to market strategies, stakeholder will benefit from the competitive landscape and gaining additional insight from this report.
Market Dynamics
Drivers
- Stringent Government Regulations Pertaining to Powder Coatings
- Growth in Various End-Use Industries Powering Market Demand
- Technological Advancements in Powder Coatings for Unique Applications
- Recycling Property of Powder Coatings
Restraints
- Difficulty in Obtaining Thin Films
Opportunities
- Increasing Use of Powder Coatings in Automotive Industry
- Emerging Applications in Shipbuilding and Pipeline Industries
- Growing Demand for High-Performance Fluorine Resin-Based Powder Coatings
- Surging Demand for Powder Coatings in Coil Coating Applications
- Emergence of New Application Methods
Challenges
- Growing Environmental Challenges
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 427 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $14.7 Billion |
| Forecasted Market Value (USD) by 2028 | $19.9 Billion |
| Compound Annual Growth Rate | 5.2% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Powder Coatings Market, by End-Use Industry
7 Powder Coatings Market, by Coating Method
8 Powder Coatings Market, by Resin Type
9 Powder Coatings Market, by Region
10 Competitive Landscape
11 Company Profiles
12 Adjacent and Related Markets
13 Appendix
Companies Mentioned
- 3M
- Akzonobel N.V.
- Anhui Meijia New Material Co. Ltd.
- Arsonsisi S.P.A.
- Asian Paints Limited
- Axalta Coating Systems
- Berger Paints India Limited
- Cardinal
- Cloverdale Paint Inc.
- Cws Powder Coatings Gmbh
- Diamond Vogel
- Emil Frei GmbH & Co. Kg
- Erie Powder Coatings
- Europolveri Spa
- Hentzen Coatings, Inc.
- Iba Kimya A.S.
- Ifs Coatings
- Igp Pulvertechnik Ag
- Jotun A/S
- Kansai Paint Company Limited
- Karl Worwag Lack- Und Farbenfabrik GmbH & Co. Kg
- Kcc Corporation
- Keyland Polymer
- Modern Sak Factory for Powder Paint
- Neokem S.A.
- Nippon Paint Holdings Co. Ltd.
- Powdertech Surface Science
- Ppg Industries, Inc.
- Primatek Coatings Ou
- Protech Group
- Pulver Kimya San. Ve Tic. A.S.
- Pulverit S.P.A.
- Rpm International Inc.
- Somar Corporation
- St Powder Coatings S.P.A.
- Teknos Group Oy
- The Sherwin-Williams Company
- Tiger Coatings GmbH & Co. Kg
- Vitracoat
- Weg
For more information about this report visit https://www.researchandmarkets.com/r/xvzm02
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