Pune, May 28, 2020 (GLOBE NEWSWIRE) -- The global powder coatings market size is projected to reach USD 15 billion by the end of 2026. The increasing product applications will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Powder Coatings Market Size, Share & Industry Analysis, By Resin (Thermoset (Epoxy Polyester, Polyester, Epoxy, Polyurethane, Acrylic, and Others), and Thermoplastic (Polyvinyl chloride (PVC), Nylon, Polyolefin, and Polyvinyl Fluoride (PVF))), By Coating Method (Electrostatic Spray, Fluidized Bed, and Others), By Application, and Regional Forecast, 2019-2026,” the market was worth USD 8.98 billion in 2019 and will exhibit a CAGR of 6.8% during the forecast period, 2020-2027.
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The report states that the value of this market stood at USD 2.73 billion in 2018. The report answers the following questions:
- What are the main factors and trends charting the market’s growth trajectory?
- What are the major obstacles hindering the market growth?
- How are regional developments influencing the market values?
- Who are the top players in the market and how are they aligning their strategies to the needs of the market?
- How has the market been segmented and analysed on the basis of those segments?
Powder coatings are widely used in coatings of metals such as drum hardware, automobile, household appliances, and aluminum extrusions. They are a solvent-free coating that is normally used to create a hard finish to the surface on which they are used. The increasing investment in the production of solvent coatings, driven by the increasing demand for the product across the world will have a huge impact on the growth of the overall market in the coming years.
The presence of several large scale companies will emerge in favor of market growth. The ability of powder coatings to reduce the economic and environmental costs will lead to a wider product adoption across the world. The increasing applications of the products are attributable to the increasing investments in research and development of the product. The cost-effectivity of the product is another factor that has contributed to the growth of the market.
Increasing Number of Product Launches Will Have a Direct Impact on Powder Coatings Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product launches has made the highest impact on the growth of the market. Accounting to the increasing product applications, companies are looking to introduced newer products with improved properties with the aim of acquiring a wider consumer base. In October 2019, AkzoNobel N.V. announced the launch of a new range of powder coatings.
The company introduced the Interpon Redox range of powder coatings; a product that will offer maximum corrosion protection. The company claims that these coatings can be used along with substances such as cable cars, chemical plants, wind turbines, and window frames. AkzoNobel’s latest range of powder coatings will not just help the company establish a stronghold in the market, but will influence the growth of the overall market in the coming years. The report includes a few of the major industry developments of recent times and highlights their importance on the growth of the market.
Browse Summary of This Research Report with Detailed Table of Content: https://www.fortunebusinessinsights.com/powder-coatings-market-102139
Asia Pacific to Emerge Dominant; Widespread Consumption of Condiments to Aid Growth
The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among these regions, the market in Asia Pacific is likely to emerge as the dominant region in the coming years. The stability in economy in several countries across this region, driven by the increasing disposable income, will aid the growth of the regional market. The rise of the automotive and electronics industry in emerging countries such as India and Thailand will contribute to the growth of the market in this region. Increasing environmental concerns will lead to a wider adoption of powder coatings in this region. Besides Asia Pacific, the market in North America will also witness considerable growth in the coming years. As of 2019, the market in North America was worth USD 1.75 billion and this value is projected to increase further in the coming years.
Competitive Landscape:
AkzoNobel N.V. launching New Product Line to Boost Huge Demand
In October 2019, AkzoNobel N.V., a leading manufacturer of powder coatings, announced its launch of new powder coatings, Interpon Redox ranges. The new powder coating protect the surface from massive corrosion and can be used as in several types of industrial products such as cable cars, chemical plants, wind turbines, and window frames. Adoption of strategies such as merger and acquisition, product launches, and partnerships by the companies to maintain market presence is anticipated to drive the growth of the market tremendously during the forecast period.
List of the Companies Operating in the Powder Coatings Market :
- AkzoNobel N.V.
- PPG Industries, Inc.
- BASF SE
- Jotun
- The Sherwin-Williams Company
- Asian Paints Ltd.
- Kansai Nerolac Paints Limited
- TCI Powder
- Berger Paints India Limited
- Axalta Coating Systems, LLC.
- Among others
Quick Buy – Powder Coatings Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/102139
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends in Global Market
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Key developments: Acquisition, Collaboration, Strategic Partnership, and Joint Venture
- Global Powder Coatings Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Resin
- Thermoset
- Epoxy Polyester
- Polyester
- Epoxy
- Polyurethane
- Acrylic
- Others
- Thermoplastics
- Polyvinyl chloride (PVC)
- Nylon
- Polyolefin
- Polyvinyl Fluoride (PVF)
- Thermoset
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Have a Look at Related Research Insight:
Paints and Coatings Market Size, Share & Industry Analysis, By Resin (Epoxy, Acrylic, Polyester, Alkyd, PU, and Others), By Technology (Waterborne, Solvent Borne, Powder Coating, and Others) By Application (Architectural, Automotive OEM, Marine, Coil, General Industries, Protective Coatings, Automotive Refinish, Industrial Wood, and Others), and Regional Forecast, 2019 – 2026
Industrial Coatings Market Size, Share & Industry Analysis, By Resin Type (Epoxy, Alkyd, Acrylic, Polyurethane, Polyester), By Technology (Water based, Solvent based, Powder, High Solids, Others) By End-Use Industry (Packaging, Automotive, Industrial wood, Aerospace, Marine, Rail, Others) and Regional Forecast, 2019-2026
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