LONDON, May 5, 2023 /PRNewswire/ -- Key Takeaways-
- This powder coatings market is anticipated to amplify with a CAGR of +7% over the assessment timeline.
- The market will be influenced by two major factors - the imposition of stringent regulations aimed at reducing VOC emissions and the encouragement of the use of powder coatings through government initiatives.
- Asia Pacific and North America to dominate the market in terms of revenue share.
- Lower VOC emissions compared to liquid paints offer a strong business opportunity for market players, as they can comply easily as well as economically with the regulations of the U.S. Environmental Protection Agency.
Get Sample of Report@ https://brandessenceresearch.com/downloadSample/PostId/2390
Competitive Hierarchy
The powder coatings market is dominated by a limited number of international players holding a significant share and numerous local players operating in individual countries. The major players in this market include Axalta Coating Systems LLC, Akzo Nobel NV, PPG Industries Inc., Jotun, and The Sherwin-Williams Company.
Segmental Outlook
- The powder coatings market is divided into various segments based on resin type, end-user industry, and geography.
- The market is categorized by resin type into epoxy, acrylic, polyurethane, polyester, epoxy-polyester, and other resin types.
- Based on the end-user industry, the market is segmented into automotive, architecture and decorative, industrial, and other industries.
Get Methodology @ https://brandessenceresearch.com/requestMethodology/PostId/2390
Region-Wise Outlook
Asia Pacific
The Asia Pacific region held the largest revenue share of the powder coatings market. The growth in infrastructure development in countries like China and India is anticipated to drive the demand for powder coating in architectural applications, such as aluminum extrusions utilized in kitchen windows, building facades, and doorframes. Nevertheless, the preference towards anodized aluminum extrusion is likely to hamper the overall powder coating's demand in architectural applications particularly in the Asia Pacific region in the near future.
North America
The North American market is expected to experience an increase in demand for powder coatings, mainly due to the growing automotive industry and rising concerns over VOC emissions released from coatings used in automobile production.
Elaborating The Key Trends and Dynamics of This Industry
Coatings serve a dual purpose of providing color and texture while also protecting and extending the shelf life of various objects. Powder coatings, in particular, offer several advantages over other types of coatings, including lower operating costs, immediate availability, minimal VOC emissions, consistent appearance, and even thickness. Additionally, they are easy to apply in thick layers, resulting in a smooth and uniform finish.
Major Growth Drivers
The architectural and building market is experiencing rapid growth in the use of powder coatings, largely due to their durability. This growth is further propelled by the expansion of polyester resin technology, particularly in the form of stable, low-gloss formulas, which has created opportunities for powder coating in the architectural market. With a wide range of colors and finishes available, many construction companies are now turning to powder coatings to provide long-lasting exterior finishes for outdoor venues and public works projects.
Challenges
The COVID-19 pandemic has disrupted the production of raw materials used in the manufacturing of coatings and paints. Several major economies in the Asia Pacific region, including Japan, India, China, Thailand, and Singapore, are centers for the paints and coatings manufacturing industry. The pandemic has greatly impacted the supply of these raw materials negatively.
Opportunities
The rising population and increased disposable income of consumers have led to a surge in demand for various products such as furniture, automobiles, industrial and household appliances, electronics, and agricultural equipment. Powder coatings are being widely used to coat surfaces of these products, such as pipes, engine parts, metal parts used in household appliances, and others. Therefore, the growing demand for finished goods has resulted in an increasing demand for powder coatings in these countries.
Restraints
Faraday's cage effect: The application of powder coatings in certain areas, such as inside corners, can be challenging as it may impair the leveling and film flow. In addition, the "Faraday's cage effect" can occur, resulting in a low film thickness in these areas. This effect happens when electrically charged particles are attracted to the nearest point on the surface, causing fewer lines of powder to reach the deeper areas of the surface. As a result, thinner layers are formed in these areas, leading to potential coating defects. To overcome this limitation, solvent coatings such as paints are used to coat the substrate edges where powder coatings cannot be applied. However, this has restricted the growth of the powder coatings market, adversely affecting its growth.
On Special Requirement Powder Coatings Market Report is also available for below region:
- U.S, Canada
- Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
Purchase Copy of Report @https://brandessenceresearch.com/Checkout?report_id=2390
Major Developments
Launches
In August 2022, PPG announced its plan to invest USD 11 million in doubling the manufacturing capacity of its powder coatings factory located in San Juan del Rio, Mexico. With the expansion project expected to be completed by mid-2023, the factory will be capable of meeting Mexico's projected demand for powder coatings.
In May 2022, AkzoNobel Powder Coatings unveiled a new range of ready-to-ship (RTS) powder coatings, primarily targeted towards the North American market. This range incorporates AkzoNobel's well-known powder coating brands, Resicoat and Interpon, and is specifically designed to cater to time-sensitive coating projects.
Acquisitions
In April 2022, PPG Industries acquired the powder coatings division of Arsonsisi, an industrial coatings company headquartered in Milan, Italy. Through this acquisition, PPG gains access to a state-of-the-art, highly automated powder production facility in Italy that is capable of producing both small and large batches of powder coatings.
Partnerships
In April 2021, a subsidiary of the Jababeka Group, PT Jababeka Morotai, partnered with the OISCA International College Foundation (OISCA International) to develop the Morotai Special Economic Zone (KEK) in the North Maluku Province of Indonesia. As part of this collaboration, a World War II monument and supporting facilities will be constructed within the KEK.
Related Reports:
- Anti-Corrosion Coatings Market Forecast 2022-2029: Demand, Business Growth, Opportunity, Application, Cost, Sales, Service, End-Use, Size, Top Manufacturers Analysis - Akzo Nobel N.V., Ashland, Axalta Coating Systems, LLC, BASF SE | Brandessence Market Research
- Aerospace Coatings Market to hit USD 3305.4 million by 2028, says Brandessence Market Research
- Global Coating Resins Market Size Expected to cross USD 58.03 Bn by 2028 says Brandessence Market Research
- Silicone Coatings Market Size is expected to reach USD 9964.3 Million by 2028 | Brandessence Market Research
- Global Optical Coating Market 2023 Future Revenue Projections and Suggest Strong Growth Potential
- Conformal Coating Market Projected to Reach CAGR of 5.82% Forecast by 2028 says Brandessence Market Research
- Coating Equipment Market Size, Analysis, Share, Research, Business Growth and Forecast to 2029
- Craniomaxillofacial Devices Market is to Hit $ 2.44 Billion by 2027, says Brandessence Market Research
- Global Beauty Supplements Market Value is Expected to Reach USD 4.6 Billion by 2028, says Brandessence Market Research
- Global Bioanalytical Services Market Size Expected to cross USD 2 Bn by 2028 says Brandessence Market Research
- Healthcare Specialty Enzymes Market to hit USD 6.84 billion by 2027, says Brandessence Market Research
- Solar Control Window Film Market to be Worth ~$1,203.1 Mn by 2029: Brandessence Market Research
- Biscuit Mix Market Share and Growth Factors Impact Analysis 2022 - 2029 | Report by Brandessence Market Research
- At 7.25% CAGR, Cycle Apparel Market Size is expected to generate a revenue of USD 7.41 Bn by 2029, Globally: Brandessence Market Research
- 3D Cell Culture Market is Growing & will Touch the CAGR of 17.1% by the Year 2029 -Read Full Report | Brandessence Market Research
- The Global Genetic Analysis Market size is expected to reach $22.31 billion by 2028 | Brandessence Market Research
- With 13.87% CAGR, Atopic Dermatitis Market Size to Surpass USD 16.23 Billion by 2028 Says Brandessence Market Research
- Canned Tuna Market Size 2023, SWOAT Analysis and Forecast To 2029 | American Tuna, Bumble Bee Foods, Dongwon Industries, Thai Union Group | Brandessence Market Research
- Global Exoskeleton Market: Industry Trends & Outlook 2023 says Brandessence Market Research
- Global Polyclonal Antibodies Market to Project with +4% CAGR by 2029, says Brandessence Market Research
- Battery Management System Market size is expected to reach ~USD 14 billion by 2028 | Brandessence Market Research
Brandessence Market Research & Consulting Pvt ltd.
Brandessence Market Research publishes market research reports & business insights produced by highly qualified and experienced industry analysts. Our research reports are available in a wide range of industry verticals including aviation, food & beverage, healthcare, ICT, Construction, Chemicals and lot more. Brand Essence Market Research report will be best fit for senior executives, business development managers, marketing managers, consultants, CEOs, CIOs, COOs, and Directors, governments, agencies, organizations and Ph.D. Students. We have a delivery center in?Pune, India?and our sales office is in?London.
Follow Us:?Linkedin ?
M & A Advisory: Merger & Acquisition, and Capabilities
Blog:
Published Reports 2023
What is Market Research?
What is Market Sizing? How to Measure Your TAM, SAM, and SOM
Top Self Driving Car Companies Revolutionizing the Mobility Vertical
The Future is Here: Location Intelligence Companies Leading the Charge
The Rise of Nutraceutical Companies: A New Era in Health and Wellness
Innovative Materials for a Better World: The Top Advanced Materials Companies You Need to Know About
The Future of Medicine: How Biochip Companies are Revolutionizing Healthcare
Bio-Innovations: Meet the Bioreactor Manufacturers Pioneering the Future of Manufacturing
Top Microalgae Companies You Need to Know About in 2023
From Bedside Tables to Waiting Room Chairs: The Best Hospital Furniture Manufacturers in the Business
Unleashing the Power of Neuromodulation: A Close Look at Spinal Cord Stimulation Companies
Top Business Process Management Companies to watch out for in 2023
Top 10 Frozen Potato Companies in 2023
Top 5 Natural Food Colors Companies in Global Market 2023 | Here's Everything need to know About
Everything You Need to Know About The Top 5 Companies Operating in Global mRNA Vaccines and Therapeutics Market
The Rise of DIY Medicine: Exploring the Home Diagnostics Market
Top Activated Carbon Manufacturers in the Global Market 2023
Top 5 Skateboard Companies in Global Market 2023
Top 10 Healthcare Staffing Companies in Global Market 2023
TOP 5 Distributed Antenna System (DAS) COMPANIES 2023
Top 10 Plant-based Meat Companies: growing sustainable, plant-based food industry
Contact:
Mr.?Vishal Sawant?
Email:?vishal@brandessenceresearch.com?
Email:?Sales@brandessenceresearch.com?
Corporate Sales:?+44-2038074155?
Asia Office:?+917447409162
Logo: https://mma.prnewswire.com/media/1392316/BEMR_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/global-powder-coatings-market-an-overview-of-trends-growth-and-opportunities-exclusive-report-by-brandessence-market-research-301817017.html
