CHICAGO, June 6, 2024 /PRNewswire/ -- The report "Powder Coatings Market by Coating Method (Electrostatic Spray, Fluidized Bed), Resin Type (Thermoset, Thermoplastic), End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture) and Region - Global Forecast to 2029", is projected to reach a market size of USD 20.21 billion by 2029 from USD 15.49 billion in 2024, at a CAGR of 5.5%. Asia pacific is the one of the largest markets for powder coatings. The demand for powder coating is increasing in the sectors such as appliances, architectural, furniture, general industrial, automotive. The demand from emerging nations, such as China, India, Mexico, Indonesia, and Brazil are expected to drive the global powder coating market.
Browse in-depth TOC on "Powder Coatings Market"
556 - Tables
65 - Figures
438 - Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=151375565
Thermoset by resin type segment is expected to register the highest CAGR of the powder coating market during the forecasted period.
In the powder coating market, there are two main types of resins: thermosets and thermoplastics. Thermoset resins, which make up a large portion, offer strong protection against shocks and corrosion for automobile parts, industrial equipment, and household appliances. Meanwhile, thermoplastic resin powder coatings have their own advantages, like good solvency, durability against weathering and wear, a good balance of price and performance, and a nice appearance.
Architectural sector, by application segment, holds the second largest share in the overall polyethyleneimine market during the forecast period.
Architectural coatings cover a range of decorative and practical products like paints, stains, lacquers, primers, and cleaners. In the realm of powder coatings, these applications extend to both interior and exterior coatings, commonly used in homes and commercial buildings. They're applied by professionals and DIY enthusiasts to coat aluminum and steel surfaces for various interior and exterior purposes. The rising use of powder coatings in architecture is driven by their strong durability and the availability of a wide range of finishes and colors.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=151375565
Asia Pacific region is likely to be the fastest growing powder coating market during the forecast period.
The powder coating market experiences substantial growth in the Asia Pacific region, notably in China, India, and various Southeast Asian countries. This growth is fueled by heightened demand resulting from increasing disposable incomes, particularly in regions such as Indonesia and Brazil, leading to greater consumer product, automobile, and furniture demands.
Factors such as significant population expansions further bolster the expansion of the powder coating market. Additionally, the relocation of manufacturing units from North America and Europe to the Asia Pacific, driven by favorable manufacturing conditions and lower raw material and labor costs, serves as a significant driver for the market's growth in this region.
Key Players
Akzo Nobel N.V. (Netherlands), PPG Industries (US), Sherwin-Williams (US), Axalta Coating Systems, LLC (US), and Nippon Paint (Japan), RPM International Inc. are the key players in the global market.
Browse Adjacent Market: Coatings Adhesives Sealants and Elastomers Market Research Reports & Consulting
Related Reports:
Waterborne Coatings Market - Global Forecast to 2030
Epoxy Resin Market - Global Forecast to 2028
About MarketsandMarkets
MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/powder-coatings-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/powder-coatings.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
View original content:https://www.prnewswire.co.uk/news-releases/powder-coatings-market-worth-20-2-billion-by-2029--exclusive-report-by-marketsandmarkets-302165779.html
