Powder Coatings Market Is Expected To Reach A Valuation of US$ 15 Bn By 2031

Posted on 2022-10-30 by Fact.MR in Chemicals // 0 Comments

The global powder coatings market expected to reach a valuation of US$ 15 Bn by 2031, rising at a 6% CAGR from 2021-2031.

The powder coatings market has witnessed strong growth owing to superior properties such as high resistance to abrasion, chipping, and corrosion, coupled with efficiency in cost, processing time, and durability.

Who are the key players in the Powder Coatings Market research report ?

PPG industry
Sherwin-Williams Company
Akzo Nobel NV
Axalta coating system
LLC
Jotun A/S

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Key Segments Covered in Powder Coating Industry Research

with resin
- Epoxy Powder Coating
- polyester powder paint
- Epoxy-Polyester (Hybrid) Powder Coating
- Acrylic Powder Coating
- Polyurethane powder paint
- Epoxy polyester powder coating
by application
- Powder paint for consumer goods
- architectural powder coating
- automotive powder paint
- General industrial powder coating
- furniture powder coating

Key Takeaways from Market Study

The global powder coatings market is expected to reach a valuation of US$ 15 Bn by 2031.
Epoxy-based coatings hold more than 30% total market share when categorized based on resins.
Europe leads the global market with a majority market share of more than 30%. Increasing automotive production is cited as the most visible factor for regional growth.
Consumer goods account for maximum demand for powder coatings, with a market share of over 23%.
Increasing application in furniture will expand the segment at a robust CAGR of more than 8%.

“Increasing demand for powder coatings from the automotive & consumer goods sectors to nudge market growth over the coming years,” says a Fact.MR analyst.

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Market Player’s Winning Strategy

Manufacturers are witnessing multiplying demand for powder coated consumer products. Increase in consumer awareness about the harmful effects of lead paint and the benefits of powder coatings is nudging market growth.

Leading companies are focusing on expanding their production capacities and also developing cost-efficient manufacturing processes. Many leading players are also focused on patenting their formulations to strengthen their foothold in the market.

The questions answered in the Powder Coatings report are:

How has the powder coatings market grown?
What are the current and future prospects for global powder coatings by region?
What are the challenges and opportunities of powder coating?
Why is the consumption of powder coatings the highest in the region?
Which year segment is expected to overtake the segment?

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