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

Posted on 2022-11-24 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.

Increased disposable income of consumers coupled with the growing population has resulted in an increasing demand for automobiles, furniture, electronics, industrial and household appliances, agricultural equipment and other products. Powder is being used to coat various surfaces such as engine parts, pipes and fixtures, metal parts used in household appliances and other products. Thus, an increased demand of finished goods has led to a growing demand for powder coatings in these countries.

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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Powder Coatings Market – Competitive Landscape

Prominent players in the Powder Coatings Industry are taking advantage of the rapidly increasing demand for the Powder Coatings in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors. Some prominent market developments are as follows:

In April 2022, PPG Industries announced that it had completed the acquisition of the powder coatings manufacturing business of Arsonsisi, an industrial coatings company based in Milan, Italy.
In September 2021, Covestro’s Ultra series of coating hardeners was used by BASF’s Coatings division. As a result, BASF was able to improve its refinish coatings portfolio to meet the strict occupational safety regulations for isocyanate usage.
In May 2021, PPG launched CORAFLON platinum coatings for architectural metals. Compared to standard fluoroethylene vinyl ether coatings, the patented coatings technology provides high transfer efficiency rates of over 20% and improved corrosion resistance. PPG CORAFLON Platinum products are available globally in various colors, glosses, micas, and metallic finishes.
In June 2021, AkzoNobel announced its plan to acquire Grupo Orbis to strengthen its South and Central America position. Depending on regulatory clearances, the acquisition is anticipated to be completed by the end of this year or early in 2022. Pintuco paints and coatings, Andercol and Poliquim (resins), and Mundial (distribution and services) are all part of the deal.

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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