Powder Coatings Market Share, Growth | Global Report
Increasing application of powder coatings in the consumer goods and automotive industry
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Powder Coatings Market
Powder Coatings Market is anticipated to witness a promising boom over the forecast period, owing to their remarkable advantages which include reduced operating costs, minimum VOC emissions, and uniform thickness. Accelerating per-capita income, infrastructural development, and growing demand for medical devices is forecast to drive the overall market.
Increasing application of powder coatings in the consumer goods and automotive industry aided by their anti-corrosive features to prevent the metallic and non-metallic surfaces stands to be a major factor driving the global powder-coatings market growth. Powder coatings do not have any solvent, thus, resulting in negligible emissions of VOC and reduced combustion risk, propelling the market growth. Strategic government initiatives and strict norms in order to reduce VOC emissions have proliferated the market growth. However, the increasing energy production and investment on machinery is forecast to hamper the Powder Coatings Market size.
Application – Segment Analysis
Consumer goods application is likely to lead the market in the coming years, owing to the growing urban population, improving living standards, and upliftment in purchasing power. In addition, powder coatings are more tangible than traditional liquid coatings, solvent-free, and comply with environmental norms, which fuels the segment’s size.
Regional – Segment Analysis:
Asia-pacific is estimated to dominate the market over the forecast period, owing to the infrastructural development across China and India and growing environmental concerns. Further, the abundance of cheaper and trained professionals and increasing adoption of powdered coatings in electrical instruments, engine blocks, and suspension will propel the market size.
In 2021, Akzo Nobel N.V. launched a new research and development lab dedicated to low cure powder coatings. This strategic initiative was intended to help the company in the facility expansion which is anticipated to surge the growth of the company.
Powder Coatings Market Segmentation:
Coatings Market by Powder Coatings Market by Type
Hybrid Power Coatings
Powder Coatings Market by Method
Powder Coatings Market by Application
Building and Construction
Powder Coatings Market by Region:
Rest of APAC
United States of America
Rest of Europe
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