Powder Coatings Market to Grow Two-folds by 2029
Global Powder Coatings Market will grow at a robust growth rate of over 7% between 2019 and 2029 owing to superior properties such as high resistance to abrasion, chipping, and corrosion coupled with efficiency in cost, processing time, and durability.
Powder coating is versatile in nature. It is effectively used in consumer goods such as automobiles, refrigerators, water-heaters, dishwashers, microwaves, and industrial machinery used in manufacturing. Growing demand on the back of increasing purchasing power of consumers in developing economies is cited as the main factor influencing the growth of the powder coatings market during the forecast period.
Epoxy Resin Holds Majority Market Share
Powder coatings manufactured from epoxy resin are garnering increasing consumer traction owing to enhanced protection that this type of powder coating offers against repeated mechanical stress, weather, and wear & tear associated with typical product lifecycles. Epoxy resin based powder coating holds over 30% of the market share, followed by polyester resins which account for more than 1/4th of the market.
Surging preference for high-quality finish and durability of coatings in products will create remunerative growth opportunities for acrylic and resin based powder coating. Acrylic resin is expected to grow at a stellar CAGR of more than 8% through 2029.
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Europe Leads amid Mushrooming Automotive Manufacturing
Europe exhibits a stronghold in global powder coatings market with 30% of the total market value. Accelerating automotive production in Europe aids this majority powder coatings market share.
North America and East Asia follow the European region with a collective market share of more than 47%. Lucrative growth opportunities can be identified in East Asia which will grow at a meteoric CAGR during the forecast period.
Developing East-Asian economies such as India, and China are witnessing an increase in income levels which further thrusts the demand for powder coated products in this region.
Innovation Shapes Competitive Landscape
World Health Organization partnered with the United Nations Environment Program to establish a Global Alliance to eliminate lead paint, a cooperative initiative that aims to eliminate the presence of lead painted products in over 70 countries by 2050.
Initiative such as these have made it crucial for market players to invest in research and development of powder coatings. Manufacturers are introducing innovative products and leveraging automation technologies to forge strategic partnerships with demanding clients.
These factors shape a competitive market for powder coating manufacturers globally. For instance, MixitTM, a cloud-based color retrieval application by Akzo Nobel N.V. offers clients access to over 2 Mn color formulas with accuracy and efficiency offered by their innovative handheld spectrophotometer Automatchic™. As a result in February 2020, Akzo Nobel N.V. announced strategic partnerships with BMW and McLaren, prominent automotive manufacturers for their coating needs.
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Global Powder Coatings Market: In-Depth Assessment on Key Segments
The global powder coatings market is segmented on the basis of resins, application and region.
- Epoxy-Polyester (Hybrid)
- Consumer Goods
- General Industries
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Global Powder Coatings Market – Scope Of The Report
The following report provides forecast and analysis of the global powder coatings market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and volume (Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global powder coatings market along with several macro-economic indicators. This newly published and insightful report on powder coatings sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global powder coatings market.
The report also comprises the study of current issues with end users and opportunities for powder coatings. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of powder coatings manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the powder coatings market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for powder coatings has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous powder coatings manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Powder Coatings Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the powder coatings market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the powder coatings market, which includes global GDP growth rate, various industries growth rate, such as chemical & materials, coatings & adhesives, furniture and others. This report serves as an authentic resource of intelligence on the powder coatings market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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