What Is The Overview Of The Global Epoxy Powder Coatings Market?
Epoxy powder coating is a type of protective finish applied to metal surfaces, made from a mixture of epoxy resins and hardeners formulated into a fine powder. This powder is applied electrostatically to the object's surface and then heated in an oven to cure the coating, resulting in a strong, durable finish. Epoxy powder coating is widely used in various industries due to its resilience and protective qualities.
Epoxy Powder Coatings Global Market Report 2024 provides data on the global epoxy powder coatings market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The epoxy powder coatings market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Expected Annual Growth Rates And Market Size Estimates For The Global Epoxy Powder Coatings Sector?
The epoxy powder coatings market has grown steadily, increasing from $4.02 billion in 2023 to $4.18 billion in 2024, at a CAGR of 3.9%. This growth is driven by the global expansion of automotive production, increasing urbanization, and growing use in electrical and electronic products. The market is expected to grow to $4.91 billion by 2028, at a CAGR of 4.1%. The forecasted growth is attributed to the rise of electric vehicles, stricter environmental regulations, the demand for corrosion protection, and the adoption of sustainable coatings. Major trends include the use of automated and AI-driven systems, advancements in production techniques, and the development of novel formulations for specific applications.
Which Factors Are Boosting Growth In The Epoxy Powder Coatings Market?
The production of electric vehicles is boosting the epoxy powder coatings market. Epoxy coatings provide corrosion resistance and insulation for EV components. The International Energy Agency reported a 35% increase in EV sales in 2023, reaching 14 million units. This surge supports the epoxy powder coatings market.
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What Key Areas Define The Segmentation Of The Global Epoxy Powder Coatings Market?
The epoxy powder coatings market covered in this report is segmented –
1) By Coatings Type: Fusion Bonded Epoxy Coating, Spray Grade Fusion Bonded Epoxy, Other Coating Types
2) By Method: Electromagnetic Brush (EMB) Coating, Electrostatic Spray Deposition, Fluidized Bed Coating
3) By End-User: Automotive, Building And Construction, Industrial, Aerospace And Defense, Marine, Electrical And Electronics, Oil And Gas, Other End-Users
How Are Emerging Trends Reshaping The Dynamics Of The Epoxy Powder Coatings Market?
In the epoxy powder coatings market, companies are focusing on products like zinc epoxy powder primers, known for their excellent corrosion resistance and efficiency. These primers combine zinc particles with epoxy resin to protect metal surfaces and enhance adhesion. In August 2024, US-based PPG Industries launched PRIMERON Optimal, a zinc epoxy powder primer with superior transfer efficiency, meeting high standards for corrosion protection in harsh environments. Its lightweight formula and reduced product requirements offer cost savings and sustainability benefits.
Which Region Has The Fastest Expansion In The Epoxy Powder Coatings Market?
Asia-Pacific was the largest region in the epoxy powder coatings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the epoxy powder coatings marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
