Global Powder Coatings Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
12 Oct, 2021
The powder coatings market consists of sales of powder coatings. Powder coating is a finishing process and keeps the binder and filler parts in a liquid suspension form.
Global Powder Coatings Market Size And Drivers:
The global powder coatings market is expected to grow from $22.11 billion in 2020 to $24.39 billion in 2021 at a compound annual growth rate (CAGR) of 10.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $30.98 billion in 2025 at a CAGR of 6%. Powder coatings release negligible amount of Volatile Organic compounds (VOC) when compared to solvent-based coatings.
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Trends In The Global Powder Coatings Market
Companies are now focusing on a new coating technology for heat sensitive substrates such as medium density fiberboard (MDF). This technology consumes low power as the curing process is done in lower temperature compared to the conventional method. For instance, IGP-RAPID released by IGP are based on new raw materials combined with IGP technology and enables a low-temperature powder coatings at 266°F (130°C) and curing times of 3 minutes. This technology is ecological, enhances product design, and provides long-term functional protection.
Global Powder Coatings Market Segments:
The global powder coatings market is further segmented –
By Type: Thermoset, Thermoplastic
By End-User Application: Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, & Earthmoving Equipment (ACE), General Industrial, Others
By Coating Method: Electrostatic Spray, Fluidized Bed
By Geography: The global powder coatings market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/powder-coatings-global-market-reportPowder Coatings Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides powder coatings market overviews, analyzes and forecasts market size and growth for the global powder coatings market, powder coatings market share, powder coatings market players, powder coatings market segments and geographies, powder coatings market’s leading competitors’ revenues, profiles and market shares. The powder coatings market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.