The global powder coatings market size is expected to reach USD 19.00 Billion in 2030 and register a revenue CAGR of 5.0% over the forecast period, according to the latest report by Reports and Data. Strict regulations against use of VOC emissions and favorable government initiatives such as promoting coatings with lower emissions are key factors driving powder coatings market revenue growth. Powder coatings release significantly lower Volatile Organic Compounds (VOCs) post coating application, which leads to reduced air pollution, safe storage and handling, and low fire hazard. VOCs are compounds that vaporize at room temperature and are a major source of pollution at ground level. Nitrogen oxides mix with VOCs to form smog, which can irritate the nose, throat, and eyes, as well as induce migraines, memory loss, vision disturbances, and cancer in humans.
Manufacturers are usually required to get permits and adhere to stringent environmental regulations regarding the amount of solvent and VOCs released into the environment. There are no petroleum solvents used in the manufacturing process of powder coatings, so there are no dangerous VOCs released into the environment. The product complies with environmental regulations, which is expected to drive market revenue growth.
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Major companies profiled in the global market report include PPG Industries, Inc., The Sherwin-Williams Company, Akzo Nobel N.V., Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited, IFS Coatings, The Valspar Corporation, TIGER Coatings, Kansai Paint Co., Ltd., and BASF SE.
Further key findings from the report suggest
- Polyester has a good UV light resistance and is quite durable. It has some other beneficial properties such as chemical resistance, temperature resistance, abrasion resistance, quick-drying, and surface protection. Polyester-based power coatings are used in various applications including radiator grills, door handles, bumpers, wheel rims, metallic structural components, and bicycles.
- Electrostatic spray coating segment accounted for largest revenue share in 2020. Electrostatic Spraying (ES) is a coating method that involves use of a spray gun to create an electrical charge on powder particles, while the substrate to be coated is grounded (made neutral). The main purpose of this coating is to protect the underlying material from corrosion. Growing demand for thermoset powder coating in a variety of end-use industries is expected to drive demand for the electrostatic spray coating method.
- The appliances segment is expected to register highest revenue CAGR during the forecast period. Powder coatings are majorly used for applying on various appliances such as clothes washer tops and lids, air conditioners and water heaters, floor cleaners, dishwasher doors & racks, dryer drums, freezer liners, mixers & blenders, racks & cabinets, microwave ovens, and others. They are commonly utilized on appliances that require a combination of good appearance and resistance to abrasion, chemicals, and temperature fluctuations.
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Coating Type Outlook (Revenue, USD Billion; 2019-2030)
- Electrostatic Spray Coating
- Fluidized Bed Coating
- Electrostatic Fluidized Bed Process
- Flame Spraying
Substrate Outlook (Revenue, USD Billion; 2019-2030)
- Metallic
- Non-Metallic
Application Outlook (Revenue, USD Billion; 2019-2030)
- Consumer Goods
- Appliances
- Architectural
- Automotive
- General Industries
- Furniture
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
- What is the expected year-on-year growth of the during the forecast period?
- What key trends are expected influence revenue growth of the market going ahead?
- Which region is expected to account for largest revenue share over the forecast period?
- Which key companies are profiled in the report?
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