Factors, such as technological advancement, ease of application, product development along with increasing consumer spending are among the key aspects driving the powder coatings market growth.
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The Powder Coatings Market is set to grow from its current market value of more than $10 billion to over $16.5 billion by 2024; as reported in the latest study by Global Market Insights, Inc.
Valued for its low ecological impact, powder coatings are widely used in a variety of applications including, architectural, appliances, automobiles, and furniture. Stringent government regulations to control and limit the volatile organic compound emissions will drive the powder coatings market demand.
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Housing subsidies along with socioeconomic development programs by the regional government will positively impact the architectural applications in the developing countries. Other factors such as increased consumer spending on home appliances and improving housing interiors will drive the industry growth in various end-use segments.
Favorable government policies & regulations pertaining to the reduced usage of materials containing toxic chemicals & high VOCs content will boost the powder coatings market growth. For instance, in U.S., as per the industrial surface coating regulation update, Hazardous Air Pollutant (HAP) and Volatile Organic Compound (VOC) content of these materials are respectively supervised at the local, state, and federal levels, thereby maintaining safe level of VOCs and HAP in the environment.
Thermoset resin is anticipated to surpass USD 15 billion over the forecast period. Rising product demand in the electronics industry due to its major properties such as dielectric properties, high-temperature resistance, lightness, and non-toxic nature will augment segment growth. In addition, key usages including coating of metal surfaces to form an attractive and durable finish in automotive components, household appliances, and outdoor furniture will further propel the overall powder coatings market size.
Automotive & transportation components will witness CAGR over 8% in terms of revenue by 2024. An upsurge in the vehicle production coupled with stringent regulations pertaining to high carbon footprint is fueling the demand of powder coatings over automotive wheels and other components, thereby resulting in the significant business expansion. Further, increasing vehicle demand owing to rising disposable incomes and technological advancements in the automotive industry will fuel the powder coatings market share.
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Metallic substrate leads the powder coatings market accounting for over 95% of the powder coating industry share in 2017. These can be used in a wide variety of applications such as automotive components, agricultural & construction equipment, outdoor furniture, HVAC, and electrical. Key features including high thermal resistance to along with the advantage of ease in coating application as compared to other non-metallic surfaces will proliferate the business expansion.
Latin America powder coatings market will observe CAGR over 7% in terms of revenue over projected time period. The automotive and transportation domain is experiencing several transformative shifts that are majorly driven by the economic and technological disruptions thereby influencing the business size.
The powder coatings market share is competitive in nature and majorly occupied by Axalta, AkzoNobel NV, PPG Industries Inc., and Jotun. The key strategies implemented by industry participants include geographical expansions, new product launches, mergers & acquisitions, and R&D investments.
Browse key industry insights spread across 615 pages with 562 market data tables & 16 charts & figures from the report, “Powder Coatings Market Size By Resin (Thermoplastic, Thermoset, Fusion Bonded Epoxy), By Application (Architectural, Jobbers, Agriculture & Construction Equipment, Oil & Gas, Appliances, General Metal [Outdoor Furniture & Playground Equipment], Automotive & Transportation Components [Wheels]), By Substrate (Metallic, Non Metallic), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Netherlands, Russia, China, India, Japan, South Korea, Vietnam, Australia, Indonesia, Thailand, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/powder-coating-market
Glimpse of Table of Content (ToC)
Chapter 3 Powder Coatings Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013- 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor Matrix
3.3.1.1 Raw material suppliers
3.3.1.1.1 Challenges faced by the raw material suppliers
3.3.1.2 Manufacturers
3.3.1.2.1 Challenges faced by manufacturers
3.3.2 Distribution channel analysis
3.3.2.1 Distributors & dealers
3.3.2.2 End-users
3.3.3 Potential customer analysis
3.3.4 Profit margin trends
3.4 Technology landscape
3.5 Regulatory landscape
3.5.1 North America
3.5.1.1 U.S.
3.5.1.1.1 Industrial surface coating regulation update
3.5.1.2 Canada
3.5.1.2.1 Volatile Organic Compound (VOC) concentration limits for architectural coatings regulations
3.5.2 Europe
3.5.2.1 British, European, and International Standards
3.5.2.2 CEPE- Safe Powder Coating Guideline
3.5.2.2.1 Health Hazards Guidelines
3.5.3 Asia Pacific
3.5.3.1 China
3.5.3.1.1 HG/T 3793-2005 – Hot-melt fluorocarbon resin (PVDF) coatings
3.5.3.2 Australia
3.5.3.2.1 Spray painting and powder coating: code of practice
3.5.4 Latin America
3.5.5 Middle East and Africa
3.5.5.1 South Africa
3.5.5.1.1 SANS 1796:2014 – Application of durable organic powder coatings for architectural aluminum
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Increasing construction spending
3.6.1.2 Increasing demand in the automotive, aerospace and marine industry
3.6.1.3 Focus on VOC emissions reduction
3.6.1.4 Strong outlook in the furniture industry
3.6.1.5 Lower application cost as compared to liquid coatings
3.6.2 Industry pitfalls & challenges
3.6.2.1 Higher energy consumption & investment on machinery & tools
3.7 Growth potential analysis, 2017
3.8 Functional powder coatings industry outlook
3.8.1 Anticorrosive powder coatings
3.8.2 Antibacterial/ antimicrobial powder coatings
3.8.2.1 Application segments for antibacterial powder coatings
3.8.2.2 Selection of antibacterial(AB)agent
3.8.2.3 Dosage level of silver additive
3.8.2.4 Powder application
3.9 Pricing analysis
3.9.1 Regional pricing
3.9.1.1 North America
3.9.1.2 Europe
3.9.1.3 Asia Pacific
3.9.1.4 Latin America
3.9.1.5 Middle East and Africa
3.9.2 Cost structure analysis, 2017
3.10 Porter’s analysis
3.11 Competitive landscape, 2017
3.11.1 Global company market share analysis, 2017
3.11.2 Top players overview, 2017
3.11.3 Strategy dashboard
3.12 PESTLE analysis
Browse Full TOC @ https://www.gminsights.com/toc/detail/powder-coating-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source URL: https://marketersmedia.com/powder-coatings-market-size-to-rise-at-6-cagr-to-2024/88893489
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Release ID: 88893489
