The Powder Coatings Market is projected to reach USD 13.49 Billion by 2022, at a CAGR of 6.75% from
2017 to 2022. In this study, 2016 has been considered as the base year for
estimating the market size.
Browse 255 market data tables and 69 figures spread through 233 pages
and in-depth TOC on "Powder Coatings Market by Resin
Type (Thermoset, Thermoplastic), Coating Method (Electrostatic Spray, Fluidized
Bed), End-Use Industry (Appliances, Automotive, General Industrial,
Architectural, Furniture), and Region - Global Forecast to 2022".
Market Dynamics
Drivers
- Stringent government regulations
- Growth in various end-use industries
- Technological advancements
Restraints
- Difficulty in obtaining thin films
Opportunities
- Use of reed sensors in emerging technologies
- Increasing use of powder coating in automotive
industry
- Emerging applications in shipbuilding and
pipeline industries
- Fluorine resin powder coating
- Powder coating applied to coil coating
- Emergence of new application methods
Challenges
- Environmental challenges
Major Market
Developments
- In January 2017, AkzoNobel expanded its powder
coatings facility in Chengdu, Western China. The new site will help the
company to meet growing product demand and also offer a wide range of
powder products to its customers from automotive, construction, furniture,
and IT industries.
- In January 2017, PPG acquired DEUTEK S.A., a
leading Romanian paint and architectural coatings manufacturer. The
acquisition adds the fastest-growing paint brands in Romania, where PPG
has only a small presence in architectural coatings.
- In February 2017, Axalta entered into an
agreement to acquire Century Industrial Coatings (US), a leading
manufacturer of high-performance industrial coatings for structural steel,
oil & gas, rail cars, and other OEM applications. This acquisition
will enable both the companies to have the opportunity to offer their
combined customers an entirely new range of products with best-in-class
service.
The
powder coatings market in APAC is expected to grow at the highest CAGR during
the forecast period. Strong growth can be witnessed in powder coatings market
in the Asia-Pacific region, especially in China, India, and South-East Asian
countries. Increase in purchasing power parity and demand from the end-use
industries specially appliances and automotive drives the powder coatings
market.
Key market players in the Powder Coatings Market
The key players in this market are AkzoNobel
N.V. (Netherlands), Asian Paints Limited (India), Axalta Coating Systems
(U.S.), Berger Paints India Limited (India), Jotun A/S (Norway), Kansai Paint
Co., Ltd. (Japan), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company
(U.S.), The Valspar Corporation (U.S.), and Somar Corporation (Japan).
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