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Thermoset: The fastest-growing resin type segment of the powder coatings market


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.

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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.

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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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