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(Transportation-News.com, November 23, 2018 ) Powder Coatings Market Outlook and Research to 2026 – Leading Top Companies are Akzonobel N.V., BASF Coatings GmbH, Berger Paints India Limited, Hempel A/S, Tikkurila OYJ, Valspar Corporation, RPM International Inc, Kansai Paints Co., Ltd., Asian Paints Limited, Nippon Paint Holdings Co., Ltd., Jotun A/S
The major players operating in the global powder coatings market are focusing in product innovation based on the client’s feedback and preferences which includes improved color, appearance and durability of the final product. For example, Axalta has introduced new powder coatings product category exclusively for interior and exterior energy pipelines. In addition, during 2016, Axalta has introduced another new powder coating product called BK08 20 Gloss, that offers improved weather resistance properties and durability. The manufacturers are also focused on geographical expansion to improves their business boundaries. During 2016, Axalta has announced its plan to build a new production hub in Landshut (Germany).
Some of leading industry participants include Akzonobel N.V., BASF Coatings GmbH, Berger Paints India Limited, Hempel A/S, Tikkurila OYJ, Valspar Corporation, RPM International Inc, Kansai Paints Co., Ltd., Asian Paints Limited, Nippon Paint Holdings Co., Ltd., Jotun A/S, Axalta Coating System LLC, Sherwin-Williams Company and PPG Industries.
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Global powder coatings market is expected to grow from USD 9.18 billion in 2016 to USD 16.85 billion by 2026, at a CAGR of 7.0% during the forecast period, according to a study published by Polaris Market Research
Polaris Market Research’s new report indicates that the global paints & coatings market generated USD 169.60 million in 2017 and is anticipated to grow at a CAGR of 6.0% during the forecast period.
Shifting trend towards usage of powder coatings in place of PVDF liquid due to higher utilization rates, easy application and lower impact on environment is expected to boost the global powder coatings market over the forecast period. Due to the heavy impact of volatile organic compounds (VOCs) on the environment, various regulatory bodies and governments have implemented strict regulations on the usage of solvent based conventional coatings, which in turn having an effect on the rising demand of powder coatings.
Various advantages of using powder coatings including better finishing capabilities and lower thickness of films is also boosting the demand for powder coating across the globe. The thickness of films has a significant effect on the production costs, hence the thinner films cause decreased manufacturing costs for specific application areas including automotive parts, coils, and cans among others. For example, PPG industries has launched a product named ENVIROCRON THE, which increases the transfer efficiency for applications such as aluminum extrusion and metal furniture among others.
One of the major factors acting as a restraint for the powder coatings market is the higher maintenance and equipment costs. The hygroscopic nature of powder coatings results in caking, which requires optimum storage facilities which increases the storage cost as well.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Powder Coatings Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada. Europe is divided into Germany, UK, Italy, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
Key Segments:
Resin Type:
• Thermoplastic
• Thermoset
Coating Method:
• Fluidized Bed Coating
• Electrostatic Fluidized Bed Process
• Electrostatic Spray Coating
• Flame Spraying
End-Use Industry:
• Architecture
• Furniture
• Automotive
• Heavy Industry
• Appliances
• Others
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.
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Polaris Market Research
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+1-646-568-9980
neel@polarismarketresearch.com
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