The global powder coatings market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Key factors for the market growth include stringent environmental regulations, advantages of powder coatings over traditional wet paint systems, adoption of the technology in the automotive sector, flourishing construction industry together with rapid economic growth in emerging countries, technological advancements and increasing demand from end user industries, such as architectural, appliances, automotive, furniture, agriculture, construction and earthmoving equipment (ACE). However, factors such as fluctuating raw material prices and difficulty in obtaining thin films are limiting the market growth.
Global powder coatings market segmented on the basis of resin type, coating method, application and region.
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Thermoplastic Dominate the Global Powder Coatings Market
Based on resin type, global powder coatings market segmented into thermoplastic and thermoset. Thermoplastic held considerable market share during forecast period. Thermoplastic powder coating is a type of coating which particules coat metals by melting when it reaches desired temperature and it shows mechanical and chemical strength with cooling. Especially in industrial applications, all metal materials are coated with coating materials before usage because of esthetic, endurance and safety reasons. The most important purpose of this coating method is providing protection against corrosion. As well as corrosion preventing coatings like liquid, powder and PVC or polyurethan generally show low performance and provide poor protection, they spread toxic smoke and solvent vapour environmentally in production process.
Asia Pacific Leads the Global Powder Coatings market
PBI’s global powder coatings market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific accounted for larger revenue share in global powder coatings market with considerable CAGR due to changing lifestyle, growth in transportation infrastructure and rising disposable income. Also, China is the major contributor for the growth of the market in this region as there is an increase in demand for electric home appliances in the country. In addition, North America held considerable market share during estimated period owing to increasing environmental concerns and rising awareness regarding the harmful effects of solvent-based coatings.
Strategic Acquisitions are the key strategies adopted by market players
Global powder coatings market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region. In November 2017, AkzoNobel acquired the Thailand based manufacturer V.Powdertech Co. Ltd., to enhance its product offerings for home appliances, industrial applications, and furniture.
Key player’s profiles in the report are AkzoNobel N.V. (Netherlands), Asian Paints Limited (India), Axalta Coating Systems (US), Berger Paints India Limited (India), Jotun A/S (Norway), Kansai Paint Co.Ltd. (Japan), PPG IndustriesInc. (US), Somar Corporation (Japan), The Sherwin-Williams Company (US) and The Valspar Corporation (US).
Precision Business Insights (PBI) in its report titled “Global Powder Coatings Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
By Resin Type
• Polyvinyl Chloride (PVC)
• Polyvinylidene Fluoride (PVDF)
• Epoxy Polyester Hybrid
By Coating Method
o Electrostatic Spray
o Fluidized Bed
o Agriculture Construction& Earthmoving Equipment (ACE)
o General Industrial
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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