19th December 2019 – The global powder
coatings market is likely to gain a significant CAGR in the forthcoming
period. The powder coating process is much identical to the painting process
with the only difference that, the paint material used as powder coating is dry
than liquid. The powder attaches to the parts due to electrostatic charge and
grounding. However, several advantages such as reuse and durability are
achieved with these whereas the downsides demand less levelling, i.e. needs
more peel and curing needs more energy.
The powder coatings market is driven by
market expansion of construction sector and real estate. The need for
aftermarket service in the construction domain is highly prevalent. Jobs like
wall painting, house renovation, and furniture maintenance are likely to result
in high use of powder coatings to fulfill these jobs. Apart from the
residential space, powder coatings find industrial use in the manufacture and
packaging sector. Powder coatings are used in industries to enhance the product
features and give a finer finish.
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Geographical segmentation for powder
coating market includes North America, South America, Europe, Asia-Pacific,
Middle East and Africa. Asia-Pacific’s powder coatings industry is likely to
gain a significant CAGR in the forthcoming period due to the presence of
manufacturing sector and broader use of powder coating for varied applications.
Rise in demand, increasing use in industries and rise in rate of manufacture
are likely to propel the APAC market growth.
North American and European regions are
likely to gain a higher CAGR in the forecast period due to increasing use of
powder coatings for furniture and construction industry. Apart, government
regulations pertaining to manufacture of powder coatings by using eco-friendly
products are likely to pump the powder coatings market growth in the near future.
The key players in the powder coating industry include Asian Paints Limited,
Axalta Coating Systems, Jotun A/S, Berger Paints India Limited, Kansai Paint
Co, PPG Industries Inc, The Valspar Corporation, The Sherwin-Williams Company
and the Somar Corporation.
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