Powder Coating Market 2022 to 2030 Booming Trends, Share, Growth & Forecast
The use of Powder Coating Market in the automotive sector has surged significantly and is estimated to continue to do so in the coming period. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. The market has the potential to earn up to USD 17,544.5 Million by 2030.
The need for protection from damage, especially for cars, motivates
the growth of the powder coating market share in the coming period. Furthermore,
breakthroughs achieved in enhancing the product quality are estimated to
bolster the powder coating market expansion in the forthcoming period.
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Segmental Analysis
The segmental study of the powder coating market is conducted on the basis of resin
type, coating method, substrate, application, and region. The substrate segment
of the powder coating market consists of non-metal and metal. The resin type
segment of the powder coating market consists of thermoset and thermoplastic. The powder coating market's application segment
consists of consumer goods &
appliances, automotive & transportation, construction equipment, and
architecture & furniture. The coating method segment of the powder
coating market consists of electrostatic fluidized bed process, electrostatic
spray coating, fluidized bed coating, and flame spraying. The region segment of
the powder coating market comprises of Asia Pacific, Europe, North America and
other critical regional markets.
Detailed Regional
Analysis
The powder coating market's regional
evaluation includes Asia Pacific, Europe, North America, and other critical regional markets. The Asia Pacific powder coating market is foreseen to power the powder coatings requirement and offer profitable
chances for the manufacturers working in the industry. The APAC powder
coating market's regional development
of the market can be credited to the augmenting sales and manufacture of
passenger and commercial vehicles. The European powder coating market is anticipated to obtain a distinguished
market share in the assessment period due to the region's rising automobile
manufacture. The North American region's powder coating market is anticipated to collect a momentous market
due to the car sector's growth is expected to make a noteworthy input in evolving
the regional powder coating market.
Competitive
Analysis
The role of innovation is estimated to become even more important
for progress as the market grows. The effect of novelty and effective pricing
policies will help the global market return to an optimal functioning level in
the forecast period. The market is estimated to profit from the contenders'
overall contribution who are having different fortes for growth. The
improvement in trade and distribution policies is further anticipated to
motivate the market's development in the upcoming period. The expansion of
geographical footprint is estimated to tap into undiscovered segments is likely
to have a favorable effect on the market developments. The buoyancy in market
sentiment will act as a tool for future growth. The investment trend in the
market is projected to display a trend of mergers and acquisitions. The role of
government bodies is estimated to be essential to the development of the
market. The presence of online channels is predicted to enhance the market's
advancement in the upcoming years.
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Key Players:
Axalta Coating Systems Ltd (US), Berger Paints India
Limited (India), Nippon Paint Holdings Co., Ltd (Japan), Akzo Nobel N.V.
(Netherlands), Asian Paints PPG Pvt. Limited (India), The Sherwin-Williams
Company (US), DSM (Netherlands), TCI Powder (US), PPG Industries, Inc. (US), BASF
SE (Germany), Jotun (Norway), and Kansai Paint Co., Ltd (Japan).
Industry Updates:
Apr 2021 Akzo Nobel has invested in
coatings application technology from Qlayers. The expertise from Qlayers, opening
up new potentials in industrial coatings, has driven Akzo Nobel to obtain a
stake in the startup. Qlayers' coating technology presents a fully automated result
that is better, more reliable and faster than the physical coating processes
used nowadays in the industry. By eradicating overspray, it is deemed as a
sustainable solution that saves expenses.
Oct 2020 Stardust Powder Coatings, a producer
of powder coatings based in Italy, has confirmed for the first time and with optimistic
results an antiviral coating that can constrain the human Coronavirus NL63. These
coatings can prevent the viruses existing on the metal surfaces around us, such
as furniture and light fittings, thus reducing the danger of the active virus
coming into contact with humans due to a dirty surface.
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