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Powder Coatings Market to Exhibit a CAGR of 6.8% by 2026; Launch of PPG ENVIROCRON by PPG to Encourage Growth

March 31, 2020 | Chemicals & Materials

The powered coatings market size is predicted to reach USD 15 billion by 2026. The rising awareness regarding environmental pollution to fuel demand for powder coating, which in turn, will accelerate the powered coatings market revenue during the forecast period, mentioned in a report, titled “Powder Coatings Market Size, Share & Industry Analysis, By Resin (Thermoset {Epoxy Polyester, Polyester, Epoxy, Polyurethane, Acrylic, and Others}, and Thermoplastic {Polyvinyl chloride (PVC), Nylon, Polyolefin, and Polyvinyl Fluoride (PVF)}), By Coating Method (Electrostatic Spray, Fluidized Bed, and Others), By Application, and Regional Forecast, 2019-2026” the market stood at USD 8.98 billion in 2018 and is predicted to exhibit a CAGR of 6.8% between 2019 to 2026.


Launch of PPG ENVIROCRON by PPG to Spur Business Opportunities


PPG, an American Fortune 500 company and global supplier of paints, coatings, and specialty materials headquartered in Pittsburgh, announced the launch of PPG ENVIROCRON™ Extreme Protection Edgecoatings. The new product uses a patent-pending, advanced powder coatings technology and delivers exceptional edge corrosion protection in one coat. The lauch of PPG ENVIROCRON™ Extreme Protection Edgecoatings is likely to bolster healthy growth of the market during the forecast period owing to its innovative technology provides coverage that far surpasses standard one-coat and two-coat powder systems and also covers sharp edges created during metal fabrication . Moreover, the prominent players operating in the market are focused on strengthening their position in the market, which in turn, will boost the powered coatings market trend. For instance, in may 2018, AkzoNobel N.V. opened the powder coatings plant in in Changzhou, China. This new plant will strengthen the company’s market position in the powder coatings catering to architectural automotive, and other industries.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/powder-coatings-market-102139


Strict Environmental Regulations to Fuel Demand for Powder Coatings


The increasing awareness regarding environmental pollution among manufacturers and companies is likely to aid expansion of the market. The increasing concerns regarding the environment will create lucrative business opportunities for the market during the forecast period. As manufacturers are required to file for permits and follow strict environmental regulations on the amount of solvent and VOCs emitted into the atmosphere, which in turn, will bode well for the market. Powder coatings offers environmental benefits, and also minimizes the amount of potential hazards.


Moreover, the increasing awareness regarding the benefits of powder coatings will also enable speedy growth of the market. For instance, powder coating has 60% of average transfer efficiency, thus 40% of the powder is not able to adhere to the component. In addition, the recycling properties of powder coating will fuel demand among manufacturers, which in turn, will propel the poweder coatings market growth. For instance, Powder reclamation works better when only one or two primary colors are being used for the products, as multiple color changes boost up equipment costs considerably. If the component is sprayed with one or two colors, then it can significantly help to save the powder by reclaiming the powder.


Focus of Key Players towards Product Enhancement to Boost Market Prospects


The key players in the market are adopting marketing strategies such as merger & acquisition, product development, product expansion to remain at the forefront. The leading companies are also concentrated on introducing novel products, which in turn, will support market growth. For instance, in October 2019,  AkzoNobel N.V. launched Interpon Redox range of powder coatings which provides maximum corrosion protection. These coatings can be used substances such as cable cars, chemical plants, window frames and wind turbines.


The Report Lists the Following Key Companies in the Powder Coatings Market



  • AkzoNobel N.V.

  • PPG Industries, Inc.

  • BASF SE

  • Jotun

  • Axalta Coating Systems, LLC

  • The Sherwin-Williams Company


Further Report Findings:



  • Regional Analysis: The market in Asia Pacific stood at USD 4.21 billion in 2018 and is expected grow rapidly during the forecast period owing to the booming automotive and electronics industry in the region. The increasing environmental concerns in North America will aid growth in the region.

  • Leading Segment: The appliance segment accounted for 20.9% share in the global powder coatings market. The growth of the segment is attributed to the increasing application of Powder coatings in air conditioners & water heaters, clothes washer tops & lids, dishwasher doors & racks, dryer drums, floor cleaners, freezer liners, racks & cabinets, microwave ovens, mixers & blenders, and others.


The Powder Coatings Market is Segmented into:











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD million)



Segmentation



By Resin



  • Thermoset

    • Epoxy Polyester

    • Polyester

    • Epoxy

    • Polyurethane

    • Acrylic

    • Others



  • Thermoplastic

    • Polyvinyl chloride (PVC)

    • Nylon

    • Polyolefin

    • Polyvinyl Fluoride (PVF)





By Coating Method



  • Electrostatic spray

  • Fluidized Bed

  • Others 



By Application



  • Appliance

  • Automotive

  • Architectural

  • Furniture

  • Agriculture, Construction and Earthmoving Equipment

  • General Industries

  • Others



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, South Korea, and Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)



 

Powder Coatings Market
  • PDF
  • 2018
  • 2015-2017
  • 120

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