Market Insights and Analysis: Global Powder Coatings Market Overview and Projections (2023-2028)
The Global Powder Coatings market is anticipated to grow at a CAGR of around 5.27% during the forecast period, i.e., 2023-28. This attributes to the wide application of this type of coating in industries such as automotive, furniture, industrial products, appliances, architecture, etc., combined with the expansion of activities in these industries in different regions of the world.
Top leading companies in the Global Powder Coatings Market includes:
PPG Industries Inc., Akzo Nobel N.V., Axalta Coating System, Sherwin-Williams Company, Jotun Group, RPM International Inc., Arkema S.A., Nippon Paint Holdings, IGP Powder Coatings, 3M, Tiger Coatings GmbH Co.KG, Kansai Nerolac Paints Ltd., A I Coatings, Others.
Global Powder Coatings Market Key Driver:
Transition of the Automotive Industry Towards Sustainability - The global inclination towards the adoption of clean green solutions in the aftermath of climate change has been resulting in the growth of the electronic vehicle industry worldwide. Different countries, such as Germany, Brazil, India, etc., have been constantly engaged in building up their capabilities to manufacture electric vehicles. These countries are also taking several initiatives, like financial incentives, tax credits, etc., to raise the adoption rate of such vehicles to reduce the carbon footprint of their countries. Hence, this, combined with the rise in the percentage of environmentally responsible consumers, is pushing the growth of the automotive industry.
Further, continuous technological advancements in the automotive industry to explore different technologies such as lithium batteries, ethanol-blended fuel, and others, as well as the integration of such vehicles with other advanced technologies like renewable energy, would lead to the growth of the automotive industry, thus influencing the demand in the market during the forthcoming period.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Resin Type
-Eopxy
-Acrylic
-Polyurethane
-Polyester
-Polyvinyl Chloride
-Others (Epoxy Polyster Hybrid, Fluropolymer, etc.)
By Method of Coating
-Electrostatic Spray Deposition (ESD)
-Fluidized bed
-Others (Flame Spray, Electrostatic bed fluidized process, etc.)
By Application
-Architectural
-Furniture
-Automotive
-General Industrial (Electrical Power Generation, Machinery, Packaging, etc.)
-Appliances (Consumer Electronics, Home Appliances, etc.)
-Others.
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Global Powder Coatings Market Geographic Reach:
The Geographic Reach of the Global Powder Coatings Market evaluates the spread and significance of Global Powder Coatings market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
- North America: US, Canada, Mexico
- Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
- Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East Africa: Saudi Arabia, The UAE, Egypt, Turkey , Israel, South Africa, Rest of Middle East Africa.
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