Powder Coating Market to Exceed USD 17 Bn by 2025: Global Market Insights, Inc.
Latin America powder coatings market demand is projected to cross 250 kilo tons by 2025 on account of strong growth in furniture industry in Mexico, as numerous companies have shifted certain segments of their production operations in the country.
SELBYVILLE, Del., October 17, 2019 (Newswire.com) - Global powder coating market is poised to witness significant growth from 2019 to 2025 owing to environment-friendly properties, cost effectiveness, high quality, swift paint applicability, and easy usability over conventional paints. These coats are solvent-free and have minimal volatile compounds emissions compared to liquid paints. It provides a long-lasting and durable finish for metal products & parts and also exhibits superior gloss retention. Factors such as high corrosion resistance, easy recycling and reduced processing time will also influence product demand.
Various technical advantages over liquid paintings coupled with low VOCs emissions will support the powder coating market value over the forecast timeframe. Ability to produce much thicker coatings than conventional liquid form without sagging or running will support the application scope across various industries. Faster curing time and wide range of specialty effects have proliferated the product scope across numerous applications including door handles, rims, and under hood components in light of superior finish and texture.
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Thermoplastic resin powder coating market demand is anticipated to witness CAGR over 6.5% owing to key benefits including better chemical resistance, thicker coating, and low toxicity. It also offers a good amount of resistance to disparity amongst the environmental forces and does not require any cross-linking or curing to achieve these properties. Thermoplastic resins owing to eco-friendly properties, easy recyclability and low toxic nature finds application in several industries including construction, automotive, outdoor furniture, oil & gas, and aerospace & defense.
Powder coats in the appliances are generally used in refrigerator doors, shelves, washing machines, dryers, freezers, water heaters, vacuum cleaners, kitchen appliances, microwave ovens, garbage disposals, dishwashers, etc. Appliances require a durable finish and dynamic colors to protect against the damages owing to the everyday use.
The color of the appliance has now become one of the most important factors that influence the purchasing decisions among consumer. As a result, appliances manufacturer to launch products in stylish colors, finishes, and texture combinations. Decorative color and coating styles incorporated ensures low abrasion, better chipping and high chemical resistance.
Strong demand for metallic substrate coats to protect steel, copper and aluminum surfaces form corrosion due to chemicals and moisture fueling powder coating market revenue. Easy applicability on metallic substrate compared to the non-metallic substrate will also support product application scope. The metallic surfaces can be electrically grounded and coated via an Electrostatic Spray Deposition (ESD) process. This process enables uniformity over the substrate material which makes the products more appealing to the eye. Easy availability of wide range of colors, thicknesses, finishes, and textures is anticipated to fuel product sales.
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Latin America powder coatings market led by Brazil and Mexico is projected to exceed 250 kilo tons by 2025. Mexico is expected to witness strong growth in furniture industry, as numerous companies have shifted certain segments of their production operations in the country. The country offers superior logistical solutions while shipping products to target markets such as U.S & Canada and suffer low overhead cost as compared to other overseas destinations.
Key powder coating market players include BASF, Axalta Coating System, AkzoNobel N.V., Asian Paints and Jotun. Manufacturers are continuously focusing on enhancing their visibility by uploading their catalogs on the website and retailing their products through online portals. Also, key manufacturers are hiring industry specialists and investing in capacity expansion to gain a competitive edge.
The manufacturers try to establish direct partnerships with end users to ensure the continuous retail of their products. They also incorporate strategies, such as expanding product portfolio and establishing long term supply chain agreements, to enhance profit margin and gain competitive edge in the market.
Browse key industry insights spread across 650 pages with 570 market data tables and 16 figures & charts from the report, “Powder Coating Market By Resin (Thermoplastic, Thermoset, Fusion Bonded Epoxy), Application (Architectural, Jobbers, Agriculture & Construction Equipment, Pipeline, Oil & Gas, Appliances, General Metal [Outdoor Furniture & Playground Equipment], Automotive & Transportation Components [Wheels]), Substrate (Metallic, Non Metallic), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/powder-coating-market
Table of Contents (ToC) of the report:
Chapter 3 Powder Coatings Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2014- 2025
3.3 Industry ecosystem analysis
3.4 Technology landscape
3.5 Regulatory landscape
3.6 Industry impact forces
3.7 Growth potential analysis, 2018
3.8 Functional powder coatings industry outlook
3.9 Pricing analysis
3.10 Porter’s analysis
3.11 Competitive landscape, 2018
3.12 PESTLE analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/powder-coating-market
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Source: Global Market Insights, Inc.
