According to reports and data, the powder coatings market size will reach USD 19.00 billion at a CAGR of 5.0% by 2030

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Reports and data

The major driving factors of the powder coatings market are the growing demand for medical equipment and the increased use of powder coatings in automotive components

NEW YORK CITY, NEW YORK, USA, May 6, 2022 /EINPresswire.com/ — The Global powder coating market The size is expected to reach USD 19.00 billion in 2030 and register a CAGR of 5.0% over the forecast period, according to the latest report from Reports and Data. Strict regulations against the use of VOC emissions and favorable government initiatives such as the promotion of low-emission coatings are key factors driving the powder coatings market revenue growth. Powder coatings release significantly less volatile organic compounds (VOCs) after coating application, resulting in reduced air pollution, safe storage and handling, and low fire hazard. VOCs are compounds that vaporize at room temperature and are a major source of pollution at ground level. Nitrogen oxides mix with VOCs to form smog, which can irritate the nose, throat, and eyes, as well as cause migraine headaches, memory loss, blurred vision, and cancer in humans.

Manufacturers are typically required to obtain permits and adhere to strict environmental regulations regarding the amount of solvents and VOCs released into the environment. There are no petroleum solvents used in the powder coating manufacturing process, so there are no dangerous VOCs released into the environment. The product complies with environmental regulations, which is expected to drive the market revenue growth.

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Key companies profiled in the global market report include – PPG Industries, Inc., The Sherwin-Williams Company, Akzo Nobel NV, Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited, IFS Coatings, The Valspar Corporation, TIGER Coatings, Kansai Paint Co., Ltd., and BASF SE.

Some highlights of the report

Polyester has good UV resistance and is quite durable. It has other beneficial properties such as chemical resistance, temperature resistance, abrasion resistance, quick drying and surface protection. Polyester-based electrical coatings are used in a variety of applications including radiator grilles, door handles, bumpers, rims, metal structural components and bicycles.
The electrostatic spray coating segment accounted for the largest revenue share in 2020. Electrostatic spray (ES) is a coating method that involves the use of a spray gun to create an electrical charge on powder particles, while that the substrate to be coated is grounded (made neutral). The main purpose of this coating is to protect the underlying material from corrosion. Growing demand for thermoset powder coating across a variety of end-use industries is expected to drive demand for the electrostatic spray coating method.
Home appliance segment is expected to register the highest revenue CAGR during the forecast period. Powder coatings are mainly used to apply to various appliances such as tops and lids of washing machines, air conditioners and water heaters, floor cleaners, doors and shelves of dishwashers, drums of dryer, freezer liners, mixers and mixers, shelves and cabinets, microwave ovens and others. They are commonly used on devices that require a combination of good appearance and resistance to abrasion, chemicals and temperature fluctuations.

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Some recent developments are:

On March 5, 2019, PPG introduced PPG ENVIROCRON Extreme Protective Edge Coatings, which utilize sophisticated patent-pending powder coating technology that provides superior edge corrosion protection in a single coat. This advanced technology, which is precisely formulated to cover sharp edges formed during metal fabrication, outperforms standard one- and two-coat powder systems in coverage.
On July 9, 2019, Akzo Nobel announced plans to add three new production lines to its powder coating facility in Changzhou, China, which is the company’s largest such facility in the world. Additional supplies of metallic powder coatings, acrylic powder coatings and powder primers for the automotive sector will be supported by an investment of $3 million, strengthening Akzo Nobel’s ability to supply more premium products locally made.

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Coating Type Outlook (Revenue, USD Billion; 2019-2030)

Electrostatic spray coating
Fluidized bed coating
Electrostatic fluidized bed process
Flame spray

Substrate Outlook (Revenue, USD Billion; 2019-2030)

Metallic
Non-metallic

Application Outlook (Revenue, USD Billion; 2019-2030)

Consumer goods
Appliances
Architectural
Automotive
General industries
Furniture
Others

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Regional Outlook (Revenue, USD Billion; Volume, Million Tons, 2018-2030)

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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