Powder Coatings Market Is Expected To See Huge Growth. Latest Research Report, Forecast 2019 – 2025

Powder Coatings Market Is Expected To See Huge Growth. Latest Research Report, Forecast 2019 – 2025

The powder coatings market is expected to witness profitable growth in the coming years as these coatings holds environment-friendly properties, superior quality, cost-effectiveness, swift paint applicability, and ease in use when compared to other traditional paints.

Powder coats are solvent-free and comprise of minimal VOC emissions when compared to liquid paints. They also offers a long-lasting and durable finish for metal products and parts along with exhibiting superior gloss retention. Factors like high corrosion resistance, easy recycling, and reduced processing time has driven the demand for power coating solutions.

According to a report by Global Market Insights, Inc. the powder coatings market is slated to reach USD 17 billion through 2025 supported by several technical advantages over liquid paintings along with low VOC emission levels.

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Here are some of the leading factors projected to drive powder coating industry growth in the years to come:

Preference for thermoplastic resins

Thermoplastic resins will witness robust demand over time supported by its key benefits such as superior chemical resistance, reduced toxicity, and thicker coating. It also renders superior resistance to disparity amongst environmental forces and does not require any cross-linking or curing to gain superior properties.

Due to their eco-friendly nature, low toxicity, and eco-friendliness, thermoplastic resins find use in many industries such as automotive, construction, aerospace, defense, and oil and gas.

Evolving furniture industry of Mexico

Latin America has emerged as a promising market for power coatings, especially in Mexico and Brazil. Improving economic conditions in Mexico has supported the regional furniture industry, as many companies have shifted their production focus to the country owing to the availability of raw materials and cheap labor.

Need for durable paints in appliances

Powder coating is widely used on appliances like dryers, refrigerator doors, freezers, vacuum cleaners, washing machines, water heaters, microwave ovens, dishwashers, and garbage disposals. These appliances require a sturdy finish in dynamic colors to protect against damages in their everyday use.

The color of the appliance has become a main selling point for many products. As a result, many appliance manufacturers aim at launching products in stylish, trending colors, textures, and combinations, further driving the demand for powder coatings.

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Expansion strategies by powder coatings firms

Power coating suppliers are constantly focusing on expanding their product line to gain a competitive edge and increase their revenue scale. Companies are entering into partnerships, mergers, and alliances to meet their growth needs.

Other prominent market players include Asian Paints, BASF, Jotun, and AkzoNobel N.V. These manufacturers are actively investing in R&D to launch advanced products that are reliable, affordable, and environmentally safe.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

 

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