Latest News- Powder Coatings Market: Consumer appliances is expected to lead the End-user segment during 2024-2028

The Powder Coatings Market is being driven by Powder coatings have very less long-term cost

The Powder Coatings Market is expected to grow at a CAGR of 5.27% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4460.4 million. The powder coating process provides numerous benefits over conventional liquid coating techniques, enhancing its appeal to various industries. Powder coatings exhibit superior durability, resulting from their resistance to impact, moisture, chemicals, and wear and tear. This durability makes them an optimal choice for high-usage, high-traffic applications. Moreover, the lower environmental impact, faster processing times, and cost savings associated with powder coatings further boost their adoption. Consequently, the expanding utilization of powder coatings in sectors such as furniture and consumer appliances will fuel market expansion throughout the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Consumer appliances
  • Automotive
  • Architecture
  • Furniture
  • Others
• Type
  • Thermoset
  • Thermoplastic
• Geography
  • APAC
    • China
  • Europe
    • Germany
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Powder coatings have very less long-term cost
• Achieves a uniform color tone throughout metal
• Increasing demand for powder coatings from automotive industry

However, the market also witnesses some limitations, which are as follows:

• Difficulty in producing even and thin coating
• Powder coatings leaving orange peel on metal
• Inability to mix different colors in powder coatings

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Market Scope in Powder Coatings Market Research Report

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Research Analysis Overview

The Powder Coatings Market is experiencing growth due to the demand for sustainable and eco-friendly coatings in response to climate change and air pollution concerns. Fossil fuels are being replaced with alternatives like polyurethane resins. Coating technologies such as electrostatic spray, waterborne, radiation-curable, high-solid, and thermoset powder coatings are gaining popularity. Consumers prefer durable and aesthetically pleasing products, leading to increased demand for thermoset and thermoplastic powder coatings, including polycarbonate coatings, over traditional oil and grease-based options.

Market Research Overview

The commodity chemicals market encompasses businesses specializing in the production of industrial and fundamental chemicals, such as plastics, synthetic fibers, films, paints and pigments, explosives, and petrochemicals. Exclusions include companies producing diversified chemicals, agricultural chemicals, industrial gases, and specialty chemicals. Key growth drivers for this market include the escalating demand for plastic packaging. As the most widely utilized material in the packaging sector, plastic's popularity is attributed to its lightweight and corrosion-resistant properties. This demand has fostered continuous innovation, influencing the application of chemicals in the manufacturing of plastic packaging materials. Additionally, environmental concerns, such as climate change and air pollution, have fueled the adoption of alternative coatings like powder coatings derived from polyurethane resins, which offer reduced oil and grease emissions compared to traditional fossil fuel-based coatings. The thermoset coating technology employed in powder coatings further enhances their durability and resistance to wear and tear, making them an attractive choice for various industries.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/