Global Powder coatings market is valued $9989.83 million in the year 2017 and is expected to grow at a CAGR of 6.08% from 2018 to 2023. The market is growing steadily due to increased adoption of powder coatings in the automobile industry and consumer goods. General metals is having the highest market share in the year 2017 which is valued $2895.3 million and is anticipated to grow with a CAGR of 6.19% from the year 2018 to 2023. APAC is dominating the market with revenue of %4.4 billion in 2017 and expected to grow at a CAGR of 7.43% during 2018 to 2023.
What is Powder coating?
Powder coating is a method of coating a substrate in a polymer powder through directional spray equipment. The big difference between powder coating and wet spraying is that, the wet spray principle requires a carrier or solvent to allow the material to be successfully atomized and transferred from gun to substrate, here the powder is carried out of the spray equipment with low pressure air and is drawn towards the substrate via an electrostatic charge which is induced at the exit of spray equipment.
What are the major applications for Powder coating?
The various end users assessed automotive, consumer goods, electrical and electronics, general industrial and others. Automotive industry uses industrial paint technology as solution from rusting in various parts of the vehicle such as steering wheels, bumpers, engine blocks, shock absorbers, and other parts. These uniform anti-corrosion coatings provides effective base coat for paints, sealers, e-coat and other top coats above the metallic vehicle parts.
General powder coatings fine use in various applications such as drums, barrels, cans, consumer goods, decorative items, ventilation, and conditioning coatings, auto ancillary industry coatings, metal furniture, accessories, connection coatings, and general metal industry coatings.
Market Research and Market Trends of Powder Coatings Market
- Axalta which is a coating company acquired Ellis paint which is prominent in manufacturing industrial and automotive refinish paint. This acquisition will help Axalta to expand their portfolio of innovative and sustainable coatings in both the industrial and refinish segments.
Who are the Major Players in Powder Coatings Market?
The companies referred in the market research report include Akzo Nobel, Axalta Coating Systems, PPG Industries, Sherwin Williams, The Valspar Corporation and 10 others.
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