Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the powder coatings market provides in-depth analysis
of segments and sub-segments in the global as well as regional powder coatings
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional powder coatings market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global powder coatings market. According
to the report, the global powder coatings market is projected to grow at a CAGR
of around 6.5% over the forecast period of 2022-2028.
The revenue generated by the
market was over USD 13 billion in 2022 and is expected to reach about USD 19
billion in 2028 and is expected to grow with a CAGR of around 6.5% over the
forecast period 2022-2028. Powder coatings are 100% solid coatings that consist
of a homogeneous blend of polymers, pigments, and additives that are produced
in the form of a fine powder. Powder coating is used for dry finishing as its
advantages of high resistance diminish coatings quality and help in reducing scratches, corrosion, chipping, fading, and other wear and tear issues
giving a long-lasting, durable finish and smooth texture to the surfaces. They
are available in a wide range of colors and textures. Due to this, they play a
vital role in protecting metallic and non-metallic substrates. Powder coating
has many other advantages as they are readily available, its operating cost
is low, it gives us a good appearance over the surfaces it has uniform
thickness too, and moreover, it is less harmful to humans.
The rising awareness regarding the
benefits of powder coatings among consumers is the major driving factor for the
market growth. The demand for powder coatings is increasing substantially due
to advanced technologies and increasing requirements from areas such as
automotive, furniture, architecture, agriculture, appliances, earthmoving
equipment, construction, and general industries among others. The use of powder
coating is mainly done in consumer goods as they do not contain solvent and are
highly flexible than liquid coatings. Powder coating is proven to be durable,
corrosion-free, and with high-quality esthetics. Due to its low operational
cost, good performance, color availability, and custom properties like
anti-corrosion and anti-bacterial functions, powder coatings are been highly
used in the furniture sector.
Among the regions, Asia Pacific
accounted for the largest share of the global powder coatings market. With its
anti-corrosion and anti-bacterial properties, low operational cost, good
performance and there is rapid growth in the automotive and electronics sector,
the powder coatings market is majorly driven in the Asia Pacific region.
However, the European region is anticipated to grow at the highest rate in the
global powder coatings market over the forecast period as they have a surging
automobile industry that has a strong manufacturing base of companies in the
region. The growth is attributed to the increasing demand for powder coating in
emerging markets. In addition, the entry of well-known global brands is
expected to propel this regional market during the forecast period.
The report on global powder
coatings market covers segments such as type, and application. On the basis of
type, the sub-markets include water-based coatings, solvent-based coatings,
powder coatings, and others. On the basis of application, the sub-markets
include automotive, steel, architectural, marine, furniture, and consumer
goods.
The report provides profiles of
the companies in the market such as Akzo Nobel India Ltd., Jotun India Private
Limited, Marpol Private Limited, BASF SE, Engineering Co. Pvt. Ltd., Berger
Paints India Limited, Maharani Paints Pvt. Ltd., PPG Asian Paints Private
Limited., Durolac Paints, Inc., and Tulip Paints.
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of powder coatings market. Moreover, the study highlights current
market trends and provides forecast from 2022-2028. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.