Overview:
Powder Coatings have tremendous scratch resistance, chalking resistance, durability, and recycling properties, which make them suitable for long-lasting, durable, and high-quality finishing. These materials are free from solvents and volatile organic compounds (VOCs), making them environmentally friendly and cost-efficient at the same time. During the survey periods, the Global Powder Coatings Market is projected to reach 06 % annual growth rates after observing the current market trends.
Powder Coatings have found the applications in automotive, furniture, construction & building, and other major industries. As the automotive and building & construction sectors flourish around the world, the demands for Powder Coating is facing a massive surge in demands.As the demands for environmentally friendly materials is rising, the applications of Powder Coating methods are growing at enormous rates, which is helping the market in expanding its share.
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Also, the rise in demands for electronic & electrical products like home appliances and resistance against extreme weather conditions has boosted the market posture. Rigid regulations imposed by the government authorities against hazardous materials is also promoting the market among the end-users.However, certain factors are imposing the challenges for this market like high investment costs, lack of suitability on some materials, and fabricating thin layers. Apart from these negatives, the global market is going through a prosperous era and will continue the same.
Global Powder Coatings Market Segments:
Global Powder Coatings Market is segmented into three parts mentioned below:
Types of Resin: there are two types of resin, namely, thermoset and thermoplastic.
Coating Methods: The coating is done through fluidized-bed and electrostatic spray methods.
End-Users: Automotive, furniture, building & construction, electronics & electrical, and other industries are using powder coatings.
Recent Industry News:
Global Powder Coatings Market has shown impressive results in terms of growth but is still struggling against factors like high investment costs, thin layer fabrication, and its unsuitability for some materials. The market is currently led by the Asia Pacific region and is expected to preserve its lead throughout the period.
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Regional Market Outline:
Global Powder Coatings Market is observed based on Asia Pacific, America, Europe, and The Middle East & Africa.
The primary market for the Powder Coatings is the Asia pacific and will be on the top during the survey period. Factors like demands for environmentally friendly products, expanding automotive industry, rising disposable incomes, growing infrastructural structures, and others are driving the market in this region.
Currently, The American market is the second-largest market with the North American region in the lead. Growing awareness for eco-friendly measures, high per capita incomes, well-established industrial structures, and other factors are the key factors for growth in this region.
The European region is the next market in this tally due to the introduction of rigid regulations, a well-established automotive sector, increasing construction & building activities, and other reasons.
The growth rate in the rest of the markets has also gained pace in recent times due to the rise in construction, growing automotive and other industries.
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