The powder coatings global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Powder Coatings Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The powder coatings market size has grown strongly in recent years. It will grow from $19.06 billion in 2023 to $20.5 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to durability and corrosion resistance, industrial and manufacturing applications, automotive industry, architectural and building materials.
The powder coatings market size is expected to see strong growth in the next few years. It will grow to $26.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to sustainability and low environmental impact, renewable energy infrastructure, automotive sector expansion, customized and functional coatings. Major trends in the forecast period include technological advancements, smart coatings, nanotechnology integration, bio-based powder coatings.
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Scope Of Powder Coatings Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Powder Coatings Market Overview
Market Drivers –
The increasing demand for the construction sector is expected to propel the growth of the powder coatings market going forward. The construction sector, also known as the construction industry, encompasses a broad range of activities related to the planning, design, construction, renovation, and maintenance of physical structures and infrastructure. Powder coatings are commonly used on architectural elements such as aluminium and steel window frames, doors, railings, and curtain wall systems. They provide a durable, weather-resistant, and attractive finish that enhances the aesthetics of buildings. For instance, in September 2021, according to a report published by Oxford Economics, a UK-based economic information services company, the global construction output was $10.7 trillion in 2020, and between 2020 and 2030, it is anticipated to increase by 42%, or $4.5 trillion, to reach USD 15.2 trillion. Therefore, the increasing demand for the construction sector is driving the growth of the powder coatings market.
Market Trends –
Companies are now focusing on a new coating technology for heat-sensitive substrates such as medium-density fiberboard (MDF). This technology consumes less power as the curing process is done at a lower temperature compared to the conventional method. For instance, IGP-RAPID, released by IGP, is based on new raw materials combined with IGP technology and enables low-temperature powder coatings at 266 °F (130 °C) and curing times of 3 minutes. This technology is ecological, enhances product design, and provides long-term functional protection.
The powder coatings market covered in this report is segmented –
1) By Type: Thermoset, Thermoplastic
2) By Coating Method: Electrostatic Spray, Fluidized Bed
3) By End Userr Application: Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, & Earthmoving Equipment (ACE), General Industrial, Other End-User Applications
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Regional Insights –
Asia-Pacific was the largest region in the powder coatings market in 2023. Western Europe was the second-largest region in the global powder coatings market. The regions covered in the powder coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Key Companies –
Major companies operating in the powder coatings market include AkzoNobel NV, PPG Industries Inc., Sherwin-Williams Company, BASF SE, Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited , Jotun Group, IFS Coatings, Valspar Corporation, Asian Paints Ltd., RPM International Inc., Dulux Powder & Industrial Coating, DuPont de Nemours, Inc., Somar Corporation, Protech Group, Nippon Paint Co. Ltd., Evonik Industries AG, Berger Paints Limited, IGP Pulvertechnik AG, TIGER Coatings GmbH & Co. KG, Cloverdale Paint Inc., Vogel Paint Inc., Hentzen Coating Inc., Alpha Coating Technologies Inc., Ferro arte de mexico sa de cv, TCI Powder Coatings, Prismatic Powders, Precision Coatings Inc., S&B Finishing Co. Inc., Rohner Powder Coating, Pro Powder & Paint Inc., Premier Powder Coating Ltd., Rite-Way Powder Coating Inc., Reliant Finishing Systems
Table of Contents
1. Executive Summary
2. Powder Coatings Market Report Structure
3. Powder Coatings Market Trends And Strategies
4. Powder Coatings Market – Macro Economic Scenario
5. Powder Coatings Market Size And Growth
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27. Powder Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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