Global Powder Coatings Market – Scope of the Report
The following report provides forecast and analysis of the global powder coatings market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and volume (Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global powder coatings market along with several macro-economic indicators. This newly published and insightful report on powder coatings sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global powder coatings market.
Global shift from lead paint to enhanced coating technology will drive the powder coatings market by 2X over the forecast period (2019-2029). Initiatives such as Global Alliance to eliminate lead paint are central to mass-adoption of powder paint by end-use industries. Developing economies with increasing demand from goods such as automotive, home-appliances, and industrial machinery present remunerative opportunities for manufacturers of powder coatings.
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Key Takeaways of Powder Coatings Market Study
- Epoxy based coatings garner more than 30% of total market share when categorized base on resins. This is attributed to the enhanced features offered by epoxy resin based powder coating.
- Acrylic based powder coatings offer gainful future prospects on the back of high-quality finish and durability offered by acrylic resins.
- Europe leads the market with a majority market share of more than 30%. Increasing automotive production is cited as the most visible factor for this growth.
- East Asia and Southeast Asia & Oceania present the most lucrative opportunities with dexterous CAGR of more than 8% through 2029.
- Consumer goods produce maximum demand for powder coating which gives them a market share of over 23%.
- Increasing applications in furniture coating will grow the furniture application segment at a robust CAGR of more than 8%.
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Consumer Awareness Drives Growth
Manufacturers are witnessing multiplying demand for powder coated consumer products. There is an increase in consumer awareness about harmful effects of lead paint and the benefits of powder coating. International organizations such as World Health Organization and the United Nations Environment are propelling the growth of powder coatings by forming global initiatives that aim to eliminate lead painted products.
It is the combination of consumer trends and international initiatives that will grow powder coatings market during the forecast period. Another factor that influences growth is increasing buying potential of consumers which leads to an increase in expenditure for powder coated products. Furniture end-use is specially gaining traction as informed consumers look to buy furniture products with enhanced coating that ensures safety and prolongs product lifecycles.
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