Expansion in Automotive Sector to generate major opportunities for powder coating market 2025
According to a new report published by Reports Monitor titled, “Global Powder Coatings Market, Growth Opportunities, Innovations and Forecast, 2017-2025,” the Powder Coating market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Powder Coatings is a term which describes the particular process of finish or base. It is a fine particle of polymer and pigment reins which is sprayed electrostatically on the surface and chemically altered with the heat for final finishing.
Increased adoption of powder coatings in the various end-use industries such as appliances, automotive and others has resulted in the market growth. The features such as ability to withstand lower and higher temperatures and, resistance to abrasion, corrosion forms the major factor in increased usage. The favorable government policies regarding the adoption of powder coatings and technological advancements resulting in the environmental friendly products also results as a significant factor in boosting the market growth. However the complexities involved in obtaining thin film coats may result in hampering the market growth.
The Global Powder Coatings Market Professional Survey Report scrutinizes the present scenario and the future growth prospects of the Industry. It covers the market canvas and the growth opportunities in the coming years. The report has been made with an in-depth and detailed analysis along with important inputs from the various industry experts.
The powder coating market is majorly segmented on the basis of resin type, coating method and end-use. On the basis of resin type the market is bifurcated into: thermoset and thermoplastic. Based on the coating method the market is segmented into: electrostatic spray coating, fluidized bed coating, and Flame spraying. Depending upon the adoption in various end use industries the market is segmented into: appliances, automotive, industrial, construction and architectural and others.
The powder coating market is analyzed across: North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East and Africa). Asia Pacific is expected to dominate the market owing to the increased adoption and presence of prominent players in the countries such as China, Malaysia, Singapore and Japan, while North America and Europe is expected to achieve a stable growth in the forecast period.
The key vendors in the smart hospital market are: AkzoNobel N.V. (Netherlands), Asian Paints Limited (India), Axalta Coating Systems (U.S.), Berger Paints India Limited (India), Jotun A/S (Norway), Kansai Paint Co., Ltd. (Japan), PPG Industries, Inc. (U.S.), The Sherwin-Williams Company (U.S.), The Valspar Corporation (U.S.), and Somar Corporation (Japan).
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