U.S (New York)–The Report Ocean has recently published a new report titled “Powder Coatings Market ” 2023, which outlines the regional and global markets that are predicted to experience significant growth between 2023 and 2031. This extensive research delves deeply into the market’s ever-changing dynamics, value chain analysis, competitive landscapes, investment hotspots, geographical landscape, and significant segments, providing critical insights and valuable information for policymakers, stakeholders, investors, newcomers, and industry professionals. In addition, the report provides a comprehensive examination of the industry’s controls and restraints, as well as information on the global industry’s plans and opportunities. By utilizing this report, individuals in the industry can capitalize on emerging opportunities, develop key strategies, and gain a competitive edge over rivals.
The global powder coatings market is estimated to reach $12,332 million by 2022, with a CAGR of 5.4% from 2016 to 2022. Powder coatings possess significant durability and superior properties such as resistance to scratching, corrosion, abrasion, and chemicals. Powder coatings overspray can be reused leading to maximum utilization and cost cutting. There are no solvents in powder coatings, and therefore they offer maximum compliance with the increasing environment regulations, leading to their increasing acceptance over liquid coatings.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Growing adoption, coupled with government support, is the key driving factor of the market during the forecast period. In addition, technological advancements and growth in application industries, such as appliances, automotive, furniture, and medical, supplement the world market for powder coatings. However, difficulty in applying thin coats may impede the growth, owing to the emergence of any cost alternative product into the market.
Based on the type of powder coatings, the market is segmented into thermoset and thermoplastic. Thermoset polymers are further segmented into resin type, namely epoxy, epoxy polyester hybrid, and acrylic. Thermoplastic is further divided into polyvinyl chloride (PVC), polyurethane, nylon, polyolefin, and polyvinylidene fluoride (PVDF). Technological developments in production processes are likely to lower the cost of production, resulting in reduction in prices for powder coatings. In the year 2015, the thermoset segment occupied more than half of the market share in terms of volume. Based on application, the market is segmented into architectural; appliances; automotive; furniture; agriculture, construction, and earthmoving equipment (ACE); general industrial; and others. Based on the coating method, the market is classified into electrostatic spray and fluidized bed technique.
Geographically, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. In the year 2015, Asia-Pacific occupied the largest share in the global powder coatings market, with China and India as major countries contributing to the growth. Increasing population and rising adoption of solvent-free and volatile organic compound (VOC) free coatings are significant factors leading to the growth of the market in the Asia-Pacific region.
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Companies adopt agreement, product launch, expansion, mergers, and agreements to gain a competitive advantage in this market. For example, in 2015, AkzoNobel established a sixth powder coating manufacturing plant in the Middle East to increase the capacity for Interpon and Resicoat products. This helped it to expand its geographical outreach and distribute its products in the Middle East market.
KEY MARKET BENEFITS:
The report provides extensive analysis of factors that drive or restrict the growth of the world powder coatings market.
The market projections for the period 2014-2022 have been included coupled with the impacting factors.
The report also provides quantitative as well as qualitative trends to assist the stakeholders in understanding the market scenario.
In-depth analyses of key segments of the market demonstrate the consumption pattern of powder coatings for different applications across various end-user industries.
SWOT analysis facilitates the study of internal environment of leading companies for strategy formulation.
Competitive intelligence highlights the business practices adopted by the leading market players across various geographies.
This helped it to expand its geographical outreach and distribute its products in the Middle East market. The key players profiled in the report include BASF SE, AkzoNobel N.V., Kansai Nerolac Paints Limited, Axalta Coating Systems, PPG Industries, Berger Paints, IFS Coatings, Tiger Coatings, The Valspar Corporation, and Sherwin Williams.
POWDER COATINGS MARKET SEGMENTS:
Market by Resin Type
Thermoset
Epoxy
Polyester
Epoxy Polyester Hybrid
Acrylic
Thermoplastic
Polyvinyl Chloride (PVC)
Nylon
Polyolefin
Polyvinylidene Fluoride (PVDF)
Market by Coating Method
Electrostatic Spray
Fluidized Bed
Market by Application
Appliances
Automotive
Architectural
Furniture
Agriculture, Construction, and Earthmoving Equipment (ACE)
General Industrial
Others (Gas Tanks, Pipelines)
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Market by Geography
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
LAMEA
Brazil
Turkey
Africa
Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Benefits of This Market Research:
- Industry drivers, restraints, and possibilities included in the study
- Neutral point of view on the market performance
- Recent enterprise developments and developments
- Competitive panorama and techniques of key players
- Potential and area of interest segments and areas exhibiting promising increase covered
- Historical, current, and projected market size, in phrases of value
- In-depth evaluation of the Market
- Overview of the regional outlook of the Market
Reasons for Buying Acetonitrile Market Report:
- This report gives a forward-looking prospect of various factors driving or restraining market growth.
- It renders an in-depth analysis for changing competitive dynamics.
- It presents a detailed analysis of changing competition dynamics and puts you ahead of competitors.
- It gives a ten-year forecast evaluated on the basis of how the market is predicted to grow.
- It assists in making informed business decisions by performing a pin-point analysis of market segments and by having complete insights of the Market.
- This report helps the readers understand key product segments and their future.
- From 2022 to 2031, All Recent Developments have been covered in this Report.
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