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The increasing number of consumer goods companies in Asia Pacific Region, increasing demand from automobile industries, and surge in demand for medical devices are the expected factors to boost the Powder Coating Market growth.
JERSEY CITY, N.J. , June 2, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Powder Coating Market" By Resin Type (Thermostat, Thermoplastic), By End-User (Automotive, General Industrial), By Coating Method (Electrostatic Spray, Fluidized Bed), and By Geography. According to Verified Market Research, Powder Coating Market size was valued at USD 13.05 Billion in 2020 and is projected to reach USD 17.2 Billion by 2028, growing at a CAGR of 4.0% from 2021 to 2028.
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Global Powder Coating Market Overview
The main factor driving the growth of the Powder Coating Market is the rising demand for applications in industries such as automotive, soft furnishings, architecture, general manufacturing, and others. Moreover, technological advances and rising automobile production are other factors imposing a positive approach on market growth. Moreover, the imposition of stringent regulations inspires the use of clean, safe, and sustainable coatings, which has fueled market growth. Furthermore, The regional government's socioeconomic development, combined with housing subsidies, has a beneficial impact on the architectural and decorative sector, essentially supporting industry growth.
Great performance properties, as well as the accessibility of a product in a wide range of colors and textures, drive the Powder Coating Market revenue over the predicted period. The demand is being fueled by a high increasing adoption due to ease of use, lower product prices, and environmental effectiveness leading to the growth of the market globally. The powder coatings industry is undergoing numerous environmental difficulties, with a rising emphasis on meeting state and local wastewater discharge regulatory requirements. Metals, oil and grease, and suspended solids are found in waste streams produced by powder coating operations during the cleaning and pre-treatment stages of their operations. Meeting state and local environmental rules is harder for powder coating manufacturers. Heavy metal contamination in wastewater has been an issue for metal finishing companies that use numerous electroplating processes leading to inhibition of the market.
Verified Market Research has segmented the Global Powder Coating Market On the basis of Resin Type, End-User, Coating Method, and Geography.
Water-Based Coatings Market By Type (Acrylic, Epoxy, Alkyd, Polyester), By Application (Architectural and Industrial), By Geography, Forecast, 2021-2028
Nanocoatings Market By Type (Anti-Fingerprint, Antimicrobial), By Application (Electronics, Energy), By Geography, Forecast, 2021-2028
UV-Cured Coatings Market By Product (Wood, Plastics, Overprints, Conformal Coatings), By Application (Industrial Coatings, Electronic Coatings, Graphic Arts), By Geography, Forecast, 2021-2028
Industrial Wood Coating Market By Product (Waterborne, Conventional Solvent Borne, High Solid Solvent Borne, Powder Coating, Radiation Cured), By Application (Wooden Furniture, Wood Floor, Wooden Outdoor), By Geography, Forecast, 2021-2028
Top 5 Powder Coating Companies: Coating done right by adding color and luster
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