Powder Coatings Market Growth Analysis With Investment Opportunities For 2024-2033
Powder Coatings Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company’s Powder Coatings Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
LONDON, GREATER LONDON, UK, September 3, 2024 /EINPresswire.com/ -- The powder coatings market has experienced robust growth in recent years, expanding 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.
Strong Future Growth Anticipated
The powder coatings market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Powder Coatings Market
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.
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Major Players And Market Trends
Key players in the powder coatings market include AkzoNobel NV, PPG Industries Inc., Sherwin-Williams Company, BASF SE, Axalta Coating Systems Ltd., Kansai Nerolac Paints Limited.
Major companies operating in the powder coatings market are innovating new technologies for easy availability of coatings across and to increase their profitability in the market. The innovation of online powder coatings website offers resources and information about equipment, systems, supplies, and products for powder coating.
Segments:
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
Geographical Insights: Asia-Pacific Leading The Market
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.
Powder Coatings Market Definition
Powder coating is a finishing process that keeps the binder and filler parts in a liquid suspension form. Powder coating is a technique that generally involves coating an entity with free-flowing, dry powder electrostatically and then curing it under heat or with ultraviolet light.
Powder Coatings Global Market Report2 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Powder Coatings Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on powder coatings market size3, powder coatings market drivers and trends, powder coatings market major players, powder coatings competitors' revenues, powder coatings market positioning, and powder coatings market growth across geographies. The powder coatings market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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