Thermoset resin segment accounted for the largest share of the powder coatings market

Powder Coatings Market Powder Coatings Market by Resin, Coating Method, End-use Industry, and Region - Global Forecast to 2025

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Introduction • The market for powder coatings is projected to grow from USD 15.7 billion in 2020 to USD 21.4 billion by 2025, at a CAGR of 6.3% during the forecast period.

• Browse 289 market data Tables and 93 Figures spread through 228 Pages and in-depth TOC on "Powder Coatings Market“.

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Drivers • Powder coating is recently the most commonly used surface finishing technique. Thermoset powder coatings is the most preferred powder coatings technology for industrial applications; predominantly using epoxies and polyesters.

• Epoxies are preferred for their overall physical properties, while polyesters exhibit better outdoor weathering properties. The resin component in the formulation will largely determine the processing and properties of powder coatings.

• The global powder coatings market is witnessing high growth on account of growing end-use industries and technological advancements.

• The economic growth in developing countries, stringent environmental regulations, and growth in the appliance & automotive industries are also leading to the growth of the market.

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Industry Insights • The appliances industry was the fastest-growing segment in 2018. The industry benefits from the use of powder coating in applications that require combination of appearance and resistance to abrasion, chemicals, and temperature cycling.

• The appliance industry uses powder coatings on front and side panels of ranges and refrigerators, dryer drums, air-conditioner cabinets, washer tops and lids, water heaters, dishwasher racks, freezer cabinets, and cracks of microwave ovens.

• For some applications, pre-coated blank stock is coated and then post-formed in the desired shape.

• The thermoset segment accounted for the largest market share in 2018. These powder coatings are based on lower molecular weight solid resins.

• Subjected to elevated temperatures, these coatings not only melt, flow, and chemically crosslink within themselves but also with other reactive components to form a higher molecular weight reaction product.

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Regional Insight • The Powder Coatings Market in APAC is expected to grow at the highest CAGR during the forecast period.

• Strong growth can be witnessed in powder coatings market in the Asia-Pacific region, especially in China, India, and South-East Asian countries.

• Increase in purchasing power parity and demand from the end-use industries specially appliances and automotive drives the powder coatings market.

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Key Players â–Ş PPG Industries, Inc. (US), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (US), Axalta Coating Systems, LLC. (US), Asian Paints Limited (India), and Nippon Paint Holdings Co., Ltd. (Japan) are the major players in the powder coatings market. Some of the other players operating in the market include BASF SE (Germany), Jotun Group (Norway), and RPM International Inc. (US). â–Ş Akzo Nobel N.V. is a diversified chemical company active in the fields of decorative paints and performance coatings. All the powder coatings products are produced under the performance coatings segment. Akzo Nobel N.V. has a strong customer base and operates in more than 80 countries of Europe, APAC, South America, and the Middle East.

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