Powder Coatings Market, by Resin Type (Thermoset, Thermoplastic), by Coatings Method (Electrostatic Spray Coating, Fluidized Bed Coating, Electrostatic Fluidized Bed Process, Flame Spraying), by End-use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Powder coatings market has shown a significant growth from last few years. It is an eco-friendly coating that does not cause any waste during production and consumption, hence making it environment friendly. There is very low or negligible content of volatile organic compounds (VOCs) in powder coatings as compared to liquid coatings, making it a preferred choice across various industries. Powder coating is a ready-to-use product that does not require any mixing procedure or thinner, which rules out any major side-effects to people in contact with it. Rampant growth of various end-use industries such as automotive, architectural, and furniture, among others has in turn fueled growth of the powder coatings market. Increasing technological advancements and stringent environmental regulations, are in turn increasing demand for VOC & solvent free products and are key growth drivers in the global powder coatings market.
Appliance is the largest end-use industry in the global powder coatings market. Powder coatings are widely utilized in appliances used in domestic and commercial applications at homes, hotels, restaurants, corporate offices, and hospitals, among others. Powder coating is a superior coating technology that provides both decoration, and protection to the substrate that it is applied to. These coatings help prevent corrosion, and yellowing, while the appliance industry utilizes these coatings on dryer drums, water heaters, freezer cabinets, light fixtures, air conditioner cabinets, front & side panels of refrigerators, washer lids & tops, in the cavities of ovens & microwaves etc.
Increasing construction activities around the world have in turn increases demand for doorframes, windows, kitchen appliances, furniture, building facades, electrical fixtures, and bathroom fixtures. This has in turn propelled use of powder coatings in the construction industry due to its anti-corrosion & anti-bacterial properties. Increasing preference of auto manufacturers towards the use of powder coatings due to the considerable cost reductions, low operational costs, excellent performance, wide color availability, and other benefits offered by these products has fuelled growth of the powder coating market.
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