Powder Coatings Market Size, Share, Trends, and Forecasts 2022- 2030

 

Powder Coatings Market
Powder Coatings Market

A form of coating called a powder coating is applied as a dry, free-flowing powder. Powder coating is often applied electrostatically and then heated or exposed to ultraviolet radiation to cure, as opposed to traditional liquid paint, which is applied using an evaporating solvent. Thermoplastic or thermoset polymers could make up the powder. It is typically employed to produce a hard finish that is more durable than regular paint. Metals like those found in household appliances, autos, bicycle frames, aluminium extrusions, drum hardware, and other objects are typically coated with powder. Due to improvements in powder coating technology, such as UV curable powder coatings, various materials, including plastics, composites, carbon fibre, and MDF (medium-density fiberboard), can now be powder coated to transform these elements.

Powder Coatings market is estimated to be around US$ 12,054.4 Million in 2021 in terms of revenue, exhibiting a CAGR of 6.0% during the forecast period (2022 to 2030).

Over the course of the projected period, developing countries like India, China, Brazil, and Mexico may expect a significant increase in the manufacturing of autos and a boom in the demand for medical gadgets. Additionally, a high product adoption rate in the furniture industry due to its superior performance, low operating costs, availability of colours, and unique qualities including anti-corrosion and anti-bacterial functions would propel market expansion.

Due to the lack of solvents in powder coatings, there is very little VOC emission into the atmosphere, which lowers the risk of combustion during application and storage. Additionally, the powder is easily removed from human skin after coming into contact with it, lowering the risk to workers' health.

The powder coatings market in Asia Pacific is now the largest and one with the quickest growth. The demand is shifting to the Asia Pacific region as a result of economic downturn and market saturation in Europe and North America. This region has the strongest building industry, accounting for over of worldwide construction investment, and powder coating producers are focusing on it. India, China, and Indonesia are making significant investments in a variety of end-use industries, which is likely to have an impact on how quickly the powder coatings market expands in these nations. Along with an increase in income levels, demand is also rising in the area. To meet the need for powder coatings, numerous foreign companies are making investments in the markets of these nations.

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