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.

Comments

Post a Comment

Popular posts from this blog

Agricultural Micronutrients Market Growth Accelerated By Increasing Need For Improved Soil Fertility

Image
Agricultural Micronutrients Market Agricultural micronutrients are essential plant nutrients required in small quantities for healthy plant growth and development. Micronutrients such as iron, zinc, manganese, molybdenum, and boron play vital roles in various metabolic functions of crops such as photosynthesis, nitrogen fixation, and enzyme activity. The increasing need to boost crop yields and improve soil fertility has raised the demand for micronutrient fertilizers globally. The growing population and reducing arable land have fueled the need for sustainable agricultural practices, propelling the micronutrients market. The global Agricultural Micronutrients Market is estimated to be valued at US$ 5.19 Bn in 2024 and is expected to exhibit a CAGR of 27.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increasing adoption of precision farming and digital technologies in the agriculture sector is...
Read more

Dairy Alternative Market Expected To Reach USD 26.01 Billion By 2023

Image
Dairy Alternative Market Market Overview: Dairy alternative products are gaining significant popularity due to their numerous advantages. These products are plant-based, making them suitable for individuals with lactose intolerance or those following a vegan diet. They offer similar nutritional benefits as traditional dairy products such as milk, cheese, and yogurt, while also addressing concerns related to animal welfare and environmental sustainability. The growing demand for dairy alternative products among health-conscious consumers is driving market growth. Market Key Trends: One key trend observed in the dairy alternative market is the increasing preference for plant-based milk substitutes. Plant-based milk alternatives such as almond milk, soy milk, and oat milk, among others, are gaining traction among consumers as a healthier and more sustainable option compared to traditional dairy milk. These plant-based milk alternatives offer various benefits such as being lactose-free, c...
Read more

Antimicrobial Additives Market Growth Accelerated By Rising Demand From End-Use Industries

Image
Antimicrobial Additives Market Antimicrobial additives are extensively used in a wide range of end-use industries such as healthcare, packaging, food and beverage, construction, and automotive. These additives help protect various materials from microorganisms such as bacteria, viruses, etc. Some key applications of antimicrobial additives include packaging of food, medical devices, fabrics, flooring, coatings, etc. The ongoing COVID-19 pandemic has further increased the importance of hygiene and sanitation, driving demand for antimicrobial materials from various sectors. The global Antimicrobial Additives Market is estimated to be valued at US$ 3.47 Bn in 2024 and is expected to exhibit a CAGR of 25.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: One of the key drivers of the market's growth is the rising demand for antimicrobial additives from the packaging industry. Packaging manufacturers ...
Read more