IndustryARC’s research analysts have come up with a report on powder coatings market, covering all the recent developments and circumstances affecting the estimated $10,600 million arcade growing with a CAGR of 6.1%. The study incorporates all the commercial aspects of the commodity’s market size ranging from its end-users industries and regional revenue pockets to an imperative competitive landscape.The report is titled “Powder Coatings Market: By Type of Coatings (Epoxy, Polyester, Polyurethanes, Acrylics and Others); By Coating Method (Spray Coating, Fluidized Bed Coating and Others); By Application (Automotive, Architectural, Appliances, General Metal Finishing, Household appliances & consumer goods, and Others); & Country Analysis -Forecast (2018-2023).”
Owing to the hazardous effects of lead in paints on environment as well as well as individuals coming in contact, several industries have diverted their operations towards an eco-friendly substitute in the form of powder coatings. The analyst of the report identifies several flourishing sectors employing powder coatings, including automotive, architectural, furniture and general industrial.
Browse through 143 slides and an in-depth TOC “Powder Coatings Market (2018 - 2023)”
Global Coatings Market Players- Competitive Landscape:
- Lethal lead constituting paints incredibility has affected the credibility of the powder coatings market to a great extent. The presence of volatile organic compound (VOC) in traditional paints is strongly hindering the market future. Tracing this development, all the powder coatings market players have been rightly capitalizing on the ecological concerns. Some of the major companies referred to in this research report are AkzoNobel NV, PPG Industries Inc., Jotun Powder Coating, Axalta coating systems LLC, Evonik Industries, Asian Paints Limited, The Sherwin -Williams Company, and Kansai Paints Company Ltd. Most of these companies are innovating in the field of industrial finishing that involves paints, plating, and powder coating.
- Kansai Paints Company Ltd.- It is a Japanese, Osaka-based chemical company with products ranging from automotive and industrial to decorative coatings. The company has very well recognized the sheer affluence of coatings powder market and hence its Indian subsidiary, Kansai Nerolac Paints, is all set to acquire the India based pioneer in power coating business Marpol. The company’s range of products include Epoxy Polyester Powder - 6100 Series, Epoxy Powder - 6000 Series, and Pure Polyster Powder - 6200 Series. To deal with powder coatings, one needs to develop an ecological appearance to attract business and customers. To serve the purpose, Kansai Plascon, a subsidiary of Kansai Paint Co., Ltd. has officially launched the world's first anti-mosquito paint in Uganda, with the goal of supporting the country’s efforts of being malaria-free by 2021.
- The Sherwin -Williams Company- One of the global leader in the development, manufacturing, and sale of paint and coatings, recorded net sales of $14,984 million dollars in 2017. To stay ahead of the curve in the fiercely competitive landscape of the paints and coatings market, the company believes in being direct contact with the customers and therefore has 4,267 company-operated stores in the United States, Canada, and the Caribbean. The marketing prodigy can be well asserted by the fact that almost 90% of the entire U.S population lives within a 50-mile radius of a Sherwin-Williams store. In 2016, this market giant opened a new powder plant in Poland with products such as "Powdura Sprint" low-cure technology for engineered wood, and the "Powdura OneCure" dry-on-dry powder coating system. As the interest in powder for wood is growing, the company is also targeting OEM customers within the electronics and heavy equipment segments.
- Axalta Coating Systems- Axalta is a leading global player attentive exclusively on coatings and providing clients with innovative, colorful, and sustainable solutions for light OEM vehicles, commercial vehicles, and refinish applications to electric motors, buildings, and pipelines. Locating the potential of APAC region as a market for powder coatings, which already had 49% market share in 2018, Axalta Coating Systems and the Huangshan Yongjia Group Co. Ltd. inaugurated a joint venture branded as Axalta-Huajia, with six manufacturing plants. Axalta-Huajia located in China produces a wide range of powder coating products to cater the robust China’s industrial growth.
- Asian Paints Limited (APL)- It is India’s leading and Asia’s third largest player operating in 16 countries with 27 paint manufacturing facilities in the world, exceeding $2.5 billion group revenue. With majority of its operation centering in the APAC region, APL along with its subsidiary Asian Paints Industrial Coatings Ltd arrived into an agreement to procure the powder coatings business of Hawcoplast Chemical Ltd and its associates. To penetrate deeper into the thriving powder coatings market size the company commissioned a new powder coating manufacturing facility in Himachal Pradesh, India with an agenda to produce 5,000 MT per annum.
Global Powder Coatings Market- Demand Analysis:
Cumulative health hazards associated with being exposed to lead constituting paints, led towards the partnership between World Health Organization and United Nations Environment Programme to formulate a ‘Global Alliance to Eliminate Lead Paint’. The alliance undertook the assessment of eradicating absolute employment of lead paint in 70 countries by the year 2050, and has been enforcing industries to routine powder coatings process actively in their general metal finishing activities, which is a major application segment growing at a CAGR of 6.1% through to 2025, as per the global powder coating market application outlook.
Wet paintings and spray paints are less durable compared to a dense, long-lasting consistency offered by dry powder coating process. With no drying time involved in powder coating, the process exhibits time efficiency and economical traits. Encouraging government regulations also strokes the powder coatings market with abundant demand.
Powder coatings market is a vital answer to lead paints hazardous environmental effects and health risks associated with it. Owing to its durability and the dense coating, several industries prefer the employment of powder coatings for its operations. As per an acute powder coating market analysis, the sector is poised for exponential growth owing to demands from robust industrial growth catering the global industrialization. Powder coatings are portraying all the required caliber to completely take over the industrial finishing market for good and key players are very well capitalizing over the peculiarities.
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