The Powder Coatings Market size in 2020 had registered as USD 11.9 billion and is expected to reach a significant growth of 7.2?GR during the forecast period, as per the market demand.
Powder Coating is used as a dry finishing with various advantages like high resistance to diminished coatings quality that reduces scratches, corrosion, chipping, fading, and other wear issues. This powder coating is processed by the finely ground particles of pigment and resin charged electrostatically and sprayed on the grounded parts.
The arrival followed by the COVID-19 outbreak is drastically impacted the global powder coatings market by the lockdowns and disruptions of supply chains. To control the spread of the virus, most emerging countries are implementing lockdowns and stringent rules to maintain social distance by closing public places like restaurants, theatres, colleges and restricting travel. In 2020, according to the report of OICA stands for the Organization Internationale des Constructures d’ Automobiles, 77.62 million vehicles were produced, which is lower by 16% in 2019.
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Due to their high abrasion and anti-corrosive property, the rising application of powder coatings in automotive industries and consumer goods. Due to these factors, powder coatings are prominent, and they play a vital role in protecting metallic and non-metallic substrates. Powder coatings have various advantages, such as immediate availability, lower operating costs, excellent appearance, negligible VOC emissions, and uniform thickness. Moreover, it reduces the health hazards to the operators by washing off quickly when contacted with human skin.
The powder coatings method has been divided into five segments: substrate, resin type, a coating method, application, and region.
Based on Substrate
The global powder coatings market based on the substrate includes metal and non-metal.
Based on Resin Type
The global coatings market based on resin type is classified into thermoset and thermoplastic.
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Based on Coating Method
Based on the coating method, the powder coatings method market is analyzed into fluidized bed coating, electrostatic spray coating, electrostatic fluidized bed process, and flame spraying. In 2018, the electrostatic spray coating method dominated the largest market share of 50%, owing to its majorly used manufacturing processes for its low cost and maintenance.
Based on Application
The powder coatings applications are categorized into various types such as construction equipment, automotive & transportation, and others like consumer goods & appliances, architecture & furniture.
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The rapid growth of the automotive and electronics sector in various countries across the APAC region leads to the maximum powder coatings market share. It offers lucrative opportunities for the key market players to increase the demand for the market. The surging sales and production of passenger and commercial vehicles are boosting this region’s demand and market growth. Due to their superior characteristics like enhancing fuel efficiency and lower emissions, the regional governments related to developing economies prefer powder coatings for lightweight bodies.
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