Powder Coatings Market to hit $25.5 Billion by 2032, Says Global Market Insights inc.
Powder Coatings Industry is expected to register 5.9% CAGR between 2023 and 2032 propelled by rising investments in the construction sector.
Selbyville, Delaware, Dec. 06, 2022 (GLOBE NEWSWIRE) — As per the report published by Global Market Insights Inc., the from non-metal substrates is expected to reach over 400 kilotons by 2032. Nonmetallic substrate encompasses objects and materials made of ceramics, plastic, medium-density fiberboard, wood, and glass. Non-metallic coatings are mainly used in decorative coating applications, along with architectural structures and home appliances. The increasing use of non-metallic coatings in electronics can be attributed to their chemical and physical properties. Low thermal and electrical conductivity make these coatings ideal insulators in electronics.
Surging automotive production across European countries
Europe powder coatings market is projected to exhibit over 5.5% CAGR between 2023-2032. Rapidly surging automotive production and increasing consumer demand for high-performance wheels will offer lucrative business prospects to powder coating manufacturers. In recent years, the European government has implemented stringent emission standards and norms such as the Registration, Evaluation, Authorization, & Restriction of Chemicals (REACH). Meanwhile, EU countries such as France, Germany, the UK, Russia, Spain, and Italy have reported significant growth in the automotive sector, thus accelerating the demand for powder coatings for vehicle and vehicle parts.
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Strategic developments to boost powder coatings industry expansion
Jotun Powder Coatings, Kansai Paints, AkzoNobel N.V., Dupont Coating & Color Technologies Group, Asian Paints, BASF, Protech Oxyplast Powder Coating, PPG Industries, RPM International, The Valspar Corporation, Vogel Paint Inc., Dulux Powder & Industrial Coating, Somar Corporation, Marpol, Axalta Coating System, Nippon Paint Co. Ltd., Cloverdale Paint Inc., Hentez Coating Inc., The Sherwin-Williams Company, and Evonik Industries are some of the leading companies in the global powder coatings market. These participants are implementing strategic expansion plans to gain a competitive advantage.
Partial chapters of report table of contents (TOC):
Chapter 5 Global Powder Coatings Market, By Resin
5.1 Key resin trends
5.2 Thermoplastic
5.3 Thermoset
5.4 Fusion bonded epoxy
Chapter 6 By Application
6.1 Key application trends
6.2 Architectural
6.3 Jobbers
6.4 Agricultural/construction equipment
6.5 Pipeline
6.6 Oil & gas
6.7 Appliances
6.8 General metal
6.9 Automotive & transportation components
6.10 Other
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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