NEW YORK, Aug. 19, 2023 /PRNewswire/ — The powder coatings market is estimated to grow at a CAGR of 5.2% between 2022 and 2027. The market size is forecast to increase by USD 4,191.98 million, according to Technavio – download a sample!
Powder Coatings Market Insights –
- Companies: 15+, Including Akzo Nobel NV, American Powder Coatings Inc., Arkema Group, Asian Paints Ltd., Axalta Coating Systems LLC., BASF SE, Berger Paints India Ltd., Covestro AG, FERRO South Africa PTY LTD., Fortunecoat Industries Pvt. Ltd., Jotun AS, Kansai Paint Co. Ltd., Keyland Polymer Material Sciences LLC, Liberty Coatings LLC, PPG Industries Inc., RPM International Inc., Solvay SA, The Sherwin Williams Co., VITRACOAT, and Wacker Chemie AG, among others
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and company landscape; company product insights and recent developments; key companies; and market positioning of companies
- Segments: End-user (Consumer appliances, Automotive, Architecture, Furniture, and Others), Type (Thermoset and Thermoplastic), and Geography (APAC, Europe, North America, Middle East and Africa, and South America)
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Powder coatings market – Company Insights
The growing competition in the market is compelling companies to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several market companies including Akzo Nobel NV, American Powder Coatings Inc., Arkema Group, Asian Paints Ltd., Axalta Coating Systems LLC., BASF SE, Berger Paints India Ltd., Covestro AG, FERRO South Africa PTY LTD., Fortunecoat Industries Pvt. Ltd., Jotun AS, Kansai Paint Co. Ltd., Keyland Polymer Material Sciences LLC, Liberty Coatings LLC, PPG Industries Inc., RPM International Inc., Solvay SA, The Sherwin Williams Co., VITRACOAT, and Wacker Chemie AG.
Powder Coatings Market – Market Dynamics
Key Drivers- Powder coatings offer less long-term costs, which is a key factor driving market growth. This is due to their typical faster throughput and greater coating material utilization; powder coatings have substantially lower long-term costs than liquid coating processes. Parts spend less time in the warehouse during the curing phase of powder coating since they can be put together, packaged, and delivered right away after they have cooled. The procedure also enables overspray material to be collected and reused as opposed to discarded, reducing the quantity of waste that needs to be disposed of, raising the coating material’s utilization rate, and gradually lowering material prices. Hence, these factors are expected to drive market growth during the forecast period.
Major Trends- Increased durability of powder coatings is a major trend in the market.
Significant Challenges- Difficulty in producing even and thin coating is a significant challenge restricting market growth.
The powder coatings market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as prospects.
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What are the key data covered in this Powder Coatings Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the powder coatings market between 2023 and 2027
- Precise estimation of the size of the powder coatings market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the powder coatings market across APAC, Europe, North America, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of powder coatings market companies
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| Powder Coatings Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2027 |
| Growth momentum & | Accelerate at a CAGR of 5.2% |
| Market growth 2023-2027 | USD 4,191.98 million million |
| Market structure | Fragmented |
| YoY growth 2022-2023 (%) | 4.75 |
| Regional analysis | APAC, Europe, North America, Middle East and Africa, and South America |
| Performing market | APAC at 39% |
| Key countries | US, China, India, Germany, and France |
| Competitive landscape | Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
| Key companies profiled | Akzo Nobel NV, American Powder Coatings Inc., Arkema Group, Asian Paints Ltd., Axalta Coating Systems LLC., BASF SE, Berger Paints India Ltd., Covestro AG, FERRO South Africa PTY LTD., Fortunecoat Industries Pvt. Ltd., Jotun AS, Kansai Paint Co. Ltd., Keyland Polymer Material Sciences LLC, Liberty Coatings LLC, PPG Industries Inc., RPM International Inc., Solvay SA, The Sherwin Williams Co., VITRACOAT, and Wacker Chemie AG |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
Table of Contents
Executive Summary
Market Landscape
Market Sizing
Historic Market Size
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
