Global Powder Coatings Market: The pneumatic gun is filled with powder which has high voltage positive charge and the part that has to be painted is electrically grounded, which attracts the positively charged powder. The main difference between a conventional coatings and a powder coating is, it does not require solvent or binders to keep the coat, instead it is applied electrostatically and is then heated to get evenness. The powder resin may be a thermoplastic or a thermoset polymer and is usually used to create a hard finish that is tougher than conventional coatings.
In addition, increasing implementation of powder coatings in various end use sectors such as automotive, consumer goods etc. is expected to further drive growth of the global powder coating market. Moreover, technological advancements and availability of low or no release of volatile organic compound is further driving growth of the global powder coatings market. Low operational costs, color availability, controlled film thickness etc. are some of the features of powder coating which are expected to further fuel growth of the global market during the forecast period.
A major factor hampering growth of the global powder coatings market is, difficulty to coat thin films below 1.0-1.5 millimeter. Rising demand from domestic appliances are expected to fuel market growth during the forecast period. Technological advancements in terms of thin film coatings, weather ability, lower temperature curves are expected to create more opportunities for major vendors during the forecast period.
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The global market report has been segmented on the basis of resins type, application method, industry verticals, and region.
North America dominates the global powder coatings market and is expected to maintain its dominance during the forecast period. This growth can be attributed to presence of major vendors in this region. The market in Asia pacific is expected to register significant CAGR of X.X% during the forecast period. The market in Europe is expected to witness moderate growth during the forecast period.
Key players in the global powder coating market are Akzo Nobel N.V., The Dow Chemical Company, Axalta Coating Systems, BASF SE, Dupont, Kansai Paint, Nippon paints, PPG Industries Inc., The Sherwin-Williams Company, and Valspar Corporation.