Global powder coating market value estimated at $15.7 billion by 2020

According to a new study, the global powder coating market is expected to be about $15.7 billion in 2020 and $21.4 billion by 2025, with a CAGR of 6.3% over the periodThe analysis points out that the global powder coating market is showing a high rate of development, stimulated by the obvious growth of demand for downstream applications, the continuous advancement of technology innovation in powder coating, the economic environment in developing countries and regions, the increasingly stringent environmental regulations in the world, the development of home appliances and the automotive industryresearch pointed out that the home appliance industry is in recent years, the most obvious development of powder coating applications, powder coatings have a good appearance, wear resistance, chemical resistance, temperature variability, etc, in this industry has been widely used, such as refrigerators, air conditioners, dryers, washing machines, water heaters, microwave ovens and so onIn the powder coating resin varieties, the largest amount of thermoset resinWith the increase of temperature, thermoset powder coating melting, leveling, cross-linking curing, forming a higher relative molecular mass reaction product, cured coating to maintain good thermal stability, will not melt with the temperature riseMoreover, the formulation flexibility of the thermoset powder coating system is strong, widely used in decorative, functional home appliancesthe Asia-Pacific region has seen the most significant growth in the powder coatings market in the global region, thanks to strong growth in the electronics industry and automotive manufacturing in the regionIn China, Thailand, India, South Korea and other countries and regions, the population base is large, the region's GDP accounted for more than one-third of the world, the demand for consumer goods in the home appliances continued to grow, thus indirectly contributing to the application of powder coatingdemand demandmajor manufacturers of powder coatings in the world include: PPG of the United States, AkzoNobel of the Netherlands, Xuanwei of the United States, Asher of the United States, Asia Coatings in India, Libang, Germany, BASF, Jotun, Norway, Anderlewith, usa, etc