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    Home > Chemicals Industry > China Chemical > The powder coatings market will reach US$20.1 billion by 2027

    The powder coatings market will reach US$20.1 billion by 2027

    • Last Update: 2022-01-18
    • Source: Internet
    • Author: User
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    According to Precedence Research forecasts, by 2027, the global powder coatings market will reach over US$20.
    1 billion

    .
    In 2019, the global powder coatings market was worth 12.
    02 billion U.
    S.
    dollars.
    It is estimated that the compound annual growth rate (CAGR) will be approximately 6.
    1% from 2020 to 2027

    .

    Powder coating refers to the application of powder coating on the metal surface to ensure high-quality surface treatment
    .
    Powder coatings have attracted more and more attention due to their durability, smooth surface, and corrosion resistance, and have become one of the most common technologies for surface treatment of automobiles and other parts

    .
    The main driving force for the growth of powder coatings is the search for an environmentally friendly alternative to solvent-based coatings

    .

    Among many industrial coatings, powder coatings are considered a sustainable choice
    .
    The main driving force for technological development is the growing demand for sustainable solutions and meeting customer demands for enhanced performance

    .
    In order to reduce the impact on the environment, companies continuously try to restore process capabilities, such as making good use of coating materials and eliminating coating steps

    .
    The lowering of the baking temperature allows the powder to be used on more substrates without generating VOCs, reducing energy consumption, and providing sustainable anodizing and liquid coating alternatives

    .

    Due to technological progress and increasing demands in applications such as automobiles, furniture, construction, agriculture, home appliances, earth-moving equipment, construction, and general industry, the demand for powder coatings has increased substantially
    .
    Strict environmental regulations are also expected to promote the growth of the global powder coatings market in the next few years

    .
    The product has a surge in demand for radiator grilles, door handles, bumpers, rims, metal structural parts and bicycles and other applications, and it is expected to promote market growth in the near future

    .

    The application of powder powder includes the application of topcoat and primer in a curing step, which provides a new perspective for powder coatings
    .
    In addition, powder coatings have gained a wider range of new applications

    .
    Better utilization than liquid form is one of the basic reasons that affect the application possibilities of the entire product

    .
    Infrastructure development is also a key factor in promoting product demand on an international scale

    .
    Proficiency and overspray are important aspects that dominate the market economy

    .

    The Asia-Pacific region conquered the powder coating industry with the largest market share in 2019 and is expected to show the most stable growth rate throughout the evaluation period
    .
    This growth is attributed to the optimistic market prospects of Asian economies such as China, India and Japan

    .
    Although Southeast Asian countries (such as Malaysia and Thailand) provide good opportunities for local sales, they also have important production advantages over other countries

    .
    In addition, steady economic growth is sending more investment to the region

    .
    Since the last decade, the expenditure of steel companies has triggered the expansion of the construction, home appliances, electronics and automotive industries in emerging countries in the Middle East and the Asia-Pacific region

    .
    Therefore, the growth of these industries supports the demand for powder coatings in these areas

    .

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