Powder Coatings Market Companies Expanding and Innovating

Powder Coatings Market Outlook: Powder coatings play a promising role as an eco-friendly alternative to traditional coatings, which have come under severe punishment across the globe on the back of growing environmental concerns. Powder coatings eradicate the risk associated with harsh chemicals and solvents such as volatile organic compounds (VOC) found in usual paints and coatings. Not only powder coatings are harmless, but they are also advantageous to liquid coating materials. Powder coatings is a modern approach for decorative and protective finishing. The powder coatings marketplace is filled with the option, such as epoxy, polyester, polyurethanes, and acrylics. Wider color options emphasize powder as a robust substitute for liquid coatings with reduced production cost. Powder coating has a less overspray, thus it requires less amount of coating material. It provides efficient coating thickness in one spraying with a high-quality finish and avoids uneven coatings. These powder coatings are being ductile with excellent impact strength and abrasion resistant in nature mostly preferred to use in new applications of wood and metal in kitchen cabinets. Additionally, they also preserve the aesthetic qualities of these products. Widespread of its application, taking from synthetic furniture to architecture use that is in wall cladding is fueling the growth of the powder coatings market. Spray paints are less durable compared to a dense, long-lasting consistency offered by dry powder coating process coupled with faster curing times. Powder coatings impart outstanding quality to buildings. Powder coating is the optimal choice made by the fabrication partners and also it is the most commonly used finishing processes involved with OEM Parts. According to a new business intelligence report from IndustryARC, the global powder coatings market was worth $10.6 billion in 2018, and its value is projected to grow at a CAGR of 6.1 % during the forecast period (2019-2025). The report has identified PPG Industries Inc., AkzoNobel NV, Jotun Powder Coating, Evonik Industries, Axalta coating systems LLC, Asian Paints Limited, Kansai Paints Company Ltd., and The Sherwin -Williams Company as some of the key manufacturers which are holding major shares in the powder coatings market. AkzoNobel Maintaining its Supremacy AkzoNobel NV manufactures high-quality powder coatings and sales of those products are processed through the brand name Interpon. The company’s powder coatings business has 29 manufacturing sites in 21 countries. It has three power technology centers in the U.S., Asia, and Europe respectively which incorporates with innovative technological developments of powder and its use in novel applications. This company provides powder coating solutions to a diverse range of industries such as architectural, appliances, automotive, agricultural and construction (ACE), general industrial, furniture functional, and IT.  It offers Interpon powder coatings at an extensive range, with a variety of colors, finishes and performance properties. AkzoNobel NV’s innovative product “Interpon AM paints” is a decorative and protective powder coating, which is combined with Bicote antimicrobial technologies. This product combats against microbes such as bacteria and mold, thus it is highly preferred in environments wherein hygiene surfaces are essential such as hospitals, clinics, schools, changing rooms, and public transport. Axalta Coating Systems Expanding in Emerging Economies Axalta Coating Systems is one of the leading manufacturers of powder industrial coatings. It offers Alesta AP, and Alesta SD durable powder coatings and Alesta UD hyper-durable powder coatings based on fluorocarbon chemistry. It deals with Alesta decorative coatings, Anti-Graffiti coatings, High-temperature coatings, Anti-Microbial Coatings, and Anti-slip coatings products. In 2018, Axalta inaugurated a new coating manufacturing plant in India to meet the increasing demand for coatings from commercial vehicles, light vehicles, automotive parts, and industrial segments and supporting a healthy environment. This company invested to produce high and low temperature cured coatings to cope up with the booming automotive market in India. VESTAGON from Evonik Industries Luring Customers Evonik Industries is a key manufacturer of polyurethane powder coating products for high-performance applications. It provides powder coating named VESTAGON, which supports lightweight, stable, and weather-resistant powder coating application. These products are gaining traction from end-users of the coatings industry such as automotive and architecture due to superior durability and flexibility offered by these products. VESTAGON B 1530 and VESTAGON EP-BF 1350 products offer chemical resistance and superior leveling respectively in automotive coatings. These are helpful for powdered coated rims, assembly parts, automotive trim to withstand against chemical attacks. VESTAGON BF 1320 and VESTAGON BF 1321 coatings are used for decorative metal surfaces which has high production reliability and stability against high temperatures. Powder Coatings Market Trends & Drivers:

• Increasing installations of powder coating operations in plants to meet stringent OEM specifications for finished product durability coupled with labor and equipment costs are contributing to the growth of powder coatings market
• Evolving technologies such as one-coat powder, digital color matching, and increased transfer rates are providing significant opportunities for better profits. These technologies are increasing the efficiency of powder coatings in the application process, line speed, density, powder handling, film appearance, and finish quality coupled with effective protection. These altogether reduces the capital investment, saves energy consumption and maintenance and operational expenses
• Growing demand for cost-effective VOC-free coatings which empowers heat sensitive substrates for a harmonious home interior and furniture
• Exception from stringent emission regulations, helpful in faster regulatory approval and incessant demand for biodegradable products attributes for the growth of powder coatings market

Powder Coatings Market Segment Analysis:

• General metal finishing application is holding a major share in the powder coatings market, growing at a CAGR of 6.1% during the forecast period that is from 2019 to 2025 according to business analysts of IndustryARC. Importance of metal finishing for metal products to obtain better appearances with long-life durability are influencing the growth of metal finishing application in the powder coatings market
• Geographically, Asia-Pacific currently provides more than 49% of the overall demand and is expected to retain its prominence in the near future too.

Conclusion: Powder coating is eco-friendly and provides safe and cost-effective finishing. These are solvent-free materials which are extensively used in applications such as automotive, architectural, appliances, general metal finishing, household appliances, and consumer goods. Environmental and government regulations against traditional coating alternatives are encouraging the growth of the powder coatings market globally. New formulations from the manufacturers and plant expansions to catch the emerging demand of coatings in Asian countries are going to stroke the powder coatings market growth during the forecast period 2019-2025. Talk to one of our sales representative about the full report by providing your details in the link below: https://industryarc.com/support.php?id=11730 Related Reports:

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