Global Powder Coatings Market to witness 5.4% CAGR from 2019 to 2026 and to surpass $15 billion by 2026

Powder Coatings Market growth is driven by surge in demand for appliances, and booming construction industry.

PORTLAND, UNITED STATES, USA, September 17, 2021 /EINPresswire.com/ — Global powder coatings market garnered $9.8 billion in 2018, and is estimated to reach $15.0 billion by 2026, witnessing a CAGR of 5.4% during the forecast period, 2019–2026, According to the report published by Allied Market Research.

Based on geography, the Asia-Pacific region, followed by North America, accounted for nearly three-fifths of the global powder coatings market revenue and is predicted to lead the trail throughout the study period. The same segment is also expected to grow at the fastest CAGR of 5.8% during 2019–2026. The report also analyzes the regions across North America, Europe and LAMEA.

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Rise in adoption of powder coatings over liquid coatings, supporting environmental regulations, surge in demand for appliances, and booming construction industry drive the growth of the global power coatings market. On the other hand, difficulty in the application of thin coats impedes the growth to some extent. However, rapid economic growth in emerging countries is expected to pave the way for a number of opportunities in the powder coatings industry.

Based on resin type, the report bifurcates the market into thermoset and thermoplastic. The thermoset segment garnered the major share in 2018, holding 92% of the global powder coatings market. The segment is also expected to dominate during the forecast period.

Based on coating method, the market is categorized into Electrostatic Spray and Fluidized Bed. The electrostatic spray segment held the largest global powder coatings market share in 2018 and is anticipated to retain its top position by the end of 2026.

Key players in the industry-

1. Akzo Nobel N.V.

2. Tiger Coatings

3. Kansai Nerolac Paints Limited

4. IFS Coatings

5. Sherwin Williams

6. Axalta Coating Systems

7. BASF SE, Berger Paints

8. PPG Industries

10. The Valspar Corporation

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By Application

1. Appliances

2. Automotive

3. Architectural

4. Furniture

5. Agriculture, Construction, & Earthmoving Equipment (ACE)

6. General Industrial

7. Others

Based on application, the market is divided into Appliances, Automotive, Architectural, Furniture, Agriculture, Construction, & Earthmoving Equipment (ACE), General Industrial, and Others. The automotive segment accounted for nearly one-fifth of the global powder coatings market share and is projected to rule the roost by 2026.

About Us

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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Allied Analytics LLP
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