Powder coatings industry is estimated to reach $15.0 billion by 2026, witnessing a CAGR of 5.4% during the forecast period, 2019–2026

OREGON, PORTLAND, UNITED STATES, August 20, 2022 /EINPresswire.com/ — The global powder coatings industry 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. Allied Market Research published a report, titled, “Powder Coatings Market by Resin Type (Thermoset and Thermoplastic), Coating Method (Electrostatic Spray and Fluidized Bed), and Application (Appliances, Automotive, Architectural, Furniture, Agriculture, Construction & Earthmoving Equipment (ACE), General Industrial, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026.”

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Drivers, restraints, and opportunities-
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 industry.

Key players in the industry-
• Akzo Nobel N.V.
• Tiger Coatings
• Kansai Nerolac Paints Limited
• IFS Coatings
• Sherwin Williams
• Axalta Coating Systems
• BASF SE, Berger Paints
• PPG Industries
• The Valspar Corporation

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Detailed segmentation-
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.

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.

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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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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