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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 2.06 billion
• Forecast CAGR (2021-2026): 7.2%
• Forecast Market Size (2026): USD 3.12 billion
Powder coating is the process of applying powder coating to metallic surfaces to ensure high-quality finishing. Powder coating has gained popularity and has become one of the most widely used techniques for finishing automotive and other parts due to its long-lasting, robust finish and smooth texture that is resistant to corrosion. The need for an environmentally friendly alternative to solvent-laden paints is a major factor in the growth of powder coating materials. Furthermore, Mexico’s low production costs and proximity to the United States have increased its significance as a manufacturing center for the automotive, oil and gas, electronics, personal care, and pharmaceutical sectors.
Industry Definition and Major Segments
Powder coatings are fine solids with a variety of properties, including significant hardness and abrasion resistance, corrosion, and chemical resistance.
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The Thermostat market can be divided into the following segments:
• Epoxy Polyester Hybrid
The market for Thermoplastic can be divided into:
• Polyvinyl Chloride (PVC)
• Polyvinylidene Fluoride (PVDF)
The raw material of the industry consists of:
• Electrostatic Spray
• Fluidized Bed
The major applications of the market are:
• Agriculture, Construction, And Earthmoving Equipment (ACE)
• General Industrial
The leading regional markets for Powder Coatings are:
• New England
• Great Lakes
• Rocky Mountain
• Far West
The powder coating not only improves performance but also improves coating consistency and lowers coating costs because, unlike liquid coatings, overspray powder coating can be recycled and reused. However, volatile raw material prices, such as titanium dioxide, resins, and pigments, may limit market growth to some degree. Furthermore, population growth, urbanization, and rising disposable income would all contribute to increased production in the manufacturing, energy, and personal care industries in the United States.
Key Market Players
The major players in the market are Akzo Nobel NV, American Powder Coatings Inc., Axalta Coating Systems Ltd (NYSE: AXTA), BASF SE, IFS Coatings, Inc., PPG Industries, Inc., and Powder Coating USA, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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