Powder Coatings Market worth $16.8 billion by 2026

The report "Powder
Coatings Market by Resin Type
(Thermoset and Thermoplastic), Coating Method (Electrostatic Spray, Fluidized
Bed), End-use Industry (Appliances, Automotive, General Industrial,
Architectural, Furniture) and Region - Global Forecast to 2026", size will grow to USD 16.8 billion by 2026
from USD 13.8 billion in 2021, at a CAGR of 3.9% during the 2021-2026 period.
APAC is the largest consumer of powder coatings. Growth in various end-use
industries, stringent environmental regulations, and technological advancements
are the factors driving the powder coatings market.

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Browse in-depth TOC on "Powder Coatings Market"

348 - Tables

57 - Figures

408 – Pages

Thermoset resin segment is projected to be the largest
segment of the Powder Coatings market.

The thermoset resin segment is expected to lead the
growth during the forecast period. Thermoset powder coatings are used on a wide
array of automotive, appliances, and general industrial products. An increasing
number of end users demand powder coatings for high quality and durable finish,
allowing for maximized production, improved efficiencies, and simplified
environmental compliance. Thermoset powder coating systems offer broad
formulation flexibility. They are very durable and are widely used in both
decorative and functional applications. Thermosetting powders are derived from
polyester, epoxy-polyester hybrid, epoxy, acrylic, polyurethane, and other
resins.

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Appliance industry is the fastest-growing end-use
industry segment of the Powder Coatings market.

The appliance industry is projected to be the
fastest-growing end-use industry of Powder Coatings. Factors such as increase
in per capita income and consumer spending, changing consumer preferences, and
growing need for automation and technology advancements, are behind the rapid
growth of the powder-coated appliances market. The developing economies of
India, Brazil, and Russia are expected to be key consumers during the projected
period because of the developing consumer goods market in these countries. China
has been the largest revenue generator in the appliances industry.

APAC is the largest Powder Coatings market, globally.

APAC is the leading market for Powder Coatings. Countries
such as India, China, and Indonesia are investing heavily in various end-use
industries, which is likely to influence the growth of the powder coatings
market in these countries. The market in the APAC region will witness a
significant rise owing to the growth of the electronics and automotive
industries in China, Thailand, India, South Korea, and Taiwan. Increasing
demand for consumer goods, including washing machines and refrigerators, in
countries such as India, China, Vietnam, the Philippines, and Thailand, is
expected to boost the demand for powder coating in these applications.

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The key players profiled in the powder coatings market
report are PPG Industries, Inc. (US), The Sherwin-Williams Company (US), Akzo
Nobel N.V. (Netherlands), Axalta Coating Systems, LLC (US), Tiger Coatings GmbH
& Co. KG (Austria) and Jotun A/S (Norway).

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