According to a market research report, the “Powder Coatings Market by Resin Type (Thermoset and Thermoplastic), Coating Method ( Electrostatic Spary, Fluidized Bed), End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture), & Region – Global Forecast to 2028″, size is estimated at USD 14.7 billion in 2022 to USD 19.9 billion by 2028, at a CAGR of 5.2%, between 2023 and 2028. The rapid growth of the Automotive EV sector, growing urbanization, increasing disposable income, and increasing gross domestic product (GDP) drive the powder coatings market. Technological advancements in end-use industries such as automotive, appliances, and general industrial also support growth. The powder coating market is divided into five key regions:Asia Pacific, Europe, North America, Europe, the Middle East & Africa, and South America. China and India, among other countries, are leading the powder coatings market globally.
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- 557 Market data Tables
- 67 Figures
- 448 Pages and in-depth TOC on “Powder Coatings Market – Global Forecast to 2028”
This report also provides a comprehensive analysis of the companies listed below:
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).
Merger & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Powder Coatings Market.
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Recent Developments in Powder Coatings Market
- In July 2022, Akzo Nobel N. V. acquired the wheel liquid coating business of Lankwitzer Lackfabrik GmbH. This acquisition would help the company enhance its economic development in China.
- In June 2022, The Sherwin-Williams Company acquired a German-based company, Gross & Perthun GmbH. This acquisition would help the company increase its competence in innovative industrial coatings, which can be used in the transportation and heavy equipment industries.
- In February 2022, PPG Industries, Inc. acquired the powder coatings business of Arsonsisi, headquartered in Milan, Italy. This acquisition allowed PPG Industries to expand its powder coatings business in Europe and EMEA.
PPG Industries, Inc: PPG Industries operates in the manufacturing, distribution, and sale of coatings, paints, and specialty materials. Founded in 1883 and headquartered in Pittsburgh, Pennsylvania, PPG has a presence in more than 70 countries worldwide and employs approximately 45,000 people. The company operates through three primary business segments: Performance Coatings, Industrial Coatings, and Architectural Coatings. The Performance Coatings segment provides coatings for various end-use markets, including automotive refinish and aerospace, industrial coatings, and protective and marine coatings. The Industrial Coatings segment provides coatings and finishes for containers, appliances, and transportation equipment, among other applications. The Architectural Coatings segment offers a range of products for the residential and commercial building markets. The products in this segment include paints, stains, and varnishes, as well as other decorative and protective coatings. PPG also operates a Glass segment that produces flat and fabricated glass products for the commercial and residential construction markets.
- In October 2021, Through the COMEX brand, PPG launched Comex VINIMEX TOTAL antiviral and antimicrobial paint. This product reduces 99.9% of bacteria and viruses responsible for the most common gastrointestinal and respiratory illnesses, including Influenza A H1N1 and the COVID-19 virus, SARS-CoV-2.
Akzo Nobel N.V: Akzo Nobel N.V is a global leader in the production of decorative paints, performance coatings, and specialty chemicals. Akzo Nobel operates in three main business segments: Decorative Paints, Performance Coatings, and Specialty Chemicals. The Decorative Paints segment provides a wide range of interior and exterior paints for both residential and commercial use. The Performance Coatings segment provides coatings and finishes for the aerospace, automotive, and marine industries, as well as for the oil and gas, power generation, and construction markets. The Specialty Chemicals segment produces chemicals used in products ranging from plastics and construction materials to personal care items and pharmaceuticals. Akzo Nobel operates in more than 150 countries and has manufacturing and research and development facilities in locations around the world.
- In June 2019, AkzoNobel introduced its first Low-E products—a coarse texture range of products. A complete range of smooth finishes in Interpon 610 has been added to the Low-E portfolio. Designed for a wide range of customers, including industrial manufacturers of steel constructions, street and garden furniture, and agricultural and construction equipment, a total of 50 smooth products, such as gloss, satin, and matt finishes, fall in this range.
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