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Powder coatings for automotive applications occupied the major market share in terms of revenue.
May 5, 2023
By: DAVID SAVASTANO
Editor, Ink World Magazine
According to a new report published by Allied Market Research, “Powder Coatings Market by Resin Type, Coating Method, and Application: Global Opportunity Analysis and Industry Forecast, 2019-2026,” the global powder coatings market size is expected to garner $15 billion by 2026, registering a CAGR of 5.4% during the period from 2019 to 2026. Powder coatings for automotive applications occupied the major powder coatings market share in terms of revenue in 2018, and is expected to maintain its lead throughout the analysis period. Significant drivers of the powder coatings market include increasing adoption of powder coatings over liquid coatings, supporting environmental regulations, increasing demand for appliances, booming construction industry, and rapid economic growth in emerging countries. However, difficulty in the application of thin coats is expected to impede this growth. In the year 2018, thermoset powder coatings segment occupied a dominating position as it provides superior finish with excellent durability that reduces the maintenance and prolongs the shelf life of the coated products. Moreover, stringent regulations have led to increased penetration of powder coatings over liquid coatings. Powder coating overspray can be recycled and reused, which means 100% coating material can be utilized. Powder coatings in appliances application segment is expected to witness high growth during forecast period. Electrostatic spray is the most adopted coating technique as it enables coating of intricate shapes and does not require preheating of components. This segment is expected to continue its dominance throughout the forecast period.
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