This accelerates the mass shift of manufacturers and end-users towards powder coatings, thereby indicating a strong growth outlook for the powder polyester resin market in the near future.
Given the compatibility of powder polyester resins in numerous hybrid applications as well as in the production of pure polyester powder coatings, the market registered revenues above $2 billion in 2018.
During 2019-2029, the global powder polyester resin market value is set to expand at a healthy CAGR.
Key Takeaways - Powder Polyester Resins Study
- TGIC (Triylicidyl Isocyanurate)-based coating systems employ TGIC cross linkers in the production of polyester powder coatings. However, with numerous studies stating their toxicity, the product is largely regulated and limited use is permitted in the countries of Europe and Oceania;
- The development of TGIC-free coating systems has further led to technological advancements in the market, and these systems are estimated to account for a significant market share, expanding at a rapid pace;
- East Asia, alone, is estimated to account for nearly half of the consumption due to the high concentration of powder coating manufacturers. The region is also noted to be one of the key producers of powder polyester resins;
- Powder polyester coatings are known to exhibit excellent durability and weather resistance. These are also widely known to showcase enhanced UV resistance as compared to other coating types. Characteristics like these make polyester coatings optimum for outdoor applications.