June 29, 2021 12:30 ET | Source: insightSLICE
Pune, India, June 29, 2021 (GLOBE NEWSWIRE) - 2020-2030 global metal powder coatings market share, trends, analysis and forecast provides information on key developments, business strategies, R&D activities, supply chain analysis, and competitive landscape And market composition analysis.
The market size of metal powder coatings in 2020 is estimated to be 1.79 billion U.S. dollars and is expected to reach 3.3 billion U.S. dollars by 2031, with a compound annual growth rate of 5.7%. Powder coating refers to the dry exterior finish coating used for items to improve the protection quality and visual appeal of items. The general circulation includes polymer sap, fluid consistency mixture, color and different added additives mixing, liquefaction, cooling, and then set into a uniform structure.
Various methods are used to achieve this uniform accumulation on metallic and non-metallic substrates. Due to its small adverse impact on the environment, this product is widely used in various fluids in specific industries, automotive industries, industrial machinery, construction, furniture, and general enterprises.
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Metal powders are more difficult to spray than solid shading powders. Basically, among other factors, static electricity also affects the location of metal fragments in the powder. Small changes in chip direction can change the color tone of the coating, especially when there is a huge difference between the base color and the color tone of the metallic coating.
The growth drivers of the metal powder coatings market
The strong demand for metal colors in construction and automobile companies, as well as the huge set-up and personal retail market for wheels, are driving the development of the metal powder coating market. Buyers’ changing needs for special and attractive products make it possible for metallic colors to become the automotive industry in the near future.
The widespread recognition of aluminum colors in the automotive sector helps to promote the development of the market. Increasing attention to the use of details with a low-carbon impression is expected to drive the demand for metallic colors for environmentally friendly paint and coating projects. As a result, the application of metallic shades in powder coatings is developing rapidly because they provide buyers with a wider range of shades.
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The local government's approval of infrastructure improvements and residential facilities will decisively affect the construction and paint fields, which means supporting the development of the industry. During the forecast period from 2021 to 2031, incredible performance characteristics and product accessibility of discrete shapes, tones and surfaces will further stimulate powder coatings market revenue.
Due to the simplicity of practical applications, lower project costs and ecological adequacy, high response rates are driving demand. Taking into account the impact of volatile organic compounds (VOC) on human health, the need to improve indoor and outdoor air quality continues to expand, and manufacturers are focusing on reducing VOC content. Compared with fluid coatings, negligible VOC emissions will provide industry members with a solid business stand because they can effectively and financially agree to the guidelines of the U.S. Environmental Protection Agency.
Major market segments of the global metal powder coatings market
It is expected that during the forecast period from 2021 to 2031, the bonding/bonding process type market segment will achieve the fastest development. It is observed that this process is more stable than dry blending/unbounded applications and greatly improves the aesthetics after completion.
During the estimated period of 2021 and 2031, the construction sector is the largest end-use industry in terms of volume and value. The durability and usability of discrete finishing and color pigments. The Asia-Pacific region dominates this end-use market segment, followed by Europe and North America. Metal powder coatings for architectural applications combine interior and exterior coatings, such as covering panels, metal structures, railings, and window panels and door frames. These coatings are mainly used in residential and industrial structures and are the first choice of paint craftsmen and DIY suppliers. They are used to cover aluminum and steel, both inside and outside, application wise.
In terms of production volume, blending is the fastest-growing part of the resin, which is expected between 2021 and 2031. When epoxy resin is combined with polyester resin to produce powder with many properties similar to epoxy resin, a mixed resin is formed. They are mainly used for indoor applications. Among all thermosetting powder coatings, epoxy-polyester hybrids may show the best exchange characteristics. These hybrid powder coatings are particularly valuable in equipment, shelf products, office furniture, appliances, and general mechanical applications. The mixture definition can be modified for industrial and aesthetic applications.
Considering the health effects of volatile organic compounds (VOCs) and the surge in demand to improve indoor and outdoor air quality, manufacturers are striving to reduce the complacency of VOCs. Compared with paint in liquid form, the negligible outflow of VOC will provide industry members with a solid business stand because they can effectively and economically comply with the guidelines provided by the U.S. Environmental Protection Agency.
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It is estimated that within the forecast period of 2021-2031, the Asia-Pacific region will become the largest and fastest-growing business sector for metal powder coatings. The changes in the market in this region are mainly due to the rapid development of the financial industry, followed by a large number of projects undertaken by different companies such as the construction industry, the automobile industry, the instrument and equipment manufacturing industry, and the furniture industry. Another financial improvement factor is the exponential growth of populations in countries such as China and India.
Due to the lowest wage costs and proximity to developing commercial sectors such as India, Indonesia and Malaysia, different regulatory agencies are moving their industrial sectors to the region. Therefore, the market situation will improve in the next few years.
The main players in the global metal powder coatings market are:
Akzonobel NV, American Powder Coatings, Inc., Arsonsisi SPA, Asian Paints Limited, Axalta Coating Systems, LLC, Cardinal, Diamond Vogel, Duluxgroup Ltd., Emil Frei GmbH & Co. Kg, Erie Powder Coatings Inc., Ifs Coatings, Igp Pulvertechnik Ag, Jotun A/S, Neokem SA, Ppg Industries, Primatek Coatings Ou, Pulverit SPA, Rpm International Inc., St Powder Coatings SPA, Teknos Group Oy, the Sherwin-Williams Company, Tiger Coatings GmbH & Co. KG, Vitracoat , Weg, Yba Kimya AP
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Key market segments of the global metal powder coatings market:
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