Global Powder Coatings Growth Opportunities
Powder coatings are used in electrical appliances, transportation, architectural, furniture, industrial, pipeline, and agricultural, construction, and mining equipment (ACME) end-use industry applications.
New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Powder Coatings Growth Opportunities" - https://www.reportlinker.com/p06439765/?utm_source=GNW
Powder coatings demonstrate an increasing preference over conventional liquid paints and other coating types in several applications, driving demand growth.
In addition, the expansion of end-use industries will contribute to market growth during the next few years. The rising product commoditization translates into reduced profit margins, challenging powder coating manufacturers.
Manufacturers should develop customized chemistries to improve product performance for specific sub-applications, increase margins, and gain a competitive advantage.
Powder coating applicators and end users face challenges that require solutions to minimize wastage during the application, enhance application quality, and support large component coating.
These customer requirements are only partially met, requiring applicators to invest in R&D activities to develop innovative equipment for unmet needs.
In addition, powder coating manufacturers will need to focus on more sustainable chemistry development per end-consumer preference. The chemistry types this study covers are epoxies, polyesters, epoxy-polyester hybrids, acrylics, PVC, polyamides, polyolefins, fluoropolymers, and polyurethanes.
The applications considered are electrical appliances, transportation, architectural, furniture, industrial, pipeline, and agricultural, construction, and mining equipment (ACME). For each end-use industry application, regional volume consumption and regional revenue estimates are discussed, along with revenue and volume estimates by chemistry.
The study examines market shares for the top powder coating manufacturers at the global level. The powder coating market is challenged by the rising need for tailor-made chemistries and application technologies to cater to customized requirements and demand for sustainable chemistries and technologies that promote a circular economy.
Powder coating manufacturers must make strategic acquisitions to develop an innovative product portfolio quickly or enter new geographies, gaining a competitive advantage.
They must partner exclusively with regional distributors or focus on direct sales for business development.
China, India, Southeast Asia, and LATAM will be the country markets that will witness high growth in the next 7 years due to their large, fast-growing end-consumer populations supporting end-use industry growth. The end-use industry’s increasing volume consumption of powder coatings and high-performance product development will contribute to the market growth in 5 to 7 years.
Author: Ganesh Jayant Dabholkar
Read the full report: https://www.reportlinker.com/p06439765/?utm_source=GNW
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