U.S. & Europe Powder Coatings Market Analysis with Size, Manufacturers, Applications and Forecast Research Report
According to a new report published by KD
Market Insights, titled, "U.S.
& Europe Powder Coatings Market by
Resin Type, Coating Method, and Application: Opportunity Analysis and Industry
Forecast, 2019-2026," the U.S. & Europe powder coatings market was
valued at $2,965.7 million in 2018, and is projected to reach $4,292.5 million
by 2026, growing at a CAGR of 4.7% from 2019 to 2026.
Increase in adoption of powder coatings across
various end-user industries such as automotive, appliances, furniture, and
construction, is one of the major factors expected to drive the growth of the
U.S. & Europe powder coatings market. This trend is expected to continue as
it is solvent-free. In addition, the shift toward the use of powder coating due
to low-VOC content of the product is positively affecting the demand for powder
coatings in various applications. However, presence of contaminants in
wastewater discharge and increase in raw material cost hamper the growth of the
market. On the contrary, emergence of new application methods is expected to
provide lucrative growth opportunities.
Based on resin type, the U.S. & Europe
powder coatings market is segmented into thermoset and thermoplastic. Thermoset
is further categorized into epoxy, polyester, epoxy polyester hybrid, and
acrylic. Thermoplastic is further classified into polyvinyl chloride (PVC),
nylon, polyolefin, and polyvinylidene fluoride (PVDF). Thermoset resin is
mostly used in powder coating as it provides surface layer that is decorative
and durable. Thermoplastic resin has properties such as resistance to
corrosion, UV protection, high flexibility, and operation at low temperature.
Based on coating method, the U.S. & Europe
powder coatings market is segmented into electrostatic spray and fluidized bed.
Electrostatic spray is used in automotive industry owing to its benefits such
as low cost of automation. Fluidized bed is mostly used to coat home appliances
as it provides high thickness of coating.
Based on application, the market is divided
into appliances, automotive, architectural, furniture, agriculture
construction, and earthmoving equipment (ACE), and others. In the appliance
industry, powder coating is used owing to its properties such as resistance to
abrasion and temperature cycling. In the automotive industry, powder coating is
applied on automotive components and parts to increase their shelf life.
Based on region, the market is analyzed across
the U.S. and Europe. Increase in demand and production of electric vehicles
have led to surge in demand for powder coating in the U.S. and Europe.
Browse Full Report & TOC: https://www.kdmarketinsights.com/product/us-and-europe-powder-coatings-market-amr
Key Findings of the U.S. & Europe
Powder Coatings Market:
- The Europe powder coating market is
predicted to hold a share of over 51.9% by 2026.
- The U.S. powder coating market is predicted to hold a share of over 48.1% by 2026.
- The electrostatic spray segment is expected to hold a dominant share of the market in terms of revenue, over the projected period.
- The automotive application segment held a share of over 18.9% in 2018 and is projected to grow to 19.4% by 2026.
- The U.S. powder coating market is predicted to hold a share of over 48.1% by 2026.
- The electrostatic spray segment is expected to hold a dominant share of the market in terms of revenue, over the projected period.
- The automotive application segment held a share of over 18.9% in 2018 and is projected to grow to 19.4% by 2026.
The market players have
adopted expansion, acquisition, and collaboration as their key strategies to
gain competitive advantage in this market. The key players operating in the
U.S. & Europe powder coatings market include Akzonobel N.V., American
Powder Coatings Inc., Axalta Coating Systems, BASF SE, IFS Coatings Inc., PPG
Industries Inc., Powder Coating USA, Inc., The Sherwin-Williams Company, Tiger
Drylac U.S.A., Inc., Jotun, and RPM International Inc.
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