| The global market for powder coatings is estimated to be about $15.7 billion this year and $21.4 billion by 2025, with a cAGR of 6.3%, according to a recent study by Markets&Markets. Due to the increasing demand in the downstream application field and the innovation of powder coating technology, the global powder coating market will develop rapidly. Globally, the apAC powder coatings market is the most developed in the region, thanks to strong growth in the electronics and automotive industries in the region. In China, Thailand, India, South Korea and other countries, the demand for consumer appliances continues to grow, which indirectly boosts the application of powder coatings. In recent years, the home appliance industry is the most obvious industry in the application field of powder coatings, such as refrigerator, air conditioner, dryer, washing machine, water heater, microwave oven and so on. Powder coating is a modern new coating products, one hundred percent of the solid powder coating, if excessive or super spray, can be used to recycle the excessive part of the coating system, reduce environmental pollution, with no solvent, no pollution, energy saving, reduce labor intensity and coating mechanical strength high characteristics. The major manufacturers of powder coatings in the world include PPG in the United States, Akzonobel in the Netherlands, Sherwin in the United States, Ashmore in the United States, Asian Coatings in India, Lippon in Japan, BASF in Germany, Jotun in Norway and so on. In 2018, the sales volume of thermosetting powder coatings in China was 1.76 million tons and thermoplastic powder coatings was about 150,000 tons. The total sales volume of powder coatings was about 1.9 million tons, an increase of about 9% year on year. In 2019, it exceeded 2 million tons, up about 10 percent from a year earlier. With the requirements of green development in China in recent years, China's "paint powder" accelerated, powder coating in the whole paint system accounted for more and more. Up to now, China has become a major producer and consumer of powder coatings, and it is expected that the output scale of powder coatings in China will exceed 2.5 million tons by 2022. Sales of powder coatings for automotive and general Industrial products are expected to reach $5.11 billion by 2020. The Asia-Pacific region has become the largest consumption market of powder coatings in the future, and the compound annual growth rate of powder coatings consumption in this region will reach 8.5% before 2020. Due to the increasingly strict VOC restrictions imposed by EPA, REACH and other regulatory agencies, powder coatings will have more growth potential than traditional liquid coatings in the future. In addition, growing markets for cars, appliances and other consumer goods will continue to boost powder paint sales. China, India, Brazil and Russia will be key markets for future growth in the powder coatings market, while the powder coatings market in Europe and North America has matured with limited growth. This article from the global chemmade |
