Latest TMR Report Explores Impact of COVID-19 Outbreak on Powder Coatings Market

Powder coatings are 100% solid coatings that comprise a homogeneous blend of polymers, pigments, and additives produced in the form of a fine powder. Powder coatings are solvent-free. They provide durable and attractive finishes. Powder coatings are applied with the help of a spray gun, which imparts an electrical charge on the powder particles and directs them toward the object to be coated. Powder coatings are used to provide protective and decorative finishes. They are available in a wide range of colors and textures.

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Based on type, the global powder coatings market has been segmented into thermoset and thermoplastics. The thermoset segment accounted for a major share of the market in 2017. Thermosets are mostly used to coat appliances, as they are resistant to extreme temperatures. The thermoset segment has been further sub-segmented into epoxy, polyester, epoxy polyester hybrid, acrylic, and others. The polyester sub-segment constituted a major share of the thermoset segment, as polyester has superior durability and a high resistance to UV light. The epoxy polyester hybrid sub-segment is projected to expand at a rapid pace during the forecast period. The thermoset segment is anticipated to expand at rapid pace in the coming years. The thermoplastics segment is also further sub-segmented into polyvinyl chloride, nylon, polyolefin, and polyvinylidene fluoride. The polyolefin sub-segment accounted for a major share of the thermoplastic segment. Polypropylenes are the most used polyolefins. They possess superior surface hardness and are scratch and abrasion resistant.

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Based on coating method, the global powder coatings market has been segmented into electrostatic spray and fluidized bed. In terms of volume, the electrostatic spray segment dominated the powder coatings market. The electrostatic spray segment is anticipated to expand at a rapid pace during the forecast period. In terms of demand, the fluidized bed segment accounted for a minimal share of the market in 2017. In the fluidized bed process, the work piece needs to be preheated, and in some cases, postheated to complete cure. A fluidized bed is used for coating small parts with simple shapes.

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In terms of application, the global powder coatings market has been divided into general metals, metal furniture, agriculture, construction, and earthmoving equipment, automotive, architectural, appliances, and others. The general metals segment accounted for a major share of the market in 2017. The appliance segment is projected to expand at rapid pace during the forecast period. Powder coatings are used in appliances, as they improve the esthetic appeal of appliances and offer resistance to abrasion, chemicals, and temperature cycling. The automotive segment also accounted for a large share of the market. The segment is anticipated to expand at a significant pace during the forecast period. The architectural segment is likely to expand at a steady pace during the forecast period, owing to stringent verification processes by governments for VoC emissions.

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Based on region, the global powder coatings market can be classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In terms of demand, Asia Pacific dominated the global powder coatings market in 2017. The market in the region is anticipated to expand at a rapid pace in the next few years, due to the stable economy in the region, increase in disposable income, and improving standards of living in countries such as China, Japan, Singapore, Malaysia, and Vietnam. In terms of volume and value, North America constitutes a large share of the market, due to a rise in environmental concerns and rise in awareness regarding the harmful effects of solvent-based coatings. The market in Latin America is projected to expand at a significant pace in the coming years. The region accounts for a considerable share of the market due to robust growth in the automotive sector, economic growth, reduction in inflation, and low lending rates.

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