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Manufacturers poised to streamline automotive application in powder coatings market

Author : Ravi Chawat | Published Date : 2020-08-26 

The Powder coatings market trends will be driven by an increase in purchasing power. Te change in consumer lifestyle has supported the growth of automotive industry across developed and developing nations. According to data furnished by OICA, global automobile production in the year 2018 was recorded at over 95.6 billion and is likely to witness robust growth over the years.

Stringent regulations set by the government and other recognized regulatory authorities to control VOC levels have steered the adoption of powder coatings across the globe. These materials carry several sustainability advantages over competing products such as anodizing or liquid PVDF paints. It has been estimated that global powder coatings market share is likely to surpass USD 17 billion by 2025. The rapid acceptance of these products is derived from the low VOC emission levels they entail.

 

owder coatings business share has experienced a veritable expansion over the years owing to the benefits associated with the products, including durability, superior- quality and enhanced efficiencies on virtually any type of material. Powder-coated surfaces are essentially more resistant to scratches, chipping, fading and wearing than any other finishes.

Exhibiting more resistance to moisture, impact, chemicals, and hostile weather as compared to liquid coatings, powder coating is fueling growth in metal space. Compelling use of powder coatings in metal materials such as stainless steel, brass, steel, brass and in non-metals such as fiberboard or glass has augured well for the industry size expansion.

The product is derived from polymer resins, combined with curatives, leveling agents, pigments, flow modifiers, and other additives. Constant evolution and development in the automobile sector have driven the consumption of powder coatings substantially over the years, with the need to effectively treat the bare metals.

Some of the important factors that complement the exponential growth of powder coatings market size include the enormous expansion of the oil and gas sector to meet the burgeoning demand from across the globe.

Consistent expansion of global powder coatings market share can be observed through the rise in research and innovations undertaken by leading market players such as BASF, AkzoNobel N.V., Axalta Coating System and Asian Paints among various others. Say for instance, in October 2019, Axalta reportedly acquired a manufacturing site in Turkey specifically to expand its production capabilities to provide faster, reliable and superior quality products to its customers.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/379

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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