PUBLISHER: Grand View Research | PRODUCT CODE: 1530040
PUBLISHER: Grand View Research | PRODUCT CODE: 1530040
The global powder coatings market size is anticipated to reach USD 15.34 billion by 2030 and is anticipated to expand at a CAGR of 5.8% during the forecast period, according to a new report by Grand View Research, Inc. The growth is attributed to their extensive use in diversified industries such as appliances, automotive, infrastructure, and general industrial, among others.
Coatings are used in various end user industries, such as chemicals, architecture, automobiles, and others. Architectural coatings play a critical role in safeguarding and enhancing the surfaces of residential and commercial buildings. These products are specifically formulated to provide a wide array of benefits, including protection against weathering, UV radiation, and the growth of mildew. Within the architectural coatings segment, a diverse range of products, such as paints, varnishes, stains, and sealants, serve various purposes in the construction and maintenance of buildings.
Rising global demand for automobiles is a major driver for the powder coatings industry. Traditionally, powder has been used to coat only certain parts of automobiles, such as chassis and engine parts. However, some key players in the automobile industry are coating other parts, such as wheels, radiators, bumpers, shock absorbers, engine blocks, coil springs, and mirror frames. Thus, the demand for powder coating is increasing in the automobile industry. Inside the vehicle, they are employed on interior trim components like door handles, instrument panels, and dashboard accents, ensuring an appealing and durable finish. Powder coatings also find application on heat shields in the engine bay and exhaust system, offering protection from excessive heat for surrounding components.
The application of powder coating is difficult on sharp edges and inside corners. During curing, the liquid film tries to pull away from the edges of the surfaces, forming a thicker layer just before the edge and distortion of uniformity. This phenomenon may occur due to resins having low viscosity. In addition, applying thin films around these areas may impair the leveling and film flow. However, solvent coatings such as paints are used as substitutes to coat the substrates, whereas powdered ones cannot be applied to cover edges. This is expected to limit the growth of the market over the forecast period.