The epoxy powder coatings market is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to increasing population, unhealthy lifestyles, increasing application of powder coatings, and growing demand for automotive industry.
The epoxy powder coatings are used in enterprises such as electronics, automotive, architectural, general industries, and furniture. The powder coatings made from epoxy are long lasting, durable, and tough coating for metals. Good resistance and hardness to abrasions and impact improves the quality of products over liquid coatings.
The Covid-19 pandemic affected the demand and supply of epoxy powder coatings market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for buildings and construction sector is projected to boost the market in the coming years.
- High per-capital income and increasing population is the major factor fueling the market.
- Increase in price of chemicals is anticipated to restrict market growth.
- High cost of the products and increased raw material prices is projected to hamper the market expansion.
- R&D investment and technological advancement in epoxy powder coatings is projected to create lucrative opportunities for the market players.
Scope of the Report
The report on the epoxy powder coatings market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report
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Attributes
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Details
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Report Title
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Epoxy Powder Coatings Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018-2019
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Forecast Period
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2021-2028
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Segmentation
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Coating Types [Protective Coatings and Other Coating Types] and End-users [Buildings and Constructions, Aerospace, Automotive, Marine, Oil and Gas, and Energy]
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players covered in the Report
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The Sherwin-Williams Company, IFS Coatings, PPG Industries, Inc., Arekema S.A., Akzo Nobel N.V., 3M, OK Color, Tulip Paints, Jotun A/S, The Powder Coating Institute, HMG Powder Coatings Limited, THOMAS HOWSE LIMITED, Zhejiang Huacai Advanced Material Co., LTD., and Thermaset Ltd
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Market Segment Insights
The buildings and construction segment accounts for key share of the market and expected to grow at a rapid pace
Based on end-users, the epoxy powder coatings market is segregated into buildings and construction, aerospace, automotive, marine, oil and gas, and energy. The buildings and construction segment accounts for a key share of the market. The growth of the market is attributed to growing population, rising disposable income, and increasing urbanization. However, the automotive segment is anticipated to expand at a rapid pace during the forecast period due to factors such as improved standard of living and excellent performance of epoxy powder coatings.
The protective coating segment is projected to expand at a rapid pace
On the basis of coating types, the epoxy powder coatings market is segmented in to protective coatings and other coatings types. The protective coating is majorly used for coating of drum hardware, bicycles frames, automobiles, and aluminum extrusion. A protective coating can be sprayed, painted, welded, and even plated onto a material. The main objective of protective coatings is to prevent the material from corrosion and rusting. There are many protective products in the market, but epoxy coating is the customer’s choice in many critical enterprise coating operations. The epoxy coatings were made for heavy-duty service on metal like iron and steel.
The market in Asia Pacific is projected to dominate the market
On the basis of region, the epoxy powder coatings market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is projected to hold a major market share during the forecast period due to factors such as excellent performance of epoxy powder coatings, high disposable income, and rising buildings and construction sector. The market in North America is anticipated to expand at high CAGR during forecast period due to factors such as growing demand for automotive enterprises, increase in urbanization, and increase in application of epoxy powder coatings.
Segments
Segments Covered in the Report
The epoxy powder coatings market has been segmented on the basis of
Coating Types
- Protective Coatings
- Other Coating Types
End-users
- Buildings and Constructions
- Aerospace
- Automotive
- Marine
- Oil and Gas
- Energy
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- The Sherwin-Williams Company
- IFS Coatings
- PPG Industries, Inc.
- Arekema S.A.
- Akzo Nobel N.V.
- 3M
- OK Color
- Tulip Paints
- Jotun A/S
- The Powder Coating Institute
- HMG Powder Coatings Limited
- THOMAS HOWSE LIMITED
- Zhejiang Huacai Advanced Material Co., LTD.
- Thermaset Ltd
Competitive Landscape
Key players competing in the epoxy powder coatings market includes The Sherwin-Williams Company, IFS Coatings, PPG Industries, Inc., Arekema S.A., Akzo Nobel N.V., 3M, OK Color, Tulip Paints, Jotun A/S, The Powder Coating Institute, HMG Powder Coatings Limited, THOMAS HOWSE LIMITED, Zhejiang Huacai Advanced Material Co., LTD., and Thermaset Ltd.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming year.
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