Powder Coating Market growth will be driven by increasing remodeling activities will expand the decorative and architectural sector. Powder coatings are valued for its low ecological impact owing to which it is widely used in a variety of applications namely, architectural, appliances, general industry, automotive, ACE, and furniture.
Factors such as rising per capita income, consumer preferences for high performance products along with advancements in technology are responsible for the powder coating market expansion. Formulation and implementation of favorable policies by regional governments to reduce consumption of volatile organic compounds will boost the product demand. For instance, in 2017, national standards were revised by Chinese government to lower VOC emission across automotive industry.
Rapid expansion of distribution network by key manufacturer is also likely to influence market development. Consumer consumption patterns and expectations in different regions are important factors to assess the powder coating market demand. The workforce in this business regularly acts as influencers in debates between the manufacturers and retailers. Wholesale suppliers often procure products from manufacturers and distribute them to specialty shops and hardware stores.
Thermoset resin is anticipated to witness the fastest growth up to 2025, owing to UV resistance, superior mechanical properties, and exceptional durability. The increasing usage of automobile components, such as door handles, wipers, metallic structural component, horns, radiator grills, wheel rims, and bumpers, will drive the powder coating market growth.