According to a new MarketsandMarkets research report, “Powder Coatings Market by Resin Type (Thermoset and Thermoplastic), Coating Method (Electrostatic Spray, Fluidized Bed), End-Use Industry (Appliances, Automotive, General Industrial, Architectural, Furniture), and Region – Global Forecast To 2025,” the global powder coatings market size will grow to $14.9 billion by 2025 from $11.6 billion in 2020, at a CAGR of 5.2% during 2020-2025 period.
The powder coatings market has been segmented based on resin type (thermoset and thermoplastic), coating method (electrostatic spray, fluidized bed), end-use industry (appliances, automotive, general industrial, architectural, furniture, others), and region (APAC, Europe, North America, Middle East, South America, and Africa).
The thermoset resin segment is expected to lead the growth during the forecast period. Thermoset powder coatings are used on a wide array of automotive, appliances, and gen-eral industrial products. Thermoset powder coating systems offer broad formulation flex-ibility. They are very durable and are widely used in both decorative and functional applications. Thermosetting powders are derived from polyester, epoxy-polyester hybrid, epoxy, acrylic, polyurethane, and other resins.