The global powder coatings market size was USD 8.98 billion in 2018 and is projected to reach USD 15 billion by 2026, exhibiting a CAGR of 6.8% during the forecast period 2019 to 2026.
We have updated Powder Coatings Market with respect to COVID-19 Impact.
Powder coating is a solvent-free coating and is commonly used to create a hard finish. It is mainly used for the coating of metals, such as drum hardware, household appliances, automobile, aluminum extrusions, bicycle parts, and others. The major benefit of the powder coatings is that it avoids the economic and environmental costs of petroleum solvents which are used in conventional liquid coatings. An increase in consumer per capita spending along with advancement in technology will drive the market during the forecast timeframe.
Shift from Conventional Liquid Coatings to Powder Coatings to Fuel the Market
Liquid coatings produce hazardous waste in two key areas disposal and retouching. The liquid coatings defect frequently require solvents due to its chemical composition. The solvent used in liquid coatings produce harmful fumes and the used solvents are considered as hazardous waste. Stripped and discarded liquid coatings may also be hazardous waste and should be disposed of properly which can be an expensive and time-consuming process.
It is considered inert and does not require disposal or handling. Powder coatings are inflammable and are considered safe, though the liquid coating is a solvent-borne coating which is not considered as safe. It is much safer to handle and isnt hazardous to retouch, in turn improves the coat. The coated powder part can simply wipe or uses compressed air to eliminate the uncured concentrate and re-apply it. Any waste generated using powder coatings can be swept up and handled without special safety equipment, and it can be discarded easily. It provides easy cleanup and produces no harmful waste.
Read more: Clevelang Ohio GLOBAL POWDER COATINGS MARKET SIZE WAS USD 8.98 BILLION IN 2018 AND IS PROJECTED TO REACH USD 15 BILLION BY 2026, EXHIBITING A CAGR OF 6.8% DURING THE FORECAST PERIOD 2019 TO 2026.