Pure Epoxy Powder Coatings Market Key Leaders Analysis, Segmentation, Growth, Future Trends, Demands, Emerging Technology by Regional Forecast to 2029
The global pure epoxy powder coatings market size is slated to grow meteorically in the forthcoming years. The epoxy coatings act as an excellent metal protector and are widely used to coat poles, metal sheets, pipes, and pillars. It provides high resistance to chemicals and corrosion and is widely adopted to provide an aesthetic yet functional finish to metals. Fortune Business Insights™ has presented this information in an upcoming report titled, “Pure Epoxy Powder Coatings Market, 2021-2028”.
According to the report, the market is gaining steep momentum due to several reasons. For instance, pure epoxy powder coatings are an emerging technology adopted in heavy-duty concrete building applications. Since they act as exemplary metal protectors and aid a functional and decorative finish to metal sheets, their rising adoption in construction applications is anticipated to significantly drive market growth.
The market has experienced a negative impact of the global pandemic. The reduced production levels due to the low available workforce have affected the growth of the market. The low construction activities and declined sales of automobiles have impacted the demand and supply of the product. Many countries still face the second wave of the pandemic, and the growth of several markets and industries remains hindered by the pandemic. However, businesses are revamping their operational and functional structures to wade through the pandemic. The market is expected to gain steep momentum post-pandemic.
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On the basis of type, the market trifurcates into architectural & decorative coatings, conductive coatings, and protective coatings. On the basis of the method, the market bifurcates into fluidized beds and electrostatic spray. On the basis of application, the market segments into home appliances, automotive components, industrial equipment, furniture, etc. Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
- The report features a comprehensive evaluation of the market.
- The report provides information on different market segments; type, method, application, etc.
- The report features the regional analysis of different markets; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
- The report analyzes the impact of the COVID-19 pandemic.
- The report envisages PESTLE Analysis and Porters’ Five Forces Analysis for an infallible prediction.
Drivers & Restraints-
Rising Product Application in Automotive Industry to Prominently Drive Market Growth
The rising per capita escalates the purchasing power of consumers. The automotive industry extensively utilizes pure epoxy powder coatings to coat automotive parts. It enhances the aesthetic appeal and longevity of the coated metals. The increasing sales vehicles are likely to bolster the global pure epoxy powder coatings market growth.
The increasing global population, rapid urbanization, swift industrialization, and increasing per capita income escalate the construction and infrastructural activities around the globe. The increasing product demand for application in construction activities across residential and commercial sectors is expected to drive market growth in the forthcoming years.
The electronics industry also utilizes the product to coat home appliances. The increasing sales of home appliances due to high spending power are likely to complement market growth.
However, exposure to ultraviolet dissipation can hinder the product’s functionality and is anticipated to act as a restraint to market growth.
Rising FDI to Foster Growth in Asia Pacific
Asia Pacific is anticipated to emerge dominant in the global pure epoxy powder coatings market share. The growth is attributable to expanding automotive industry, high per capita income, and rising infrastructural activities in emerging nations like China and India. Additionally, the rising foreign direct investments are expected to foster market growth.
The high product demand in the expanding automotive industry because of the high thermal tolerance and high corrosion resistance is anticipated to help North America gain remarkable growth in the forthcoming years.
Europe is anticipated to witness enormous growth in the forthcoming years. This is attributable to the presence of a robust production base and a strong automotive industry. Additionally, the advent of electric hybrid cars is anticipated to bolster market growth.
Key Players Launch New Products to Strengthen Market Position
The market consists of key players operating at global and regional levels. The key players focus on implementing innovative strategies to mitigate the risks caused by the pandemic. They emphasize on diversifying their supply chain networks and improving their market presence through product launches, technological advancements, expansions, partnerships, collaborations, etc. For instance, Akzo Nobel launched three new product offerings for its powder coating plant based in China in July 2019. The supplementary supplies of powder primers, metallic powder coatings, and acrylic powder coatings for the automotive industry incurred a cost of USD 3.3 million.
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Key Players in the Global Pure Epoxy Powder Coatings Market are:
- Nippon Paint Holdings Co. Ltd.,
- Jotun A/S,
- Solvay S.A.,
- Evonik Industries AG,
- PPG Industries Inc.,
- Chugoku Marine Paints,
- Akzo Nobel N.V,
- KCC Corporation,
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