Metallic Powder Coatings Market worth $3.3 billion by 2025 Globally, at a CAGR of 7.5% says MarketsandMarkets™
Chicago, Jan. 28, 2024 (GLOBE NEWSWIRE) — The global Metallic Powder Coatings Market size will grow to USD 3.3 billion by 2025 from USD 2.3 billion in 2020, at a CAGR of 7.5% during the 2020-2025 period, as per the recent study by MarketsandMarkets™. The Increasing demand for metallic pigments from the architectural and automotive industries and large organized and unorganized aftermarkets for wheels are driving the metallic powder coatings market.
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List of Key Players in Metallic Powder Coatings Market:
- AkzoNobel N.V. (Netherlands)
- Axalta Coating Systems
- LLC (US)
- Jotun A/S (Norway)
- PPG Industries (US)
- The Sherwin-Williams Company (US)
- Tiger Coatings GmbH & Co. KG (Austria)
Drivers, Restraints, and Opportunities in Metallic Powder Coatings Market:
- Driver: Increasing demand for metallic pigments from architectural and automotive industries
- Restraint: High priced product in a price-competitive market
- Opportunity: Advanced materials and new compositions in wheels
- Challenge: Application of metallic powder coatings
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Currently, UV cured powder coatings are available in opaque, prismatic, metallic, tints, and clear finishes. The UV metallic powder coatings provide a new finishing opportunity to the wood coatings market, offering solid metal and metallic effect finishes. Traditional metallic liquid finishing is a liquid coating process and required long drying times and multiple coats to achieve the proper coverage and hiding. But the UV metallic powder coatings provide a new finishing opportunity to the wood coatings market with lustrous and metallic effect finishes. Solid metals of gold, bronze, dark silver, and bright silver have been developed to provide a unique finishing solution for MDF material. Also, it is seen that the use of mica-based metallic pigments provides an exciting method for formulating metallic finishes in UV cured powder coatings. This coating technology and formulation capability provide a finishing application to provide new and exciting finish opportunities for the wood coatings market.
APAC has emerged as the leading consumer and producer of metallic powder coatings. It is also the fastest-growing metallic powder coatings market due to the high demand from end-use industries such as architectural, appliances, and automotive. The developing countries of APAC, such as China, Japan, India, Indonesia, Malaysia, the Philippines, are focusing on the construction of new residential and commercial buildings, and this is expected to increase in the future. Factors such as advances in civil construction and the high demand for efficient paints drive the metallic powder coatings market.
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Architectural was the largest application of metallic powder coatings, in terms of both volume and value, in 2019. The consumption of powder coatings in the architectural segment is growing because of its excellent durability and availability of a variety of finishes and colors. Architectural metallic powder coatings are factory applied, high quality, and durable in nature. Such coatings designed specifically keeping architectural applications in mind. Appropriate for use on architectural aluminum and steel for both exterior and interior applications, they offer good chemical resistance, excellent durability, and mechanical performance, and it is a sustainable alternative to liquid PVDF and anodized finishes.
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